Brachytherapy is a type of radiotherapy that is used during cancer treatment. It involves a radiation procedure to kill tumors and cancer cells, especially in prostate, breast, and skin cancer.
The global brachytherapy devices market is expected to expand at a notable 8% CAGR throughout the assessment period of 2020-2030. The market is valued at US$ 900 million as of 2019.
Rising prevalence of cancer cases, increase in population, and growing demand for brachytherapy devices are key factors that will propel the expansion of the brachytherapy devices market size over the forecast period. However, worldwide impact of the COVID-19 pandemic has affected the global brachytherapy devices market in a slightly negative way.
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Key Takeaways from Brachytherapy Devices Market Survey
- North America is expected to dominate the brachytherapy devices market, accounting for over 2/5th of market share in 2021.
- With increasing government support and rising demand for radiotherapy machines, India and China are expected to register the fastest growth during the forecast period.
- The U.K. and Germany, collectively, will exhibit strong growth on the back of growing awareness and increasing prevalence of cancer cases.
- By product type, applicators segment is expected to expand at a CAGR of 8.4% over the forecast period.
- Based on end-user, hospitals segment accounts for over 60% share in the global brachytherapy devices market.
“Amid rising cancer cases worldwide, key players are leveraging various strategies such as product expansion and mergers to increase their sales. Furthermore, rising government initiatives to reduce the global cancer burden is favoring the growth in the market,” says a Fact.MR analyst
Key Drivers
- Advanced product launches and approvals will continue to support the growth of brachytherapy devices market in the future.
- Growing awareness among people coupled with increasing spending by government to reduce the global burden of cancer is creating lucrative growth opportunities for the market
- Increasing preference for minimally invasive procedures will propel the demand for brachytherapy devices.
Key Restraints
- Lack of skilled radiotherapy professionals is restraining the growth in the market.
Key Players :
- Boston Scientific Corporation
- C.R. Bard Inc.
- CIVCO Medical Instruments Co. Inc.
- Cook Medical
- BEBIG
- Eckert & Ziegler
- Elekta AB
- Theragenics Corporation
- Varian Medical Systems Inc.
- iCAD Inc
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Key Segmentation :
Fact.MR has studied the brachytherapy devices market with detailed segmentation on the basis of by type, indication, dose rate, end user, and key regions.
- By Type :
- Brachytherapy Afterloaders
- Brachytherapy Applicators
- Intracavitary Applicators
- Interstitial Applicators
- Others
- By Indication :
- Prostate Cancer
- Breast Cancer
- Cervical Cancer
- Skin Cancer
- Others
- By Dose Rate :
- High Dose Rate (HDR) Brachytherapy
- Low Dose Rate (LDR) Brachytherapy
- Pulse Dose Rate (PDR) Brachytherapy
- Others
- By End User :
- Hospitals
- Cancer Treatment Centers
- Others
For More Insights of Fact.MR: https://www.biospace.com/article/brachytherapy-devices-market-to-rise-at-8-percent-cagr-amid-rising-cancer-cases-worldwide/