Market Research Of Global Proton Therapy Market By Knowledge Sourcing Intelligence
INTRODUCTION
The global
proton therapy market is anticipated to witness a compound annual growth rate
of 4.03% during the forecast period to reach a market size of US$2.305
billion in 2023, increasing from US$1.819 billion in 2017. The proton
therapy market growth is expected to be driven by a surge in demand for
cancer therapy procedures from the cancer
therapy centers. Moreover, according to WHO cancer is the second
leading cause of deaths globally and is responsible for an estimated 9.6
million deaths in 2018. Globally, about 1 in 6 deaths occur due to cancer.
Tumors are a
group of cells which behave abnormally and form lumps or growths. With
patient-specific hardware, the radiologist can sculpt the proton beam,
customizing it to strike within the borders of the tumor, regardless
of the shape. Market Research is done by
the knowledge sourcing industry due to the huge scope with the respective
industry.
Under proton
therapy, the tumor can be hit with proton beams from different directions.
This further ensures that damage to surrounding cells is kept to a minimum
level, reducing the risk of complications usually associated with radiation
therapy. This is leading to an increasing number of patients undergoing proton
therapy treatment. Simultaneously, the government expenditure for the
construction of the proton therapy centers has increased over
the years and is further complementing the market
growth. However, the high cost of treatment and the availability
of cost-effective conventional radiation therapies is significantly
impacting the revenue generation opportunity for the proton therapy market.
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| sample view of global proton therapy market shares |
Proton therapy market by Application
By application,
the proton therapy market is segmented as prostate cancer, breast cancer, lung
cancer, pediatric conditions, and others. Proton therapy for lung
cancer applications is estimated to hold a sign in the market owing to
the rising number of populations suffering from the disease. Proton
therapy for pediatric use will also show considerable growth at a CAGR
of XX% due to the lower risk of side effects from proton therapy as
compared to conventional therapies in children.
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| sample view of global proton therapy market shares by application |
Lung Cancer
The proton therapy market for lung cancer is estimated to hold a significant share in
the overall proton therapy market and is projected to grow at a CAGR
of XX.XX% during the forecast period, increasing from US$XX.XX billion in
2017 to reach US$XX.XX billion in 2023. The rise in the market may be
attributed to the rising patient base across the globe. As per American Cancer
Society’s estimates, about 234,030 new cases of lung
cancer have emerged in the U.S. in 2018 till now with about
154,050 deaths. Similarly, as per data by the British Lung Foundation,
prevalence rates for lung cancer have risen by 23% since 2004.
Therefore, increasing the patient base will be the key driver accelerating the
growth of the proton therapy market for lung cancer during the forecast
period.
Proton Therapy Market by Geography
By geography,
the proton therapy market is segmented as North America, South America,
Europe, Middle East, and Africa, and the Asia Pacific. Furthermore, country-level analysis is also provided within the regions. The North America
proton therapy market is estimated to grow rapidly during the forecast period
on account of growing expenditure on the construction of proton therapy
centers. Simultaneously, in Europe, the growing prevalence of cancer is
supplementing the growth of the market, however, limited insurance coverage and
high cost of the therapy is impacting the growth of the market in the
developing regions and some parts of developed regions.
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sample view of global proton therapy market shares by geography
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The prevalence
of cancer is increasing in the United States, with the number of new cancer
cases per year estimated to be 439.2 per 100,000 (Source: National Cancer
Institute, the U.S Department of Health and Human Services). It
is leading to an increase in the number of hospitalizations and
visits to the physician for the purpose of treatment. This is
supporting the growth of the United States proton therapy market, with the
market size estimated to increase from US$XX.XX billion in 2017 to US$XX.XX
billion in 2023. The number of individuals treated with proton therapy is
increasing on account of perceived benefits in terms of the reduced side
effects as compared to conventional radiation therapies. Simultaneously,
the demand for proton therapy is also increasing in the United States on
account of the growing preference for non-invasive treatment. In fact, the
number of proton therapy treatment centers has more than doubled since
2012. In March 2018, Miami Cancer Institute opened South Florida’s
first proton therapy center. Similarly, in December 2017, California Proton
Therapy Center, LLC relaunched ‘California Proton’- a proton therapy center in
San Diego. Moreover, the number of patients treated with proton therapy in
the United States increased by 70% from 2012 to 2016 (Source: National
Association for Proton Therapy).
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