The rise in the prevalence of cancer, adoption of technological advanced treatments, ongoing new product launch, and strategic collaboration, better healthcare facilities are key factors contributing to the high CAGR of the Brachytherapy market during the forecast period.
Market Size – USD 368.8 Million in 2018, Market Growth – CAGR of 4.7% Market Trends– Rise in research and development of efficient products
According to the current analysis of Reports and Data, the global Brachytherapy Market valued at USD 368.8 million in 2018 and is expected to reach USD 531.4 billion by the year 2026, at a CAGR of 4.7%. It is a treatment used for the treatment of malignancy; it is done by placing radioactive material inside the body; it is also called internal radiation. The therapy allows doctors to deliver high doses of radiation to specific parts of the body rather than using conventional forms of radiation therapy where radiation is given outside the body. This process targets the tumor and reduces radiation to the nearby healthy tissue.
According to the reports of WHO, the global cancer burden had estimated to be about 18.1 million new cases and 9.6 million deaths by 2018. According to an estimation around 17 million registered breast cancer in 2017, wherein 10 million had prostate cancer in 2017 across the globe. Due to the rise in technological advancements, R&D investments are likely to propel the growth of the market; also, the increase in healthcare awareness are factors improving market growth. However, side effects obtained by the therapy, and availability of other alternative substitute therapies are the primary restraint to the market. North America had held significant market value in the year 2018, owing to the rise in the prevalence of malignancy, and an increase in the healthcare expenditure, and also government funding for better treatment of tumors.
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Further key findings from the report suggest
- In 2018 the Journal of the American Medical for the treatment of prostate cancer registered the efficient usage of brachytherapy in combination with EBRT (external beam radiotherapy)
- Recent advances have been done for the treatment of head, and neck soft tissue sarcoma (HNSTS) here the use of Radioactive I Seed (RIS) implantation brachytherapy is done. It is a type of low-dose-rate brachytherapy, characterized by delivering high radiation dose to tumor target while safely sparing the adjacent normal tissue, for improving the effectiveness HNSTS is combined with EBRT i.t is also useful in prostate cancer, lung cancer, pancreatic cancer, rectal cancer, cervical cancer, head, and neck cancer, and for rectal cancer, this treatment also has been given a referenced by NCCN Guidelines of Rectal Cancer in 2015 for rectal carcinoma.
- Currently, clinical trials are being performed using interstitial brachytherapy for boosting the treatment of anal cancer in the year 2018 it was performed using Low Dose rate brachytherapy and also by high dose rate Brachytherapy.
- High Dose rate brachytherapy was found to have the highest market share in the year 2018 based on segment of type as it more powerful form of internally delivered radiation therapy that destroys many types of the tumor; also it provides precise radiation therapy used alone or applied after surgery to help prevent recurrence of the tumor.
- The AccuBoost Technique is non-invasive breast brachytherapy that reduces the chances of tumors in stage I and II breast cancer. It also helps in preventing the relapse as it kills the tumor bed. AccuBoost technique has driven the market and is likely to boost the market in India, as the survival rate for breast tumors continues to remain high.
- By Application, segment prostate cancer registered a highest market share of about 40.6% in the year 2018. It is expected to reach a CAGR of 5.2%, which was the largest on account of the market.
Key companies operating in the market include:
Eckert & Ziegler BEBIG, IsoRay Medical, Inc., Carl Zeiss Meditec AG, Argon Medical Devices Inc., Panacea Medical Technologies, Elekta AB, Boston Scientific Corporation, CR Bard Inc., GE Healthcare, and Varian Medical Systems, Inc
The report covers an extensive analysis of the key market players in the market along with their business overview, expansion plans, and strategies. The report also focuses on recent strategic alliances in the market including mergers and acquisitions, joint ventures, partnerships, agreements, corporate and government deals, product launches, and brand promotions, among others.
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The report aims to provide a better understanding of the market dynamics and the workings of the industry on a global level. To gain a deeper understanding of the industry, the global Brachytherapy market is further segmented on the basis of key geographical regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The report also offers a country-wise analysis to provide crucial insights into market size, market growth, market revenue growth, and economic growth in each region.
On basis of product types and application offered by the Brachytherapy industry, the market is segmented into:
- High Dose Rate (HDR) Brachytherapy
- Low Dose Rate (LDR) Brachytherapy
- Brachytherapy After Loader
- Brachytherapy Applicators
- Intraluminal Applicators
- Interstitial Applicators
- Intraoperative and Surface Applicators
- Brachytherapy Software
- Cervical cancer
- Prostate Cancer
- Gynecological Cancer
- Breast Cancer
- Other Cancers
End Use Outlook
- Oncology Treatment Centers
The regional analysis covers:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Benefits of Brachytherapy Market Report:
- Panoramic overview of the opportunities and risks in the Brachytherapy sector
- Study of recent innovations and developments in the industry
- Comprehensive study of the growth pattern of the Brachytherapy industry
- In-depth assessment of the competitive landscape of the key players of the Brachytherapy industry
- Analysis of the Brachytherapy market drivers, constraints, and opportunities
- Assessment of technological developments and latest trends of the industry
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