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| Global Proton Therapy Market |
The global Proton Therapy Market is estimated to be valued at US$ 2,763.2 Mn or Mn in 2023 and is
expected to exhibit a CAGR of 13 %
over the forecast period 2023 to 2030, as highlighted in a new report published
by Coherent Market Insights.
Market Overview:
The proton therapy market involves the treatment of cancerous tumors using
proton beams. Proton therapy offers significant advantages over traditional
photon-based radiotherapy methods as it can precisely target tumors while
minimizing radiation exposure to surrounding healthy tissues. The devices used
in proton therapy work by accelerating protons to high energies and directing
them into the tumor using magnets. Proton therapy is most commonly used for
treating cancers around vital organs such as the brain, head and neck regions,
lungs, and prostate. With ongoing advancements in artificial intelligence and
machine learning, proton therapy providers are integrating these technologies
with treatment planning and delivery systems. This integration is expected to
enhance treatment precision and effectiveness over the forecast period.
Market key trends:
One of the major trends witnessed in the Global
Proton Therapy Market is the integration of artificial intelligence
capabilities. AI is being applied across the entire treatment workflow
including beam scanning, motion management, and treatment plan optimization.
For instance, AI-powered motion management helps track tumor motion in
real-time and adjusts the proton beam accordingly for enhanced accuracy. AI is
also assisting in automated treatment planning by learning from historical
plans and expediting the optimization process. Furthermore, AI-guided quality
assurance enables continuous monitoring of beam delivery quality and equipment
performance. The increasing investments by key players in developing AI-driven
proton therapy solutions are expected to drive advanced levels of customization
and effectiveness over the coming years.
Porter's Analysis
Threat of new entrants: The threat of new entrants is moderate due to the large
upfront capital requirement for installation of proton therapy centers.
However, increasing partnerships and collaborations between healthcare
providers and proton therapy developers can help reduce the entry barriers.
Bargaining power of buyers: The bargaining power of buyers is high due to the
presence of many healthcare providers and rising preference for value-based
healthcare services. Buyers can negotiate on the pricing and demand for
innovative solutions from proton therapy developers.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as
there are few suppliers of medical equipment and components for proton therapy
systems. However, companies are continuously expanding their product portfolios
and global footprint to cater to the growing demand.
Threat of new substitutes: The threat of new substitutes is low as proton
therapy provides more advantages over traditional cancer therapies through
precise radiation targeting and minimal side effects. However, alternative
radiotherapy approaches such as Carbon Ion therapy poses competition.
Competitive rivalry: The competitive rivalry is high owing to the presence of
many global and regional players offering innovative proton therapy solutions.
Companies compete based on product features, pricing, customization, and
quality of services.
Key Takeaways
The global Proton Therapy Market is expected to witness high growth, exhibiting
13% CAGR over the forecast period, due to increasing prevalence of cancer
worldwide.
Regional analysis: North America dominates the global proton therapy market.
Favorable reimbursement policies and rising adoption of advanced cancer
therapies drive the North America market. Asia Pacific is expected to exhibit
the fastest growth during the forecast period owing to improving healthcare
infrastructure and increasing healthcare spending in countries such as India,
China, and Japan.
Key players: Key players operating in the proton therapy market include Hitachi
Ltd, Ion Beam Applications S.A, Mevion Medical Systems, Mitsubishi Electric
Corporation. Companies are focusing on new product launches, partnerships, and
geographic expansions to strengthen their global presence. For instance, Ion
Beam Applications S.A launched new generation of proton therapy system
Proteus®PLUS in 2022 to offer enhanced treatment efficiency.
Read More: https://www.trendingwebwire.com/proton-therapy-market-analysis/