Brachytherapy Devices Market-Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2015 to 2020 and Forecast 2021 to 2027

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Global Brachytherapy Devices Market: By Type (High Dose Rate Brachytherapy and Low Dose Rate Brachytherapy), By Application (Gynaecological Cancer, Prostate Cancer, Skin Cancer, Breast Cancer, Cervical Cancer, and Others), By End User (Hospitals, Diagnostic Centres, Ambulatory Surgical Centres, and Radiotherapy Centres), and Geography

 

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Description

Global brachytherapy devices market was valued at US $ 800 Mn in 2020 and expected to grow at 7.4% Compound Annual Growth Rate (CAGR) over 2021 to 2027. Brachytherapy is a type of radiotherapy that involves a procedure in which a radioactive material is placed inside the body giving a high radiation dose to the tumor while reducing the radiation exposure in the surrounding healthy tissues. Brachytherapy is commonly used as an effective treatment for cervical cancer, breast cancer, prostate cancer etc. Radiation therapy can be used as a preventative, palliative, or curative measure. It can also be used as a stand-alone treatment or in conjunction with other treatments such as surgery, immunotherapy, and chemotherapy. The wide range of applications for radiation has boosted its popularity among doctors. The most recent breakthroughs in radiation therapy allow for a high dose to be delivered to the target location while causing minimal damage to neighbouring healthy tissues. This has raised the possibilities of localised tumour control and improved cure rates, resulting in a surge in radiation therapy demand. However, a scarcity of experienced radiation specialists and technologically advanced goods, particularly in developing countries, is projected to be a major stumbling block for this industry. According to the IAEA’s Directory of Radiotherapy Centres (DIRAC), over 3300 brachytherapy systems will be installed in radiation therapy centres across the world by 2020. LMICs account for over 60% of cancer cases. Because these countries have restricted access to technologically advanced products, 80 percent of patients in these countries are unable to receive therapy. Only 3-4 percent of radiation demands in LMICs are addressed, compared to 60-80 percent in European countries for brachytherapy devices market.

Brachytherapy Devices Market

MARKET SUMMARY
-
7.4% CAGR
  • Study Period– 2021-2027
  • Base Year– 2020
  • CAGR– 7.4%
  • Largest Market– North America
  • Fastest Growing Market– Europe

Brachytherapy Devices Market

  • The report on global Brachytherapy Devices Market gives historical, current, and future market sizes (US$ Mn) on the basis of type, application, end user and geography.
  • Brachytherapy Devices Market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Key Players
  • Varian Medical Systems, Inc. (U.S.)
  • Ion Beam Applications (IBA) (Belgium)
  • Accuray Incorporated (U.S.)
  • Nordion, Inc. (Canada)
  • Elekta AB (Sweden)
Dynamics

Brachytherapy Devices Market

Brachytherapy devices market is driven by increase in incidence and prevalence of cancer and rise in demand for the non-invasive therapies for cancer treatment. According to World Health Organization (WHO), cancer is estimated to be one of the leading cause of deaths worldwide. In 2012, 14 Mn new cancer cases are diagnosed and new cancer cases will rise to 22 Mn within next two decades. In addition, technological advances in radiotherapy such as image guided radiation therapy (IMRT) and increase in adaptation of radiotherapy to treat cancer are expected to bolster the market over the forecast period. Furthermore, developing healthcare infrastructure and favourable government policies are expected to boost the market. However, high cost of equipment, treatment and side effects may restrain the growth of brachytherapy devices market globally during the forecast period.


North-America got significant share

Brachytherapy Devices Market

Geographically, global brachytherapy devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America market expected to grow at notable rates owing to technological advancements, well-established healthcare infrastructure and favourable government policies. In addition growing prevalence of cancer expected to boost the radiotherapy market in this region. According to National Cancer Institute (NIH) estimates in 2016, 1,685,210 new cases of cancer cases were diagnosed in the united states. A number of new cases of cancer is 454.8 per 100,000 men and woman per year. Europe market expected to grow at significant rate owing to increase in cancer incidents and rise in adaptation of radiotherapy in the treatment of cancer. Asia Pacific market expected to grow at higher rate owing to increase in cancer cases, developing healthcare infrastructure and rising disposable income. According to WHO, more than 60% of new cancer cases occur in Asia, Africa and Central and South America.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Key Features of the Report

  • The report provides granular level information about the market size, country market share, historic market (2015-2020) and forecast (2021-2027)
  • The report covers in-detail insights about the competitor’s overview, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market

Brachytherapy Devices Market Segmentation


Location

GEOGRAPHY


Report

Table Of Content


Report

Company Profile

  • Varian Medical Systems, Inc. (U.S.)
  • Ion Beam Applications (IBA) (Belgium)
  • Accuray Incorporated (U.S.)
  • Nordion, Inc. (Canada)
  • Elekta AB (Sweden)
  • Isoray Medical, Inc. (U.S.)
  • R. Bard, Inc. (U.S.)
  • ViewRay, Inc. (U.S.)
  • RaySearch Laboratories (Sweden)
  • Mitsubishi Electric Corporation (Japan)
  • Mevion Medical Systems, Inc. (U.S.)

Description

Global brachytherapy devices market was valued at US $ 800 Mn in 2020 and expected to grow at 7.4% Compound Annual Growth Rate (CAGR) over 2021 to 2027. Brachytherapy is a type of radiotherapy that involves a procedure in which a radioactive material is placed inside the body giving a high radiation dose to the tumor while reducing the radiation exposure in the surrounding healthy tissues. Brachytherapy is commonly used as an effective treatment for cervical cancer, breast cancer, prostate cancer etc. Radiation therapy can be used as a preventative, palliative, or curative measure. It can also be used as a stand-alone treatment or in conjunction with other treatments such as surgery, immunotherapy, and chemotherapy. The wide range of applications for radiation has boosted its popularity among doctors. The most recent breakthroughs in radiation therapy allow for a high dose to be delivered to the target location while causing minimal damage to neighbouring healthy tissues. This has raised the possibilities of localised tumour control and improved cure rates, resulting in a surge in radiation therapy demand. However, a scarcity of experienced radiation specialists and technologically advanced goods, particularly in developing countries, is projected to be a major stumbling block for this industry. According to the IAEA’s Directory of Radiotherapy Centres (DIRAC), over 3300 brachytherapy systems will be installed in radiation therapy centres across the world by 2020. LMICs account for over 60% of cancer cases. Because these countries have restricted access to technologically advanced products, 80 percent of patients in these countries are unable to receive therapy. Only 3-4 percent of radiation demands in LMICs are addressed, compared to 60-80 percent in European countries for brachytherapy devices market.

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