Brachytherapy Market Size, Share 2023: Business, Analysis, Drivers, Growing CAGR of 7.33%, Demand, Trends and Forecast to 2022-2032: SPER Market Research
According to SPER Market Research, Global Brachytherapy Market is projected to be worth USD 1.84 billion by 2032 and is estimated to expand at a CAGR of 7.33%. For cancer therapy, brachytherapy equipment is preferred over alternative radiation therapy equipment because patients who receive treatment with it are less likely to experience a subsequent relapse. Two further modern brachytherapy methods are pulse dose rate and image guided brachytherapy (IGBT). The prospective uses of brachytherapy in the management of prostate cancer are driving the category. A sizable CAGR is projected for the breast cancer brachytherapy application category over the course of the forecast period. The increased use of brachytherapy in Accelerated Partial Breast Irradiation is one of the key drivers of market growth in this area (APBI). In addition, this market is expected to develop as a result of the rising incidence of breast cancer.
Brachytherapy Market Overview:
- Forecast CAGR (2022-2032): 7.33%
- Forecast Market Size (2032): 1.84 billion
The COVID-19 epidemic has had an impact on healthcare systems around the world, and it has also had a substantial influence on the market for brachytherapy equipment. In a study published last year titled “The Impact of COVID-19 on Brachytherapy,” it was found that four patients received brachytherapy treatment in place of elective surgeries because the pandemic forced the system to postpone elective surgeries for six patients with unfavourable intermediate- and high-risk diseases. Despite the challenges the healthcare system faced throughout the epidemic, the majority of cancer patients were safely treated with only a few treatment delays and disruptions. As a result, the limitations imposed by COVID-19 had a significant impact on them. However, it is predicted that brachytherapy equipment will be required.
Brachytherapy Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Argon Medical Devices, Becton, Best Vascular, Carl Zeiss Meditec AG, CIVCO MEDICAL SOLUTIONS, Dickinson and Company, Eckert & Zieglet BEBIG A.G, Elekta AB, iCAD Inc, Isoray Inc, Panacea Medical Technology Pvt. Ltd., RadiaDyne, SUN NUCLEAR CORPORATION, Theragenics Corporation, VARIAN MEDICAL SYSTEMS, Inc.
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Global Brachytherapy Market Segmentation:
By Product: Based on the Type, Global Brachytherapy Market is segmented as; (Applicators & Afterloaders, Electronic Brachytherapy, Seeds)
By Dosage: Based on the Dosage, Global Brachytherapy Market is segmented as;(High-Dose Rate (HDR)Brachytherapy, Low-Dose Rate (LDR)Brachytherapy)
By End User: Based on the End User, Global Brachytherapy Market is segmented as; (Hospitals, Specialty Clinics, Others)
By Application: Based on the Application, Global Brachytherapy Market is segmented as; (Breast Cancer, Gynecological Cancer, Prostate Cancer, Others)
By Region: The regions of Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa make up the worldwide market. Due to the significant presence of major international players and the widespread use of cutting-edge brachytherapy technologies by healthcare facilities in the region, North America is anticipated to dominate the market during the forecast period. Asia Pacific is anticipated to develop at the second-fastest rate in the global brachytherapy market over the course of the projection period. Government spending on sophisticated medical care in the region is increasing, which is promoting market expansion.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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Sara Lopes, Business Consultant – USA
SPER Market Research