Industry Outlook

Interest in investing and developing in proton therapy has exponentially increased over the past few decades, including the clinical advantage of Bragg peak dose as against the conventional high-energy X-ray distribution of photons. This benefit allows higher dose of radiation therapy delivered to the location and the adjacent tissue compared to photon therapy. Additionally, technological evolution has allowed better accuracy and ease of use of proton therapy such as rotation gantry enabling treatment delivery in similar manner to X-ray therapy, better imaging, better treatment planning and improved patient immobilization. The financial investment in proton therapy is high, however, successful proton facility in any organization can enhance the reputation of the radiotherapy department and attract new patients. This will therefore assist in mitigating the high costs incurred in installation and operations.

The global proton therapy market is primarily driven by growing number of facilities, increasing toll of cancer cases and growing volume of investments for establishing advanced radiotherapy units. Increasing funding and investments by manufacturers, private investors and hospitals is a significant growth contributor to this market. Governments across both developed and developing nations are framing their budgets for establishment of such centers. Rapid increase in the cancer patient pool is further anticipated to strengthen the market growth during the forecast period. Varian Medical Systems projects that by 2030, more than 300,000 patients will be treated with proton therapy, therefore anticipating robust market potential.

Better reimbursements in North America and Europe, along with growing cancer treatment expenditure in developing nations will further propel the market growth. Initiatives by hospitals, radiologists, and manufacturers in creating awareness in patients about the advantages of proton therapy over conventional measures will further augment the influx of patients preferring proton therapy. This will in turn augment the potential of reducing overall treatment costs and hospitals opting for setting up proton therapy units in their facilities. Hence, growing awareness and increasing adoption of this treatment will collectively drive the market growth. Conversely, the current high costs of establishing proton therapy units, and uneven reimbursements in emerging nations are at present restraining the market growth.

"Multiple Rooms Systems to Face Significant Competition form Compact Systems Segment"

Based on the types of systems, the global proton therapy market is segmented into compact (single room) systems and multiple rooms systems. Between the two, multiple rooms systems are currently in high demand. In these settings, a single system deliver treatment to multiple patients simultaneously; this thereby is viewed as an economic mode of operation. The adoption of multiple rooms systems is observed to be significantly high in developed markets of North America and Western Europe, and particularly in large hospitals. However, the compact systems segment will gain prominent attention in terms of swift adoption through the forecast period. The capital investments in establishing single room systems in hospitals is relatively less. Therefore the demand for these systems shall be high in emerging markets of Asia Pacific, Latin America and Middle East & Africa. Furthermore, the time and space required for installation of these systems is also comparatively less, hence supporting its high demand in emerging regions.

"Pediatric Cancers to Have Prominent Market Potential"

Proton therapy has off late attracted attention as a potential radiotherapy modality for treating pediatric cancer. The dose to normal tissue with proton therapy can be reduced to the minimum to children, therefore minimizing the harmful radiation effects to the normal tissue. Proton therapy also reduced the risk of secondary cancer due to smaller amounts of normal tissue being irradiated. For instance, in Mirabell et al., it is predicted that the incidence of secondary cancer can be reduced to 15 fold with the use of proton therapy in the cerebrospinal region. Such results have urged policy makers to promote proton therapy for pediatric cancers.

"North America and Europe to Continue as the Largest Markets for Proton Therapy"

Based on al distribution, the global proton therapy market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Europe has the largest share in the global proton therapy market in terms of the number of operational rooms, the number of in-progress facilities is also impressive in the region. Considering the country-level distribution, the largest share in the global market is occupied by North America. Additionally, the volume of multiple-room systems is also high in the U.S. Conversely, the demand for single-room facilities is anticipated to be high throughout the global market, with particular steep growth in emerging markets of Asia Pacific. China and Japan are the most prominent markets for proton therapy systems in Asia Pacific. Japan is observed to be highly developed and well-structured market in the region, where the guidelines and further clinical research activities for exploring avenues for proton therapy are already well-developed and reported.

The major market players profiled in this report include Ion Beam Applications SA, Varian Medical Systems, Hitachi Ltd., ProNova Solutions LLC, Sumitomo Heavy Industries Ltd., Mitsubishi Electric Corporation, ProTom International, Inc., Optivus Proton Therapy, Inc., Mevion Medical Systems and Advanced Oncotherapy.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Proton Therapy market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Proton Therapy market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Proton Therapy market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Proton Therapy market?
• Which is the largest regional market for Proton Therapy market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Proton Therapy market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Proton Therapy market worldwide?