Proton Therapy Systems Market 2022
The Proton Therapy Systems Market is likely to grow on an incessant note in the forecast period, reaching US$ 2.92 Bn between 2020 and 2024. With IoT being an indispensable part of the digital world, the new term on this count is IoMT (Internet of Medical Things). These devices are not only wearable but also injectable or ingestable under skin. They are of great use in monitoring state of mental well-being and health. IoMT would thus be the future of ABC market going forward.
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Growing prevalence of cancer has prompted medical organizations towards development and adoption of advanced treatment procedures, such as proton radiotherapy. The effectiveness of proton therapy continues to gain trust of cancer patients across the globe.
The procedure is known for successfully destructing tumor cells by damaging their DNA through a targeted deposition of high-energy radiation dosage onto the tumor. Furthermore, doctors treating cancer patients are also benefiting from the feasibility of proton therapy as it can be used in conjunction with other treatments.
Company Profiles
- Hitachi Ltd.
- Ion Beam Applications SA
- Mevion Medical Systems
- Mitsubishi Electric Corporation
- ProNova Solutions, LLC
- ProTom International
- Sumitomo Heavy Industries Ltd.
- Varian Medical Systems
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In the report, titled “Proton Therapy Market: Global Industry Analysis and Forecast, 2016-2024,” the global market for proton therapy is presently valued at closed to US$ 945 Mn and is projected to soar at a healthy CAGR of 15.2%.
The report estimates that governments from all corners of the globe will continue to shore up their healthcare expenditure on cancer care facilities, which will incidentally boost the revenues in global proton therapy market. Additional benefits of availing proton therapy, compared to chemotherapy or radiation therapy, will also instrument a steadfast revenue growth for the market.
Based on a regional analysis compiled in the report, North America is projected to account for a little less than one-third share of global proton therapy revenues throughout the forecast period. However, Europe’s proton therapy market will dominate with close to 38% share and showcase revenue growth at 15.7% CAGR.
Key highlights of the research report on global proton therapy market follow:
The market is likely to benefit from companies manufacturing compact set up used in proton beam therapy, which help in saving production costs without impairing product efficacy
Based on such set ups, multiple-room proton therapy will gain traction by accounting for more than three-fourth of global revenues towards the end of forecast period
Among multiple cancer indications, the adoption of proton therapy will be relatively higher for treatment of lung cancer, gastro-intestinal cancer, pediatric cancer, head & neck cancer
Flexible payment options are also boosting the supply of proton therapy devices, while affordability of such devices continues to be a major challenge
The report also predicts that the demand for proton therapy will be impacted by the therapy’s side-effects which include fatigue, skin irritation, swelling and skin blistering
Nonetheless, the market will witness opportunistic growth in terms of rising preference to non-invasive treatment of cancerous tumors
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