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The proton therapy market share is expected to increase by USD 434.26 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 8.38%.
This proton therapy market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers proton therapy market segmentations by product (equipment and services) and geography (North America, Europe, Asia, and Rest of World (ROW)). The proton therapy market report also offers information on several market vendors, including Advanced Oncotherapy plc, Elekta AB, Hitachi Ltd., Ion Beam Applications SA, Mevion Medical Systems Inc., Optivus Proton Therapy Inc, ProTom International Holding Corp., Provision Healthcare, Siemens AG, and Sumitomo Heavy Industries Ltd. among others.
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The increasing prevalence of cancers is notably driving the proton therapy market growth, although factors such as the high cost of proton beam therapy and lack of insurance coverage may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the proton therapy industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Proton Therapy Market Driver
The increasing prevalence of cancers is one of the key drivers supporting the proton therapy market growth. Primarily, the top five leading cancers diagnosed in 2020 were lung cancer, breast cancer, colorectal cancer, prostate cancer, and stomach cancer. These five cancers accounted for approximately 49% of the overall diagnosed cancer cases. Out of these, lung cancer and breast cancer account for the largest number of diagnosed cases. Moreover, the associated risk factors of cancers are also on the rise. A significant proportion of the rise in cancer incidence is attributed to the high body mass index, poor dietary habits, lack of physical activity, tobacco use, and alcohol consumption. Thus, these factors will increase the risk of cancer prevalence, which, in turn, will increase the demand for proton therapy during the forecast period.
Key Proton Therapy Market Trend
Technological advances is one of the key proton therapy market trends contributing to the market growth. For instance, PBS is an advanced way of delivering the proton beam, which achieves much higher levels of conformality to the target, while further decreasing the level of dose to the surrounding tissues in comparison to fan-beam scanning of the proton beam and external beam radiotherapy treatments. It decreases or nearly eliminates neutron scatter dose, especially important in pediatric cancer treatment. These advances are allowing better treatment planning and enabling clinicians to accurately define the location, size, and shape of the tumors to make proton therapy a more practical and accurate form of cancer treatment. Such technological advances are expected to boost market growth in the coming years.
Key Proton Therapy Market Challenge
The high cost of proton beam therapy and lack of insurance coverage is one of the factors hindering the proton therapy market growth. Depending on the number of treatment rooms and whether the facility is above or below grade, proton therapy centers can cost from $600 to $800 per square foot of building area. Healthcare facilities also need to hire additional full-time engineers and physicists to ensure their proper maintenance. Thus, the construction of a proton therapy facility requires high capital investment and may involve complex project financing. Insurance coverage for proton therapy is also not universal among commercial insurance providers because of the lack of adequate randomized control trials that compare the cost-effectiveness of proton beam therapy with other forms of radiation for several indications. Several insurers are now declining to pay for proton therapy for many indications, and some have stopped paying for all indications. These factors are restricting the widescale adoption of proton therapy, which, in turn, is restricting market growth.
This proton therapy market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global proton therapy market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the proton therapy market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the proton therapy market encompasses successful business strategies deployed by the key vendors. The proton therapy market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The proton therapy market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the proton therapy market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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40% of the market’s growth will originate from North America during the forecast period. The US is the key market for proton therapy market in North America. Market growth in this region will be slower than the growth of the market in Europe and Asia.
The increasing prevalence of cancers will facilitate the proton therapy market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 prompted vendors to come up with new business strategies, such as online promotional activities and training for doctors, to raise the demand for proton therapy equipment. This will help the regional proton therapy market grow during the forecast period.
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The proton therapy market share growth by the equipment segment will be significant during the forecast period. The equipment segment is expected to grow steadily during the forecast period. This is due to the increasing awareness about the clinical benefits of proton therapy and an increase in the number of proton therapy rooms.
This report provides an accurate prediction of the contribution of all the segments to the growth of the proton therapy market size and actionable market insights on post COVID-19 impact on each segment.
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Proton Therapy Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.38% |
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Market growth 2022-2026 |
$ 434.26 million |
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Market structure |
Concentrated |
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YoY growth (%) |
7.56 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 40% |
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Key consumer countries |
US, Germany, France, China, and Japan |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Advanced Oncotherapy plc, Elekta AB, Hitachi Ltd., Ion Beam Applications SA, Mevion Medical Systems Inc., Optivus Proton Therapy Inc, ProTom International Holding Corp., Provision Healthcare, Siemens AG, and Sumitomo Heavy Industries Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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