The global Proton Therapy Systems market size is expected to be worth around US$ 12.88 billion by 2030, according to a new report by Vision Research Reports.
The global Proton Therapy Systems market size was valued at US$ 2,099.2 million in 2020 and is anticipated to grow at a CAGR of 13.1% during forecast period 2021 to 2030.
The market is primarily driven by increasing number of proton therapy centers, rising number of cancer cases, and growing investments by hospitals to establish these centers.
Growing funds & investments by hospitals, manufacturers, and private investors are also contributing to the growth of this market. For instance, in August 2015, Mevion Medical Systems (U.S.) raised USD 200 million in an equity funding led by HOPU Investments (China) and YuanMing Capital (China). These funds are likely to be used for development of technologically advanced and low-cost products. Furthermore, governments across various geographies are including budgets for establishment of these centers. For instance, in July 2015, the state government of Victoria included nearly AUD 2 million (USD 1.53 million) to develop a National Centre for Proton Beam Therapy at the Victorian Comprehensive Cancer Centre (VCCC). The new center is expected to offer treatment to the patients in Australia.
In addition, rapid increase in the number of cancer cases globally is anticipated to bolster market growth during the forecast period. According to American Cancer Society, an estimated 1,688,780 new cancer cases are expected to be diagnosed in the U.S. and this disorder is likely to cause nearly 600,920 deaths in 2017. Furthermore, according to The Lancet, the number of women diagnosed with breast tumors is estimated to reach 3.2 million by 2030, which is almost double of 1.7 million in 2015.
Favorable reimbursement policies in the U.S and European countries and rising cancer-related healthcare expenditure in emerging nations is likely to propel the global proton therapy systems market. In addition, decreasing cost of proton therapy, increasing awareness, and rising adoption are expected to boost demand for these systems during the forecast period. However, high costs involved in the establishment of these centers and lack of reimbursement in emerging nations is likely to restrain growth in the coming years.
The proton therapy systems market is segmented into equipment and services based on product offerings of various manufacturers. In 2020, the equipment segment held the largest share, by product. Technological advancements and growing adoption of PT are key factors responsible for the largest share of this segment. Furthermore, increasing prevalence of cancer, rising hospital investments, and decreasing costs of equipment are other key factors responsible for the largest share of this segment.
The services market is likely to experience sluggish growth during the forecast period. Increasing number of PT equipment, installation, and their rising usage can be attributed to growth of this segment. Technological advancements in single-room equipment are further expected to propel the demand for PT services as their installation time is less and are less priced.
In the recent years, there has been a significant rise in the number of proton therapy centers globally. According to the Particle Therapy Cooperative Group (PTCOG), the number of centers in 2014 was 14% greater than 2013. Moreover, this number is expected to reach 100 by the end of 2018. In addition, according to IBA, the number of proton therapy rooms in 2015 was 270 and this number is likely to reach 4,360 by 2035.
The market, based on types of systems used, is segmented into single-room systems and multiroom systems. In 2016, multiroom systems segment contributed to the largest share of 66.2% of the market by type. Multiroom equipment are more economic as they use one system to deliver treatment to more than two rooms simultaneously. Additionally, decreasing costs of multiroom equipment and investments of large hospitals in establishment of multiroom center can be attributed to a large share of this segment.
However, single-room equipment segment is expected to account for the largest share of 62.5% in 2025. Increasing investments by hospitals, rising partnerships between manufacturers & hospitals, and low costs of these equipment are likely to be the key factors that can be attributed to the growth of this segment. Furthermore, these systems are comparatively smaller in size and require less time & space for installation.
Furthermore, technological advancements in single-room equipment is expected to propel their demand during the forecast period. The market has witnessed increasing number of regulatory approvals for single-room systems in the recent years. For instance, in July 2014, Ion Beam Applications SA (Belgium) received FDA approval for ProteusONE, a next-generation compact single-room system. Similarly, in January 2014, Varian Medical Systems, Inc. (U.S.) received FDA approval for ProBeam proton therapy system.
Asia-Pacific dominated the market in 2016 with a revenue share of around 66.6%. Increasing prevalence of cancers and favorable reimbursement scenario are key factors likely to propel the demand for PT products in the region. Furthermore, growing hospital investments for the establishment of new centers and increasing awareness about advantages of this treatment procedure are expected to contribute to market growth during the forecast period. Other factors that are likely to propel growth are large patient population with cancer, growing number of hospitals & healthcare facilities with improving infrastructure, and low costs of proton therapy. Several foreign investors are interested in investing in emerging markets such as India, China, and Singapore, which have a large population base and high unmet needs.
Furthermore, increasing medical tourism, affordability of treatment, ease of access, government support, and emergence of new medical tourism destinations in Asian countries are expected to contribute to growth in this region. South Korea, Singapore, India, and China are some popular medical tourist destinations in Asia Pacific, which are expected to experience a boom in the coming years.
The developed nations like North America and Europe are expected to experience sluggish growth in the coming years. Availability of finances to establish new centers and favorable reimbursement scenario are likely to contribute to the growth of these regions. Additionally, middle eastern countries are expected to offer significant opportunities primarily due to increasing spending on development of hospital infrastructure and low cost for proton therapy treatment.
IBA, Optivus Proton Therapy, Inc., Mevion Medical Systems, Advanced Oncotherapy plc, Varian Medical Systems, ProTom International, Hitachi, Ltd., Mitsubishi Corporation, ProNova Solutions LLC, and Sumitomo Heavy Industries, Ltd.
The Proton Therapy Systems market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Proton Therapy Systems market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Proton Therapy Systems market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Proton Therapy Systems market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Proton Therapy Systems market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Proton Therapy Systems capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Proton Therapy Systems by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Proton Therapy Systems market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Proton Therapy Systems market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Proton Therapy Systems market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Proton Therapy Systems industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Proton Therapy Systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Proton Therapy Systems market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Proton Therapy Systems market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Proton Therapy Systems market. These factors have benefited the growth of the global market for Proton Therapy Systems. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Proton Therapy Systems. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Proton Therapy Systems are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
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