by Proton therapy is an advanced form of radiation therapy that uses proton beams to treat cancerous tumors. It offers a non-invasive treatment alternative to surgery for cancers located near sensitive areas of the body such as the brain, eyes, spine or head and neck regions. Proton therapy delivers more targeted radiation to cancer cells and causes little damage to surrounding healthy tissue. This minimizes side effects and improves patient quality of life outcomes. The success of proton therapy is driven by continuous innovation in treatment technology which has enabled its use for treating a wider range of cancer types more effectively and affordably.
The global proton therapy market is estimated to be valued at US$2763.2 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023-2030, 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 integration of artificial intelligence and machine learning capabilities into treatment delivery systems. Vendors are focusing on developing intelligent proton therapy systems that can autonomously adapt treatment plans based on changes in patient anatomy and positioning during radiation sessions. This provides real-time treatment guidance and monitoring to ensure maximum precision and effectiveness of each dose. Another noticeable trend is the increasing adoption of single-room proton therapy systems that combine a compact isocentric gantry, patient positioning and imaging into a single treatment vault. These innovative single-room systems offer hospitals significant space and infrastructure savings compared to traditional multi-room proton therapy centers.
Porter’s Analysis
Threat of new entrants: The proton therapy market requires high capital investments for infrastructure development and technology procurement which acts as a barrier for new companies.
Bargaining power of buyers: The bargaining power of buyers is moderate as the services offered are unique with specialized nature. However, the availability of substitutes limits the bargaining power.
Bargaining power of suppliers: A few major players dominate the supply side with required expertise and technology. This gives them moderate bargaining power over buyers.
Threat of new substitutes: Technologies like intensity-modulated radiation therapy (IMRT) and stereo-tactic radiosurgery (SRS) offer substitutes but lack tumor specificity of proton therapy.
Competitive rivalry: Major players compete based on technology advancements, geographic expansion and service portfolios. The market continues to witness new product launches and capacity additions intensifying competition.
Key Takeaways
The global Proton Therapy Market Share is expected to witness high growth. The global proton therapy market is estimated to be valued at US$2763.2 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023-2030.
North America dominates the market currently due to developed healthcare infrastructure and increasing adoption. Asia Pacific is expected to grow at the fastest pace due to increasing healthcare expenditure and growing geriatric population. Asia Pacific proton therapy market is projected to grow at a CAGR of 9.2% during the forecast period. Developing nations like China and India are increasingly focusing on cancer treatment infrastructure development. This along with growing medical tourism will drive the regional market.
Key players:
Key players operating in the proton therapy market are Bayer AG, Boehringer Ingelheim GmbH, Cargill Inc., Ceva Santé Animale, Eli Lilly and Company, DSM, Merck & Co., Inc., Novartis AG, Nutreco N.V., Sanofi S.A., SeQuent Scientific Ltd., Virbac S.A., Vétoquinol S.A., Zoetis Inc.
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.
