Proton therapy is a specialized form of external beam radiation therapy that uses protons rather than X-rays to treat cancerous tumors. Proton therapy can target tumors with increased precision, limiting radiation exposure and damage to healthy tissues surrounding the tumor. This allows proton therapy to treat some cancer types that are difficult to treat with other radiation therapies. However, proton therapy equipment and treatment costs are higher compared to traditional X-ray radiation therapy.
The global Proton Therapy Market is estimated to be valued at US$ 2,763.2 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Improving reimbursement policies for proton therapy in key markets is expected to significantly drive the growth of the proton therapy market over the forecast period. Many private and public health insurance plans in countries like the U.S. have increased their coverage for proton therapy treatment over the last few years. This is encouraging more patients to opt for proton therapy, even for cancer indications where its benefits over photon therapy may be limited. As clinical evidence demonstrating the advantages of proton therapy accumulates, major insurance providers and public healthcare programs are increasingly recognizing proton therapy as a standard treatment option. This growing reimbursement favorability is projected to boost the installation of new proton therapy centers worldwide in the coming years.
Segment Analysis:
The global proton therapy market is dominated by the application segment for cancer treatment. Proton therapy is gaining increased prominence and acceptance in effective cancer treatment as it can target cancerous tumors with more precision as compared to traditional photon-based radiotherapy. It also enables doctors to escalate the radiation dose to tumor tissues while minimizing unwanted exposure to surrounding healthy tissues. This property of proton therapy makes it especially suitable for treating cancers located near vital and sensitive areas of the body like brain and spine.
Key Takeaways:
The Global Proton Therapy Market Growth is expected to witness high over the forecast period of 2023 to 2030 supported by rising cancer incidence worldwide and increasing awareness about the benefits of proton therapy.
Regional analysis
North America currently dominates the global proton therapy market and is expected to continue its lead over the forecast period. This can be attributed to factors such as presence of advanced healthcare infrastructure, favorable reimbursement policies for cancer treatment, and growing adoption of innovative technologies for cancer treatment in the region. Moreover, increasing investments by major market players for expanding their proton therapy centers in the US is also driving the North American market.
Key players:
Key players operating in the proton therapy market are Hitachi Ltd., Ion Beam Applications S.A, Mevion Medical Systems, Mitsubishi Electric Corporation, Provision Healthcare, ProTom International, Sumitomo Heavy Industries, Varian Medical Systems, Optivus Proton Therapy, Inc., and Advanced Oncotherapy plc. Varian Medical Systems has emerged as the global leader with over 50 centers installed worldwide. Hitachi and Ion Beam Applications are also expanding their network of proton therapy centers globally to strengthen their market positions.
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