Brachytherapy Market Size Is Expected to Register a CAGR of 10.9% By 2023

Brachytherapy Market Size Is Expected to Register a CAGR of 10.9% By 2023

“Brachytherapy Market”
Brachytherapy Information, by type (High dose-rate (HDR) brachytherapy, Low dose-rate (LDR) brachytherapy, Pulse Dose Rate (PDR) brachytherapy), by device (after loader and applicators) by application prostate cancer, cervical cancer, breast cancer, skin cancer, others) – Global Forecast till 2023

Brachytherapy Market Synopsis:

Global Brachytherapy Market is set to register 10.9% CAGR over the forecast period says Market Research Future (MRFR) period 2017 to 2023. Brachytherapy is a type of medical process where radiation emitting source is inserted or placed beside the affected area of the body. The therapy has gained much popularity over the recent years and is likely to gain more traction with the developments of the healthcare sector over the next few years.

Brachytherapy is widely used in treating patients with cancer. The rising burden of cancer is one of the prime factors anticipated to boost the expansion of the brachytherapy market in the nearby future. At present, millions of patients are currently suffering from cancer, and increasing patient population is likely to lead market growth over the next few years.

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Brachytherapy is preferred over other radiation methods for ensuring optimum efficiency. Increasing cure rate of the therapy is expected to favor the growth pattern of the brachytherapy market through the assessment period. The treatment also facilitates deliverance of large doses of radiation to specific areas of the body. It is expected to increase in demand in the years to come across the healthcare sector for cancer treatment. Hence, the future trajectory of the brachytherapy market is poised to remain lucrative during the assessment period.

Brachytherapy is followed by adverse effects such as soreness, blood in urine, etc. This can pose a challenge to market players. However, the side effects of the therapy are lower than that of the radiation therapy (external beam radiation), which is likely to provide impetus to the expansion of the brachytherapy market in the foreseeable future.

Brachytherapy Market Segmentation:

On the basis of type, the global brachytherapy market has been segmented into low dose-rate (HDR) brachytherapy, high dose-rate (LDR) brachytherapy, and pulse dose rate (PDR) brachytherapy.

On the bases of the device, the brachytherapy market has been segmented into after loaders and applicators.

On the basis of application, the global brachytherapy market has been segmented into prostate cancer, breast cancer, skin cancer cervical cancer, and other types of cancers. Other types of cancer include the following sub-segments – esophageal cancer, anal/rectal tumors, head and neck cancers, and gynecologic cancers.

Brachytherapy Market Regional Analysis:

The geographical evaluation of the global brachytherapy market spans across major regional segments, namely Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). Americas is the largest regional segment of the market and is anticipated to exhibit tremendous growth over the next couple of years. The rising burden of different types of cancer in the region is expected to boost revenue growth of the brachytherapy market over the next few years. Europe is prognosticated to retain its standing in the second position of the global market for the next few years. Asia Pacific is also projected to grow at a rapid pace across the review period. The developments in the healthcare sector, coupled with rising patient population, is expected to lead market growth over the next few years.

Brachytherapy Market Competitive Dashboard:

The top-notch players of the global brachytherapy market assessed in this MRFR report are Varian Medical Systems, Inc. (US), C. R. Bard, Inc (US), Argon Medical Devices, Inc. (US), Eckert & Ziegler (Germany), Elekta AB (Sweden), IsoAid (US), and IsoRay Medical, Inc. (US). These players are anticipated to experiment with different growth strategies for strengthening their positions in the global marketplace. Some of these strategies are mergers & acquisitions, technological developments, collaborations, clinical trials, research & development, partnerships, etc. The landscape of the brachytherapy market is prognosticated to remain highly competitive over the next couple of years.

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