Portland, OR, July 06, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global proton therapy market generated $438.3 million in 2021, and is projected to reach $1.6 billion by 2031, witnessing a CAGR of 13.6% from 2022 to 2031. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Increase in prevalence of cancer, surge in number of awareness campaigns regarding benefits of proton therapy, and technological advancements in proton therapy devices drive the growth of the global proton therapy market. However, high cost of proton therapy hinders the growth of the market. On the other hand, the introduction of proton therapy in emerging economies is expected to generate potential opportunities for the market during the forecast period.
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COVID-19 Scenario:
- The outbreak of the COVID-19 pandemic led to have a slight negative impact on the growth of the global proton therapy market, especially during the initial period.
- However, the market resumed quickly as the demand for proton therapy increased to take care of regular patients who required radiation therapies.
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The report offers detailed segmentation of the global proton therapy market based indication, product type, end user, and region.
Based on product type, the accelerator segment held the highest market share in 2021, holding more than half of the total market share, and is expected to continue its leadership status during the forecast period. However, the nozzle and image viewers segment is estimated to register the highest CAGR of 16.2% from 2022 to 2031.
Based on end user, the hospitals segment held the largest market share in 2021, holding more than half of the total market share, and is expected to continue its leadership status during the forecast period. However, the proton therapy centers segment is projected to register the highest CAGR of 14.4% from 2022 to 2031.
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Based on region, North America is contributed to the highest share in terms of revenue in 2021, holding more than two-fifths of the total market share, and is estimated to continue its dominant share by 2031. However, the Asia-Pacific region is projected to manifest the fastest CAGR of 14.9% during the forecast period.
Leading players of the global proton therapy market analyzed in the research include Hitachi, Ltd., Ion Beam Applications S.A., Mevion Medical Systems, Mirion Technologies Ltd., Optivus Proton Therapy, Inc., Provision Healthcare, Pro Tom International, Siemens, Sumitomo Heavy Industries, Ltd., and Toshiba Corporation.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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