Brachytherapy Market Size Worth USD 548.8 Million by 2027 | Emergen Research
The global brachytherapy market is projected to be worth USD 548.8 Million by 2027, according to a current analysis by Emergen Research. The market is expected to witness significant growth over the forecast period on account of the rising prevalence of cancer and associated mortality rates. The growing availability of Medicare & Medicaid facilities, government initiatives for the development of cancer treatment infrastructure, and the increasing adoption of image-guided therapies are some of the other major driving factors for the market
Brachytherapy is a cancer treatment that involves the placement of radioactive material directly into or near a tumor. This type of therapy is commonly used to treat cancers of the brain, breast, cervix, endometrium, esophagus, head and neck, lung, prostate, skin, and ovary. Brachytherapy can be performed using either internal or external radiation sources.
According to the statistics published by the National Cancer Institute, the global incident cases of cancer in 2018 were 18.1 million and the number of deaths was 9.6 million. Increasing incidence of cancer is one of the major factors driving growth of the global brachytherapy market. According to the National Center for Health Statistics (NCHS), as of 2016, around 1,685,210 new cancer cases and 595,690 cancer deaths occurred in the U.S. In 2015-2016, the five-year relative survival rate for all cancers combined was 69%.
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Rising number of partnerships and agreements between market players are expected to support growth of the global brachytherapy market during the forecast period. For instance, in August 2018, CivaTech Oncology, Inc. and Advanced Radiation Therapy (ART) announced partnership to jointly develop and commercialize a new application of CivaTech's CivaSheet brachytherapy device for treatment of anal cancer.
Technological advancements such as intensity modulated brachytherapy (IMBT) and image-guided brachytherapy (IGBT) are driving the growth of the brachytherapy market. Also, the rising prevalence of cancer is projected to propel the demand for brachytherapy products during the forecast period. However, the stringent government regulations and reimbursement policies are expected to restraint the market growth over the forecast period.
Some Key Highlights from the Report
- In April, 2020, Elekta announced the launch of Edge Radiation Therapy System in Europe. This system has been developed for cancer patients that require high doses of radiation therapy. Elekta is a company based in Stockholm, Sweden that manufactures cancer treatment solutions.
- Additionally, in May 2020, Varian Medical Systems entered into an agreement with Nantes University Hospital for the installation of ProBeam Compact proton therapy system in Nantes, France. Varian Medical Systems is a company based in Palo Alto, California that manufactures medical devices and software for treating cancer and other medical conditions.
- Brachytherapy is a cancer treatment in which radioactive materials are placed close to or directly into the tumor site. The radiotherapy can be of two types, low-dose rate (LDR) and high-dose rate (HDR). In LDR brachytherapy, the radioactive sources are left inside the patient for a longer period to deliver a low dose of radiation over time. The radioactive sources used in LDR brachytherapy can be in the form of seeds, wires, or ribbons. Low-dose rate (LDR) brachytherapy segment is expected to grow at the highest CAGR during the forecast period due to the increasing number of cancer patients and the rising preference for minimally invasive procedures.
- Breast cancer segment is expected to grow at a very high CAGR during the forecast period due to the increase in breast cancer awareness programs, screening camps and also due to the rise in incidence of breast cancer.
- The North America brachytherapy market is expected to hold the largest share in the global market over the forecast period on account of the presence of a large number of key players in the region, increasing prevalence of cancer, and availability of advanced healthcare facilities.
- The market in Asia Pacific is expected to witness significant growth over the forecast period on account of the government initiatives for the development of cancer treatment infrastructure and the increasing adoption of image-guided therapies.
- Key participants include Elekta AB, CR Bard Inc., Varian Medical Systems Inc., Eckert & Ziegler BEBIG SA, CIVCO Medical Solutions, iCAD Inc., Isoray Medical Inc., Sun Nuclear Corporation, Theragenics Corporation, and Huiheng Medical Inc., among others.
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Emergen Research has segmented the global brachytherapy market on the basis of type, application, end-users, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- High Dose Rate (HDR) Brachytherapy
- Low Dose Rate (LDR) Brachytherapy
Application Outlook (Revenue, USD Billion; 2017-2027)
- Prostate Cancer
- Gynecological Cancer
- Breast Cancer
- Skin Cancer
End Users Outlook (Revenue, USD Billion; 2017-2027)
- Specialty Clinics
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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