Varian Medical Systems, Inc.(US) and IBA Worldwide (EU) are Leading Players in the Particle Therapy Market
The global particle therapy market is projected to reach USD 1.1 billion by 2028 from USD 0.7 billion in 2023, growing at a CAGR of 8.2% during the forecast period. Growth in the particle therapy market is mainly due to an increase in cancers, rising technological advancements and increasing particle therapy centers worldwide. The demand for the particle therapy market is growing due to more money being allocated to cancer research and development and increased public awareness of invasive procedures.
The particle therapy market is less competitive, with few established players and new entrants vying for market share. The competition in the particle therapy market is driven by technological advancements, product innovation, pricing strategies, distribution networks, and regulatory compliance. Here are some of the key players in the Particle therapy market are Varian Medical Systems, Inc.(US), IBA Worldwide (EU) and Hitachi (Japan), which are some of the prominent companies in the particle therapy market.
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Varian Medical Systems, Inc.(US) : To treat cancer with proton therapy and radiosurgery, Varian Medical Systems, Inc. and Siemens Healthcare have partnered to provide cutting-edge diagnostic and therapeutic solutions and services. Varian's ProBeam 3600 is a fully integrated and very efficient system for cancer treatment.
IBA Worldwide ( EU): IBA Worldwide is a medical technology company operating in the particle therapy market. It is involved in four business activities, namely, Proton Therapy, Dosimetry, RadioPharma Solutions, and IBA Industrial Solutions. Based on operations, the IBA Industrial Solutions segment has divided its business into three subsegments, namely, Proton Therapy, Other Accelerators, and Dosimetry. The Proton Therapy subsegment includes proton therapy products such as Proteus PLUS (a treatment room solution) and Proteus ONE (a single-room cancer treatment solution). The Other Accelerators subsegment includes IBA Industrial Solutions and IBA RadioPharma Solutions (including Cyclone KIUBE, Cyclone 30, and Cyclone 70, which are radiotherapy accelerators to produce radioisotopes for cancer detection in neurology and cardiology). The proton therapy subsegment includes solutions and services for particle therapy.
Hitachi (Japan): Hitachi Ltd. manufactures, designs, and sells radiation therapy and accelerator systems. Hitachi operates in nine business segments, namely, IT, Energy, Industry, Mobility, Smart Life, Hitachi Hi-Tech, Hitachi Construction Machinery, Hitachi Metals, Hitachi Chemicals, and Others (Logistics and Other Services). It offers particle therapy systems under the Smart Life subsegment. The industry segment offers particle beam treatment, diagnostic ultrasound, MRI, CT, X-ray, and clinical laboratory systems.
Related Reports:
Particle Therapy Market by Type (Proton Therapy, Heavy Ion), Products (Cyclotron, Synchrotron, Synchrocyclotron), Services, System (Single-room, Multi-room), Cancer Type (Pediatric, Prostate), Application (Treatment, Research) - Global Forecast to 2028
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