Particle Therapy Market Size with Growth Opportunities, Future Trends and Share with Revenue Forecast 2022 to 2031

Kenneth Research recently added a report on ‘Particle Therapy Industry Market’ in its database of market research reports which provides its readers an in-depth analysis on the latest trends, growth opportunities and growth drivers that are associated with the growth of the market. The report additionally shares critical insights on the COVID-19 impacts on the Particle Therapy Industry Market, along with the compound growth rate (CAGR) of the market for a projected period between 2022 and 2031. The report also includes analysis of the market by utilizing different analytical tools, such as PESTEL analysis and Porter’s five forces analysis. These tools also provide an in-depth analysis on the micro and macro-environmental factors that are associated with the growth of the market during the forecast period.

In Q4 2021, U.S. current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, country’s goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches highest at 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point impacting the economic activity in the U.S, pushing consumers to spend less on the products and services and save more.

On the other hand, the worst is expected to be seen in the European countries, especially during 2022 winters. The energy and gas crises has already started grappling the region, wherein many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage created by Russian-Ukraine conflict.

Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.

Healthcare Companies and Private Service Providers to have a minimal damage Caused by Inflation:

As US govt. remains committed to quality by spending more in the Medicaid and Medicare programs, incentives by govt. to medical devices, pharma companies and biotech to benefit the market players in short and long term goals. In 2021, U.S. spent $12,318/person on healthcare- highest amongst all OECD countries followed by Germany at $7,383. The federal government commitment towards healthcare systems to enable market players expanding their revenues and mitigating the risk posed by the inflation. 

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Factors driving market growth include the benefits of particle therapy and the increase in global cancer prevalence. It has been found that the number of people with various types of cancer is an important determinant of this market. Cancer is one of the main life-threatening diseases of our time.

According to the World Health Organization, cancer is the second leading cause of death in the world, causing approximately 9.6 million deaths in 2018. Globally, approximately one in six deaths is caused by cancer. Approximately 70% of cancer deaths occur in low- and middle-income countries. As particle therapy is used to treat cancer, the increasing popularity of particle therapy is expected to be the main driving force for the growth of this market.

Report scope: 

According to the report scope, particle therapy is the frontier field of external beam radiotherapy. It uses neutron beams, proton beams or other heavier positive ion beams to treat cancer.

Main market trends:  

It is expected that the application of particle therapy in lung cancer will maintain a considerable share in the prognosis period. When traditional radiotherapy is used to treat lung cancer, it is difficult to provide effective doses without harming healthy tissues. Using proton therapy to treat lung cancer, doctors can deliver efficient and precise doses of protons to the exact location of the lung cancer.

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Proton therapy for lung cancer has been proven to be a reasonable treatment for patients whose cancer is confined to the chest; in addition, according to a 2018 report by the World Health Organization, lung cancer is the world’s leading form of cancer and cause of death. The report shows that there are 2.09 million cases of lung cancer and 1.76 million cases of lung cancer, ranking first among all cancers. This factor is expected to increase the demand for more effective therapies such as particle therapy, thereby driving market growth.

North America dominates the market and is expected to do so during the forecast period:
North America dominates the global market studied in 2020. Almost half of cancer patients in this region, especially in the United States, receive cancer treatment. The United States has the largest radiotherapy market. The market is driven by factors such as the increase in cancer incidence, the replacement of old therapies with new therapies, and the availability of reimbursement for radiotherapy.

Some states in the United States have passed laws requiring personnel who perform radiological procedures to obtain permits. Changes in the legislature and the availability of reimbursement policies have prompted providers to control costs while improving patient care and treatment outcomes. With substantial investment in the research and development of innovative technologies for particle therapy, the market is expected to grow during the forecast period.

North America dominates the market and is expected to do so during the forecast period: North America dominated the global market studied in 2020. Almost half of cancer patients in this region, especially in the United States, receive cancer treatment.

The United States has the largest radiotherapy market. The market is driven by factors such as the increase in cancer incidence, the replacement of old therapies with new therapies, and the availability of reimbursement for radiotherapy. Some states in the United States have passed laws requiring personnel who perform radiological procedures to obtain permits. Changes in the legislature and the availability of reimbursement policies have prompted providers to control costs while improving patient care and treatment outcomes. With substantial investment in the research and development of innovative technologies for particle therapy, the market is expected to grow during the forecast period.

Competitive landscape: 

The global particle therapy market is moderately competitive and consists of several major players. Danfysik A/S, Hitachi, Ltd., Ion Beam Applications Sa (IBA), Mevion Medical Systems, Inc., Optivus Proton Therapy, Inc., Protom International, Inc., Provision Healthcare, LLC, Sumitomo Heavy Industries, Ltd., Companies such as Varian Medical Systems, Inc. have considerable market shares in the particle therapy market.”

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