A new market study, titled "Discover Global Proton Therapy Market Upcoming Trends, Growth Drivers and Challenges" has been featured on WiseGuyReports.
The rising popularity of Proton Therapy is on an ever high across the globe. Driven by factors such as increasing cancer prevalence, higher ageing population and rising health expenditures, the global proton market witness a growth today. More than 165000 patients are estimated to suffer from various forms of cancer such as Prostrate cancer, brain tumours etc. The Proton Therapy market is likely to double by 2024 from its current value, right on track to become a multibillion-dollar industry.
The number of proton therapy centres across the globe are increasing and anticipated to increase year on year which in turn, will result in more clinical research, better clinician understanding and greater patient awareness of its benefits-which will help drive the further growth. The Proton Therapy market is segmented into application and geography. Basis application, the market is further segmented into lung cancer, prostrate cancer, breast cancer, paediatric conditions and others. On the other hand, geographically, the market is segmented into North America, Europe, Asia Pacific and LAMEA. Globally, the numbers of patients treated with Proton Therapy is very low whereas; the potential candidates for proton therapy are in Millions. Industry experts therefore believe that players will miss out on a majority of cancer patients who can benefit with proton therapy, overlooking a huge multi-Billion-dollar potential market.
United States retains its dominant position throughout the forecasting period owing to the highest market share capture of the proton market therapy. US has the largest number of proton therapy centres and many are in development phase or under construction.
Estimated to grow with double digit rate during the period 2018-2024 in Asia, the proton therapy market in Asia represents a huge opportunity. Since it accounts for 60% of the global population and half the global burden of cancer, the incidence of cancer cases is estimated to increase to nearly 11 Million in 2030, due to ageing and growing population, lifestyle and socioeconomic changes. Japan is the leading market for proton therapy in India followed by China, owing to its large base of people suffering from cancer.
Proton therapy is currently being used in the Europe for solid tumours in the body particularly, brain, spine, prostate and stomach. The European proton therapy market more than tripled in 2017 from the 2010 level. European countries are planning a rapid increase in their proton beam therapy provision in the next few years; Germany, Italy, Sweden and France are all setting up new centres. The European proton therapy market is likely to grow with double digit CAGR during the period 2018 – 2024.
Key Players of Global Proton Therapy Market =>
Globally, IBA dominates the proton market therapy today. The other key players include Varian, Mitsubishi, Mevion, Hitachi, etc. who have also started to make their presence felt in the market.
Proton Therapy is one of the most precise, superior and advanced form of radiation therapy, used mainly in the treatment of cancer. Given its significant benefits over conventional radiation therapy in terms of its side effects and efficacy, the demand for this treatment form is expected to rise steeply within the medical professionals and patients alike.
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