Brachytherapy Devices Market Size, Share, Growth Report 2032

Industry Perspective:

The global brachytherapy devices market size was worth USD 795.10 million in 2021 and is estimated to grow to USD 1179.9 million by 2028, with a compound annual growth rate (CAGR) of approximately 6.80 percent over the forecast period. The report analyzes the brachytherapy devices market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the brachytherapy devices market.

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Brachytherapy Devices Market: Overview

Radiation therapy called brachytherapy is used to fight cancer. Gynecologic, prostate, breast, and other cancers can be efficiently treated with brachytherapy devices. Brachytherapy equipment has an advantage over other radiation therapy technology because it requires extremely precise placement of the radiation source in the tissue. Brachytherapy devices solely apply radiotherapy to the affected (cancer or tumor-affected) local anatomical areas which is one of its important characteristics. As a result, the healthy tissues are radiation resistant. In the presence of high, localized doses of radiation, brachytherapy devices enable a safe radiation therapy procedure. Catheters are used to insert the radioactive isotopes into the body. The rise of the brachytherapy devices market over the forecast period will be driven by several key factors, including a growth in the human population, an expansion in cancer prevalence, and a growing preference for brachytherapy devices. One strategy that appears to be successful with the major market participants is the development of new products and their launch on a wide and international scale. The makers and producers are projected to continue in this manner, which will assist the global brachytherapy devices market in growing throughout the anticipated period. The market is anticipated to experience a shortage of access to robust, technologically advanced systems throughout this time, particularly in the developing world.

COVID-19 Impact:

The COVID-19 epidemic had a detrimental effect on the world market for radiotherapy. The pandemic outbreak has directed the skilled radiotherapy specialists currently working toward addressing Covid positive patients. Patients are in anguish, and the atmosphere is tense. To assist these patients, the government has boosted its funding, enabling market participants to accelerate their advancements in the brachytherapy devices market and manufacture internationally competitive items that will improve a lot of the target market, which is the patients.

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Key Insights

• As per the analysis shared by our research analyst, the global brachytherapy devices market value to grow at a CAGR of 6.80% over the forecast period.
• In terms of revenue, the global brachytherapy devices market size was valued at around USD 795.10 million in 2021 and is projected to reach USD 1179.9 million, by 2028.
• The growing technological advancements in the healthcare industry and the growing need for cost-effective solutions across the globe are the major factors driving the market's growth.
• By indication, the prostate cancer application is predicted to hold the greatest market share in 2021 due to the expected uses of brachytherapy in the treatment of cancer.
• By end users, hospitals segment is estimated to hold the largest share in the market in 2021. 
• North America dominated the global brachytherapy devices market in 2021.

Brachytherapy Devises Market: Growth Drivers

An increasing incidence of chronic diseases drives market growth.

The key factor driving the market's expansion is an increase in lung and cervical cancer incidence. The largest share of brachytherapy devices in the global market is primarily due to the rising prevalence of cancer & associated deaths globally and the increased demands for linear accelerators & particle therapy systems along with the growing usage of brachytherapy therapy procedures for the treatment of various types of cancers.

Brachytherapy Devises Market: Restraints

The lack of professionals for brachytherapy devices products is expected to hinder the market growth.

Lack of a skilled workforce is the main factor limiting the global brachytherapy devices market growth. The brachytherapy market is projected to slow down in its growth period since there aren't enough specialists with the necessary proficiency in radiotherapy. Only 3–4% of the population's radiation needs are likely to be addressed, and the death rate is low in low- and moderate-income groups.

Brachytherapy Devises Market: Opportunities

Rising technological advancements to bring up market growth opportunities.

A significant technological revolution has transitioned from conventional practices to minimally invasive surgeries. Less intrusive procedures are advantageous because they can analyze data on tissue resistance while being performed. Using a robotic system during therapy has the advantage of lowering the risks associated with removing malignant cells. Along with this development, new methods have been created to deliver care that is more patient-centric, including electronic brachytherapy.

Brachytherapy Devises Market: Segmentation

The global brachytherapy devices market has been segmented into indication, type, end users, dose rate, and region.

Based on indication, the global brachytherapy devices market is segmented into prostate, cervical, breast, skin, and others. The protest cancer category dominated the global market in 2021. All individuals with localized prostate cancer can benefit from brachytherapy, a successful treatment option both alone and in combination with external beam radiotherapy. The segment is driven by the promising applications of brachytherapy in managing prostate cancer.

Based on type, the market is classified into brachytherapy after loaders, brachytherapy applicators, intracavitary applicators, and interstitial applicators. The brachytherapy applicators segment dominated the market in 2021. Further, the applicators segment will account for the bulk of the market share during the forecast period. This is primarily because applicators are significantly more effective than other types and minimally intrusive, highly preferred by patients.

Based on end users, the global brachytherapy devices market is segmented into hospitals, cancer treatment centers, and others. The hospitals are anticipated to have the highest share in this market. Better medical facilities, enticing insurance plans, and people's preference for choosing hospitals with top-notch medical staff are some of the main causes of this. Due to the rising cancer prevalence, hospitals are also subject to government funding. Moreover, the market for brachytherapy equipment will continue to increase steadily, boosting cancer treatment centers.

Based on dose rate, the market is segmented as high dose-rate (HDR) brachytherapy, low dose-rate brachytherapy, and pulse dose rate (per) brachytherapy. LDR segment held a significant share in the market in 2021. The radiation source is positioned inside or next to the tumor and may be left there indefinitely. Low dose rate brachytherapy has been most widely used to treat prostate cancer.

Recent Developments

• In October 2021, Edinburgh Cancer Center announced that it would be offering high dose rate brachytherapy for the treatment of aggressive prostate cancer. It is the first cancer care center in Scotland to offer HDR-BT for treating prostate cancer.

Report Scope:

Brachytherapy devices Market: Regional Landscape

North America dominated the brachytherapy devices market in 2021

North America held the greatest market share in the global brachytherapy devices market in 2021 due to the advantages it has over more conventional procedures and because it is a relatively effective & safe cancer treatment. Cancer incidence is increasing because of an unhealthy lifestyle. Additionally, the limited availability of cutting-edge cancer treatments presents a variety of options for market participants. The significant elderly population in this area will also drive the market demand. Further, the market is driven by the prevalence of chronic diseases and the accessibility of effective treatments for them.

Technology developments in equipment, practical insurance plans, and an increase in the number of elderly people in the area are all contributing factors. A further motivating factor is the high per capita disposable income and rising healthcare cost.

Asia Pacific is anticipated to continue leading the brachytherapy devices market throughout the projected period. The global market for brachytherapy devices is anticipated to grow over the coming years because of technological developments, device demand, and widespread use of brachytherapy devices for all types of cancer. Another essential feature that is anticipated to fuel the market's growth soon is favorable economic policies.

Brachytherapy Devices Market: Competitive Landscape

Some of the main competitors dominating the global brachytherapy devices market include- Boston Scientific Corporation, C.R. Bard Inc., CIVCO Medical Instruments Co. Inc., Cook Medical, BEBIG, Eckert & Ziegler, Elekta AB, Atherogenic Corporation, Varian Medical Systems Inc., and cad Inc.

Global Brachytherapy Devices Market is segmented as follows:

By Type:

• Brachytherapy After loaders
• Brachytherapy Applicators
• Intracavitary Applicators
• Interstitial Applicators
• Others

By Indication:

• Prostate Cancer
• Breast Cancer
• Cervical Cancer
• Skin Cancer
• Others

By Dose Rate:

• High Dose Rate (HDR) Brachytherapy
• Low Dose Rate (LDR) Brachytherapy
• Pulse Dose Rate (PDR) Brachytherapy
• Others

By End User:

• Hospitals
• Cancer Treatment Centers
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa