[Research Report] The proton therapy systems market is projected to grow from US$ 1,262.45 million in 2022 to US$ 2,945.14 million by 2030; it is estimated to record a CAGR of 11.2% during 2022–2030.
Market Insights and Analyst View:
The proton therapy systems market forecast can help stakeholders in this marketplace outline their growth strategies.
A proton therapy system is an advanced medical device employed to provide a highly precise radiation treatment for tumors. These systems are huge in size, and they consist of an accelerator (cyclotron), beam transport system, energy selection system, and rotating gantry irradiation equipment. Due to its effectiveness in treating certain types of cancer, there has been a growing demand for proton therapy worldwide. Factors such as rising demand for advanced treatments with the surging cancer incidence, and increasing government support for proton therapy centers propel the proton therapy systems market growth. However, the high cost and large area of proton therapy systems hamper the growth of the market. Further, the growing adoption of personalized treatment approaches with technological advancements is expected to bring new proton therapy systems market trends in the coming years.
Growth Drivers:
Rising Demand for Advanced Treatments with Surging Cancer Incidence Drives Market Growth
As per the International Agency for Research on Cancer (IARC), lung, breast, and prostate cancer types had the highest incidence rate in 2022. These diseases have an age-standardized rate of 23.6, 47.1, and 29.4 cases per 100,000 population, respectively. According to the estimates by IARC, the number of total cancer cases is expected to jump from 19.98 million in 2022 to 23.71 million by 2030 and 30.97 million by 2045. Various cancer conditions, such as head and neck cancers (nasal, oral, eye, and larynx) and brain cancers have precise treatment requirements, which results in a high demand for advanced treatment approaches such as intensity-modulated proton therapy (IMPT). In traditional radiation therapies, such as X-ray radiation therapy, the healthy tissue around the tumor also receives a dose of radiation, which leads to side effects and may cause secondary cancers. However, proton therapy aids in the effective treatment of complicated tumors in the brain, and head and neck region while minimizing the collateral damage to nearby tissues. Thus, the high prevalence of cancer and demand for advanced treatments boost the demand for proton-based radiotherapy, fueling the proton therapy systems market growth.
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Proton Therapy Systems Market: Strategic Insights
Market Size Value in US$ 1,262.45 million in 2022 Market Size Value by US$ 2,945.14 million by 2030 Growth rate CAGR of 11.2% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Proton Therapy Systems Market: Strategic Insights
Market Size Value in | US$ 1,262.45 million in 2022 |
Market Size Value by | US$ 2,945.14 million by 2030 |
Growth rate | CAGR of 11.2% from 2022 to 2030 |
Forecast Period | 2022-2030 |
Base Year | 2022 |
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High Cost and Large Area of Proton Therapy Systems
A proton therapy system is an advanced medical device used in highly precise radiation treatment for tumors. It is a huge medical device that consists of an accelerator (cyclotron), beam transport system, energy selection system, and rotating gantry irradiation equipment, which results in large surface areas and high cost of equipment. According to the University of Pennsylvania (Oncolink), cyclotrons of the proton therapy systems weigh up to 200 tons and have 6–12 feet of diameter. The gantry can be 100 tons in weight and 40 feet in diameter. According to a study published (2021) in IOPscience, even the compact design (single-room setup) entails an area of 100 sq. m., while multi-room proton therapy systems occupy 200–400 sq. m. of area.
Further, proton therapy systems are highly capital-intensive. For instance, a single-room system may cost nearly US$ 30–50 million. The cost of multi-gantry proton systems may start from US$ 300 million onwards, and they are usually installed only in large hospitals and university systems. Therefore, high capital investment requirements and large installation areas are among the factors hindering the growth of the proton therapy systems market.
Report Segmentation and Scope:
The proton therapy systems market analysis has been carried out by considering the following segments: setup type and application.
By setup type, the market is bifurcated into single room and multi room. The multi room segment held a larger proton therapy systems market share in 2022. Further, the single room segment is anticipated to register a faster CAGR during the forecast period.
The market, by application, is categorized into brain and central nervous system cancer, head and neck cancer, prostate cancer, breast cancer, lung cancer, gastrointestinal cancer, and others. The brain and central nervous system cancer segment held the largest proton therapy systems market share in 2022, and it is anticipated to register the highest CAGR during the forecast period.
Regional Analysis:
In terms of geography, the scope of the proton therapy systems market report includes North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In 2022, North America accounted for the largest market share. The growing acceptance and adoption of the latest medical devices, the high prevalence of cancer, and product innovations by key players contribute to the expansion of the proton therapy systems market size in North America. According to the American Cancer Society estimates, the US recorded ~1.95 million new cancer cases and ~0.61 million mortalities related to the disease in 2023, exhibiting a significant increase from 1.60 million cancer cases and 0.60 million deaths reported in 2020. As per the Particle Therapy Co-Operative Group, at the end of 2023, the US had the highest number of proton therapy systems globally, with 46 proton therapy treatment facilities.
Proton Therapy Systems Market Report Scope
Industry Developments and Future Opportunities:
A few strategic developments by leading players operating in the proton therapy systems market, as per the company press releases, are listed below:
- In January 2024, OncoRay launched the prototype for a whole-body MRI-guided proton therapy system for the real-time tracking of moving tumors using magnetic resonance imaging (MRI) during proton therapy. The MRI aids in the visualization of tumors in enhanced contrast, which is its major advantage over conventional imaging modalities. Better contrast makes it possible to better delineate the tumor from surrounding healthy tissue and to define the volume to be irradiated with greater accuracy.
- In December 2023, HKSH Medical Group opened a new proton therapy center at the HKSH Eastern Medical Centre in A Kung Ngam, Shau Kei Wan, Hong Kong. The new center features an advanced proton therapy system and two state-of-the-art treatment rooms. The system includes two half-rotating proton therapy gantries, the latest beam transport system, and a synchrotron-based accelerator.
Competitive Landscape and Key Companies:
Varian Medical Systems Inc, Sumitomo Heavy Industries Ltd, Hitachi Ltd, Ion Beam Applications SA, Mevion Medical Systems, Provision Healthcare LLC, ProTom International, Optivus Proton Therapy Inc, Advanced Oncotherapy plc, and B dot Medical Inc are among the prominent companies profiled in the proton therapy systems market report. These companies focus on developing new technologies, upgrading existing products, and expanding their geographic presence to meet the growing consumer demand worldwide.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Setup Type, Application, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
A proton therapy system is an advanced medical device employed to provide a highly precise radiation treatment for tumors. These systems are huge in size, and they consist of an accelerator (cyclotron), beam transport system, energy selection system, and rotating gantry irradiation equipment. Due to its effectiveness in treating certain types of cancer, there has been a growing demand for proton therapy worldwide.
Factors such as rising demand for advanced treatments with the surging cancer incidence, and increasing government support for proton therapy centers propel the proton therapy systems market growth. However, the high cost and large area of proton therapy systems hamper the growth of the market.
The proton therapy systems market is expected to be valued at US$ 2,945.14 million in 2030.
The proton therapy systems market majorly consists of the players, including Varian Medical Systems Inc, Sumitomo Heavy Industries Ltd, Hitachi Ltd, Ion Beam Applications SA, Mevion Medical Systems, Provision Healthcare LLC, ProTom International, Optivus Proton Therapy Inc, Advanced Oncotherapy plc, and B dot Medical Inc
By setup type, the market is bifurcated into single room and multi room. The multi room segment held a larger proton therapy systems market share in 2022. Further, the single room segment is anticipated to register a faster CAGR during the forecast period.
The proton therapy systems market was valued at US$ 1,262.45 million in 2022.
The market, by application, is categorized into brain and central nervous system cancer, head and neck cancer, prostate cancer, breast cancer, lung cancer, gastrointestinal cancer, and others. The brain and central nervous system cancer segment held the largest proton therapy systems market share in 2022, and it is anticipated to register the highest CAGR during the forecast period.
1. Introduction
1.1 Scope of the Study
1.2 Market Definition, Assumptions and Limitations
1.3 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness Analysis
3. Research Methodology
4. Proton Therapy Systems Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. Proton Therapy Systems Market - Key Market Dynamics
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. Proton Therapy Systems Market - Global Market Analysis
6.1 Proton Therapy Systems - Global Market Overview
6.2 Proton Therapy Systems - Global Market and Forecast to 2030
7. Proton Therapy Systems Market – Revenue Analysis (USD Million) – By Set-up Type, 2020-2030
7.1 Overview
7.2 Single Room
7.3 Multi Room
8. Proton Therapy Systems Market – Revenue Analysis (USD Million) – By Application, 2020-2030
8.1 Overview
8.2 Brain and Central Nervous System Cancer
8.3 Head and Neck Cancer
8.4 Prostate Cancer
8.5 Breast Cancer
8.6 Lung Cancer
8.7 Gastrointestinal Cancer
8.8 Others
9. Proton Therapy Systems Market - Revenue Analysis (USD Million), 2020-2030 – Geographical Analysis
9.1 North America
9.1.1 North America Proton Therapy Systems Market Overview
9.1.2 North America Proton Therapy Systems Market Revenue and Forecasts to 2030
9.1.3 North America Proton Therapy Systems Market Revenue and Forecasts and Analysis - By Set-up Type
9.1.4 North America Proton Therapy Systems Market Revenue and Forecasts and Analysis - By Application
9.1.5 North America Proton Therapy Systems Market Revenue and Forecasts and Analysis - By Countries
9.1.5.1 United States Proton Therapy Systems Market
9.1.5.1.1 United States Proton Therapy Systems Market, by Set-up Type
9.1.5.1.2 United States Proton Therapy Systems Market, by Application
9.1.5.2 Canada Proton Therapy Systems Market
9.1.5.2.1 Canada Proton Therapy Systems Market, by Set-up Type
9.1.5.2.2 Canada Proton Therapy Systems Market, by Application
9.1.5.3 Mexico Proton Therapy Systems Market
9.1.5.3.1 Mexico Proton Therapy Systems Market, by Set-up Type
9.1.5.3.2 Mexico Proton Therapy Systems Market, by Application
Note - Similar analysis would be provided for below mentioned regions/countries
9.2 Europe
9.2.1 Germany
9.2.2 France
9.2.3 Italy
9.2.4 Spain
9.2.5 United Kingdom
9.2.6 Rest of Europe
9.3 Asia-Pacific
9.3.1 Australia
9.3.2 China
9.3.3 India
9.3.4 Japan
9.3.5 South Korea
9.3.6 Rest of Asia-Pacific
9.4 Middle East and Africa
9.4.1 South Africa
9.4.2 Saudi Arabia
9.4.3 U.A.E
9.4.4 Rest of Middle East and Africa
9.5 South and Central America
9.5.1 Brazil
9.5.2 Argentina
9.5.3 Rest of South and Central America
10. Industry Landscape
10.1 Mergers and Acquisitions
10.2 Agreements, Collaborations, Joint Ventures
10.3 New Product Launches
10.4 Expansions and Other Strategic Developments
11. Competitive Landscape
11.1 Heat Map Analysis by Key Players
11.2 Company Positioning and Concentration
12. Proton Therapy Systems Market - Key Company Profiles
12.1 Varian Medical Systems Inc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
Note - Similar information would be provided for below list of companies
12.2 Hitachi Ltd
12.3 Sumitomo Heavy Industries Ltd
12.4 Ion Beam Applications SA
12.5 Mevion Medical Systems
12.6 Provision Healthcare LLC
12.7 ProTom International
12.8 Optivus Proton Therapy Inc
12.9 Advanced Oncotherapy plc
12.10 B dot Medical Inc
13. Appendix
13.1 Glossary
13.2 About The Insight Partners
13.3 Market Intelligence Cloud
The List of Companies - Proton Therapy Systems Market
- Varian Medical Systems Inc
- Hitachi Ltd
- Sumitomo Heavy Industries Limited
- Ion Beam Applications SA
- Mevion Medical Systems
- Provision Healthcare LLC
- ProTom International
- Optivus Proton Therapy Inc
- Advanced Oncotherapy plc
- B dot Medical Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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