Latest Research Report on Brachytherapy Market begins with a deep introduction and then delves broad into specific segments such as raw material, application, end user, and region, policy study, value chain structure, and upcoming trends in particular segments or regions. The report on Brachytherapy prepares a case for investments in different regions based on a practical view of their regulatory outline, manufacturing dynamics, and availability of skills and resources in that region.
Global Brachytherapy Market
is expected to reach USD 486.9 million by 2025. Brachytherapy is also termed as
internal radiation therapy is a radiation therapy used to treat cancer by
placing radioactive material inside the patient body on a temporary or
permanent basis. The therapy helps to destroy cancer cells DNA and their
ability to split and grow. It uses ionizing radiation to shrink tumors and to
kill cancer cells throughout the body of patient. It is used to treat cancers
like breast cancer and prostate cancer.
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Permanent brachytherapy
includes placing of radioactive pellets or seeds near or inside the tumor
permanently. On the other hand, temporary brachytherapy includes placing of
slender tube or catheter for a specific period and then is removed and can be
administered at a high dose rate (HDR) or low dose rate (LDR). The
brachytherapy industry is estimated to grow at a significant CAGR of 4.06% over
the future period as the scope and its applications are rising enormously
across the globe.
Rising government initiative
to provide favorable reimbursement and funding policy in rural areas and
growing supportive systems like private healthcare reimbursement systems and
National Health Insurance (NHI) programs in developing countries are documented
as major factors of brachytherapy market that are estimated to enhance the
growth in the years to come. Also, changing lifestyle and dietary habits and
growing number of patients are another factors that may top the overall market
in coming years. However, high cost of therapy and its side effects may
restrain overall market growth in coming years. Brachytherapy industry is
segmented based on type, application, and region.
Low Dose Rate (LDR)
Brachytherapy and High Dose Rate (HDR) Brachytherapy are the types that could
be explored in brachytherapy market in the forecast period. The market may be
categorized based on applications like breast cancer, prostate cancer,
gynecological cancer, and others that could be explored in coming years. Breast
cancer sector accounted for the largest market share of Brachytherapy and is
estimated to lead the overall market in the coming years. This may be because
of rising number of women’s having breast cancer. The American Cancer Society
in 2017 estimated that there would be around 252,710 new breast cancer patients
in the United States alone. Also, prostate cancer sector is estimated to grow
at fastest pace in the coming years.
Globally, North America
accounted for the largest market share of Brachytherapy and is estimated to
lead the overall market in the coming years. The reason behind the overall
market growth could be presence of key manufacturers in the region, developed
research and development sectors and healthcare infrastructure, and rising use
of enhanced technology. The United States is a major consumer of brachytherapy
industry in this region.
The key players of
brachytherapy market are Varian Medical Systems, Inc., Eckert & Ziegler
BEBIG, iCAD, Inc., IsoRay Medical, Inc., Sun Nuclear Corporation, Elekta AB,
Huiheng Medical, Inc., Theragenics Corporation, CIVCO Medical Solutions, and
C.R. Bard, Inc. These players are concentrating on inorganic growth to sustain
themselves amongst fierce competition. As companies all over the world have to
believe that alliance with a market would permit them proportional market
existence and authority to declare the leadership position.
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