The global brachytherapy market is expected to reach USD 486.9 million by 2025, according to a new report by Grand View Research, Inc. This growth can be attributed to increasing geriatric population, unhealthy lifestyle, mergers & acquisitions, and unmet needs of cancer care in low- and middle-income countries.
Furthermore, there is rising competition in the brachytherapy market due to technological advancements and presence of players, such as C.R. Bard, Inc.; Elekta AB (pub); IsoRay, Inc.; and Argon Medical Devices, Inc. Hence, brachytherapy market is expected to witness lucrative growth during the forecast period.
According to American Brachytherapy Society, safety and efficacy of brachytherapy treatment over other cancer treatments, such as chemotherapy and surgery, is expected to boost the market.
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Further Key Findings From the Study Suggest:
In 2016, High-Dose Rate (HDR) brachytherapy dominated the market. Furthermore, the HDR brachytherapy segment is anticipated to grow at the fastest CAGR owing to factors such as growing incidence of breast cancer, unhealthy lifestyle, increase in research initiatives, and introduction of technological advancements by key players
HDR brachytherapy decreases radiation exposure time as its implantation is temporary, making it more convenient for patients than LDR brachytherapy in which radiation sources are permanently implanted
The application segment comprises of prostate cancer, breast cancer, and gynecological cancer. The breast cancer segment is expected to exhibit lucrative growth by 2025 with a CAGR of more than 5%, as breast cancer is the second most common cancer according to GLOBOCAN
Geographic expansion into Europe, Asia Pacific, and Middle East & Africa by well-established players is anticipated to promote fastest growth in the region
Asia Pacific is the fastest growing region due to increased prevalence of cancer and increasing access to radiation therapy, such as Esteya, an electronic brachytherapy system for treating skin cancer
Some of the key players in the brachytherapy market are Elekta AB (pub); Varian Medical Systems, Inc.; IsoRay Medical, Inc.; iCAD, Inc.; and Eckert & Ziegler BEBIG
In August 2016, Eckert & Ziegler BEBIG acquired BrachySolutions BVBA, one of the largest European prostate seed distributors, for portfolio enhancement. Through this acquisition, the company has secured a strong position in Europe as a seed manufacturer.
Grand View Research has segmented the global brachytherapy market on the basis of type, application, and region:
Type (Revenue, USD Million, 2014 - 2025)
High Dose Rate (HDR) Brachytherapy
Low Dose Rate (LDR) Brachytherapy
Application (Revenue, USD Million, 2014 - 2025)
Regional Outlook (Revenue, USD Million, 2014 - 2025)
Middle East Asia
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