Particle Therapy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Particle Therapy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The particle therapy market is expected to register a CAGR of 7.6% over the forecast period.

The COVID-19 pandemic has affected the healthcare systems globally and also had a significant impact on particle therapy for cancer patients. Cancer patients are more likely to develop a COVID-19 infection and are also more likely to experience serious and perhaps deadly consequences from the infection. The difficulty for radiation oncology clinics is to safely balance a patient's risk of getting COVID-19 while undergoing radiation treatment against their risk of cancer progression if treatment is postponed. For instance, as per the report titled" Prioritization of Proton Patients in the COVID-19 Pandemic: Recommendations from The New York Proton Center" published in May 2020, the New York Proton Center established an internal algorithm to address the challenges of radiation treatment during the pandemic, that considers treatment-related, tumor-related, and patient-related characteristics. This type of algorithm helped cancer patients to continue proton therapy while keeping the rate of COVID-19 infection low.

The factors that are driving the market growth include advantages offered by particle therapy and the growing global prevalence of cancer. The number of people suffering from various cancers has been found to be a major driving factor for this market. According to the report titled "Current and future burden of breast cancer: Global statistics for 2020 and 2040" pubished in September 2022, there were 2.3 million new cases and 685,000 deaths from breast cancer occurred in 2020 and by 2040, the burden from breast cancer is predicted to increase to over 3 million new cases and 1 million deaths every year because of population growth and ageing alone. Since particle therapies are used to treat cancers, the growing prevalence of the same is expected to be the major driver of the growth of this market.

Therefore, owing to the aforementioned factors, the studied market is expected to grow significantly during the study period. However, infrastructural challenges in healthcare facilities and unfavorable reimbursement policies and limited insurance coverage of particle therapy are expected to hinder the market growth during the study period.

Key Market TrendsProton Therapy is Expected to Hold a Significant Share Over the Forecast Period

Proton therapy, also called proton beam therapy, is a type of radiation therapy. It uses protons rather than x-rays to treat cancer. It uses a machine outside the body to administer radiation painlessly through the skin. Proton therapy is effective for treating cancers that have not spread and are close to vital body organs like the brain and spinal cord. It may be used to treat cancers like eye cancer, head and neck cancer, lung cancer, and prostate cancer.

Proton therapy for lung cancer and brain cancer has proven to be a reasonable treatment for patients whose cancer is limited to the local areas. Brain tumors are the leading cause of cancer-related death among children ages 0-14 years. The increase in the cases of the above-mentioned cancers drives the growth of the proton therapy segment. For instance, according to the National Brain Tumor Society 2022, it is estimated that 700,000 people in the United States are living with a primary brain tumor, and approximately 88,970 more will be diagnosed in 2022. As proton therapy is more effective for the localized treatment of cancer, the increase in brain tumor cases will have a positive impact on the market through the proton therapy segment.

With the expansion of hospital facilities for advanced treatment of cancers, the proton therapy segment is expected to grow. For instance, in December 2021, Moffitt announced proton therapy treatment facility as part of its ongoing expansion and will allow radiation oncologists to treat cancer with precisely directed doses of radiation, which protects healthy tissue.

Thus, owing to the abovementioned factors the studied segment is anticipated to register steady growth over the forecast period.

North America Dominates the Market and Expected to do Same in the Forecast Period

North America has dominated the global market and is expected the same in the forecast period. Almost half of all cancer patients in the region, especially in the United States receive cancer treatment. The United States has the largest market for radiotherapy.

The market is driven by factors, such as the rising burden of cancers, replacements of older therapies with newer ones, and the availability of reimbursements for radiation therapy. For instance, according to the American Cancer Society, Cancer statistics 2022, there are 1,918,030 estimated new cancer cases in the United States in 2022, out of which 983,160 are male and 934,870 are female patients. The significant amount of cancer cases will drive the United States segment market over the forecast period.

A few states in the United States have passed laws compelling the personnel performing radiologic procedures to hold licenses. The changes in legislature and the availability of reimbursement policies have led to incentivizing providers to improve patient care and outcomes of treatment while controlling costs.

Furthermore, the new approvals, launches, and partnerships among the companies in the region drives the growth of the market. For instance, in September 2021, ProTom International entered into an agreement with the Behnke Group. The relationship would enhance ProTom’s expansion of United States markets through connections with the Behnke Group’s network in the industry, allowing a greater number of cancer patients to benefit from ProTom’s world-class proton therapy treatments. Also, in April 2020, Mevion Medical Systems received a medical device license from Health Canada for MEVION S250i Proton Therapy System with HYPERSCAN Pencil Beam Scanning (PBS). Thus the above related agreements and approvals help the North America market segment to grow.

Therefore, the studied market is expected to lead to lucrative growth in North America due to the above-mentioned factors.

Competitive Landscape

The global particle therapy market is moderately competitive and consists of a number of major players. Companies like Danfysik A/S, Hitachi, Ltd., IBA, Mevion Medical Systems., Optivus Proton Therapy, Inc., ProTom International., Provision Healthcare., Sumitomo Heavy Industries, Ltd., Siemens Healthcare GmbH (Varian Medical Systems, Inc.), hold a substantial market share in the particle therapy market.

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