July 17, 2024
Proton Therapy Market

Proton Therapy Market Propelled by Emergence of Particle Therapy Centers

Proton Therapy offers non-invasive treatment options for cancers compared to traditional radiotherapy methods. Proton therapy delivers a high dose of radiation directly to tumors while minimizing exposure to surrounding healthy tissue. The need for proton therapy is increasing owing to risks of recurrence associated with conventional radiotherapy.

The Global Proton Therapy Market Size is estimated to be valued at US$ 3183.21 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The emergence of particle therapy centers equipped with proton therapy systems is slated to drive market growth over the forecast period. According to estimates, nearly 130 particle therapy centers are under construction worldwide which will help increase access to proton therapy systems. The increasing number of particle therapy centers especially in Asia Pacific will accelerate the adoption of proton therapy systems in the region over the forthcoming years.

SWOT Analysis

Strength: Proton therapy is highly advanced and precise form of external beam radiation therapy. It precisely targets cancer cells and minimizes damage to surrounding healthy tissues.
Weakness: High installation and operational costs associated with proton therapy centers limits widespread adoption. Lack of insurance coverage for proton therapy in some countries is another challenge.
Opportunity: Increasing incidence rate of cancer worldwide represents significant growth opportunities. Growing geriatric population also increases susceptibility to cancer.
Threats: Dominance of existing well-established radiation therapy alternatives like IMRT poses competitive threat. Stringent regulatory requirements and long approval timelines limit rapid capacity additions.

Key Takeaways

The global proton therapy market is expected to witness high growth over the forecast period.

The North American region currently dominates the proton therapy market owing to extensive usage and reimbursement coverage. Key growth drivers for the region include growing cancer prevalence, favorable reimbursement policies, and significant technological advancements.

Key players operating in the proton therapy market are Silicon Labs, Aeotec (formerly Aeon Labs), Fibaro, Qolsys, Zooz, HomeSeer, Leviton, Everspring, Vision Security and Jasco (GE/Jasco). These players are focusing on new product launches and expansions to strengthen their market position. For instance, IBA launched Proteus PLUS and Proteus PRIMA systems with improved treatment planning and delivery capabilities.

*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it