Jan 16, 2020 1:36 AM ET
Proton Therapy Market is Estimated to Reach Revenue of $2.51bn by 2025 From $1.32bn from 2018
iCrowd Newswire -
Jan 16, 2020
The Proton Therapy Market is estimated to reach revenue of $2.51bn by 2025 from $1.32bn from 2018, growing at a CAGR of 13.5% during the forecast period 2019-2025. The growth of the proton therapy market
is owed to the ability or potential to lower the risk of side effects arising from the drugs in the market. Increased demand for proton radiotherapy has led to a significant increase in cancer centers in the world to establish proton therapy treatment.
- Proton Therapy is the most accurate and precise form of radiation therapy used in treatment of cancer. Particle therapy facility used has numerous limitations and Proton therapy overcame all the defects arises.
- Proton radiation can be delivered using scattered proton technique where protons enters on a relatively constant scattered radiation dose. Earlier synchrocyclotron was used to deliver the energy protons. Now, Isochronous cyclotrons is used which delivers high energy protons for therapy. Proton therapy includes external beam radiotherapy that uses ionizing radiation. Because of ionization, the radiation damages molecules within the cells, especially the DNA.
- Major players in the Proton Therapy market are Ion Beam Applications, Varian Medical Systems, Fermilab Scientists, Optivus and Hitachi.
- Proton Therapy obtain huge advantage over conventional radiation therapy due to the limited side effects and the painless treatment mechanism which helps to maintain the better quality of life for the patients.
- It allows physicians to deliver higher treatment dosages that eliminates the major tumor cells without affecting surrounding healthy tissue or organs.
- Introduction of LIGHT, which is the first commercial 3GHz linac system for proton therapy for active spot scanning mechanism using beam detection methods.
By Application – Segment Analysis
On the basis of Application, lung cancers segment is estimated to be the major segment due to the huge increase in lung cancer deaths in 2018 and accounted to a growth rate of 7.1% during the forecast period 2019-2025. According to WHO, Lung cancer is responsible for the largest number of deaths (1.8 million deaths, 18.4% of the total), followed by colorectal cancer and prostate cancer.
Geography – Segment Analysis
North America is estimated to hold highest share, of 36% in the market in 2018 due to the rising ageing population and the increasing number of cancer patients. As the awareness and adoption of proton therapy increases, the market became widened. To develop this, the facilities and availability of centers for treatment have also increased. According to The National Association for Proton Therapy, there are 25 centers and 11 centers are under construction in U.S. providing proton therapy treatment across the United States which consists of labs, therapy centers etc.
Drivers – Proton Therapy Market
- Increasing Cancer Prevalence:
The market is driven by increasing number of cancer patients worldwide which further increase the demand for proton therapy in the market. According to WHO, The global cancer burden is estimated to have risen to 18.1 million new cases and 9.6 million deaths in 2018.
- Higher Aging Population and Awareness among the public
The demand for this form of treatment is expected to make a huge rise as an increasing number of medical professionals and patients are eager to know more about the proton therapy treatment process. And the rise in generic population further propelled the growth in the market. According to ‘Our world in data’ article approximately 70% of known cancer cases occur in those aged over 50, with 43 percent aged 50-69 and 27 percent aged over 70 years old.
Challenges – Proton Therapy Market
- Strict regulations prevailed in the market and barriers for implementation of the therapy procedures makes investors hesitant to enter in the market.
- High Therapy costs and insurance coverage issue became a lethal issue for companies to invest in the market. Insufficient clinical evidence to state that proton therapy is superior to traditional radiation therapy is the major reason that restricts insurance coverage.
Companies are trying to create their own mark in the market by adopting new technologies at an accelerated rate. The company has also try to enrich their product catalogues through product developments. And many companies starts acquiring small companies to resolve the potential resource gap prevailed in their companies in the form of technologies, products etc. Companies are also starting investing in new technologies and research and development sector. For e.g. – Advanced Oncotherapy Plc completed £16 million in equity investments and £14 million in debt funding.
Proton Therapy Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Proton Therapy market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.
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Mr. Venkat Reddy
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