Proton Therapy Systems Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Proton Therapy Systems Market Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Setup Type (Single Room and Multi Room), Application (Brain and Central Nervous System Cancer, Head and Neck Cancer, Prostate Cancer, Breast Cancer, Lung Cancer, Gastrointestinal Cancer, and Others), and Geography (North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa)

Publication Month : Mar 2024

  • Report Code : TIPHE100001160
  • Category : Medical Device
  • Status : Data Released
  • No. of Pages : 150
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[Research Report] The proton therapy systems market is projected to grow from US$ 1,262.45 million in 2022 to US$ 2,945.14 million by 2030; it is estimated to record a CAGR of 11.2% during 2022–2030.

Market Insights and Analyst View:

The proton therapy systems market forecast can help stakeholders in this marketplace outline their growth strategies.

A proton therapy system is an advanced medical device employed to provide a highly precise radiation treatment for tumors. These systems are huge in size, and they consist of an accelerator (cyclotron), beam transport system, energy selection system, and rotating gantry irradiation equipment. Due to its effectiveness in treating certain types of cancer, there has been a growing demand for proton therapy worldwide. Factors such as rising demand for advanced treatments with the surging cancer incidence, and increasing government support for proton therapy centers propel the proton therapy systems market growth. However, the high cost and large area of proton therapy systems hamper the growth of the market. Further, the growing adoption of personalized treatment approaches with technological advancements is expected to bring new proton therapy systems market trends in the coming years.

Growth Drivers:

Rising Demand for Advanced Treatments with Surging Cancer Incidence Drives Market Growth

As per the International Agency for Research on Cancer (IARC), lung, breast, and prostate cancer types had the highest incidence rate in 2022. These diseases have an age-standardized rate of 23.6, 47.1, and 29.4 cases per 100,000 population, respectively. According to the estimates by IARC, the number of total cancer cases is expected to jump from 19.98 million in 2022 to 23.71 million by 2030 and 30.97 million by 2045. Various cancer conditions, such as head and neck cancers (nasal, oral, eye, and larynx) and brain cancers have precise treatment requirements, which results in a high demand for advanced treatment approaches such as intensity-modulated proton therapy (IMPT). In traditional radiation therapies, such as X-ray radiation therapy, the healthy tissue around the tumor also receives a dose of radiation, which leads to side effects and may cause secondary cancers. However, proton therapy aids in the effective treatment of complicated tumors in the brain, and head and neck region while minimizing the collateral damage to nearby tissues. Thus, the high prevalence of cancer and demand for advanced treatments boost the demand for proton-based radiotherapy, fueling the proton therapy systems market growth.

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Proton Therapy Systems Market: Strategic Insights

proton-therapy-systems-market
Market Size Value inUS$ 1,262.45 million in 2022
Market Size Value byUS$ 2,945.14 million by 2030
Growth rateCAGR of 11.2% from 2022 to 2030
Forecast Period2022-2030
Base Year2022
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Restraint:

High Cost and Large Area of Proton Therapy Systems

A proton therapy system is an advanced medical device used in highly precise radiation treatment for tumors. It is a huge medical device that consists of an accelerator (cyclotron), beam transport system, energy selection system, and rotating gantry irradiation equipment, which results in large surface areas and high cost of equipment. According to the University of Pennsylvania (Oncolink), cyclotrons of the proton therapy systems weigh up to 200 tons and have 6–12 feet of diameter. The gantry can be 100 tons in weight and 40 feet in diameter. According to a study published (2021) in IOPscience, even the compact design (single-room setup) entails an area of 100 sq. m., while multi-room proton therapy systems occupy 200–400 sq. m. of area.

Further, proton therapy systems are highly capital-intensive. For instance, a single-room system may cost nearly US$ 30–50 million. The cost of multi-gantry proton systems may start from US$ 300 million onwards, and they are usually installed only in large hospitals and university systems. Therefore, high capital investment requirements and large installation areas are among the factors hindering the growth of the proton therapy systems market.

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Report Segmentation and Scope:

The proton therapy systems market analysis has been carried out by considering the following segments: setup type and application.

By setup type, the market is bifurcated into single room and multi room. The multi room segment held a larger proton therapy systems market share in 2022. Further, the single room segment is anticipated to register a faster CAGR during the forecast period.

Proton Therapy Systems Market, by Setup Type  – 2022 and 2030

 

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The market, by application, is categorized into brain and central nervous system cancer, head and neck cancer, prostate cancer, breast cancer, lung cancer, gastrointestinal cancer, and others. The brain and central nervous system cancer segment held the largest proton therapy systems market share in 2022, and it is anticipated to register the highest CAGR during the forecast period.

Regional Analysis:

In terms of geography, the scope of the proton therapy systems market report includes North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In 2022, North America accounted for the largest market share. The growing acceptance and adoption of the latest medical devices, the high prevalence of cancer, and product innovations by key players contribute to the expansion of the proton therapy systems market size in North America. According to the American Cancer Society estimates, the US recorded ~1.95 million new cancer cases and ~0.61 million mortalities related to the disease in 2023, exhibiting a significant increase from 1.60 million cancer cases and 0.60 million deaths reported in 2020. As per the Particle Therapy Co-Operative Group, at the end of 2023, the US had the highest number of proton therapy systems globally, with 46 proton therapy treatment facilities.

Industry Developments and Future Opportunities:

A few strategic developments by leading players operating in the proton therapy systems market, as per the company press releases, are listed below:

  • In January 2024, OncoRay launched the prototype for a whole-body MRI-guided proton therapy system for the real-time tracking of moving tumors using magnetic resonance imaging (MRI) during proton therapy. The MRI aids in the visualization of tumors in enhanced contrast, which is its major advantage over conventional imaging modalities. Better contrast makes it possible to better delineate the tumor from surrounding healthy tissue and to define the volume to be irradiated with greater accuracy.
  • In December 2023, HKSH Medical Group opened a new proton therapy center at the HKSH Eastern Medical Centre in A Kung Ngam, Shau Kei Wan, Hong Kong. The new center features an advanced proton therapy system and two state-of-the-art treatment rooms. The system includes two half-rotating proton therapy gantries, the latest beam transport system, and a synchrotron-based accelerator.

Competitive Landscape and Key Companies:

Varian Medical Systems Inc, Sumitomo Heavy Industries Ltd, Hitachi Ltd, Ion Beam Applications SA, Mevion Medical Systems, Provision Healthcare LLC, ProTom International, Optivus Proton Therapy Inc, Advanced Oncotherapy plc, and B dot Medical Inc are among the prominent companies profiled in the proton therapy systems market report. These companies focus on developing new technologies, upgrading existing products, and expanding their geographic presence to meet the growing consumer demand worldwide.

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Setup Type, Application, and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

Frequently Asked Questions


What is a proton therapy system?

A proton therapy system is an advanced medical device employed to provide a highly precise radiation treatment for tumors. These systems are huge in size, and they consist of an accelerator (cyclotron), beam transport system, energy selection system, and rotating gantry irradiation equipment. Due to its effectiveness in treating certain types of cancer, there has been a growing demand for proton therapy worldwide.

What factors drive the proton therapy systems market?

Factors such as rising demand for advanced treatments with the surging cancer incidence, and increasing government support for proton therapy centers propel the proton therapy systems market growth. However, the high cost and large area of proton therapy systems hamper the growth of the market.

Who are the major players in the proton therapy systems market?

The proton therapy systems market majorly consists of the players, including Varian Medical Systems Inc, Sumitomo Heavy Industries Ltd, Hitachi Ltd, Ion Beam Applications SA, Mevion Medical Systems, Provision Healthcare LLC, ProTom International, Optivus Proton Therapy Inc, Advanced Oncotherapy plc, and B dot Medical Inc

What was the estimated proton therapy systems market size in 2022?

The proton therapy systems market was valued at US$ 1,262.45 million in 2022.

What are the growth estimates for the proton therapy systems market till 2030?

The proton therapy systems market is expected to be valued at US$ 2,945.14 million in 2030.

Which setup type segment dominates the proton therapy systems market?

By setup type, the market is bifurcated into single room and multi room. The multi room segment held a larger proton therapy systems market share in 2022. Further, the single room segment is anticipated to register a faster CAGR during the forecast period.

Which application segment dominates the proton therapy systems market?

The market, by application, is categorized into brain and central nervous system cancer, head and neck cancer, prostate cancer, breast cancer, lung cancer, gastrointestinal cancer, and others. The brain and central nervous system cancer segment held the largest proton therapy systems market share in 2022, and it is anticipated to register the highest CAGR during the forecast period.

The List of Companies - Proton Therapy Systems Market

  1. Varian Medical Systems Inc
  2. Hitachi Ltd
  3. Sumitomo Heavy Industries Limited
  4. Ion Beam Applications SA
  5. Mevion Medical Systems
  6. Provision Healthcare LLC
  7. ProTom International
  8. Optivus Proton Therapy Inc
  9. Advanced Oncotherapy plc
  10. B dot Medical Inc

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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