Proton Therapy Systems Market Will Be Worth USD 2.88 Billion By 2025: Grand View Research, Inc.
The global proton therapy systems market is expected to reach
USD 2.88 billion by 2025, according to a new report by Grand View Research,
Inc. The market is primarily driven by increasing number of proton therapy
centers, rising number of cancer cases, and growing investments by hospitals to
establish these centers.
Growing funds & investments
by hospitals, manufacturers, and private investors are also contributing to the
growth of this market. For instance, in August 2015, Mevion Medical Systems
(U.S.) raised USD 200 million in an equity funding led by HOPU Investments
(China) and YuanMing Capital (China). These funds are likely to be used for
development of technologically advanced and low-cost products. Furthermore,
governments across various geographies are including budgets for establishment
of these centers. For instance, in July 2015, the state government of Victoria
included nearly AUD 2 million (USD 1.53 million) to develop a National Centre
for Proton Beam Therapy at the Victorian Comprehensive Cancer Centre (VCCC).
The new center is expected to offer treatment to the patients in Australia.
In addition, rapid increase in
the number of cancer cases globally is anticipated to bolster market growth
during the forecast period. According to American Cancer Society, an estimated
1,688,780 new cancer cases are expected to be diagnosed in the U.S. and this
disorder is likely to cause nearly 600,920 deaths in 2017. Furthermore,
according to The Lancet, the number of women diagnosed with
breast tumors is estimated to reach 3.2 million by 2030, which is almost double
of 1.7 million in 2015.
Favorable reimbursement policies
in the U.S and European countries and rising cancer-related healthcare
expenditure in emerging nations is likely to propel the global market. In
addition, decreasing cost of proton therapy, increasing awareness, and rising
adoption are expected to boost demand for these systems during the forecast
period. However, high costs involved in the establishment of these centers and
lack of reimbursement in emerging nations is likely to restrain growth in the
coming years.
Proton therapy systems market,
by product, 2014 - 2025 (USD Million)
Browse full research report on
Proton
Therapy Systems Market
Further key findings from
the report suggest:
- The equipment
segment held majority of the revenue share in 2016 due to rise in the
number of contracts for establishment of proton therapy centers
- North America
dominated the global market owing to strong reimbursement framework and
high adoption of this therapy
- Some of the
key players areMevion Medical Systems; IBA, Optivus Proton Therapy, Inc.;
Advanced Oncotherapy plc; Varian Medical Systems, Inc.; Hitachi, Ltd.; and
Mitsubishi Corporation.
- The
single-room systems segment is expected to command the largest share of
the market in 2025.
For
more information: http://www.grandviewresearch.com
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