Brachytherapy Market Report 2023: Share Will Increase at 5.7% CAGR Globally by 2030 |

According to the report published by Allied Market Research, the global brachytherapy market garnered $0.83 billion in 2021, and is estimated to generate $1.6 billion by 2031, manifesting a CAGR of 7.1% from 2022 to 2031. The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.

Key Takeaways:

• The prostate cancer segment is also estimated to grow at the highest CAGR of 7.5% during the forecast period.
• Asia-Pacific region is expected to manifest the fastest CAGR of 8.5% during the forecast period.
• The seeds segment is expected to continue its leadership status during the forecast period.

Major Factors Driving the Growth of Brachytherapy Market:

• Increasing prevalence of cancer: The prevalence of cancer is increasing worldwide due to a number of factors, including population growth, aging, and lifestyle changes. This is leading to an increased demand for cancer treatments, including brachytherapy.
• Rising demand for minimally invasive procedures: Patients are increasingly demanding minimally invasive procedures for the treatment of cancer. Brachytherapy is a minimally invasive procedure that can be used to treat a wide range of cancers.
• Technological advancements: Technological advancements are leading to the development of new and improved brachytherapy devices. For example, new brachytherapy devices are being developed that are more precise and effective, and that can be used to treat a wider range of cancers.
• Growing awareness of brachytherapy: There is a growing awareness of brachytherapy among patients and healthcare professionals. This is due to factors such as educational campaigns and increasing media coverage.

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Market Drivers:

• Surge in adoption of radiation therapies due to rise in prevalence of cancer
• An increase in the number of hospitals

Impact of Covid-19 on Brachytherapy Market:

• The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global brachytherapy market, owing to implementation of global lockdown which resulted to disruptions in the workflows of the healthcare industry.
• Major market players witnessed a decline in sales of brachytherapy devices, which proves that the market was significantly affected by COVID-19.
• A huge number of medical colleges and hospitals across the globe were reconstructed to increase the hospital capacity for patients diagnosed with COVID-19.

Here are some examples of how brachytherapy is being used today:

• Brachytherapy is being used to treat prostate cancer, breast cancer, cervical cancer, and other cancers.
• Brachytherapy can be used to treat cancer in patients who are not eligible for surgery or radiation therapy.
• Brachytherapy can also be used to treat cancer in patients who have already had surgery or radiation therapy.

Market Segmentation:

Type of device: The brachytherapy market can be segmented based on the type of device used. Some of the major types of brachytherapy devices include:

• • Applicators & afterloaders: Applicators are used to deliver brachytherapy seeds or capsules to the tumor site. Afterloaders are used to deliver brachytherapy sources to the tumor site for a specific period of time.
  • Seeds & capsules: Brachytherapy seeds and capsules are small radioactive pellets that are implanted into the tumor site or placed in or near the tumor.
  • Electronic brachytherapy devices: Electronic brachytherapy devices use X-rays or electrons to deliver brachytherapy treatment to the tumor site.

Technique: The brachytherapy market can also be segmented based on the technique used. Some of the major brachytherapy techniques include:

• • High dose rate (HDR) brachytherapy: HDR brachytherapy delivers a high dose of radiation to the tumor site over a short period of time.
  • Low dose rate (LDR) brachytherapy: LDR brachytherapy delivers a lower dose of radiation to the tumor site over a longer period of time.

Application: The brachytherapy market can also be segmented based on the application. Some of the major applications of brachytherapy include:

• • Prostate cancer: Brachytherapy is a common treatment for prostate cancer.
  • Breast cancer: Brachytherapy can also be used to treat breast cancer.
  • Cervical cancer: Brachytherapy is a common treatment for cervical cancer.
  • Other applications: Brachytherapy can also be used to treat other cancers, such as endometrial cancer, head and neck cancer, and skin cancer.

End-user: The brachytherapy market can also be segmented based on the end-user. Some of the major end-user segments include:

• • Hospitals: Hospitals are the largest users of brachytherapy services.
  • Cancer centers: Cancer centers are also major users of brachytherapy services.
  • Private clinics: Private clinics are also increasingly offering brachytherapy services.

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Regional Growth Dynamics:

North America held the largest share in 2021, contributing to around two-fifths of the global brachytherapy market share, and is projected to maintain its dominant share in terms of revenue in 2031. However, the Asia-Pacific region is expected to manifest the fastest CAGR of 8.5% during the forecast period.

Competitive Landscape:

• Argon Medical Devices, Inc.
• Eckert & Ziegler BEBIG
• Elekta AB, iCAD, Inc.
• Siemens AG, isoray medical
• Merit Medical Systems, Inc.
• Theragenics Corporation
• IsoAid
• Carl Zeiss AG.

Recent developments:

• New brachytherapy devices and techniques: New brachytherapy devices and techniques are being developed to improve the accuracy, precision, and effectiveness of brachytherapy treatment. For example, new brachytherapy devices are being developed that use image guidance to deliver radiation more precisely to the tumor site. New brachytherapy techniques are also being developed that use combinations of brachytherapy with other cancer treatments, such as surgery and radiation therapy, to improve patient outcomes.
• Advances in brachytherapy seeds and capsules: New brachytherapy seeds and capsules are being developed that are more effective and have fewer side effects. For example, new brachytherapy seeds and capsules are being developed that are made from materials that are more compatible with the body and that release radiation more slowly.
• Expansion of brachytherapy into new applications: Brachytherapy is being used to treat a wider range of cancers, including cancers of the head and neck, skin, and liver. For example, brachytherapy is being used to treat early-stage head and neck cancer in patients who are not eligible for surgery or radiation therapy.
• Increased investment in brachytherapy research and development: Public and private investment in brachytherapy research and development is increasing. This is helping to accelerate the development of new brachytherapy devices, techniques, and seeds and capsules.

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Key Questions Answered in the Intelligent Study:

What is the market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the market growth?
What are the key technological and market trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?

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