According to a recent study published by the Market Research Future analysts, the Global Brachytherapy Market is growing at a double-digit 10.9% growth rate. The Global Brachytherapy Market can be segmented by type, device, and application.
The growing prevalence of various types of cancer is likely to be the dominant growth driver for the global brachytherapy market over the forecast period. The growing prevalence of prostate, breast, lung, and colorectal cancers in the developed and developing world is likely to lead a growing demand from the Global Brachytherapy Market over the forecast period.
Rising awareness about cancer treatment is also likely to play a key role in the global brachytherapy market’s growth over the forecast period, as the awareness about cancer is lacking in some parts of emerging regions such as Asia Pacific, Latin America, and Africa. Growing availability and increasing affordability of cancer treatments in these relatively impoverished regions is also likely to be a major growth driver for the global brachytherapy market, as brachytherapy treatment would have been too expensive for most customers in these regions a few decades ago.
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Global Brachytherapy Market – Key Players
Some of the key players in this market are:
- Modus Medical Devices Inc. (Canada)
- Varian Medical Systems, Inc. (US)
- Eckert & Ziegler (Germany)
- R. Bard, Inc (US)
- Argon Medical Devices, Inc. (US)
- Elekta AB (Sweden)
- IsoRay Medical, Inc. (US)
- IsoAid (US)
Brachytherapy Market – Segments
The Global Brachytherapy Market is segmented on the basis of type, device, application, and region.
On the basis of type, the brachytherapy market is segmented into high dose-rate (HDR) brachytherapy, low dose-rate (LDR) brachytherapy, and pulse dose rate (PDR) brachytherapy.
On the bases of device, the market is segmented into brachytherapy after loaders and applicators.
On the basis of application, the brachytherapy market is segmented into prostate cancer, cervical cancer, breast cancer, skin cancer, and other cancers, including esophageal cancer, gynecologic cancers, anal/rectal tumors, and head and neck cancers.
Global Brachytherapy Market – Regional Analysis
The Global Brachytherapy Market is segmented into the Americas, Europe, the Middle East and Africa, and Asia Pacific.
The Americas segment accounts for more than 55% of the global brachytherapy market and is likely to remain the leading contender in the market in the coming years due to the increasing funding for cancer research in this region and the growing prevalence of several types of cancer. North America is the leading regional market within the Americas, with the U.S. being home to not just a growing population of cancer patients, but also to many of the major companies operating in the global brachytherapy market, thus enabling easy incorporation of technological upgradations into the workflow of the healthcare sector. Supportive government regulations for cancer research and increased adoption of advances in said research into clinical usage have also been vital for the brachytherapy market in North America.
Europe is also a leading regional market in the global brachytherapy market, accounting for around 20% of the market in 2016.
Industry News:
Sunnybrook’s Cancer Ablation Therapy Program is known for precision therapies without invasive surgeries. The institute introduced MRI-brachytherapy, first-of-its-kind, that reduces discomfort and trauma from the treatment.
A report published in Elsevier reveals that 3D-printed templates can be used in target volume localization for multicatheter interstitial brachytherapy in patients with breast cancer. This can significantly reduce the technical complexity associated with the multicatheter interstitial brachytherapy.
In January 2019, Hollings Cancer Center in the Medical University of South Carolina performed the world’s first prostate cancer surgery using IsoRay’s Blu Build brachytherapy delivery system.
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