Expected Revenue Growth :
The global particle therapy market is projected to reach USD 1,349 million by 2023 from USD 865 million in 2018, at a CAGR of 9.3%.
What This Report Will Provide?
The study involved four major activities to estimate the current market size for particle therapy. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter market breakdown and data triangulation was used to estimate the market size of segments and subsegments.
Major Growth Boosters :
Growth in the particle therapy market is primarily driven by factors such as the various advantages offered by particle therapy over photon therapy, growing global prevalence of cancer, increasing adoption of particle therapy in clinical trials, and the increasing number of particle therapy centers worldwide.
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Recent Developments :
- In May 2020, BioIVT (US) introduced high-purity Kupffer cells to its portfolio of human primary hepatic cells to support liver disease drug discovery and development.
- In January 2020, Charles River Laboratories acquired HemaCare Corporation. This acquisition will aid in expanding Charles River’s scientific capabilities in the high-growth cell therapy sector.
- In September 2018, Sekisui XenoTech, LLC. (US) added monkey and rodent hepatocytes to its patented CryostaX product line.
Key questions addressed by the report :
- What are the growth opportunities related to the adoption of heavy ion therapy across major regions in the future?
- Emerging countries have immense opportunities for the growth and adoption of particle therapy. Will this scenario continue in the next five years?
- Where will all the advancements in products offered by various companies take the industry in the mid- to long-term?
- What are the various cancer types wherein particle therapy finds a high adoption rate?
- What are the new trends and advancements in the particle therapy market?
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By product, the synchrotron segment is expected to grow at the highest rate during the forecast period
Synchrotrons are used to accelerate both protons and heavy ions such as carbon and hydrogen. The growth of the synchrotrons segment is attributed to factors such as the increasing number of research activities as well as the increasing investments in the development of synchrotron facilities.
Regional Growth Analysis:
The Asia Pacific is one of the major revenue generating regions in the particle therapy market. China and Japan are the major countries responsible for the high growth of this regional market owing to factors such as the increasing per capita income, improving healthcare infrastructure, and supportive government activities in these emerging countries. Furthermore, the increasing geriatric population, growing incidence of cancer, and rising acceptance of particle therapy procedures and devices are also driving the growth of this regional market.