Increasing prevalence of cancer is compelling healthcare organizations to adopt and develop more advanced treatment processes. In recent years, proton radiotherapy has emerged as one of the most effective cancer treatment in the world. Owing to its overwhelming success, the particular therapy has gained healthy popularity amongst doctors and patients all over the world. In most cases, the therapy gives positive results in destroying tumor cells by eliminating their DNA using high-intensity radiation dosage that is deposited on the target. In addition, medical professionals having specialization in cancer treatment prefer and recommend proton therapy owing to its feasibility and compatibility with other treatments. Such aforementioned factors are promoting the adoption of proton therapy treating carcinogenic abnormalities.
According to the latest data released by Persistence Market Research (PMR), the global proton therapy market will garner over US$ 2,926.7 Million in revenues by 2024-end. The market is currently valued around US$ 945 Million and is projected to expand at a robust CAGR of over 15%. Authorities and medical institutes will continue to invest heavily on further research and development of cancer drugs, medications and therapies. This, in turn, is expected to support the growth of the global market for proton therapy. As compared to radiation or chemotherapy, proton therapy is more effective and has additional benefits, which also translate into a rapid growth of its market in terms of revenue. On the basis of region, the market in North America is expected to command for close to 30% revenue share of the market during the assessment period. Meanwhile, Europe is projected to hold the top spot in the global market for proton therapy, accounting for nearly 38% share and witnessing a CAGR of over 15%.
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The data further revealed that companies such as Mitsubishi Electric Corporation, Sumitomo Heavy Industries Ltd., Mevion Medical Systems, ProNova Solutions, LLC, Hitachi Ltd., Varian Medical Systems, Ion Beam Applications SA, ProTom International rank amongst key players operating in the global market for proton therapy.
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Some of the Key points from the PMR’s data on global proton therapy market include:
• On the basis of set ups, demand for multiple-room proton therapy is expected to witness a healthy growth, commanding for over 70% revenue share of the global market by the end of assessment period.
• Increasing focus on manufacturing compact set up for treatment is anticipated to benefit the overall market, as these compact segments are more cost effective and do not compromise on product efficiency.
• While flexible payment options encourage their adoption in healthcare organizations, high –cost of such devices remains a major growth deterrent.
• Amongst various cancer types, the use of proton therapy will be more in treating gastro-intestinal cancer, head & neck cancer, lung cancer and pediatric cancer.
• In addition, increasing preference for non-invasive procedures for removing cancerous tumors will also positively influence the market growth.
• It is projected that the demand for proton therapy might be hampered due to the risk of side-effects which include skin irritation, skin blistering, swelling and fatigue.
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