Proton Therapy Systems Market Report

Proton Therapy Systems Market Analysis By Product (Equipment, Services), By Type (Single-Room Systems, Multiroom Systems), By Region (North America, Europe, Asia Pacific, LATAM, MEA), And Segment Forecasts, 2014 - 2025

Published: July 2017  |  77 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-499-4

Industry Insights

The global proton therapy systems market size was valued at USD 1,099.2 million in 2016 and is projected to grow at a CAGR of 3.1% during the forecast period. Rising number of proton therapy centers, increasing cancer prevalence, and higher precision offered by this treatment procedure are factors responsible for growth of this market.

In addition, decreasing cost of proton therapy (PT) equipment and increasing adoption for treatment using this equipment are other factors boosting market growth. The price of these equipment has decreased from USD 100 million to USD 25-40 million in 2016, making it affordable for several hospitals. Furthermore, increased availability of PT centers has reduced the cost of procedure and waiting time for patients.

Proton therapy systems market, by product, 2014 - 2025 (USD Million)

Proton therapy systems market

However, the construction of a PT center is still expensive and its cost of installation is expected to be between USD 100 to 200 million. Thus, many emerging nations like Brazil cannot afford these centers. Patients in countries such as Brazil and Mexico need to travel to other countries for availing this treatment. Moreover, lack of reimbursement further restrains the demand for PT in emerging nations.

Key players in this market are collaborating and partnering with other companies to improve their technologies. For instance, in May 2017, Mevion entered into a strategic collaboration with medPhoton GmbH, to integrate medPhoton’s ImagingRing with the MEVION S250i with HYPERSCAN system, for delivering precise and efficient treatment. Similarly, in September 2016, IBA and Royal Philips together launched Ambient Experience solution for the proton therapy gantry of IBA’s Proteus PLUS. The new patient-centric solution was designed to increase patient comfort and operational effectiveness.

Product Insights

The market is segmented into equipment and services based on product offerings of various manufacturers. In 2016, the equipment segment held the largest share, by product. Technological advancements and growing adoption of PT are key factors responsible for the largest share of this segment. Furthermore, increasing prevalence of cancer, rising hospital investments, and decreasing costs of equipment are other key factors responsible for the largest share of this segment.

The services market is likely to experience a sluggish growth during the forecast period. Increasing number of PT equipment, installation, and their rising usage can be attributed to growth of this segment. Technological advancements in single-room equipment are further expected to propel the demand for PT services as their installation time is less and are priced less.

In the recent years, there has been a significant rise in the number of proton therapy centers globally. According to the Particle Therapy Cooperative Group (PTCOG), the number of centers in 2014 was 14% greater than 2013. Moreover, this number is expected to reach 100 by the end of 2018. In addition, according to IBA, the number of proton therapy rooms in 2015 was 270 and this number is likely to reach 4,360 by 2035.

Type Insights

The market, based on types of systems used, is segmented into single-room systems and multiroom systems. In 2016, multiroom systems segment contributed to the largest share of 66.2% of the market by type. Multiroom equipment are more economic as they use one system to deliver treatment to more than two rooms simultaneously. Additionally, decreasing costs of multiroom equipment and investments of large hospitals in establishment of multiroom center can be attributed to large share of this segment.

However, single-room equipment segment is expected to account for the largest share of 62.5% in 2025. Increasing investments by hospitals, rising partnerships between manufacturers & hospitals, and low costs of these equipment are likely to be the key factors that can be attributed to the growth of this segment. Furthermore, these systems are comparatively smaller in size and require less time & space for installation.

Furthermore, technological advancements in single-room equipment is expected to propel their demand during the forecast period. The market has witnessed increasing number of regulatory approvals for single-room systems in the recent years. For instance, in July 2014, Ion Beam Applications SA (Belgium) received FDA approval for ProteusONE, a next-generation compact single-room system. Similarly, in January 2014, Varian Medical Systems, Inc. (U.S.) received FDA approval for ProBeam proton therapy system.

Proton therapy systems market by type, 2016 (%)

Proton therapy systems market

Regional Insights

Asia-Pacific dominated the market in 2016 with a revenue share of around 66.6%. Increasing prevalence of cancers and favorable reimbursement scenario are key factors likely to propel the demand for PT products in the region. Furthermore, growing hospital investments for the establishment of new centers and increasing awareness about advantages of this treatment procedure are expected to contribute to market growth during the forecast period. Other factors that are likely to propel growth are large patient population with cancer, growing number of hospitals & healthcare facilities with improving infrastructure, and low costs of proton therapy. Several foreign investors are interested in investing in emerging markets such as India, China, and Singapore, which have a large population base and high unmet needs.

Furthermore, increasing medical tourism, affordability of treatment, ease of access, government support, and emergence of new medical tourism destinations in Asian countries are expected to contribute to growth in this region. South Korea, Singapore, India, and China are some popular medical tourist destinations in Asia Pacific, which are expected to experience a boom in the coming years.

The developed nations like North America and Europe are expected to experience a sluggish growth in the coming years. Availability of finances to establish new centers and favorable reimbursement scenario are likely to contribute to the growth of these regions. Additionally, middle eastern countries are expected to offer significant opportunities primarily due to increasing spending on development of hospital infrastructure and low cost for proton therapy treatment.

Competitive Insights

Some of the significant players include IBA, Optivus Proton Therapy, Inc., Mevion Medical Systems, Advanced Oncotherapy plc, Varian Medical Systems, ProTom International, Hitachi, Ltd., Mitsubishi Corporation, ProNova Solutions LLC, and Sumitomo Heavy Industries, Ltd. Incessant regulatory approvals of products and partnerships with other players for manufacturing proton therapy systems are key factors likely to result in growth of market share of major players. The players in this market are signing partnership agreements with various other players to incorporate new technologies into their existing systems and to develop new technologically advanced products.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2016

Forecast period

2017 - 2025

Market representation

Revenue in USD Million and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Country scope

U.S., Canada, Germany, UK, China, India, Brazil, Mexico, South Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

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Segments Covered in the Report

This report forecasts revenue growth and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the proton therapy systems market on the basis of product, type and region:

  • Product Outlook (Revenue, USD Million; 2014 - 2025)

    • Equipment

    • Services

  • Type Outlook (Revenue, USD Million; 2014 - 2025)

    • Single-Room Systems

    • Multi-Room Systems

  • Regional Outlook (Revenue, USD Million; 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • UK

    • Asia Pacific

      • Japan

      • China

    • Latin America

      • Brazil

      • Mexico

    • MEA

      • South Africa

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