The most recent study conducted by Report Ocean, titled “Global Brachytherapy Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Brachytherapy. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Brachytherapy Market is valued approximately at USD 736.2 million in 2019 and is anticipated to grow with a healthy growth rate of more than 7.1% over the forecast period 2020-2027. Brachytherapy is a sort of radiotherapy that is increasingly being used in the treatment of a variety of cancer. It is also referred to as internal radiotherapy or seed therapy. On contrary, external beam radiotherapy usually provides radiation from external body, while brachytherapy generally works by accurately aiming the cancerous tumor from internal body.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Radioactive seeds are usually put inside the cancerous tissue and are placed in a way that will damage the cancer tissues most efficiently. The method of pursuing cancerous cells through brachytherapy helps to mitigate the risk of any damage to healthy organs and tissues surrounding the tumor, thereby minimizing the potential side effects as well. This is expected to promote the use of brachytherapy, which, in turn, is contributing significantly towards higher market growth. Furthermore, the rise in cases of breast and prostate cancer around the world, along with the increase in investment in R&D of cancer treatment are the few factors responsible for the high CAGR of the market during the forecast period.
According to the World Health Organization (WHO), breast cancer is the most common type of cancer among female population, with 2.1 million cases reported annually. Similarly, as per Global Cancer Observatory (GCO), the new cases of breast cancer in 2018 across Japan was estimated around 66,000, which accounted for almost 7.5% of the total new cancer cases in the country. While, it is expected to reach almost 92 thousand cases in Japan by 2020. This, in turn, is expected to strengthen the market growth all over the world. However, the dearth of skilled radiotherapy professionals and limited access to technologically advanced products are the few major factors inhibiting the market growth over the forecast period of 2020-2027.
The regional analysis of the global Brachytherapy market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the early adoption of advanced and sophisticated treatment facilities for cancer, along with the presence of a significant number of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in cases of breast cancer and prostrate cancer along with improving healthcare infrastructure in developing countries, such as China and India, would create lucrative growth prospects for the brachytherapy market across the Asia-Pacific region.
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Major market player included in this report are:
Eckert & Ziegler BEBIG
Isoray Medical, Inc.
Elekta AB
Theragenics Corporation
Becton, Dickinson and Company
Civco Medical Instruments Co Inc .
Sun Nuclear Corporation
iCAD Inc.
Varian Medical Systems, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Seeds
Applicators & After loaders
Electronic Brachytherapy
By Dosage Type:
HDR Brachytherapy
LDR Brachytherapy
By Application:
Prostate Cancer
Gynecological Cancer
Breast Cancer
By Region:
North America
U.S.
Canada
Europe
UK
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Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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