Report Overview

Global Particle Therapy Market - Industry Trends & Forecast Report, 2027

The global particle therapy marketwas worth USD 1,093.2 million in 2020 and is further projected to reach USD 2,014.9 million by 2027, at a CAGR of 9.2% during 2021-2027 (forecast period).The growth in the market is attributable to an increase in cancer cases worldwide. A report released by the International Agency for Research on Cancer states that an estimated 19.3 million new cancer cases were registered in 2020. This has increased the demand of the particle therapy market for cancer treatment. Moreover, particle therapy is also used in various clinical trial studies and cancer research studies. Also, the increasing number of particle therapy centers has provided new growth opportunities for the market. Nevertheless, challenges such as inadequate infrastructure, high therapy costs, unfavorable reimbursement policies, and insufficient insurance coverage are restricting the market's growth worldwide.

Source: BlueWeave Consulting

Particle Therapy Market Overview

Particle therapy is a type of radiation treatment that uses electrons and heavier carbon ions for radiotherapy. It is used to deliver precise and accurate radiation doses to the tumor site while protecting the surrounding tissues. Since particle therapy is used to treat cancer, it has grown rapidly in response to the prevalence of cancer cases. According to the Particle Therapy Co-operative Group, about 57 proton accelerators used for cancer treatment are operating globally, including facilities for scientific research. The modernization of healthcare machinery and technological advancements have further enhanced market opportunities. Although particle therapy has expanded in several regions across the globe, the challenges associated with establishing huge infrastructure have slowed down the market growth.

Particle Therapy Market Trends

Growth Drivers

Demand for Modern Therapy for Cancer Treatment Driving Market Growth

The growing prevalence of cancer cases calls for more innovative and efficient cancer treatments worldwide. Particle therapy has shown promising results in treating prostate, lung, head, neck, and pediatric cancers locally. Its efficiency and effectiveness have been driven the growth of the global particle therapy market. Around the world, 442.4 new cases of cancer are diagnosed for every 100,000 men and women. Particle therapy, with its limited side effects, has garnered the attention of the radiation oncology community and is, therefore, widely being adopted for the treatment of cancer patients. Since it can be used to treat several types of tumors, including lungs, prostate, breast, head, neck, it has become the most popular option for cancer patients.

New Developments in Particle Therapy Increasing its Popularity

With ever-evolving radiation technology, many advancements have been made in particle therapy. This has prompted more healthcare physicians across the globe to adopt particle therapy. Additionally, its non-invasive nature and painless treatment mechanismare propelling the demand for particle therapy in the oncology sector. The market for particle therapy is also growing because it is increasingly used in clinical trials and cancer research studies. For instance, as an extension of Siemens Healthineers' global clinical partnerships, Siemens Healthineers is working with clinical partners in Europe and the US on translational research to improve planning, delivery, and management of particle therapy through technology innovation.

Restraints

Particle Therapy Markets Slowing due to High Costs

The average annual cost of cyclotron used in particle therapy is about USD 584,500. The high cost of products offered by the particle therapy market makes it unaffordable to many end-users, thereby reducing consumer adoption. The cost of building infrastructure, operating, and maintaining particle therapy is also high. Moreover, it also requires a bunch of trained medical staff to operate. All these expenses make particle therapy a pricey market, which limits its expansion. Additionally, many countries still have no proper reimbursement policies and insurance coverage systems. Therefore, a large number of consumers decide to opt-out of particle therapy, even if their cancer cases are severe.

Impact of Covid-19

The coronavirus outbreak has significantly impacted the particle therapy market across the globe. Many regulatory bodies like CDC, WHO, TGA, and MHRA have reported that cancer patients have a greater risk of contracting coronavirus. As many cancer treatment procedures have been canceled or postponed during the pandemic period, the demand for particle therapy witnessed a sharp decline. Because of the lack of resources in hospitals and their involvement primarily with COVID-19 cases, many non-invasive, invasive, and surgical procedures related to other diseases, including cancer, have been restricted or postponed. This disruption in cancer treatment has affected the growth of the particle therapy market globally. Moreover, the Particle Therapy Co-operative Group released guidelines during the pandemic to limit and avoid COVID-19 transmissions during particle therapy.

Particle Therapy Market- By Therapy Type

Based on types, the particle therapy market is segmented into heavy ion therapy, proton therapy, and others. With the largest share in 2020, the proton therapy segment enjoys the strongest global presence. This segment offers better facilities like a high degree of precision, shorter treatment time, andminimum sideeffects as compared to conventional X-ray therapy. These advantages are driving the growth of this segment. The lifespan of proton therapy is 30 years or more as compared to photon therapy, which is 10 years. This benefit, combined with a growing number of proton therapy centers worldwide, has supported the expansion of proton therapy in the particle therapy market. In Chennai (India), the Proton Treatment Centre at Apollo Hospitals is the first proton cancer center in South East Asia to identify priority areas for R&D.

Particle Therapy Market- By Products & Services

Based on product & services, the particle therapy market has been segmented into cyclotron, synchrotron, and synchrocyclotron. The synchrotrons segment had the highest market share in 2020. This segment has grown due to its application in an increasing number of research facilities. Both protons and heavy ions like carbo and hydrogen can be accelerated using synchrotrons. The segment is witnessing high expansion due to significant investments in the development of synchrotrons. One example is Danfysik's partnership with Siemens' Particle Therapy in which Danfysik will deliver to Siemens turn-key accelerators based on synchrotron technology.

Particle Therapy Market- Regional Insights

The particle therapy market is categorized into North America, Europe, the Asia-Pacific, Latin America, and the Middle East & Africa. Among these regions, North America leads the market with the highest shares in 2020. A major driving force in this segment is the rapidadoption of modernized technology in healthcare machinery and increased investments in research and development. With the largest market for radiotherapy in the world, the U.S. also has the top spot on the particle therapy market. The National Association for Proton Therapy reports that there are 25 proton therapy centers in the United States and 11 are under construction. These are a few factors that arepropelling the increasing adoption of particle therapy in cancer treatment and research studies across North America.

The Asia-Pacific is anticipated to contribute the highest share to the particle therapy market during the forecast period. China, Japan, and India are the highest revenue-generating countries for this market due to their improving healthcare infrastructure and favorable government initiatives. Additionally, cancer cases are on the rise in this region, which increases the demand for particle therapy. It is predicted that by 2050, the Asia- Pacific region will have 7.8 million new cancer cases and 5.7 million deaths. The demand for advanced therapy for cancer treatment has opened many opportunities for the particle therapy market to expand in this region.

Competitive Landscape

The particle therapy market is highly competitive and fragmented and is composed of many large, small, and medium players. The key players dominating the global particle therapy market are Varian Medical Systems Inc., Hitachi Ltd., IBA Worldwide, Sumitomo Heavy Industries Ltd., Advanced Oncotherapy plc., Mevion Medical Systems Inc., Provision Healthcare LLC, Optivus Proto Therapy Inc., ProTom International Inc., Danfysik A/S, Ion Beam Applications SA, Brainlab, Elekta AB, Mitsubishi Electric Corporation, Koninklijke Philips N.V., PTW- Freiburg GmbH, Panacea Biotec, Shinva Medical Instrument Co Ltd., Strategic Alliance Holdings Global LLC, andother prominent players.Hitachi, Varian Medical Systems, and Iron Beam Application control about 40% of the particle therapy market.The players compete with each other by launching innovative products and investing in research & development.

Recent Developments

• In March 2021, Iron Beam Application, a renowned provider of proton therapy solutions announced installing a robust pipeline in both U.S. and Asia- Pacific regions with the installation of one Proteus One system commencing its first quarter.
• In May 2020, Hitachi announced its first advanced proton therapy system installation in Europe at Clinica Universidad, Spain.

Scope of Report:

By Therapy Type

• Proton Therapy

• Heavy Ion Therapy

• Others

By Product & Service

• Cyclotrons

• Synchrotrons

• Synchrocyclotrons

By System

• Multi-room Systems

• Single-room Systems

By Cancer Type

• Lungs Cancer

• Prostate Cancer

• Breast Cancer

• Other Cancers

By Application

• Treatment Applications

• Research Applications

• Others

By Region

• North America

• Europe

• The Asia-Pacific

• Latin America

• The Middle-East & Africa

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Primary & Secondary Research Products & Services
      2. Secondary Research
      3. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation
3. Executive Summary
4. Global Particle Therapy Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Recent Developments
   4. Regulatory Insights
   5. Porter’s Five Forces Analysis
      1. Bargaining Products & Services of Suppliers
      2. Bargaining Products & Services of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
5. Global Particle Therapy MarketOverview
   1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Million)        
   2. Market Share & Forecast
      1. By Therapy Type
         1. Heavy Ion Therapy
         2. Proton Therapy
         3. Others
      2. By Products & Services
         1. Cyclotrons
         2. Synchrotron
         3. Synchrocyclotron
         4. Others
      3. By System

5.2.3.1 Single Room System

5.2.3.2 Multi-Room System

5.2.3.3 Others

          5.2.4. By Cancer Type

                5.2.4.1Lungs

                5.2.4.2 Prostate

                5.2.4.3 Breast

                5.2.4.4 Others

          5.2.5.  By Application

                5.2.5.1. Treatment Application

                5.2.5.2. Research Application

                5.5.5.3. Others

          5.2.6.  By Region

   5.2.6.1. North America

   5.2.6.2. Europe

   5.2.6.3. The Asia-Pacific

   5.2.6.4. South America

   5.2.6.5. The Middle East and Africa    

6. North America Particle Therapy Market
   1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Therapy Type
      2. By Products & Services
      3. By System
      4. By Cancer Type
      5. By Application
      6. By Country
         1. U.S.
         2. Canada
7. Europe Particle Therapy Market
   1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Therapy Type
      2. By Products & Services
      3. By System
      4. By Cancer Type
      5. By Application
      6. By Country
         1. France
         2. Germany
         3. Italy
         4. Spain
         5. U.K.
         6. Russia
         7. Rest of Europe
8. The Asia-Pacific (APAC)Particle Therapy Market
   1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Therapy Type
      2. By Products & Services
      3. By System
      4. By Cancer Type
      5. By Application
      6. By Country
         1. Japan
         2. China
         3. India
         4. South Korea
         5. Rest of APAC
9. Latin AmericaParticle Therapy Market
   1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Therapy Type
      2. By Products & Services
      3. By System
      4. By Cancer Type
      5. By Application
      6. By Country
         1. Brazil
         2. Argentina
         3. Mexico
         4. Rest of Latin America
10. The Middle East & Africa (MEA) Particle Therapy Market
    1. Market Size & Forecast by Value, 2017-2027
       1. By Value (USD Million)
    2. Market Share & Forecast
       1. By Therapy Type
       2. By Products & Services
       3. By System
       4. By Cancer Type
       5. By Application
       6. By Country
          1. South Africa
          2. Saudi Arabia
          3. U.A.E.
          4. Turkey
          5. Rest of MEA
11. Competitive Landscape
    1. List of Key Players and their Offerings
    2. Company Market Share Analysis, 2020
    3. Competitive Benchmarking, By Operating Parameters
    4. Strategic Developments
12. Impact of Covid-19 across Global Particle Therapy Market
13. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
    1. Varian Medical Systems Inc.
    2. Hitachi Ltd.
    3. IBA Worldwide
    4. Sumitomo Heavy Industries Ltd.
    5. Advanced Oncotherapy plc.
    6. Mevion Medical Systems Inc.
    7. Provision Healthcare LLC
    8. Optivus Proto Therapy Inc.
    9. ProTom International Inc.
    10. Danfysik A/S
    11. Ion Beam Applications SA
    12. Brainlab
    13. Elekta AB
    14. Mitsubishi Electric Corporation
    15. Koninklijke Philips N.V.
    16. PTW- Freiburg GmbH
    17. Panacea Biotec
    18. Shinva Medical Instrument Co Ltd.
    19. Strategic Alliance Holdings Global LLC
    20. Other Prominent Players.
14. Key Strategic Recommendations

*Financial details of unlisted companies will be available as per data availability in the final deliverable

**The segmentation and the companies are subjected to modifications based on the in-depth secondary for the final deliverable

List of figures

Fig 1: Global Particle Therapy Segmentation

Fig 2: Global Particle Therapy Market Value Chain Analysis

Fig 3: Company Market Share Analysis, 2020

Fig 4: Global Particle Therapy Market Size, By Value (USD Million), 2017-2027

Fig 5: Global Particle Therapy Market Share (%), By Therapy Type, By Value, 2017-2027

Fig 6: Global Particle Therapy Market Share (%), By Products & Services, By Value, 2017-2027

Fig 7: Global Particle Therapy Market Share (%), By Application, By Value, 2017-2027

Fig 8: Global Particle Therapy Market Share (%), By Cancer Type, By Value, 2017-2027

Fig 9: Global Particle Therapy Market Share (%), By System, By Value, 2017-2027

Fig 10: Global Particle Therapy Market Share (%), By Country, By Value, 2017-2027

Fig 11: North America Particle Therapy Market Size, By Value (USD Million), 2017-2027

Fig 12: North America Particle Therapy Market Share (%), By Therapy Type, By Value, 2017-2027

Fig 13: North America Particle Therapy Market Share (%), By Products & Services, By Value, 2017-2027

Fig 14: North America Particle Therapy Market Share (%), By Application, By Value, 2017-2027

Fig 15: North America Particle Therapy Market Share (%), By Cancer Type, By Value, 2017-2027

Fig 16: North America Particle Therapy Market Share (%), By System, By Value, 2017-2027

Fig 17: North America Particle Therapy Market Share (%), By Country, By Value, 2017-2027

Fig 18: Europe Particle Therapy Market Size, By Value (USD Million), 2017-2027

Fig 19: Europe Particle Therapy Market Share (%), By Therapy Type, By Value, 2017-2027

Fig 20: Europe Particle Therapy Market Share (%), By Products & Services, By Value, 2017-2027

Fig 21: Europe Particle Therapy Market Share (%), By Application, By Value, 2017-2027

Fig 22: Europe Particle Therapy Market Share (%), By Cancer Type, By Value, 2017-2027

Fig 23: Europe Particle Therapy Market Share (%), By System, By Value, 2017-2027

Fig 24: Europe Particle Therapy Market Share (%), By Country, By Value, 2017-2027

Fig 25: Asia-Pacific Particle Therapy Market Size, By Value (USD Million), 2017-2027

Fig 26: Asia-Pacific Particle Therapy Market Share (%), By Therapy Type, By Value, 2017-2027

Fig 27: Asia-Pacific Particle Therapy Market Share (%), By Products & Services, By Value, 2017-2027

Fig 28: Asia-Pacific Particle Therapy Market Share (%), By Application, By Value, 2017-2027

Fig 29: Asia-Pacific Particle Therapy Market Share (%), By Cancer Type, By Value, 2017-2027

Fig 30: Asia-Pacific Particle Therapy Market Share (%), By System, By Value, 2017-2027

Fig 31: Asia-Pacific Particle Therapy Market Share (%), By Country, By Value, 2017-2027

Fig 32: Latin AmericaParticle Therapy Market Size, By Value (USD Million), 2017-2027

Fig: Latin AmericaParticle Therapy Market Share (%), By Therapy Type, By Value, 2017-2027

Fig 33: Latin AmericaParticle Therapy Market Share (%), By Products & Services, By Value, 2017-2027

Fig 34: Latin AmericaParticle Therapy Market Share (%), By Application, By Value, 2017-2027

Fig 35: Latin America Particle Therapy Market Share (%), By Cancer Type, By Value, 2017-2027

Fig 36: Latin AmericaParticle Therapy Market Share (%), By System, By Value, 2017-2027

Fig 37: Latin AmericaParticle Therapy Market Share (%), By Country, By Value, 2017-2027

Fig 38: Middle East & AfricaParticle Therapy Market Size, By Value (USD Million), 2017-2027

Fig 39: Middle East & AfricaParticle Therapy Market Share (%), By Therapy Type, By Value, 2017-2027

Fig 40: Middle East & AfricaParticle Therapy Market Share (%), By Products & Services, By Value, 2017-2027

Fig 41: Middle East & AfricaParticle Therapy Market Share (%), By Application, By Value, 2017-2027

Fig 42: Middle East & Africa Particle Therapy Market Share (%), By Cancer Type, By Value, 2017-2027

Fig 43: Middle East & AfricaParticle Therapy Market Share (%), By System, By Value, 2017-2027

Fig 44: Middle East & AfricaParticle Therapy Market Share (%), By Country, By Value, 2017-2027

List of Tables

Table 1: Global Particle Therapy Market Size, By Therapy Type, By Value, 2017-2027

Table 2: Global Particle Therapy Market Size, By Products & Services, By Value, 2017-2027

Table 3: Global Particle Therapy Market Size, By Application, By Value, 2017-2027

Table 4: Global Particle Therapy Market Size, By Cancer Type, By Value, 2017-2027

Table 5: Global Particle Therapy Market Size, By System, By Value, 2017-2027

Table 6: Global Particle Therapy Market Size, By Region, By Value, 2017-2027

Table 7: North America Particle Therapy Market Size, By Therapy Type, By Value, 2017-2027

Table 8: North America Particle Therapy Market Size, By Products & Services, By Value, 2017-2027

Table 9: North America Particle Therapy Market Size, By Application, By Value, 2017-2027

Table 10: North America Particle Therapy Market Size, By Cancer Type, By Value, 2017-2027

Table 11: North America Particle Therapy Market Size, By System, By Value, 2017-2027

Table 12: North America Particle Therapy Market Size, By Country, By Value, 2017-2027

Table 13: Europe Particle Therapy Market Size, By Therapy Type, By Value, 2017-2027

Table 14: Europe Particle Therapy Market Size, By Products & Services, By Value, 2017-2027

Table 15: Europe Particle Therapy Market Size, By Application, By Value, 2017-2027

Table 16: Europe Particle Therapy Market Size, By Cancer Type, By Value, 2017-2027

Table 17: Europe Particle Therapy Market Size, By System, By Value, 2017-2027

Table 18: Europe Particle Therapy Market Size, By Country, By Value, 2017-2027

Table 19: Asia-Pacific Particle Therapy Market Size, By Therapy Type, By Value, 2017-2027

Table 20: Asia-Pacific Particle Therapy Market Size, By Products & Services, By Value, 2017-2027

Table 21: Asia-Pacific Particle Therapy Market Size, By Application, By Value, 2017-2027

Table 22: Asia-Pacific Particle Therapy Market Size, By Cancer Type, By Value, 2017-2027

Table 23: Asia-Pacific Particle Therapy Market Size, By System, By Value, 2017-2027

Table 24: Asia-Pacific Particle Therapy Market Size, By Country, By Value, 2017-2027

Table 25: Latin America Particle Therapy Market Size, By Therapy Type, By Value, 2017-2027

Table 26: Latin America Particle Therapy Market Size, By Products & Services, By Value, 2017-2027

Table 27: Latin America Particle Therapy Market Size, By System, By Value, 2017-2027

Table 28: Latin America Particle Therapy Market Size, By Cancer Type, By Value, 2017-2027

Table 29: Latin America Particle Therapy Market Size, By Application, By Value, 2017-2027

Table 30: Latin America Particle Therapy Market Size, By Country, By Value, 2017-2027

Table 31: Middle East & Africa Particle Therapy Market Size, By Therapy Type, By Value, 2017-2027

Table 32: Middle East & Africa Particle Therapy Market Size, By Products & Services, By Value, 2017-2027

Table 33: Middle East & Africa Particle Therapy Market Size, By Application, By Value, 2017-2027

Table 34: Middle East & Africa Particle Therapy Market Size, By Cancer Type, By Value, 2017-2027

Table 35: Middle East & Africa Particle Therapy Market Size, By System, By Value, 2017-2027

Table 36: Middle East & Africa Particle Therapy Market Size, By Country, By Value, 2017-2027

Table 37: Varian Medical Systems Inc. Financial Analysis

Table 38: Varian Medical Systems Inc. Business Overview

Table 39: Hitachi Ltd. Financial Analysis

Table 40: Hitachi Ltd.  Business Overview

Table 41: IBA Worldwide Financial Analysis

Table 42:IBA Worldwide Business Overview

Table 43:Sumitomo Heavy Industries Ltd.Financial Analysis

Table 44: Sumitomo Heavy Industries Ltd. Business Overview

Table 45:Advanced Oncotherapy plc. Financial Analysis

Table 46: Advanced Oncotherapy plc. Business Overview

Table 47: Mevion Medical Systems Inc.Financial Analysis

Table 48: Mevion Medical Systems Inc.Business Overview

Table 49: Provision Healthcare LLCFinancial Analysis

Table 50: Provision Healthcare LLC Business Overview

Table 51:Optivus Proto Therapy Inc. Financial Analysis

Table 52: Optivus Proto Therapy Inc.  Business Overview

Table 53: ProTom International Inc.  Financial Analysis

Table 54: ProTom International Inc.  Business Overview

Table 55:Danfysik A/SFinancial Analysis

Table 56: Danfysik A/SBusiness Overview

Table 57:Ion Beam Applications SAFinancial Analysis

Table 58: Ion Beam Applications SA Business Overview

Table 59: Brainlab Financial Analysis

Table 60: Brainlab Business Overview