The global proton therapy market is Expected to Exceed at US$ 4,494.0Mn by 2027.
Summary:According to Coherent Market Insights, Single Room segment in the global proton therapy market was leading by US$ 407.3 Mn in 2019,and is expected to exhibit a CAGR of 11.6%% between 2020-2027.
The protons move through the body, they slow down and interact with electrons, and release energy.Standard radiation therapy has evolved and improved over the years and is effective in controlling many cancers.The growth of the proton therapy can be attributed to increasing number of cancer cases such as prostate cancer, lung cancer and brain tumor and improvement in insurance coverage for treatment of cancer.
For instance, in March 2020, Stantec, a design and construction firm, delivered Johns Hopkins Hospital (U.S.) a new medical facility devoted specifically to proton therapy.
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Technological advancements in single-room equipment are further expected to propel the demand for PT services as their installation time is less and are less priced.However,In the recent years,there has been a huge growth in the number of proton therapy centers on global platform.
· Europe region held dominant position in the global proton therapy market in 2014, accounting for 37.2% share in terms of volume, followed by North America.
· The market is witnessing increasing installation of standalone proton therapy centers.For instance,According to IBA, the number of proton therapy rooms in 2015 was 270 and this number is likely to reach 4,360 by 2035.
Major players operating in the global proton therapy market include, Hitachi Ltd., Ion Beam Applications SA, Mevion Medical Systems, Mitsubishi Electric Corporation, ProNova Solutions, LLC, ProTom International, Sumitomo Heavy Industries Ltd., and Varian Medical Systems.
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Increasing prevalence of cancers and favorable reimbursement scenario are key factors likely to propel the demand for PT products in the Asia Pasific region. Currently, proton therapy is available in major developed countries such as Switzerland, Austria, U.S., China, Denmark, Japan, Netherlands, and Russia. South Korea,Singapore,India and China are some popular medical tourist destinations in Asia Pacific, which are expected to witness immense growth in the next few years.
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Reference:Coherent Market insight
