Particle Therapy Market by Therapy Type (Heavy Ion Therapy, Proton Therapy), Component (Product, Service), Configuration, Cancer Type, End-User - Global Forecast 2024-2030

Particle Therapy Market by Therapy Type (Heavy Ion Therapy, Proton Therapy), Component (Product, Service), Configuration, Cancer Type, End-User - Global Forecast 2024-2030

The Particle Therapy Market size was estimated at USD 772.41 million in 2023 and expected to reach USD 831.50 million in 2024, at a CAGR 7.94% to reach USD 1,318.87 million by 2030.

The particle therapy forms a specific segment of the broader therapeutical technology. Primarily, it focuses on the global commercialization, distribution, and application of particle therapy technologies. Particle therapy utilizes charged and uncharged particles, such as protons and neutrons, within a controlled environment to target and eliminate cancer cells inside a patient's body. The effectiveness of this therapy in ensuring precision mainly drives market demand and growth. The increasing need for advanced therapies in cancer treatment and the rising adoption of particle therapy in clinical trials, fast, non-invasive, and painless procedures significantly contribute to driving this market growth. In contrast, limited insurance coverage for particle therapy and risk associated with particle therapy radiation exposure limits their utilization and penetrates the market growth. However, several vendors are developing more advanced and compact particle therapy systems and focusing on enhancing precision and minimizing potential side effects. Moreover, ongoing proton therapy research programs and technological advancements in charged-particle therapy are creating a myriad of opportunities for particle therapy expansion.

Regional Insights

In America, the need for particle therapy has seen consistent growth. Technology innovation is frequent and heavily backed by both private and public organizations. This region holds the most significant market share due to extensive research activities and the rise of numerous startups funded by investors targeting therapy innovation. In the EMEA region, Europe exhibits formidable growth in particle therapy primarily due to the rising incidences of various cancer types and a growing elderly population at risk. Moreover, increased funding in healthcare from various governments and organizations, coupled with well-established healthcare facilities, allows for broader adoption of the technique. Middle Eastern and African countries also show promising growth, mainly due to rising healthcare expenditure and increased efforts to enhance healthcare infrastructure. In the APAC region, several economies are leading in adopting particle therapy for cancer treatment. Factors contributing to such progress include the increasing prevalence of cancer, rapid urbanization, and continually improving economic conditions. APAC offers a vast population base, which, combined with improving healthcare infrastructures and increasing government funding for cancer research and treatment, presents APAC as a fast-growing market for particle therapy.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Particle Therapy Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Need for advanced therapies in cancer treatment
Rise in adoption of particle therapy in clinical trials
Growing number of particle therapy centers worldwide

Market Restraints

High cost of particle therapy equipment and procedures, along with limited insurance coverage for particle therapy

Market Opportunities

Ongoing proton therapy research programs
Technological advances in charged-particle therapy and enabling personalized cancer treatment strategies

Market Challenges

Risk associated with the particle therapy radiation exposure

Market Segmentation Analysis

Therapy Type: Consumer preference for proton therapy as it provides a reduced risk of damage to surrounding tissues
Component: Rising utilization of product components for treating solid tumors near vital organs due to their high accuracy
Configuration: Potential of a multi-room system for treating a larger number of patients concurrently
Cancer Type: Expanding usage of particle therapy for head & neck cancer owing to reduced risk on healthy tissue
End-User: Significant role of particle therapy in hospitals & clinicals as they strive to provide high-quality care

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Particle Therapy Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Particle Therapy Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

IBA and PARTICLE Initiate FLASH Proton Therapy Research Partnership

IBA International and PARTICLE (Particle Therapy Interuniversity Center Leuven) have established a Research Partnership to develop ConformalFLASH in the context of Particle Therapy. This collaboration signifies another significant milestone in bringing FLASH therapy to patients in the clinic.

P-Cure Receives FDA Approval For Proton Therapy System For Treatment in Seated Position and Will Begin Treating Patients In Israel

P-Cure Ltd has obtained FDA clearance for its Adaptive Proton Therapy Solution in the USA. This solution represents the FDA-approved methodology for patient-ready cancer treatment. This FDA clearance represents a significant milestone in expanding the clinical benefits of proton therapy to medical facilities globally while also providing a cost-effective option for existing oncology centers.

Terapet raises CHF 2.3 million for its next-generation cancer treatment technology

CERN secured CHF 2.3 million in funding to develop particle therapy technology to enhance cancer treatments by delivering radiation doses with unparalleled precision and minimizing damage to healthy tissue. With this significant investment and the promising development of Qualγscan, Terapet is poised to make significant advancements in particle therapy technology, revolutionizing cancer treatment and improving patient outcomes.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Particle Therapy Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Particle Therapy Market, highlighting leading vendors and their innovative profiles. These include Advanced Oncotherapy plc, B dot Medical Inc., Best Particle Therapy, Inc., BioSig Technologies Inc., Covenant Health, Danfysik A/S, Elekta AB, Hitachi, Ltd., IBA International, Koninklijke Philips N.V., Mevion Medical Systems, Mitsubishi Electric Corporation, New Mexico Cancer Center, Optivus Proton Therapy, Inc., P-Cure Ltd, ProTom International, Provision Healthcare, LLC, PTW Freiburg GmbH, SAH Global LLC, Shanghai APACTRON Particle Equipment Co., Ltd., Siemens Healthineers GmbH, Stantec Inc., Sumitomo Heavy Industries, Ltd., Toshiba Medical Systems Corporation, and Xstrahl Ltd..

Market Segmentation & Coverage

This research report categorizes the Particle Therapy Market to forecast the revenues and analyze trends in each of the following sub-markets:

Therapy Type
Heavy Ion Therapy
Proton Therapy
Component
Product
Cyclotrons
Synchrocyclotrons
Synchrotrons
Service
Configuration
Multi-room System
Single-room System
Cancer Type
Breast Cancer
Head & Neck Cancer
Lung Cancer
Pediatric Cancer
Prostate Cancer
End-User
Ambulatory Surgery Centers
Hospitals & Clinics
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year