Rising incidence of cancer is one of the most significant factors influencing the market growth. Market Size – USD 396.4 Million in 2019, Market Growth – CAGR of 4.1%, Market Trends –Growing demand for a minimally invasive procedure.
The global brachytherapy market size was valued at USD 396.4 Million in 2019 and is forecasted to reach USD 548.8 Million by 2027 at a CAGR of 4.1%. The brachytherapy market is experiencing an increased demand attributed to its growing application in cancer treatment such as prostate cancer, gynecological cancer, breast cancer, and skin cancer. Factors such as rising cancer incidence, growing demand for minimally invasive procedures, and growing awareness about the disease in emerging economies drive the market growth.
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Segments Covered in the report
Type Outlook (Revenue, USD Billion; 2017-2027)
High Dose Rate (HDR) Brachytherapy
Low Dose Rate (LDR) Brachytherapy
Others
Application Outlook (Revenue, USD Billion; 2017-2027)
Prostate Cancer
Gynecological Cancer
Breast Cancer
Skin Cancer
Others
End Users Outlook (Revenue, USD Billion; 2017-2027)
Hospitals
Specialty Clinics
Others
Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
Europe
Asia Pacific
Latin America
MEA
Key Highlights From The Report
In April, 2020, Elekta announced the introduction of a universal gynecological brachytherapy applicator, Geneva, which was designed deploying the outside-in methodology of Elekta, which caters to the growing needs of front-line cancer therapists.
Low-dose rate (LDR) brachytherapy is likely to grow at the fastest rate of x% in the forecast period. The radioactive sources, in LDR, are placed inside or directly beside the tumor and may be left in the target location permanently. Prostate cancer is the most commonly treated condition using Low dose rate brachytherapy.
Breast cancer is the most commonly occurring cancer type in women, with more than 2 million new breast cancer cases in 2018. The global breast cancer survival rates vary greatly, ranging from around 80% in North America, Japan, and Sweden to nearby 60% in middle-income nations and lower than 40% in low-income nations.
Specialty clinics are equipped with the requisite radiotherapy instrument & devices and specialist staff to assist in diagnosing cancer and adopting a suitable procedure for disease treatment.
The brachytherapy market in the Asia Pacific region is likely to grow at the fastest rate of 5.6% in the forecast period due to the growing incidence and occurrence of cancer, the increasing prevalence of health insurance, and improving reimbursement policies.
Key participants include Elekta AB, CR Bard Inc., Varian Medical Systems Inc., Eckert & Ziegler BEBIG SA, CIVCO Medical Solutions, iCAD Inc., Isoray Medical Inc., Sun Nuclear Corporation, Theragenics Corporation, and Huiheng Medical Inc., among others.
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