Particle Therapy Market Size, Share, Industry Analysis, Trends, Growth, 2030

Particle Therapy Industry Prospective:

The global particle therapy market size was worth around USD 700.98 million in 2022 and is predicted to grow to around USD 1,379.41 million by 2030 with a compound annual growth rate (CAGR) of roughly 8.83% between 2023 and 2030.

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Particle Therapy Market: Overview

Particle therapy is an emerging segment of the larger radiotherapy domain in the healthcare industry. It leverages characteristics of neutrons, protons, and carbon ions for treating several forms of cancer disease. The main reason for particle therapy being viewed as a safer option in comparison to other forms of cancer treatments is the reduced risk of damage to the health tissues during the treatment process. In particle therapy procedures, patients are subject to an intense external beam of radiation cancer therapy with the help of heavy ions, protons, and neutrons. As opposed to other radiation-based techniques such as X-rays, particle therapy ensures precise delivery of a particle beam which in turn ensures that the surrounding healthy areas or tissues do not get damaged in the process.

In recent times, a growing number of medical professionals have preferred particle therapy since it is one of the best options to treat cancers that are detected closer to sensitive areas in the body such as the heart or brain. During the projection period, the demand for particle therapy is expected to grow at a steady rate however, the particle therapy industry players will have to navigate through the rising cost of the machines.

Key Insights:

• As per the analysis shared by our research analyst, the global particle therapy market is estimated to grow annually at a CAGR of around 8.83% over the forecast period (2023-2030)
• In terms of revenue, the global particle therapy market size was valued at around USD 700.98 million in 2022 and is projected to reach USD 1,379.41 million, by 2030.
• The particle therapy market is projected to grow at a significant rate due to the growing number of cancer patients
• Based on cancer-type segmentation, pediatric cancer was predicted to show maximum market share in the year 2022
• Based on treatment segmentation, application treatment was the leading segment in 2022
• On the basis of region, North America was the leading revenue generator in 2022

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Particle Therapy Market: Growth Drivers

Growing number of cancer patients globally to drive market growth

The global particle therapy market is projected to grow owing to the increasing number of cancer patients across the globe. Cancer is considered the leading cause of death worldwide. As per official research, almost 10.1 million people every year die from cancer. In addition to this, the case detection rate has increased in the last decade. Cancer is considered one of the most urgent diseases that require global attention as it is a major health concern. As of 2023, cancer does not have a specific cure or a standard treatment procedure which depends on a case-to-case basis.

As per World Cancer Research Fund International, lung and breast cancers are the most common types of cancers worldwide with 12.2% and 12.5% of the total cancers belonging to these cancer types respectively. As the pressing need to develop better healthcare infrastructure around cancer treatment has intensified, the demand for particle therapy is likely to grow during the projection period.

Increasing investments in particle therapy treatment centers by the regional government and private companies to accelerate the market growth rate

Particle therapy is a highly efficient method of treating cancer. The procedure is widely accepted and preferred by medical professionals driven by improved patient safety and the precise results that professionals can achieve using particle therapy. This has led to more private and government-backed institutes investing in new and advanced cancer treatment centers with a special focus on particle therapy.

In July 2023, Apollo Hospitals, the first hospital brand in South Asia to launch the first facility offering proton therapy, announced that it would invest in the addition of two more centers in other parts of India thus contributing to the global particle therapy market. The first center was launched in India’s Chennai region and the total investment amounted to INR 1300 crore. Proton therapy is a type of particle therapy that uses proton beams for cancer treatment.

Particle Therapy Market: Restraints

High cost of treatment and equipment to restrict market expansion

The global industry for particle therapy is projected to be restricted due to the high cost of treatment associated with particle therapy. In addition to this, the equipment expense is equally high leading to a higher cost of treatment. This form of medical treatment is currently limited to only specific centers across the globe. The main reason is the use of highly advanced and specialized equipment for particle therapy leading to a lesser number of medical facilities being able to adopt the treatment process. Other forms of radiation therapy are commonly available and hence the cost of treatment is considered relatively affordable.

Particle Therapy Market: Opportunities

Growing number of medical insurance providers covering cancer treatment could act as a potential growth opportunity

The global particle therapy market can gain higher growth momentum as a result of an increasing number of medical insurance providers actively adding or covering cancer treatments. This will allow more people to have access to quality healthcare in the coming years.

In December 2023, Prudential Hong Kong, a leading insurance provider, announced its partnership with Zhongshan Chenxinghai Hospital of Integrated Traditional Chinese and Western Medicine (CXH) and Hong Kong Integrated Oncology Centre (HKIOC) for the introduction of Cross-Border Cashless Cancer Treatment Service to be made available in the Greater Bay region. The Hong Kong area is witnessing a sharp rise in cancer patients especially in the male population at an early age.

Ongoing research & development (R&D) for better understanding of particle therapy may deliver improved results

The global particle therapy industry is projected to be helped in terms of growth due to the increasing rate of R&D initiatives witnessed across the globe. In 2016, Ion Beam Applications (IBA), a leading technology healthcare giant, announced the launch of a novel online platform curated specifically to allow more research on particle therapy using open-source software.

In October 2023, Siteman Cancer Center at Barnes-Jewish Hospital and Washington University School of Medicine announced that it will expand its offering related to proton therapy with the help of the latest technologies including Adaptive Aperture® pMLC, HYPERSCAN® pencil beam scanning technology, and MEVION S250i Proton Therapy System®.

Particle Therapy Market: Challenges

Managing side effects of particle therapy could pose as growth hindering challenges

The global particle therapy market is projected to be challenged by several side effects associated with the treatment process. Some of the most commonly observed unwanted effects are soreness, low energy, hair loss, and reddened skin. While such side effects are common for almost all cancer treatment processes, they add to the existing discomfort among patients.

Particle Therapy Market: Segmentation

The global particle therapy market is segmented based on cancer type, type, application, system, and region.

Based on cancer type, the global market segments are breast cancer, pediatric cancer, brain cancer, lung cancer, and others. In 2022, the highest growth was observed in the pediatric cancer segment. The increasing number of pediatric cancer cases has resulted in greater efforts taken toward managing cancer in children. As per the Olivia Caldwell Foundation, around 250 cancer-detected children die every day. The growing number of treatment and medical reimbursement policies for pediatric cancer is prompting higher segmental demand.

Based on type, the global market is divided into heavy-ion therapy and proton therapy.

Based on application, the global particle therapy market is divided into research application and treatment application. In 2022, the highest CAGR was observed in the treatment application. This is a result of growing awareness about particle therapy and the introduction of new, advanced treatment facilities offering particle therapy. The rising conversations globally about managing the high cost of particle therapy treatment as well as improved government initiatives may drive segmental demand. The American Institute of Cancer Research (AICR) has funded cancer research programs worth USD 110 million.

Based on the system, the global market segments are single-room systems and multi-room systems.

Particle Therapy Market: Report Scope

Particle Therapy Market: Regional Analysis

North America to emerge as the highest revenue generator

The global particle therapy market is projected to witness the highest growth in North America. The US has an established and thriving ecosystem for cancer research. While the region hosts a growing number of cancer patients from across the globe, it also has a high number of domestic cancer cases. The presence of a widespread health insurance scheme allows more people to access the country’s robust healthcare infrastructure. Europe is a fast-growing market in terms of particle therapy research and treatment.

In May 2023, Belgium-based IBA announced the launch of its latest offerings in terms of radiation therapy Quality Assurance at the European Society for Therapeutic Radiology and Oncology (ESTRO) yearly meeting. IBA is one of the global leaders making breakthrough strides in the particle therapy segment.

In August 2023, Swiss Re, an international insurance provider, announced a new strategic collaboration with Income Insurance Limited (Income Insurance). The firms will develop the world’s first cancer insurance product that is guaranteed to provide options for post-cancer terms while also providing financial assistance during treatment and recovery. The new program is called Complete Cancer Care and will be helpful to patients diagnosed with cancer.

Particle Therapy Market: Competitive Analysis

The global particle therapy market is led by players like:

• Varian Medical Systems Inc.
• Ion Beam Applications S.A. (IBA)
• Optivus Proton Therapy Inc.
• Hitachi Ltd.
• ProNova Solutions LLC
• Mitsubishi Electric Corporation
• RaySearch Laboratories AB
• Accuray Incorporated
• ProTom International
• Danfysik A/S
• Mevion Medical Systems
• Provision Healthcare
• Sumitomo Heavy Industries Ltd.
• Elekta AB
• Advanced Oncotherapy plc.

The global particle therapy market is segmented as follows:

By Cancer-Type

• Breast Cancer
• Pediatric Cancer
• Brain Cancer
• Lung Cancer
• Others

By Type

• Heavy-Ion Therapy
• Proton Therapy

By Application

• Research Application
• Treatment Application

By System

• Single-Room Systems
• Multi-Room Systems

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa