by Proton therapy, also known as proton beam therapy, is a type of radiation treatment that uses protons rather than x-rays to treat cancer. Protons allow for a more targeted cancer treatment as the proton beam deposits most of its energy at the tumor site, minimizing damage to surrounding healthy tissues. The precise targeting allows for higher doses of radiation to be used which can more effectively destroy cancer cells while sparing more of the normal tissues.
The Global Proton Therapy Market is estimated to be valued at US$ 3183.21 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Proton Therapy Market are Silicon Labs, Aeotec (formerly Aeon Labs), Fibaro, Qolsys, Zooz, HomeSeer, Leviton, Everspring, Vision Security, Jasco (GE/Jasco). Key players are focusing on new product launches, mergers, acquisitions and partnerships to strengthen their market presence. For instance, in 2022 Silicon Labs launched Matter-enabled smart home development kit to simplify product development for smart home devices.
The key opportunities in the market include growing healthcare infrastructure especially in developing regions, increasing awareness about Proton Therapy Market Size and growth in geriatric population prone to cancer. The global expansion of the market is driven by new proton therapy center openings across regions, availability of funding and insurance coverage for treatment, and partnerships between key players and hospitals.
Market Drivers
One of the key drivers for the proton therapy market growth is increasing incidence of cancer cases globally. According to WHO, cancer burden rose to 19.3 million new cases and 10.0 million cancer deaths in 2020 worldwide. Rising pollution levels, growing consumption of tobacco & alcohol, changing lifestyles and an aging population are some of the factors attributing to rising cancer burden. With a higher efficacy and precision as compared to other radiation therapies, demand for proton therapy is expected to rise with growing cancer prevalence.
PEST Analysis
Political: The Proton Therapy Market Size And Trends may be impacted by regulatory changes around healthcare policies and funding for advanced medical technologies. Governments play a key role in supporting innovation and access to emerging treatments.
Economic: Economic growth affects the availability of healthcare spending. A stable economy allows both public and private sources to invest in new cancer treatment facilities and expanding access to proton therapy.
Social: As standards of cancer care advance, public awareness of proton therapy options increases demand. As the population ages, more patients could potentially benefit from proton’s advantages over photon-based therapies in certain cases.
Technological: Continued improvements to proton therapy systems including cost reductions, system miniaturization, and integration with multimodality imaging are helping to drive clinical applications and facility expansion. Advances may support broader insurance coverage and referrals over time.
The geographical regions where the proton therapy market is currently concentrated in terms of value are North America and Europe. These developed markets have the most established clinical history and commercial infrastructure to support specialty centers. However, the fastest growing region for proton therapy is expected to be Asia Pacific as countries like China and India increase healthcare investments and more facilities come online to serve greater populations. The region’s economic growth supports both public and private funding of advanced cancer technologies.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
