Selbyville, Delaware, April 29, 2024 (GLOBE NEWSWIRE) --
Particle Therapy Market Size will reach more than USD 1.7 billion by 2032. The surging global burden of cancer is an important trend influencing the demand for particle therapies.
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Recent UICC (Union for International Cancer Control) projections indicate a substantial increase in cancer cases, with over 35 million new diagnoses anticipated by 2050, representing a significant 77% rise from the estimated 20 million cases reported in 2022. Cancer remains one of the most pressing healthcare challenges worldwide, with millions of new cases diagnosed each year. The aging population, lifestyle changes, environmental factors, and advancements in diagnostic techniques are contributing to the steady rise in cancer incidence rates. This growing prevalence is underscoring the urgent need for innovative and effective treatment modalities to address the burden of this disease.
Particle therapy, with its ability to precisely target tumors while minimizing damages to surrounding healthy tissues, has emerged as a promising solution in the fight against cancer. As healthcare systems strive to meet the increasing demand for cancer treatment, particle therapy is gaining traction as a valuable tool in the arsenal of oncologists. Furthermore, as awareness about the benefits of particle therapy continues to grow among healthcare providers, patients, and caregivers, its adoption is expected to accelerate, driving the market expansion in the years to come.
Heavy ion therapy to attain popularity
Particle therapy market share from the heavy ion therapy type segment will grow at a decent pace till 2032, due to its ability to deliver high doses of radiation to tumors while minimizing damages to surrounding healthy tissues. Unlike traditional radiation therapy, which uses photons or X-rays, heavy ion therapy utilizes charged particles, such as carbon ions, which have a higher mass and energy, making them more effective in destroying cancer cells. This advanced form of therapy is particularly beneficial for treating deep-seated tumors and tumors resistant to conventional treatments, subsequently expanding the treatment options available to patients.
Rising usage for lung cancer treatment
The particle therapy market from lung cancer type segment in the particle therapy industry will expand rapidly between 2024 and 2032, as it is one of the most common types of cancer worldwide, with a high mortality rate. Conventional treatments for lung cancer, such as surgery, chemotherapy, and conventional radiation therapy, often have limited efficacy and can cause significant side effects. Particle therapy offers a promising alternative for lung cancer patients, as it renders precise targeting of tumors located near critical structures, such as the heart and lungs, while minimizing damages to healthy tissues. With advancements in technology and the increasing clinical evidence supporting the effectiveness of particle therapy for lung cancer treatment, the demand for this innovative approach is expected to rise significantly.
Asia Pacific to emerge as a lucrative market
Asia Pacific particle therapy market will grow at a steady pace till 2032, driven by increasing investments in healthcare infrastructure, rising prevalence of cancer, and the growing adoption of advanced treatment modalities. Countries like Japan, South Korea, and China are recording higher adoption of particle therapy, with numerous facilities equipped with state-of-the-art systems. With a large population base and a growing burden of cancer, the region will present lucrative opportunities for the regional market players to meet the burgeoning demand for advanced cancer treatments.
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Particle Therapy Industry Players
Major companies in the particle therapy market include Hitachi, Ltd., Mevion Medical Systems, Inc., Provision Healthcare, Advanced Oncotherapy plc, Optivus Proton Therapy, Inc., Sumitomo Heavy Industries, Ltd., ProTom International, Ion Beam Applications S.A. (IBA).
These participants are focusing on expanding their geographic footprint through strategic partnerships, collaborations, and acquisitions to penetrate new markets and reach a broader patient base. To cite an instance, in May 2022, Mevion Medical Systems was chosen to install a MEVION S250i Proton Therapy System with HYPERSCAN Pencil Beam Scanning (PBS) in a leading hospital in Southern China.
Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Particle therapy market 360º synopsis, 2018 – 2032
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Type trends
2.1.4 Product & services trends
2.1.5 System trends
2.1.6 Cancer type trends
Chapter 3 Particle Therapy Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Growing global burden of cancer
3.2.1.2 Advantages offered by particle therapy
3.2.1.3 Increasing number of particle therapy centers worldwide
3.2.2 Industry pitfalls & challenges
3.2.2.1 Infrastructural challenges in healthcare facilities
3.2.2.2 Unfavorable reimbursement policies and limited insurance coverage
3.3 Growth potential analysis
3.3.1 By type
3.3.2 By product & services
3.3.3 By system
3.3.4 By cancer type
3.4 COVID- 19 impact analysis
3.5 Regulatory landscape
3.6 Porter's analysis
3.7 PESTEL analysis
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