Brachytherapy Market

SKU: DMPH1233 | Last Updated On: Nov 11 2022 | Available Formats

> Brachytherapy Market Expected to reach a high CAGR of 5.8% By 2029

Brachytherapy Market is segmented By Therapy Type (High Dose Brachytherapy, Low Dose Brachytherapy), By Application Type (Prostate Cancer, Gynecological Cancer, Breast Cancer, Others), By End User (Hospitals, Ambulatory Surgery Centers, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Brachytherapy Market Size and Growth Rate Insights

Brachytherapy Market size was valued at US$ YY million in 2021 and is estimated to reach US$ YY million by 2029, growing at a CAGR of 5.8% during the forecast period (2022-2029). Brachytherapy is a type of local internal radiation therapy. In brachytherapy, the seeds, ribbons, or capsules containing a radiation source are positioned in the body or near the tumor. Brachytherapy specifically treats a particular body part, often used in treating head, neck, breast, cervix, prostate, and eye cancers.

Brachytherapy Market study analysis offers an in-depth outlook on the market containing quantitative and qualitative data. It gives an outlook and forecast of the global market based on market segmentation. It also provides global Brachytherapy Market size, and growth, along with the latest trends, opportunities, and forecast till 2029 for the global market with esteem to major countries such as the United States, Canada, Brazil, Germany, Italy, Spain, United Kingdom, Russia, European countries, United Arab Emirates, Saudi Arabia, South Africa, Japan, China, India, South Korea, Australia, and rest of the countries over the globe.

Among all regions, the North American region is expected to hold the largest share of the global market over the forecast period. The Brachytherapy Market in the United States and Canada produces the utmost share. Whereas the European Brachytherapy Market is projected to continue its presence globally during the period of 2022- 2029.

Brachytherapy Market Report Scope

Metrics

Details

Market CAGR

 5.8%

Segments Covered

 By Type, By Indication Type, By End User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Brachytherapy Market Growth Drivers, and Opportunities

The increasing advancements in brachytherapy, the rising prevalence of cancer cases and increasing awareness about cancer drive the global market growth.

The increasing advancements in brachytherapy are boosting the global brachytherapy market growth during the forecast period.

The increasing advancements in brachytherapy are fueling the global brachytherapy market growth during the forecast period. For instance, the American Brachytherapy Society (ABS), Brachy Summit 2020, held an exhibition for brachytherapy in which different exhibitors exhibited their advanced developments in brachytherapy such as the Boston Scientific has developed SpaceOAR hydrogel, which provides over 1 cm of space between the prostate and rectum to decrease rectal toxicity and minimize changes in quality of life (QOL) following prostate radiotherapy. Furthermore, C4 Imaging LLC developed Sirius™ MRI Marker, an innovative medical device that allows clinicians to personalize patient treatment through proper MRI-guided procedures. Moreover, Concure Oncology developed Breast Microseed Treatment® that allows the precise placement of tiny Palladium seeds to deliver a targeted, tumoricidal dose of radiation to the area at greatest risk for recurrence, sparing healthy tissue. Thus, from the above data, it is anticipated that the developments in brachytherapy will drive the global brachytherapy market growth during the forecast period.

The high cost and long-term side effects of brachytherapy will restrain the global market growth during the forecast period
However, the high cost and the long-term side effects of brachytherapy are restraining the global brachytherapy market growth during the forecast period. For instance, brachytherapy costs typically range between $900 to $8000. Furthermore, according to Cancer Research UK, brachytherapy for prostate cancer often leads to a few long-term side effects like passing urine more often and erectile dysfunction. It is to be held in mind that everyone is different, and the side effects vary from person to person. Thus, these factors will hamper the global brachytherapy market growth during the forecast period.

COVID-19 Impact

During the pandemic, the brachytherapy market was affected greatly since it was difficult to perform the radiation treatment, which led to reductions in overall brachytherapy treatment. While post-COVID, it came to attention that cancer patients are at higher risk of developing more severe cases of COVID-19 with increased mortality. Therefore, it is important to optimize patient and treatment selection so that for patients who will benefit from radiotherapy treatment and present mild symptoms, treatment shall be continued using hypo-fractionated schemes and proper protective measures. Thereby minimizing the impact on the current brachytherapy market.

Brachytherapy Market Segment Analysis

Prostate cancer is anticipated to hold a larger share of the global brachytherapy market throughout the forecast period (2022-2029).

Prostate cancer is expected to dominate the global brachytherapy market throughout the forecast period (2022-2029) because there are growing prostate cancer cases worldwide, and since brachytherapy has a high success rate is a commonly recommended treatment option for prostate cancer. According to the American College of Surgeons (ACS), healthcare professionals may recommend brachytherapy as a stand-alone treatment if you have very low- or low-risk prostate cancer or favorable intermediate-risk prostate cancer. Furthermore, a study found a 17-year prostate cancer-specific survival (PCSS) rate of 97 percent. Furthermore, according to the Global Cancer Observatory, over 1 414 259 were diagnosed with prostate cancer in 2020, and more than 375 304 died because of prostate cancer in 2020. Making it the second most commonly occurring cancer in men and the fourth most common cancer, as per the World Cancer Research Fund International. Therefore, from the mentioned data, it is estimated that prostate cancer will dominate the global brachytherapy market during the forecast period.

Geographical Analysis

North America Brachytherapy Market

The North American region holds the largest global brachytherapy market.

North America is anticipated to dominate the global brachytherapy market during the forecast period (2022-2029) since this region has growing cancer cases. According to the National Cancer Institute, around 1,806,590 Americans were diagnosed with cancer, and over 606,520 died of cancer in 2020. Moreover, according to the American Cancer Society, nearly 1.9 million cancer cases were diagnosed, and 608,570 deaths were registered as cancer-caused deaths in 2021. In addition, the presence of a majority of the key market players, such as ISORAY MEDICAL, INC, THERAGENICS, Becton, Dickinson and Company, CIVCO MEDICAL SOLUTIONS, Mirion Technologies, ICAD, INC and VARIAN MEDICAL SYSTEMS, INC which holds a larger share of the global brachytherapy market ensures the dominance of North America over the global brachytherapy market. Thus, from the data mentioned, it is estimated that North America will dominate the global brachytherapy market throughout the forecast period.

Brachytherapy Market Competitive Landscape

Brachytherapy is a moderately competitive market due to key global and local players. A few key market players are Isoray Medical, Inc, Theragenics, Becton, Dickinson And Company, Eckert & Ziegler, Civco Medical Solutions, Mirion Technologies, Icad, Inc, Huiheng Medical, Elekta AB And Varian Medical Systems, Inc. These key market players contribute to the market’s growth through different market tactics. For instance, in September 2022, Isoray, Inc. acquired Viewpoint Molecular Targeting, Inc. (Viewpoint), a precision oncology company developing alpha-particle therapies and complementary diagnostic imaging agents.

Becton, Dickinson and Company (BD)

Overview:

Becton, Dickinson and Company (BD) are a multinational American medical technology company founded in 1897 and headquartered in New Jersey. Becton, Dickinson and Company (BD) deals with the manufacturing and sales of medical devices, instrument systems, and reagents. BD has more than 65000 associates across 50 countries who collaborate closely with customers and partners to help enhance outcomes, lower healthcare delivery costs, increase efficiencies, improve healthcare safety and expand access to health.

Product Portfolio:

 The product portfolio of Becton, Dickinson and Company (BD) for brachytherapy has Brachytherapy, Needles, BrachyStar™ FastFill™ Implant Needle, which is designed to help you achieve one important goal, an efficient and clinically effective brachytherapy procedure. All needles are engineered for exceptional performance, featuring ultra-sharp tips and polished surfaces for smooth entry and exit.

The global brachytherapy market report would provide access to approximately 40+ market data tables, 45+ figures, and in the range of 200 (approximate) pages.

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