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Particle therapy is a modern method of treating cancer by using charged particles like protons and carbon ions to locate and destroy specific cells. Various factors influence the particle therapy market. Firstly, technological advancements have led to its growth. As research and development continue to make particle therapy more efficient and accurate, the demand surges in this market. Secondly, increasing global cancer cases are a major driver. The rise in cancer incidences has increased the need for better alternatives that are less invasive. Due to this aspect, particle therapy becomes an attractive alternative for both patients as well as healthcare providers since it can deliver high doses of radiation accurately to tumors while minimizing damage to surrounding tissues. Thus, greater demand leads to its expansion.
Furthermore, government initiatives and investments in healthcare infrastructure impact the particle therapy market. Governments worldwide have realized the potential benefits of particle therapy for cancer treatment outcomes and, therefore, fund the setting up of such centers through budgetary allocations. Factors like strategic collaborations, among others, influence the competitive landscape of the particle therapy market. In many cases, these companies within this market form alliances with other firms to strengthen their product portfolios, enhance their research capabilities, and expand their geographical presence. The overall growth of the market is supported by associations between technology developers, healthcare institutions, and research organizations, which encourage innovation.
Additionally, awareness creation among health professionals and the general public about the advantages brought about by Particle Therapy plays a significant role during the market creation process. As people become more conversant with revolutionary treatment options like this one, there is an increase in the acceptance of both medical practitioners and patients. Educational programs/activities contribute greatly towards improving perceptions of Particle Therapy, hence boosting sales volumes. Challenges such as huge initial capital outlay can slow down expansion rates due to the limited number of these facilities globally. Particle Therapy centers are characterized by high building costs besides being extremely expensive to operate, thus making it difficult for most healthcare organizations to set them up. Furthermore, the lack of a skilled workforce to handle particle therapy has also increased the challenges experienced within the industry. Overcoming these barriers in their entirety requires ongoing investment, investigation, and cooperation across the entire healthcare ecosystem.
Particle Therapy Market Highlights:
Global Particle Therapy Market Overview
Particle Therapy Market Size was valued at USD 1.40 Billion in 2023. The Global Particle Therapy industry is projected to grow from USD 1.70 Billion in 2024 to USD 2.40 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.89% during the forecast period (2024 - 2032).
Particle therapy is one of the most advanced types of external beam radiation therapy for oncology in the world. This method saves more healthy radiation tissue than traditional photon therapy.
These particles have better physical intrinsic qualities, lowering the intake dose to about half of what a clinically appropriate target would be. The market is predicted to develop because of the rising prevalence of cancer, low risk of treatment-induced illnesses, the opportunity for retreatment due to low radiation dose, and the growing number of particle therapy facilities around the world.
Furthermore, increased R&D spending and aggressive methods used by leading companies, such as new product releases, are driving market expansion. The advantages gave by particle therapy, as well as the rising global occurrence of cancer, are driving market expansion. A major driving element for this market has been discovered to be the number of persons suffering from various cancers. Cancer is one of the most common life-threatening diseases nowadays. Cancer kills around 70% of people in low and middle-income nations. Because particle treatments are used to treat cancer, their increasing prevalence is projected to be a major driver of market expansion.
In January 2024, The National Association for Proton Therapy (NAPT), the foremost organization committed to enhancing patient access to advanced cancer treatments, announced the release of a study in the International Journal of Radiation Oncology-Biology-Physics. This study delves into the utilization of proton therapy for an expanding array of medical conditions and tumor sites.
In October 2023, The National Cancer Centre Singapore (NCCS) received a proton therapy system from Hitachi, Ltd. and Hitachi Asia Ltd., and NCCS has finished treating its first patient with it. With this, Hitachi's first proton therapy system in Southeast Asia will begin treating patients.
Particle Therapy Market Segment Insights
The Global Particle Therapy Market has been segmented on the basis of type, product & service, cancer type, system, and application.
Particle Therapy Type Insights
On the basis of type, the market has been classified as proton therapy and heavy ion therapy.
Particle Therapy Product and Services Insights
The market, by product and services, has been segmented into products and services. Products are further segmented into cyclotrons, synchrotrons, and synchrocyclotrons.
Particle Therapy Cancer Type Insights
Based on cancer type, the market has been segmented into prostate cancer, lung cancer, pediatric cancer, head and neck cancer, breast cancer, and others.
Particle Therapy System Insights
The market, by system, has been segmented into multi-room systems and single-room systems.
Particle Therapy Application Insights
On the basis of application, the market has been classified as treatment applications and research applications. The pediatric cancer segment is expected to hold the largest market share of the particle therapy market, by cancer type, during the forecast period. Also, research applications to register the highest CAGR in the global market during the forecast period.
Particle Therapy Regional Insights
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada. The European particle therapy market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The particle therapy market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The particle therapy market in the Middle East & Africa has been segmented into the Middle East and Africa.
Regional Market Summary
The Americas are likely to dominate the global particle therapy market owing to the rising prevalence of cancer patient, increasing funding & investments by manufacturer, and government focused for establishment of centers for treatment. According to the U.S. Department of Health and Human Services, in 2018, around 1,735,350 new cases of cancer will be diagnosed in the United States and 609,640 people will die from the disease.
The European market is expected to be the second-largest Particle Therapy market. The market growth in this region can be attributed to government funding and support of the healthcare sector coupled with increasing research and development. Moreover, favorable reimbursement policies in European countries are contributing to the growth of the market in this region.
Asia-Pacific is expected to be the fastest-growing particle therapy market during the forecast period owing to the increasing prevalence of cancer, rising investments in healthcare and expansions by market players in the region. Also, country such as India and China are considering fastest growing region due to the presence of huge patient population. Moreover, the government of these countries are open to adopt new technology, and best treatment option from a developed country. According to the International Agency for Research on Cancer, in 2018, India has a prevalence of 173.5 cancer patients per 100,000 population. Moreover, in China, the prevalence rate of cancer was 377.6 patients per 100,000 population in 2018.
The market in the Middle East & Africa is expected to account for the smallest share of the global Particle Therapy market due to an underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.
Particle Therapy Market Top Key Players
Some of the key players in the global particle therapy market are
- Advanced Oncotherapy PLC.
- Danfysik A/S
- Hitachi, Ltd.
- Ion Beam Applications Sa (IBA)
- Mevion Medical Systems, Inc.
- Optivus Proton Therapy, Inc.
- Protom International, Inc.
- Provision Healthcare, LLC
- Sumitomo Heavy Industries, Ltd.
- Varian Medical Systems, Inc.
Particle Therapy Market Segmentation
Particle Therapy Type Outlook
- Proton Therapy
- Heavy Ion Therapy
Particle Therapy Product & Service Outlook
- Products
- Cyclotrons
- Synchrotrons
- Synchrocyclotrons
- Services
Particle Therapy Cancer Type Outlook
- Prostate Cancer
- Lung Cancer
- Pediatric Cancer
- Head and Neck Cancer
- Breast Cancer
- Others
Particle Therapy System Outlook
- Multi-Room Systems
- Single-Room Systems
Particle Therapy Application Outlook
- Treatment Applications
- Research Applications
Particle Therapy Regional Outlook
- Americas
- North America
- US
- Canada
- South America
- Europe
- Western Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Western Europe
- Eastern Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- The Middle East & Africa
- Middle East
- Africa
Recent Development
In July 2023, Hitachi, Ltd. delivered a proton therapy system to the HKSH Medical Group ("HKSH"), which includes Hong Kong Sanatorium and Hospital. The system has begun treatment, signaling the start of proton therapy treatment services in Hong Kong.
In May 2022, Mevion Medical Systems has been selected to install a MEVION S250i Proton Therapy System with HYPERSCAN Pencil Beam Scanning (PBS) in a comprehensive hospital in Southern China.
In April 2022, The Connecticut Office of Health Strategy (OHS) approved with conditions, the certificate of need application to allow Harford HealthCare Corporation and Yale New Haven Health Services Corporation to establish proton therapy services through a newly established joint venture, Connecticut Proton Therapy Center, LLC.
In December 2021, Moffitt announced proton therapy treatment facility as part of its ongoing expansion and will allow radiation oncologists to treat cancer with precisely directed doses of radiation, which protects healthy tissue.
in September 2021, ProTom International entered into an agreement with the Behnke Group. The relationship would enhance ProTom's expansion of United States markets through connections with the Behnke Group's network in the industry, allowing a greater number of cancer patients to benefit from ProTom's world-class proton therapy treatments. Also, in April 2020, Mevion Medical Systems received a medical device license from Health Canada for MEVION S250i Proton Therapy System with HYPERSCAN Pencil Beam Scanning (PBS).
A comprehensive hospital in Southern China has been awarded to install a MEVION S250i Proton Therapy System with HYPERSCAN Pencil Beam Scanning (PBS) by Mevion Medical Systems scheduled for completion in May 2022.
Moreover, The Connecticut Office of Health Strategy (OHS) approved, with conditions, the certificate of need application to allow Harford HealthCare Corporation and Yale New Haven Health Services Corporation to establish proton therapy services through a newly established joint venture, Connecticut Proton Therapy Center, LLC in April 2022.
In addition to that, IBA Worldwide announced a collaboration agreement with Tractebel in April 2021. This will fill the niche of proton therapy design and construction projects for IBA’s clients.
For example, Moffitt Cancer Center announced its plans for a new proton therapy treatment facility in December 2021 that will offer precise radiation doses while sparing healthy tissues from damage.
Thus, Behnke Group was contracted by ProTom International in September 2021. To expand into the United States market, this association would increase the number of referrals made to ProTom from cancer patients who would be better served by having access to their best-in-class proton therapies through industry-leading contacts held by Behnke Group.
Hitachi Ltd. also revealed plans for an advanced proton therapy system at Clinica Universidad de Navarra in Spain in May 2020. It is powered using spot scanning technology that dispatches protons straight into tumors.
Also worth noting is that in April 2020, Mevion Medical Systems was awarded a medical device license from Health Canada for MEVION S250i Proton Therapy System with HYPERSCAN Pencil Beam Scanning (PBS).
Advanced Oncotherapy plc stated in December 2017 that it has secured new finance of USD 46.75 million, with USD 37.5 million coming from a new Chinese investor. During the assessment period, the lack of an acceptable reimbursement mechanism and the significant expenditures associated with the development of these centers may stifle particle therapy market expansion. In 2017, Mitsubishi Electric agreed to sell its particle therapy systems business to Hitachi and merge the two companies into one. Hitachi was able to strengthen its position in the proton therapy business as a result of this. The first compact proton therapy system in the Middle East was developed by Royal Philips (US) and Proton Partners International (UK) in collaboration with IBA (Belgium).
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