Brachytherapy Market Growth, Strategic Analysis, Future Scenarios and Forecast by 2031 | Elekta, Varian Medical Systems, Inc., Theragenics Corporation

Market Overview:

Brachytherapy, also known as internal radiation therapy, involves placing radioactive material directly inside the body near cancerous tumor. Brachytherapy is minimally invasive and delivers a higher dose of radiation directly to the tumor area with lower exposure to nearby healthy tissues.

Market Dynamics:

The brachytherapy market is expected to witness significant growth over the forecast period owing to rising prevalence of cancer worldwide. According to World Health Organization (WHO), cancer burden has risen to 19.3 million cases and 10 million cancer deaths in 2020. Growing cancer incidence rate is propelling demand for effective radiation therapy such as brachytherapy. Furthermore, advantages of brachytheapy over external beam radiation therapy including targeted radiation dose delivery, shorter treatment duration and reduced pain is leading increased preference among cancer patients. Product approvals is another factor fueling market growth. In 2023, Microsot obtained FDA approval for its Visicoil devices for brachytherapy in cervical cancer treatment.

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Major Market Drivers for the Brachytherapy Market

The rising prevalence of cancer is a major factor driving the growth of the brachytherapy market. Cancer is one of the leading causes of death worldwide. According to the World Health Organization (WHO), cancer is responsible for around 10 million deaths each year globally. The incidence of different types of cancer such as breast cancer, prostate cancer, lung cancer, and cervical cancer has been rising significantly over the past few decades. The increasing cancer patient pool is resulting in rising demand for effective cancer treatment options including brachytherapy.

Major Market Restrain for the Brachytherapy Market

The high equipment and procedural costs involved in brachytherapy poses a major challenge to its widespread adoption. Brachytherapy requires sophisticated planning and delivery devices as well as specialized facilities and skilled medical professionals for treatment delivery. This makes brachytherapy a costly treatment option especially for developing regions with budget constraints in healthcare. The high capital expenditure on brachytherapy devices also poses affordability issues for smaller healthcare facilities. Additionally, brachytherapy procedures require longer treatment time compared to other radiotherapy options increasing the overall treatment cost for patients. The high costs associated with brachytherapy limit its use especially in low and middle-income countries.

Major Market Opportunity for the Brachytherapy Market

Emerging economies in regions such as Asia Pacific, Latin America, and Africa currently present sizable market opportunities for brachytherapy device manufacturers. The rapidly developing healthcare infrastructure, increasing healthcare spending capacity, and rising cancer incidence in these countries is contributing to the growth potential. However, brachytherapy penetration is currently very low in most emerging countries due to various affordability challenges. Technology advancements resulting in compact and less expensive brachytherapy products could help address these challenges and enable greater access to brachytherapy in price-sensitive emerging markets. This presents attractive market opportunities for companies to tap into high growth regions.

Major Market Trend for the Brachytherapy Market

Medical advancements are supporting new product developments for more targeted and precise treatment delivery. One such notable trend is the growing adoption of magnetic resonance imaging (MRI)-guided brachytherapy. MRI offers better soft-tissue visualization compared to conventional imaging modalities used in brachytherapy like CT and ultrasound. MRI-guided brachytherapy allows real-time soft-tissue monitoring during treatment, helping address issues with tumor location changes. It also enables better dose optimization and treatment adaptation. Leading brachytherapy product manufacturers are focusing on innovations in MRI-compatible applicators and afterloaders. The ability of MRI-guided brachytherapy to offer superior treatment precision and accuracy is increasing its demand especially for advanced cancer cases. This trend is likely to continue in the coming years.

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Top Companies Covered In This Report:

◘ Elekta
◘ Varian Medical Systems Inc.
◘ Theragenics Corporation
◘ Sun Nuclear Corporation
◘ Argon Medical Devices
◘ Eckert & Ziegler BEBIG
◘ IsoRay Medical
◘ Cianna Medical
◘ iCAD Inc.
◘ CIVCO Medical Solutions

Market Segmentation:

On the basis of dose type, the global brachytherapy market is segmented into:

High Dose Rate Brachytherapy
Low Dose Rate Brachytherapy

On the basis of application, the global brachytherapy market is segmented into:

Prostate Cancer
Breast Cancer
Gynecological Cancer
Others

Geographic Covered in the Report:

‣ North America (USA and Canada)
‣ Europe (UK, Germany, France and the rest of Europe)
‣ Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
‣ Latin America (Brazil, Mexico, and the rest of Latin America)
‣ Middle East and Africa (GCC and rest of the Middle East and Africa)

Reason to Buy this Report:

■ Study of the impact of technological developments on the market and the emerging trends shaping the industry in the coming years.
■ Analysis of the regulatory and policy changes affecting the market and the effects of these changes for market participants.
■ Summary of the competitive landscape in the Brachytherapy market, including profiles of the key players, their market share, and strategies for growth.
■Identification of the major challenges facing the market, such as supply chain disruptions, environmental concerns, and changing consumer preferences, and analysis of how these challenges will affect market growth.
■Assessment of the potential of new products and applications in the market, and analysis of the investment opportunities for market participants.

Questions Answered by the Report:

(1) Which are the dominant players of the Brachytherapy Market?
(2) What will be the size of the Brachytherapy Market in the coming years?
(3) Which segment will lead the Brachytherapy Market?
(4) How will the market development trends change in the next five years?
(5) What is the nature of the competitive landscape of the Brachytherapy Market?
(6) What are the go-to strategies adopted in the Brachytherapy Market?

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Table of Contents

Chapter 1 Market Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Market Size Analysis from 2023 to 2030

Chapter 2 Competition by Types, Applications, and Top Regions and Countries
2.1 Market (Volume and Value) by Type
2.3 Market (Volume and Value) by Regions

Chapter 3 Production Market Analysis
3.1 Worldwide Production Market Analysis
3.2 Regional Production Market Analysis

Chapter 4 Brachytherapy Sales, Consumption, Export, Import by Regions (2023-2023)
Chapter 5 North America Market Analysis
Chapter 6 Europe Market Analysis
Chapter 7 Middle East and Africa Market Analysis
Chapter 8 Asia Pacific Market Analysis
Chapter 9 Latin America Market Analysis
Chapter 10 Company Profiles and Key Figures in Brachytherapy Business
Chapter 11 Market Forecast (2023-2030)
Chapter 12 Conclusions

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