Brachytherapy Market Size, Share & Trends Report

Brachytherapy Market Size, Share & Trends Analysis Report By Type (High Dose Rate, Low Dose Rate), By Application (Prostate, Breast, Gynecological Cancer), By Region, And Segment Forecasts, 2019 - 2025

  • Published Date: Jan, 2019
  • Base Year for Estimate: 2017
  • Report ID: GVR-1-68038-618-9
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2017
  • Number of Pages: 120

Industry Insights

The global brachytherapy market size was valued at USD 312.2 million in 2017. It is expected to register a CAGR of 4.8% over the forecast period from 2018 to 2025. According to the World Health Organization (WHO), cancer is one of the leading causes of morbidity and mortality across the globe. More than 70% of cancer-related deaths occur in low- and middle-income countries. The American Cancer Society stated that these countries have an increasing number of cancer patients and they lack access to radiation therapy. This factor is expected to offer new opportunities to the market players present in these regions.

Technological developments in the field of oncology treatment and R&D initiatives undertaken by the key players are some of the major growth drivers for this market. In addition, the companies are opting for acquisitions of smaller players to spread their regional outreach. For instance, iCAD markets the eBx system in U.S. through its subsidiary Xoft. iCAD stated with over 12,000 installation opportunities for tomosynthesis systems in U.S., there is a significant future opportunity for CAD and density assessment solutions for tomosynthesis.

U.S. brachytherapy market

According to the International Agency for Research on cancer, more than 15 million people are suffering from cancer worldwide at present. This number is expected to rise to 24 million by 2035. It is also estimated that 23.6 million new cancer cases will be diagnosed by 2030. Radiation therapy is used to palliate symptoms, cure localized cancer, and prevent cancer cells from spreading in case of incurable cancer. Demand for radiation therapy is expected to increase over the forecast period. The demand is also expected to witness growth in U.S. as radiotherapy is considered as a critical cancer treatment.

In Europe, the EU Science Hub has estimated that the number of new cancer cases in the region are anticipated to increase rapidly due to demographic changes. Radiotherapy is expected to be the most preferred treatment option in such cases. According to the EU Science Hub, by 2018 there will be 3.9 million new cases and more than 1.9 million deaths due to cancer in Europe. In addition, radiotherapy is vital for effective treatment of majority of cancers in middle- and low-income countries. These factors are anticipated to bode well for the growth of the market for brachytherapy in near future.

Type Insights

Radiation therapy can be used for prophylactic, palliative, or curative treatment. It can also be used as monotherapy or as an adjuvant with surgery, immunotherapy, and chemotherapy. The wide range of applications of radiotherapy has increased its adoption by physicians. The latest advancements in radiation therapy allow delivery of a high amount of dose to the target area with minimum damage to nearby healthy tissues. This has increased the chances of localized tumor control and has improved cure rates, leading to an increase in demand for radiation therapy.

Key segments analyzed in this study are Low-Dose Rate (LDR) and High-Dose Rate (HDR) brachytherapy. HDR held the largest market share in terms of revenue in 2017. New products introductions and technological improvements are anticipated to bode well for overall market growth over the forecast period.

Application Insights

Prostate cancer held the dominant market share in 2017 due to the promising applications of brachytherapy in cancer treatment. On the other hand, breast cancer brachytherapy treatment is expected to witness the fastest CAGR over the forecast period due to increasing prevalence globally.

Global brachytherapy market

Recent advances in imaging technology have made this therapy more effective. In HDR brachytherapy, patients receive five weeks of external beam radiation therapy, followed by one to three sessions. In the treatment of prostate cancer, it allows safe escalation of the dosage to the tumor, while minimizing the dosage to surrounding healthy organs. 

Regional Insights

North America held the largest market share in 2017. Brachytherapy is widely used in North America due to the advantages it offers over traditional methods as it is comparatively safer and efficient cancer treatment. According to the American Cancer Society, in 2018, more than 2 million new cancer cases will be diagnosed in U.S. The healthcare reforms in U.S. have improved access and coverage for the population and they aim at increasing efficiency of the health care system.

In Canada, Health Canada ensures the safety of medical devices and it verifies the specifications of medical devices mentioned by manufacturers. Health Canada has established the Canadian Patient Safety Institute (CPSI) to ensure patient safety. While the Canadian Nuclear Safety Commission (CNSC) ensures that the radiation received by the patients is under the supervision of qualified medical practitioners.

Asia Pacific Brachytherapy market is poised to witness the highest CAGR during the forecast period from 2018 to 2025. The region accounts for over 60% of world population and half the global burden of cancer. The prevalence of cancer is rising pertaining to unhealthy lifestyle. In addition, limited access to technologically advanced cancer treatments offers a wide scope for the market players.

Brachytherapy Market Share Insights

Key market players have been undertaking various strategies to expand and strengthen their presence across the globe. As cancer care completely relies on innovations and R&D, the market is likely to witness significant growth in the forthcoming years. Some of the key players opt for mergers and partnerships to capture the untapped markets. With rapid digitization in the field of medicine, more companies are focusing on integrated applications of hardware and software to develop next-generation oncology treatment solutions.

Some of the well-established companies in this market are Eckert & Ziegler BEBIG; IsoRay Medical, Inc.; Elekta AB; and Varian Medical Systems, Inc. These players have been present in the market for more than 35 years. They already have a well-established network of suppliers and customers, which helps in strengthening their market position. Additionally, some of the major companies also operate in other business domains. Hence, most often they are able to invest huge amounts for R&D activities.

Report Scope

Attribute

Details

Base year for estimation

2017

Actual estimates/Historical data

2014 - 2017

Forecast period

2018 - 2025

Market representation

Revenue in USD Million & CAGR from 2018 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Country scope

U.S., Canada, U.K., Germany, Japan, China, Brazil, Mexico, South Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors & trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global brachytherapy market report based on type, application, and region:

  • Type Outlook (Revenue, USD Million, 2014 - 2025)

    • High Dose Rate (HDR)

    • Low Dose Rate (HDR)

  • Application Outlook (Revenue, USD Million, 2014 - 2025)

    • Prostate Cancer

    • Gynecological Cancer

    • Breast Cancer

    • Others

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • Japan

      • China

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

Key questions answered by the report
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