A new market research report by Transparency Market Research is titled “Proton Therapy Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013–2019.” The report studies the market from various angles to present a comprehensive picture. It details key product segments and the technological growth trajectory to understand the industry’s growth prospects.
It gauges the current competitive landscape by leveraging Porter’s Five Forces analysis, which is a study of supplier power, buyer power, competitive rivalry, threat of substitution, and threat of new entry. The report also leverages SWOT analysis, which studies the strengths and weaknesses of key players to uncover opportunities and threats awaiting them. The report presents a detailed value chain analysis and also uses distinctive graphics to highlight key facts about the market.
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Proton therapy, also known as proton beam therapy, uses positively charged particles called protons in place of x-rays to treat cancer. One key advantage of proton therapy over x-rays is that it targets the tumor without affecting or damaging adjoining healthy tissues. Hence, it minimizes side effects resulting from damage done to other organs and tissues by x-rays, while targeting the affected area. Proton therapy is a non-invasive and painless procedure, which does not hamper the normal life of a patient. It is highly effective for wide array of localized tumors in prostate, bladder, head and neck area, lung, gastro malignancies, spinal cord, ocular tumors, etc.
As awareness about the benefits of proton therapy grows in the medical fraternity as well as among the general public, the market will grow accordingly. The number of proton therapy centers is already increasing gradually. On account of the newness of the treatment, its growth has not been explosive so far. Only a fraction of eligible patients have been treated using the method till date. Besides, it is an expensive therapy, which only people in the high-income group can afford.
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Geography-wise, the market for proton therapy can be divided into Europe, North America, Asia Pacific, and the Rest of the World. Among them, Europe and North America, which have the most advanced healthcare facilities, are the largest markets as they are home to maximum number of proton therapy treatment centers. In fact, the first facility that used proton therapy in 1990 – the Proton Treatment Center at Loma Linda University Medical Center – is based in California, U.S. The Asia Pacific market is expected to receive a push because of new centers being established in Australia, which is likely to eventually generate awareness about the procedure.
There are just a handful of companies involved in developing and manufacturing cyclotrons, synchrotrons and other equipment required by proton therapy centers. Some of them are Hitachi, Ion Beam Applications, Varian Medical Systems, S.A., and Fermilab Scientists.