Radiotherapy: Global Market Analysis by Type, Technology, Procedure, Application, End-user & Region, Forecast to 2028
Global Particle Therapy Market
Dublin, Feb. 07, 2024 (GLOBE NEWSWIRE) -- The "Radiotherapy Market by Type (Product, Service), Technology (MRI LINAC, Stereotactic, Particle Therapy, Cobalt-60 Teletherapy), Procedure (IMRT, IGRT, 3D-CRT, LDR, HDR), Application (Prostate, Breast, Lung), End User (Hospital) & Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global particle therapy market is projected to reach USD 1.1 billion by 2028 from USD 0.7 billion in 2023, growing at a CAGR of 8.2% during the forecast period. The projected surge in market growth for the Particle therapy market is seen due to an increase in cancers, advancements in technologies, and increased awareness among individuals regarding cancer, Increased funding for cancer research. Prominent players in the particle therapy market are Varian Medical Systems, Inc. (US), IBA Worldwide (EU), and Hitachi (Japan) among others.
The Paediatric application segment to register highest CAGR over the forecast period of 2023-2028
Based on the cancer type, the Particle therapy market is segmented into pediatric cancer, breast cancer, lung cancer, prostate cancer, head and neck, and other cancers. Pediatric cancer has witnessed the highest growth rate In 2022. The increase in Paediatric cancers can be seen due to the following reasons genetic predisposition, developmental factors in infants, immature immune system, environmental exposures, maternal factors, and cellular vulnerability among others.
Asia Pacific to register significant growth rate in the market during the forecast period
For the forecasting period 2023-2028, the APAC region is expected to register a significant growth rate in the market during the forecast period. Asia Pacific comprises India, China, Japan, Australia, South Korea, and RoAPAC. The Asia-Pacific (APAC) region has witnessed a significant increase in the market growth rate for the particle therapy market. There are several drivers that contributed to this growth:
The maturing demographic profile observed in APAC countries accentuates the imperative for efficacious cancer treatment modalities characterized by minimized treatment-related adverse effects. This resonance with the precision-driven attributes of the Particle therapy market substantiates its pivotal role in enhancing the market landscape.
The incorporation of multilingual patient care offerings within APAC hospitals, combined with the accessibility to advanced treatments like the Particle therapy market, confers a unique allure to the region, particularly among a diverse patient spectrum. This fusion of linguistic inclusiveness and state-of-the-art medical interventions significantly enhances the region's desirability as a favored healthcare destination, thereby fortifying its competitive position within the healthcare market landscape and concomitantly propelling the prominence of particle therapy market.
Research Coverage
The report studies the Particle therapy market based on type, system, product, application, cancer type, and region.
The report analyzes factors (such as drivers, restraints, opportunities, and challenges) affecting market growth.
The report evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders.
The report studies micro markets with respect to their growth trends, prospects, and contributions to the global Particle therapy market.
The report forecasts the revenue of market segments with respect to five major regions.
Key Attributes
Report Attribute | Details |
No. of Pages | 196 |
Forecast Period | 2023-2028 |
Estimated Market Value (USD) in 2023 | $0.7 Billion |
Forecasted Market Value (USD) by 2028 | $1.1 Billion |
Compound Annual Growth Rate | 8.2% |
Regions Covered | Global |
Market Dynamics
Drivers
Advantages of Particle Therapy Over Photon Therapy
Growing Prevalence of Cancer
Rising Adoption of Particle Therapy in Clinical Trials
Increasing Number of Particle Therapy Centers Worldwide
Technological Advancements
Restraints
Infrastructural Challenges in Healthcare Facilities
Affordability and Accessibility of Treatments
Unfavorable Reimbursement Policies and Limited Insurance Coverage for Particle Therapy
Opportunities
Growth Potential of Emerging Economies
Challenges
Difficulties in Visualizing Tumors During Particle Therapy Procedures
Potential for Unwanted Radiation Exposure
Case Study Analysis
Enhancing Patient Safety - RT's Role in Minimizing Radiation Risk in an Elderly Patient (90-Year-Old Female with a Medically Inoperable Early-Stage NSCLC)
Companies Profiled
Advanced Oncotherapy PLC
Danfysik A/S
Hitachi, Ltd.
IBA Worldwide
Mevion Medical Systems
Optivus Proton Therapy, Inc.
P-Cure, Ltd.
Protom International, Inc.
Provision Healthcare, LLC
PTW Freiburg GmbH
Sumitomo Heavy Industries Ltd.
Toshiba Medical Systems Corporation
Varian Medical Systems, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/w1r4wb
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
