The global proton therapy market can be segmented on the basis of product type, application, end-use. On the basis of product type, the market is segmented into multi room systems and single room systems. Based on application, the market is sub-segmented into brain cancer, gastrointestinal cancer, breast cancer, lung cancer, prostate cancer, pediatric conditions and others. On the basis of end use, the market is segmented into ambulatory surgical centers, specialized clinics and hospitals. The proton therapy market is widely inclined towards lung cancer and gastrointestinal cancer on account of increased adoption of this therapy by healthcare specialists in these fields. The proton therapy market is concentrating more on providing accurate results for treating cancer cells effectively which is anticipated to be the substantial factor behind the growth of the market in upcoming years.
The global proton therapy market is anticipated to expand at a CAGR of around 15.4 % during the forecast period i.e. 2019-2027. Increase in the consumption of tobacco and its various forms is expected to be the major factor behind the growth of the market. Further, rising expenditure in various ongoing developments in the field of healthcare sector and properties of proton therapy as a minimally invasive method which is effective in pediatric cancer treatments are some of the significant growth drivers responsible for the expansion of the market.
By region, global proton therapy market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. Among these regions, North America is expected to lead and dominate the global proton therapy market over the forecast period which can be attributed to increase in the population of cancer patients coupled with rising rate of tobacco consumption across the region. Further, Europe is expected to be in the second place as this therapy is extensively used due to the presence of high percentage of geriatric population across the region. In Asia Pacific, the increase in the target population is increasing at an exponential rate. Additionally, rising awareness among people and increased expenditure in healthcare sector is anticipated to boost the market growth in the Asia Pacific region
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Advancement in Healthcare Sector to Augment the Growth of the Market
Rise in the healthcare sector and increased expenditure is expected to boost the growth of the market. Further, increased tobacco consumption coupled with rise in the cancer population are among the major factors that are supporting the growth of the market. Additionally, rising rate of geriatric population and minimally invasive properties of proton therapy are expected to augment the growth of the market over the forecast period.
However, the average cost of proton therapy ranges approximately from USD 30,000 to USD 1,20,000. The high cost associated with proton therapy in the treatment of cancer is anticipated to limit the growth of the market over the forecast period.
The report titled “Proton Therapy Market: Global Demand Analysis & Opportunity Outlook 2027” delivers the detailed overview of the global proton therapy market in terms of market segmentation by product type, by application, by end user and by regions.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the global proton therapy market which includes company profiling of key companies such as Hitachi, Mevion, Varian, Optivus, Mitsubishi, IBA, ProNova, Sumitomo and Elekta.The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global proton therapy market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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