The global hadron therapy market is expected to be valued at USD 1.5 billion in 2023 and reach USD 4.7 billion by 2033. From 2023 to 2033, the market is estimated at a CAGR of 11.9%, which was 8% from 2018 to 2022.
The increasing number of cancer cases globally is projected to be the critical cause driving the global market during the forecast period.
As per WHO, cancer is the leading cause of death worldwide, accounting for about 10 million deaths in 2020. And, according to International Agency for Research on Cancer (IARC), by 2040, the global burden of cancers is anticipated to grow to 27.5 million new cancer cases with 16.3 million deaths across the globe.
Proton therapy is anticipated to grow globally owing to the rising awareness of its benefits and technological development in the treatment. The introduction of proton therapy in developing countries is expected to provide a lucrative opportunity to the market during the forecast period.
The McLaren Proton Therapy Center is set to become the first in the world to offer proton therapy to patients with Leo Cancer Care’s ground-breaking upright treatment technology.
As per the agreement, Leo Cancer Care is estimated to install two vertical units at the McLaren Proton Therapy Center in Flint, Michigan, with the first patients set to receive care through the innovative treatment delivery system with the FDA’s clearance for the technology.
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The increasing number of healthcare facilities offering proton therapy is anticipated to assist the market expansion during the forecast period. Benefits provided by the medicine, such as non-invasive treatment, painless procedures, more energy focused on tumors, and less radiation affecting healthy tissue, are likely to drive the market growth during the forecast period.
As per National Cancer Institute (NCI), after 3 years, 46% of patients in the proton therapy group were cancer free, and 56% of people who received proton therapy were still alive after 3 years. In addition, an increasing number of healthcare facilities offering proton therapy is projected to help market growth.
For instance, in February 2020, Illinois Health Facilities and Services Review Board approved the OSF HealthCare plan to construct a cancer care center that offers proton-beam therapy.
Higher costs associated with hadron therapy are anticipated to hinder the global hadron market during the forecast period. The Hadron therapy devices are large, which is another factor that can limit the market growth.
The setup cost excludes the device cost, further enhancing investment. Thus, the industry is projected to suffer during the assessment period. However, increasing R&D on cancer is anticipated to counter the hampering factors and drive market growth during the forecast period.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 11.9% |
| Market Valuation (2023) | USD 1.5 billion |
| Market Valuation (2033) | USD 4.7 billion |
| Countries | Forecast Share Between 2023 to 2033 |
|---|---|
| United States | 37.7% |
| Germany | 8.0% |
| Japan | 2.4% |
| Countries | Forecast CAGR Between 2023 to 2033 |
|---|---|
| Australia | 10.7% |
| China | 14.7% |
| India | 12.0% |
| United Kingdom | 8.4% |
According to the analysis, North America is projected to dominate the global market during the forecast period. As of 2023, the region is likely to secure 42.8% of the worldwide market share. The region's domination can be attributed to the increasing number of cancer cases.
As per the American Cancer Society, in 2023, an estimated 1.9 million new cancer cases would be diagnosed and 609,360 cancer deaths in the United States. Increasing initiatives by healthcare facilities in the region are likely to drive the global market.
For instance, in 2019, The University of Texas MD Anderson Cancer Center unveiled its plan to expand its Proton Therapy Center. The expansion is estimated to exceed the center's size to more than 160,000 square feet. An investment of USD 159 million was announced.
As per the analysis, Europe is anticipated to be the second-larger market. In 2023, the region is likely to secure 38.1% of the total global market share. The presence of high-growth countries such as Germany, the United Kingdom, France, Italy, and Spain is expected to significantly drive the global hadron therapy market during the forecast period.
In May 2020, Hitachi announced that it had provided its advanced proton therapy system to Clinica Universidad de Navarra (Madrid, Spain). Clinica Universidad de Navarra is the first hospital in which Hitachi has delivered the whole proton therapy system in Europe. Due to such factors, the European market is projected to witness expansion during the forecast period.
As per the analysis, Asia-Pacific has been identified as the most lucrative market. It can be attributed to the presence of developing countries like India, China, and Japan.
Increasing awareness about cancer is projected to benefit the market during the forecast period. And, growing initiatives to install proton beam therapy machine in the region is anticipated to help the Asia-Pacific market.
For instance, the proton beam therapy machine, which offers sub-millimeter precision in destroying cancer cells, is estimated to be installed at the Tata Memorial Center's (TMC) ACTREC Kharghar center.
Insightec, ViewRay, RefleXion, Alpha Tau Medical, Novocure, Profound Medical, HistoSonics, IceCure Medical, B dot, Terapet, and Mevion Medical Systems are some of the emerging entities in the global market.
Growing startup funding is expected to benefit the market in the assessment period. For instance, Proton therapy developer Mevion Medical Systems announced that it raised USD 200 million in new equity funding from Chinese investment firms HOPU Investments and YuangMing Capital. Such support to startups is anticipated to benefit the market in the forecast period.
Key players in the global market include Koninklijke Philips N.V., IBA Worldwide, Advanced Oncotherapy, Varian Medical Systems, Inc., Optivus Proton Therapy, Inc., Hitachi, Ltd., Sumitomo Corporation, Mevion Medical Systems, ProNova Solutions, LLC, ProTom International Mitsubishi Electric Corporation, and Elekta.
Significant Industry Developments Include:
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| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | United States, United Kingdom, Japan, India, China, Australia, Germany |
| Key Segments Covered | Region, Type, Application, End User |
| Key Companies Profiled | Koninklijke Philips N.V.; IBA Worldwide; Advanced Oncotherapy; Varian Medical Systems, Inc.; Optivus Proton Therapy, Inc.; Hitachi, Ltd.; Sumitomo Corporation; Mevion Medical Systems; ProNova Solutions, LLC; ProTom International Mitsubishi Electric Corporation; Elekta |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
China, Japan, and South Korea are the central Asian countries in the Hadron Therapy market.
The healthcare business is the primary customer of Hadron Therapy.
Hadron therapy market in the United States is predicted to increase at a CAGR of 37.7%.
The Hadron Therapy market is currently valued at USD 1.5 billion.
The market for Hadron Therapy is expected to reach USD 4.7 billion by 2033.
| Market Value (2022) | USD 1287.27 Million |
|---|---|
| Market Value (2032) | USD 2728.09 Million |
| Market CAGR (2022 to 2032) | 7.8% |
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