Newly-released Brachytherapy Market analysis report by Future Market Insights shows that global sales of the Brachytherapy Market in 2021 were held at USD 892.9 million. With a CAGR of 8.3% from 2022 to 2032, the market is projected to reach a valuation of USD 2.1 Billion by 2032.
Applicators and Afterloaders are expected to be the highest revenue-generating segment, projected to grow at a CAGR of over 8.6% from 2022 to 2032.
| Attribute | Details |
|---|---|
| Global Brachytherapy Market (2022) | USD 960.1 million |
| Global Brachytherapy Market (2032) | USD 2.1 billion |
| Global Brachytherapy Market CAGR (2022 to 2032) | 8.3% |
| USA Brachytherapy Market CAGR (2022 to 2032) | 9% |
| Key Companies Profiled | Eckert and Ziegler Group; Isoray Inc.; Elekta AB; Theragenics Corp.; Becton, Dickinson, and Co.; Varian Medical Systems Inc.; iCAD Inc.; CIVCO Medical Solutions; Sun Nuclear Corp.; Huiheng Medical Inc.; AngioDynamics Inc.; Hologic, Inc. |
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As per the Brachytherapy Market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of Brachytherapy increased at around 7.2% CAGR.
During the projected period, the market is likely to develop due to rising cancer incidences, and technical improvements in brachytherapy. The variety of imaging techniques available, many of which can be utilized in real-time, has substantially extended the brachytherapy options.
Ultrasound, Power Doppler imaging, positron emission tomography, and magnetic resonance imaging techniques are some of the techniques of brachytherapy.
As per the American Cancer Society, the number of new cancer cases globally is anticipated to reach 21.6 million by 2030, with more than 13 million cancer fatalities. According to the reports presented by WHO, cancer claimed the lives of around 10 million people in 2020.
Breast cancer is also one of the most frequent cancers, with an estimated 2.26 million new cases in 2020.
Radiation treatment can be used to treat cancer in three ways: preventive, palliative, and curative. It can also be used on its own or in combination with other therapies including surgery, immunotherapy, and chemotherapy.
Radiation's wide range of applications has raised its appeal among doctors. The most recent breakthroughs in radiation treatment enable a high dosage to be delivered to the target location while causing minimal harm to neighboring healthy tissues.
This has increased the possibility of localized tumor management and improved cure rates, leading to an increase in the demand for radiation treatment.
Advances in the healthcare IT industry, expanding healthcare infrastructure, increased public-private partnerships, investments in cancer treatment, and rising demand for advanced care solutions are driving the market expansion.
Radiation treatment is constantly changing and advancing owing to the advancement of groundbreaking technologies. People are being educated about cancer and its treatments through new initiatives and awareness activities.
For example, on 7 April 2022, also regarded as World Health Day, as per the strategy of WHO, the International Agency for cancer and research. Alongside, the Union for International Cancer Control and African Cancer Registry Network launched a publication to commemorate the occasion.
The report presents the effort dedicated to the annihilation of cervical cancer in African countries.
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In 2021, North America held the largest share of the global Brachytherapy Market. It accounted for over 35% of the global revenue derived from Brachytherapy. The surge is being fuelled by rising cancer rates combined with an aging population.
Some of the key factors for regional market expansion are government support for the healthcare sector's development, a high level of cancer awareness, easy access to high-quality medical facilities, and advantageous reimbursement policies.
The growing number of cancer-care product advancements is assisting in the reduction of cancer-related mortality in North America. For example, as per the report published by the American Cancer Society, to overcome treatment resistance in cancers, researchers used a DNA origami/trojan approach.
Also, techniques like self-eradication of cancer during meiosis or electro-permeabilizing the cancer cell membrane are also developed in America.
The United States is expected to account for the highest market of USD 850.1 million by 2032. The market in the country is expected to register an absolute dollar opportunity of USD 486 million and a projected CAGR of 9%.
Due to many variables such as Research and Development (R&D) spending, high healthcare expenditures, the existence of significant companies, and the growing number of cancer patients, the United States is the largest market for brachytherapy.
AngioDynamics, Inc., Hologic, Inc., Isoray, Inc., and Sun Nuclear Corp. are among the leading companies operating in the USA brachytherapy market. To stay competitive in the market, players are using different strategies such as mergers and acquisitions, and collaborations to significantly contribute to market growth.
The brachytherapy market in the United Kingdom is projected to reach a valuation of USD 83 million by 2032. Growing at a CAGR of 8.1%, the market in the country is expected to gross an absolute dollar opportunity of around USD 45 million from 2022 to 2032.
In Japan, the market for brachytherapy is projected to garner USD 71.4 million by 2032. During the forecast period, the market is expected to garner an absolute dollar opportunity of USD 37 million, registering an absolute dollar opportunity of USD 37 million.
The market in South Korea is expected to reach USD 31 million by 2032 growing at a CAGR of 5.7% during the forecast period. From 2022 to 2032, the market is expected to register an absolute dollar opportunity of USD 13.3 million.
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The market revenue through Applicators and Afterloaders is expected to grow at a CAGR of 8.6% during the projection period. Because they are more efficient and are utilized for patient guidance across the cancer care continuum, this therapy plays a crucial role in cancer treatment. Increased investment in cancer research and development also contributes to rising demand for the therapy.
The market revenue through the Breast Cancer application is forecasted to grow at the highest CAGR from 2022 to 2032. This is mostly due to the rising incidence of breast cancer globally. Breast cancer has affected 2.5 million people worldwide in 2020, with 690,000 fatalities. Breast cancer has affected almost 8 million women during the period between 2016 to 20, making it the most common disease in the world.
The most frequent type of brachytherapy for breast cancer patients is intracavitary brachytherapy. In this method, a radioactive substance-containing device is implanted into the body and remains there until the therapy is finished.
Furthermore, increased government initiatives to raise awareness and technical breakthroughs in minimally invasive surgical treatments contribute to the market's growth.
HDR (High-Dose Rate) Brachytherapy commanded the largest revenue as well as a CAGR of nearly 8.3%, during the forecast period. The reason pertains to the advantages it provides to cancer patients.
HDR brachytherapy is a type of radiation therapy in which a large dose of radiation is delivered directly to the prostate. This implies that neighboring healthy tissue receives a low dosage of radiation and is less likely to be harmed or produce negative effects.
HDR brachytherapy can be used to treat a wide range of illnesses, including delivering accurate radiation to cancerous tumors while preventing radiation damage to surrounding tissue, instead of the five to seven weeks that regular radiation usually takes.
Some of the key players in the brachytherapy market include Eckert and Ziegler Group, Isoray Inc., Elekta AB, Theragenics Corp., Becton, Dickinson and Co., Varian Medical Systems Inc., iCAD Inc., CIVCO Medical Solutions, Sun Nuclear Corp., Huiheng Medical Inc., AngioDynamics Inc., and Hologic, Inc.
Some of the recent developments of key Brachytherapy providers are as follows:
Similarly, recent developments related to companies in the Brachytherapy market have been tracked by the team at Future Market Insights, which are available in the full report.
The global Brachytherapy Market is worth more than USD 892.9 million at present.
The value of the Brachytherapy Market is projected to increase at a CAGR of around 8.3% from 2022 to 2032.
The value of the Brachytherapy Market increased at a CAGR of around 7.2% from 2017 to 2021.
Advanced solutions designed for specific requirements of cancer care facilities delivering financial, clinical, operational, and administrative services are bolstering the growth of the Brachytherapy Market.
Brachytherapy Market in China is projected to expand at a CAGR of around 9.9% from 2022 to 2032.
While the market in South Korea is expected to grow at nearly 5.7%, the market in Japan is projected to register a CAGR of nearly 7.4% from 2022 to 2032.
1. Executive Summary | Brachytherapy Market
2. Market Overview
3. Market Background
4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032
5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product Type
5.1. Seeds
5.2. Applicators & Afterloaders
5.3. Electronic Brachytherapy
6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Dosage Type
6.1. HDR Brachytherapy
6.2. LDR Brachytherapy
7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application
7.1. Prostate Cancer
7.2. Gynecological Cancer
7.3. Breast Cancer
7.4. Other Applications
8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region
8.1. North America
8.2. Latin America
8.3. Europe
8.4. Asia Pacific
8.5. Middle East and Africa
9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
12. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
13. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
14. Key Countries Market Analysis
15. Market Structure Analysis
16. Competition Analysis
16.1. Eckert & Ziegler
16.2. IsoRay Medical, Inc.
16.3. Elekta AB
16.4. Theragenics Corporation
16.5. Becton, Dickinson and Company
16.6. CIVCO Medical Solutions
16.7. Sun Nuclear Corporation
16.8. ICAD, Inc.
16.9. Varian Medical Systems, Inc.
17. Assumptions & Acronyms Used
18. Research Methodology
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Brachytherapy Market
