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Linear Particle Accelerators Market Size, Share, Growth, Outlook Report 2033
Linear Particle Accelerators Market
According to The Business Research Company's, The linear particle accelerators market size has grown strongly in recent years. It will grow from $2.44 billion in 2023 to $2.59 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to increased demand for cancer treatment, government initiatives and funding, improved treatment outcomes, expansion of healthcare facilities, and collaboration and partnerships.
The linear particle accelerators market size is expected to see strong growth in the next few years. It will grow to $3.28 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to rising demand for precision medicine, increasing adoption of proton therapy, aging population, emerging markets, and research and development investments. Major trends in the forecast period include the integration of artificial intelligence, expansion of proton therapy, personalized medicine approaches, minimally invasive treatments, and global market expansion.
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Market Drivers and Trends:
The growing focus on precision medicine is expected to propel the growth of the linear particle accelerators market going forward. Precision medicine refers to an innovative approach to healthcare that tailors medical treatment and interventions to the unique characteristics of each individual patient. The growing focus on precision medicine can be attributed to advancements in genomic research and technology, recognizing the limitations of traditional healthcare approaches and the potential of tailored treatments for better outcomes. Linear particle accelerators are utilized in precision medicine to deliver targeted radiation therapy, allowing for precise tumor targeting while minimizing damage to surrounding healthy tissues. For instance, in 2022, according to the Personalized Medicine Coalition, a US-based professional membership organization, the Food and Drug Administration's Center for Drug Evaluation and Research (CDER) approved 37 new molecular entities (NMEs) in 2022. Out of the 35 therapeutic NMEs, approximately 34%, which amounts to 12 of them, are classified as personalized medicines by the Personalized Medicine Coalition (PMC). Therefore, the growing focus on precision medicine is driving the growth of the linear particle accelerators market.
Major companies operating in the linear particle accelerators market are developing innovative solutions, such as AI-powered adaptive computed tomography linear particle accelerators (CT-Linac), to revolutionize cancer treatment by offering enhanced precision, personalized therapy, and real-time imaging capabilities for improved patient outcomes. AI-powered adaptive computed tomography linear particle accelerators are advanced medical devices that integrate artificial intelligence algorithms with computed tomography technology and particle acceleration capabilities to provide precise, personalized radiation therapy treatments with real-time imaging and adaptive treatment planning. For instance, in May 2024, Elekta, a Sweden-based human care company, launched Elekta Evo, an AI-powered, adaptive CT-Linac. This linear particle accelerator, specifically designed for use in radiation therapy, offers clinicians unprecedented precision and versatility in cancer treatments. Evo gives physicians unprecedented levels of accuracy and adaptability in cancer therapies because of its next-generation image quality and online adaptability capabilities. Elekta Evo uses cutting-edge imaging technologies, anatomy-specific algorithms, and potent AI to optimize treatment planning, minimize injury to organs at risk, and reduce uncertainty.
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Major Key Players of the Market:
Hitachi Ltd., Mitsubishi Electric Corporation, Toshiba Corporation, Siemens Healthineers, Philips, Beckman Coulter Inc., Carl Zeiss, Elekta AB, Neusoft Corporation, Shinva Medical Instrument Co. Ltd., ALCEN, Laird Technologies, Accuray Incorporated, Brainlab AG, AccSys Technology, Mevion Medical Systems, Viewray Medical Technologies Inc., RefleXion Medical, Panacea Medical Technologies Pvt. Ltd., Altair Technologies, Sordina lort Technologies, MedAustron, LUM GmbH, IBA Group, P-Cure Ltd.
Linear Particle Accelerators Market 2024 Key Insights:
• The linear particle accelerators market size is expected to see strong growth in the next few years. It will grow to $3.28 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%.
• Rising Focus On Precision Medicine Fuels Growth In The Linear Particle Accelerators Market
• Advancements In AI-Powered CT-Linac Technology To Transform Cancer Care
• North America was the largest region in the linear particle accelerators market in 2023
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