Particle Therapy Market Analysis

Particle Therapy Market Analysis

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By type, the particle therapy market is classified into proton therapy and heavy ion therapy. The proton therapy segment accounted for 72.7% of the market share in 2022 and is projected to witness significant growth over the analysis timeframe. The effectiveness of proton therapy is notably strong when dealing with paediatric cancers and intricate tumours situated near vital organs. Its ability to spare healthy tissues from unnecessary radiation exposure is crucial in these cases, making it a preferred option when considering the long-term well-being of patients, especially children. Furthermore, investments in research and development have led to the development of more compact and cost-effective proton therapy systems, making it feasible for a broader range of healthcare facilities to offer this advanced treatment option. Such aforementioned factors are expected to accelerate market statistics.
 

Based on product & services, the particle therapy market is segmented into product and services. The product segment accounted for 76.8% of the market share in 2022. The product segment is bifurcated into synchrotrons, cyclotrons, and synchrocyclotrons. Synchrotrons contribute to the advancement of research and innovation in particle therapy. Their versatile design allows for the exploration of various particle types and energies, enabling the development of tailored treatment plans for different cancer types. The versatility of synchrotrons also facilitates the conduct of cutting-edge experiments to refine treatment techniques and maximize therapeutic outcomes. Furthermore, the growing collaboration between research institutions and healthcare facilities in harnessing synchrotrons for particle therapy research contributes to their expansion.
 

Based on system, the particle therapy market is segmented into multi-room systems and single-room systems. The multi-room systems segment is projected to witness significant growth of 8.9% over the analysis timeframe. Multi-room systems notably enhance patient throughput and operational efficiency, allowing healthcare providers to concurrently treat multiple patients within a single facility. This efficient approach effectively reduces treatment waiting times and optimizes the utilization of valuable resources, thereby driving market growth. Furthermore, growing product approvals, launches, and partnerships among the companies are anticipated to escalate market demand.
 

Based on cancer type, the particle therapy market is segmented into pediatric cancer, lung cancer, bladder cancer, brain & spinal cord cancer, head & neck cancer, breast cancer, gastrointestinal cancer, and other cancer types. The lung cancer segment accounted for 15.5% of the market share in 2022 and is projected to witness significant CAGR over the analysis timeframe. Increasing prevalence of lung cancer across the globe is expected to accelerate segmental growth. For instance, according to the GLOBOCAN study carries out by the International Agency for Research on Cancer, in 2020, lung cancer was the major cause holding for the largest number of approximately 1.8 million cancer associated deaths followed by colorectal accounting for 9.4%, liver for 8.3%, stomach for 7.7%, and female breast cancer for 6.9%. Thus, the mounting burden of cancer will surge the investment in cancer research, thereby fostering market size.
 

North America particle therapy market accounted for 46% market share in 2022 and is anticipated to grow at considerable growth rate during the forecast timeframe. A significant driver propelling the growth of the market in North America is the region's robust research and development landscape coupled with substantial investments in healthcare innovation. This conducive environment fosters the continuous evolution of particle therapy technologies, leading to advanced treatment modalities and refined techniques. Additionally, the presence of prominent research institutions and collaborations between academia and healthcare facilities accelerates the validation and adoption of particle therapy. Furthermore, North America's emphasis on precision medicine and patient-centric care aligns well with the precision and tailored approaches that particle therapy offers, thereby boosting regional market statistics.