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Proton Therapy Systems Market Size, Share Analysis And Growth Analysis By 2033
Proton Therapy Systems Market Size
According to The Business Research Company's, The proton therapy systems market size has grown rapidly in recent years. It will grow from $1.17 billion in 2023 to $1.29 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to increasing incidence of cancer, increased awareness among healthcare professionals, expansion of healthcare infrastructure, rising healthcare expenditure, demand for non-invasive treatment options.
The proton therapy systems market size is expected to see rapid growth in the next few years. It will grow to $1.94 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to increasing cancer burden, increasing adoption of proton therapy, increased adoption in pediatric oncology, increasing preference for outpatient cancer treatment settings, growing emphasis on environmental sustainability. Major trends in the forecast period include adoption of proton therapy, technological advancements, integration of artificial intelligence, adoption of pencil beam scanning technology, hypo fractionated proton therapy.
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Market Drivers and Trends:
The increasing prevalence of cancer is expected to propel the growth of the proton therapy systems market going forward. Cancer is a collection of disorders defined by abnormal cell proliferation that can invade and spread throughout the body. The increasing prevalence of cancer can be attributed to factors such as aging populations, lifestyle changes, environmental exposures, and improved detection and diagnosis methods. Proton therapy systems are used in cancer treatment due to their ability to precisely target tumors with high doses of radiation while minimizing damage to surrounding healthy tissue, potentially reducing side effects, and improving treatment outcomes. For instance, in January 2023, according to the American Cancer Society, a US-based nonprofit cancer advocacy organization, the number of cancer cases increased to 1,958,310 in 2023, reflecting a growth of 3.16% from 1,898,160 in 2021. Therefore, the increasing prevalence of cancer is driving the development of the proton therapy systems market.
Major companies operating in the proton therapy systems market are focusing their efforts on the development of more compact and accessible systems., such as self-shielded proton accelerators, to address challenges related to facility space and installation complexity. A self-shielded proton accelerator enhances safety and simplifies installation by reducing external shielding structures typically required for conventional proton therapy systems. For instance, in October 2022, Mevion Medical Systems, a US-based medical equipment company, unveiled its latest innovation, the MEVION S250-FIT proton therapy system. This system, which uses Mevion's innovative self-shielded proton accelerator, is the industry's first and only comprehensive proton treatment solution that can be used with existing LINAC vaults. It supports the rapid integration of emerging technologies such as ARC therapy. The FIT system promises to drastically reduce barriers to proton treatment adoption.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Mitsubishi Electric Corporation, Toshiba Corporation, Siemens Healthineers, Koninklijke Philips N.V., GE Healthcare, Sumitomo Heavy Industries Ltd., Hitachi High-Tech Corporation, Acibadem Healthcare Group, Elekta AB, Mirion Technologies, Ion Beam Applications SA, Sirtex Medical Limited, RaySearch Laboratories, Mevion Medical Systems, Sun Nuclear Corporation, ITEL Telecomunicazioni S.r.l, Advanced Oncotherapy plc, Provision Healthcare, Optivus Proton Therapy Inc., Provision Proton Partners International, Danfysik A/S, ProTom International, Best Cyclotron Systems, ACCEL Instruments GmbH, P-Cure Ltd.
Proton Therapy Systems Market 2024 Key Insights:
• The proton therapy systems market size is expected to see rapid growth in the next few years. It will grow to $1.94 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%.
• Harnessing Proton Therapy Systems In Response To Growing Cancer Rates
• Revolutionizing Proton Therapy With Compact And Accessible Systems
• North America was the largest region in the proton therapy systems market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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