Asia-Pacific Region will Score the Highest CAGR During the Forecast Period (2021-2028)

A major driving element for this market has been the number of persons suffering from various cancers. Cancer is one of the most common life-threatening diseases nowadays. According to the World Health Organization, cancer is the second biggest cause of death worldwide, accounting for 9.6 million deaths in 2018. Cancer is responsible for around one out of every six deaths worldwide. Cancer kills around 70% of people in low and middle-income nations. Because proton therapy is used to treat cancer, their increasing prevalence is projected to be a major driver of market expansion.

Access Full Report @ https://www.databridgemarketresearch.com/reports/global-proton-therapy-market

Global proton therapy market is expected to reach USD 1,823.85 million by 2028 from USD 1,124.18 million in 2020, growing with a substantial CAGR of 6.5% in the forecast period of 2021 to 2028. Increasing demand for advanced medical technologies for diagnostic and treatment purposes and the growing incidence rate of acute and chronic diseases are some of the drivers boosting the growth of the market. Rising geriatric population base, increasing awareness about the availability of treatment options in the developing economies and rising personal disposable income are some other important market growth determinants.

Rise in the prevalence rate of cancer globally is expected to drive the market's growth rate

According to a 2018 World Health Organization report, lung cancer is the most common cancer and the leading cause of death worldwide. According to the data, lung cancer was the most common malignancy with 2.09 million diagnoses and 1.76 million deaths. This aspect is projected to promote market growth by increasing demand for more efficacious medicines such as particle therapy. Increased expenditure by public and private players on the development of healthcare infrastructure will also promote the market growth rate. Continuous research and development pertaining to the deployment of advanced healthcare technologies will yet again widen the scope of growth.

Report Scope and Market Segmentation

Segment Analysis:

Global proton therapy market is categorized into six notable segments which are based on the product type, component, type, set-up systems, application type and end user.

• On the basis of product type, the global proton therapy market is segmented into systems, software and services. In 2021, systems segment is dominating the market with the market share of 80.25% and is growing with the highest CAGR of 6.8% in the forecast period of 2021 to 2028 because of the growing adoption of proton therapy systems due to increased healthcare infrastructure across globe.
• On the basis of component, the global proton therapy market is segmented into proton accelerator, beam transport system, beam delivery system, nozzle, image viewers and patient positioning system (PPS). In 2021, proton accelerator segment is dominating the market with the market share of 38.81% and is growing with the highest CAGR of 7.4% due to the advancement in technology leading to the development of various new proton accelerators.
• On the basis of type, the global proton therapy market is segmented into rotating proton therapy systems and non rotating proton therapy systems. In 2021, rotating proton therapy systems segment is dominating the market with the market share of 75.64% due to the ability to provide precise treatment from every angle to the patient.
• On the basis of set-up systems, the global proton therapy market is segmented into multi-room systems and compact/ single-room systems. In 2021, multi-room systems segment is dominating the market with the market share of 55.09% and is growing with the CAGR of 6.3% in the forecast period of 2021 to 2028 as it is more economical option as compared to the compact systems.
• On the basis of application type, the global proton therapy market is segmented into treatment applications and research applications. In 2021, treatment applications segment is dominating the market with the market share of 66.47% and is growing with the CAGR of 6.3% in the forecast period of 2021 to 2028 because of the growing adoption of proton therapy systems due to increased prevalence of cancer across globe.

Treatment applications is expected to dominate the application type segment in the global proton therapy market

The treatment segment is expected to flourish its dominance during the forecast period. This is because of the rising awareness about the available treatment options all around the globe. Also, growing personal disposable income is indirectly influencing the growth rate of the market.

• On the basis of end user, the global proton therapy market is segmented into hospitals, ambulatory surgical centers and cancer research institutes. In 2021, hospitals segment is dominating the market with the market share of 65.03% and is growing with the highest CAGR of 6.9% as it is the prime location visited by the patients for diagnosis and treatment of any chronic disease as cancer or emergency case.  

Hospitals is expected to dominate the end users segment in the global proton therapy market

The rising number of hospitals and clinics, especially in the developing economies, has emerged as a major factor responsible for bolstering the growth of this segment. The hospitals segment is projected to hold more than 65% of the total end user segment share. This is because of the rising awareness about the availability of treatment options and increasing incidence rate of chronic diseases globally. 

Major Players

Data Bridge Market Research recognizes the following companies as the major cardiac safety services market players in advanced wound care market are Varian Medical Systems, Inc. (U.K.), Protom International (U.S.), Mevion Medical Systems (U.S.), Sun Nuclear Corporation (U.S.), Provision Healthcare (U.S.), Koninklijke Philips N.V. (Netherlands), Optivus Proton Therapy, Inc. (U.S.) and GE Healthcare (U.S.)

Market Development –

• In January 2020, Best Cyclotron Systems, Inc. signed a memorandum of understanding (MoU) with the University of Wisconsin Medical Radiation Research Center (UWMRRC) in order to develop new cancer treatment therapy using their 400 MeV ion Rapid Cycling Medical Synchrotron (iRCMS). The agreement done by the company has increased its credibility in the market leading to increased sales and demand in the market.

Regional Analysis

Geographically, the countries covered in the cardiac safety services market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the dominant region in proton therapy market during the forecast period 2022 - 2029

North America is dominating the global proton therapy market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. The U.S. is dominating due to the presence of major market players which provide the wide drug portfolio and well-developed healthcare infrastructure in this region. Also, existence of advanced healthcare technologies in this region is another reason for this region’s dominance in the global market.   

Asia-Pacific is estimated to be the fastest growing region in proton therapy market the forecast period 2022 - 2029

Asia-Pacific is expected to grow during the forecast period due to the increasing patient population and rapid development of infrastructural facilities in emerging economies in this region. In addition to this, rising private and public expenditure on the development of healthcare industry infrastructure in the developing and backward economies and increasing per-capita income are expected to propel the market's growth rate in this region. Also, the increasing geriatric population base, surging incidence rate of chronic and acute disorders and diseases, and rising medical tourism are important market growth determinants.

COVID-19 Impact Analysis

The COVID-19 pandemic has put a lot of pressure on the healthcare industry, causing them to invest more on improving healthcare facilities, monitoring devices, services, and teleconsultation. Despite the global spread of COVID-19, the proton treatment market has continued to grow at a steady pace. Proton treatment radiation therapy was temporarily suspended, however it was later restarted for patients. Many protocols have been finished in the United States to assist patients with therapies, both regular patients and radiation therapy patients. As a result, numerous implementations and techniques have been carried out over time to protect radiation patients from COVID-19. The worldwide proton treatment sector is predicted to experience a boom in post-pandemic recovery during the forecast period.

For more detailed information about the proton therapy market report, click here – https://www.databridgemarketresearch.com/reports/global-proton-therapy-market