Vancouver, British Columbia--(Newsfile Corp. - April 14, 2021) - The global brachytherapy market size is expected to reach USD 548.8 Million in 2027 at a CAGR of 4.1% during the forecast period, according to current analysis by Emergen Research. Steady market revenue growth can be attributed to increasing application of brachytherapy in treatment of various cancers such as prostate cancer, gynecological cancer, breast cancer, and skin cancer among others. Rising demand and preference for minimally invasive procedures and increasing awareness about the disease in emerging economies are other key factors expected to drive revenue growth of the market over the forecast period.
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Brachytherapy generally involves placement of radioactive material inside the body to shrink tumor cells and is also known as internal radiation. It is one of the radiation therapies extensively used to treat cancers. Brachytherapy enables doctors to use high total dose of radiation to treat small areas in a time-efficient manner. This ensures less radiation is delivered to other surrounding tissues and significantly reduces risk of radiation-induced second malignancies. This has boosted adoption of brachytherapy in cancer treatment and is expected to drive revenue growth of the market over the forecast period.
Technological advancements in brachytherapy such as development of novel and efficient radioactive sources, rapid progress in 3D imaging methods, remote after-loading systems, development of computerized treatment methods, and clinical trials for brachytherapy are key factors expected to drive revenue growth of the market going ahead. However, presence of alternative therapies such as intensity-modulated radiation therapy and 3 dimensional conformal radiotherapy are expected to hamper market growth to a certain extent over the forecast period.
Some Key Highlights from the Report:
Key companies operating in the market include Elekta AB, CR Bard Inc., Varian Medical Systems Inc., Eckert & Ziegler BEBIG SA, CIVCO Medical Solutions, iCAD Inc., Isoray Medical Inc., Sun Nuclear Corporation, Theragenics Corporation, and Huiheng Medical Inc., among others.
In April 2020, Elekta introduced a universal gynecological brachytherapy applicator, Geneva, which has been designed by deploying the outside-in technique of the company. This technique caters to the increasing need of front-line cancer therapists.
High-dose rate (HDR) brachytherapy segment is expected to register significant revenue growth over the forecast period. HDR can be widely used for personalized dose distribution to cater to specific needs of patients by treating tumors with high localized radiation doses with minimal exposure of healthy tissues to radiation. This is a key factor driving revenue growth of this segment.
Prostate cancer is expected to account for largest revenue share in the global market over the forecast period owing to increasing application of brachytherapy in treatment of prostate cancer in early stages.
Specialty clinics are equipped with advanced radiotherapy instrument and devices and skilled staff to assist in diagnosing cancer and deciding appropriate treatment approach. This is expected to contribute to revenue growth of specialty clinics over the forecast period.
Asia Pacific market revenue is expected to expand at a CAGR of 5.6% during the forecast period attributable to increasing incidence of cancer, rising availability of favorable health insurance policies, and improvements in reimbursement policies.
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For the purpose of this report, Emergen Research has segmented the global brachytherapy market on the basis of type, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
High Dose Rate (HDR) Brachytherapy
Low Dose Rate (LDR) Brachytherapy
Application Outlook (Revenue, USD Billion; 2017-2027)
End-Use Outlook (Revenue, USD Billion; 2017-2027)
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Regional Outlook (Revenue, USD Billion; 2017-2027)
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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