by Proton therapy involves the use of proton beams to treat cancerous tumors with increased accuracy and effectiveness compared to conventional photon-based radiotherapy. Proton therapy offers several benefits over traditional radiation therapy as the dose is concentrated at the tumor site with minimal exposure to surrounding tissues, reducing long-term side effects in patients. This advanced form of external beam radiation therapy is most commonly used in the treatment of cancers affecting the brain, head, neck, lung, prostate, and spine. Significant research is being conducted to expand proton therapy applications and improve outcomes for a wider range of cancers.
The Global Proton Therapy Market Size is estimated to be valued at US$ 3,183.21 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the proton therapy market is the increasing adoption of single-room proton therapy systems. Single-room systems provide significant advantages over traditional multi-room gantry systems as they occupy less space and are more cost-effective. Major players are focusing on developing compact single-room systems to make proton therapy accessible to more patients. For instance, in 2021 Siemens Healthineers launched its Prisma Particle Therapy System, a single-room system that aims to reduce costs by 30-40% compared to conventional systems. The compact size also allows more treatment centers to offer proton therapy. Rising adoption of such innovative single-room systems is expected to continue driving the proton therapy market in the coming years.
Porter’s Analysis
Threat of new entrants: The proton therapy market has moderate threat of new entrants due to high capital requirements and need for advanced technologies.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are many established players providing proton therapy services.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials and component supplies are available from various sources.
Threat of new substitutes: Threat of new substitutes is low as currently there are limited substitutes available for proton beam therapy used in cancer treatment.
Competitive rivalry: The proton therapy market experiences high competitive rivalry among established players focusing on technological advancements.
Key Takeaways
The global proton therapy market is expected to witness high growth over the forecast period owing to increasing incidence of cancer cases globally.
North America region currently dominates the proton therapy market with highest number of treatment centers and patients receiving treatments in the US. The Asia Pacific region is expected to witness fastest growth due to growing adoption and establishing new centers in countries like China and India.
Key players operating in the proton therapy market are Silicon Labs, Aeotec (formerly Aeon Labs), Fibaro, Qolsys, Zooz, HomeSeer, Leviton, Everspring, Vision Security, Jasco (GE/Jasco). Key players are focusing on new product launches and enhancing technology to deliver more precise and effective treatments for critical diseases like cancer.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
