Brachytherapy Market Share, Growth, Size Analysis and Forecast 2032

Brachytherapy Industry Prospective:

The global Brachytherapy market size accrued earnings worth approximately USD 979.52 Million in 2023 and is predicted to gain revenue of about USD 1854.51 Million by 2032, is set to record a CAGR of nearly 7.35% over the period from 2024 to 2032.

The study includes drivers and restraints for the brachytherapy market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the brachytherapy market on a global level.

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Brachytherapy Market: Overview

Brachytherapy places radioactive material on a permanent or temporary basis inside the body to damage cancer-causing cells and abolishes their capability to split and grow. Brachytherapy is a well-established type of internal radiation therapy in which the radioactive sources are used and placed right into the target area or around the tumor. As compared to therapy of external beam radiation, brachytherapy provides a high dose of radiation to precise positions in the body; the technique targets the tumor and reduces radiation to the nearby healthy tissue.

The increasing prevalence of various types of cancer incidences is majorly fueling the demand for the brachytherapy market. In 2016, around 1.6 million new cases of cancer were diagnosed in the U.S., according to the American Cancer Society (ACS). Moreover, increasing healthcare expenditure and rise in research funding for the treatment of cancer will significantly boost the brachytherapy market during the forecast period.

Furthermore, high precision and accuracy of tumor-specific radiation dose delivery of high dose rate brachytherapy coupled with few side effects and speedy recovery will boost the brachytherapy market over the forecast period. However, the high costs of treatment are expected to hinder brachytherapy market growth.

In order to give the users of this report a comprehensive view on the brachytherapy market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein technique, application, and end-user segments are benchmarked based on their market size, growth rate, and general attractiveness.

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The report provides company market share analysis in order to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new technology launch, agreements, partnerships, collaborations & joint ventures, research & development, technology, and regional expansion of major participants involved in the market on a global and regional basis. Moreover, the study covers price trend analysis and product portfolio of various companies according to the region.

Brachytherapy Market: Segmentation

Based on technique, the brachytherapy market has been segmented into high dose rate and low dose rate. By technique, the high dose rate segment is expected to register the highest growth rate over the forecast period. The high growth rate of this segment is attributed to the short period of the treatment and high accuracy. 

By application, the global brachytherapy market is segmented into cervical cancer, prostate cancer, breast cancer, skin cancer, and others. Breast cancer gained the highest market share in 2016 and is expected to show the highest CAGR over the forecast period. The prevalence of breast cancer across the globe is expected to drive the growth of the segment.

By end-user, the global brachytherapy market is segmented into hospitals and oncology treatment centers. Hospitals segment is estimated to dominate the global brachytherapy market over the forecast period.

Brachytherapy Market: Report Scope

Brachytherapy Market: Regional Analysis

By region, the global brachytherapy market is segmented into five major regions North America, Asia Pacific, Europe, Middle East & Africa, and Latin America. North America is projected to remain the leading region over the forecast period. High prevalence of cancer and the adoption of advanced diagnostic techniques in the region is expected to enhance the growth of North America in global Brachytherapy market over the forecast period. Europe was the second largest market followed by the Asia Pacific. Asia Pacific market is estimated to grow at the highest growth rate during the forecast period, owing to the increasing disease burden of cancer along with the escalating population. Furthermore, rising cancer awareness and favorable government initiatives will accelerate market growth. Latin America and the Middle East & African markets are expected to experience moderate growth in the years to come.

Brachytherapy Market: Competitive Analysis

The global brachytherapy market is led by players like:

• Eckert & Ziegler BEBIG
• IsoRay Medical, Inc
• Carl Zeiss Meditec AG
• Argon Medical Devices Inc
• Panacea Medical Technologies
• Elekta AB
• Boston Scientific Corporation
• CR Bard Inc
• GE Healthcare
• Varian Medical Systems, Inc

The global brachytherapy market is segmented as follows:

Global Brachytherapy Market: Technique Segment Analysis

• High Dose Rate
• Low Dose Rate 

Global Brachytherapy Market: Application Segment Analysis

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

Global Brachytherapy Market: End-User Segment Analysis

• Hospitals
• Oncology Treatment Centers 

Global Brachytherapy Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa