The global particle therapy market is projected to reach USD 1,349 million by 2023 from USD 865 million in 2018, at a CAGR of 9.3%.
The advantages offered by particle therapy over photon therapy, the growing global prevalence of cancer, growing adoption of particle therapy in clinical trials, and the increasing number of particle therapy centers worldwide are the major factors driving the growth of the particle therapy market.
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On the basis of type, the particle therapy market is segmented into proton therapy and heavy ion therapy. The heavy ion therapy segment is expected to witness the highest growth rate during the forecast period. Growth in this market segment is primarily attributed to the growing research activities in this field.
Based on system, the particle therapy market is segmented into single-room and multi-room systems. The single-room systems segment is expected to register the highest growth rate during the forecast period. With the growing trend of reducing the footprint of particle therapy products, the market has witnessed the development and commercialization of compact, single-room systems. Such systems are increasingly being recognized for their lower financial footprint and reduced space requirements. The favorable market outlook for single-room systems has prompted a number of players to focus on their development and commercialization.
Based on region, the global particle therapy market is segmented into Europe, North America, Asia Pacific, and the Rest of the World (RoW). The market in the Asia Pacific is projected to register the highest CAGR during the forecast period. Factors such as the improving healthcare infrastructure and growing initiatives to promote the use of particle therapy for cancer treatment are driving the growth of the particle therapy market in the Asia Pacific. Owing to the high-growth potential in the region, leading product manufacturers are undertaking strategic initiatives such as agreements, collaborations, and expansions to increase their presence in the Asia Pacific particle therapy market.
