|Study Period:||2018 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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Brachytherapy devices market is projected to register a CAGR of 5.5% during the forecast period (2021-2026)
Brachytherapy devices are commonly used for effectively treating gynecologic, prostate, breast, and other types of cancer. According to the World Health Organization (WHO), cancer is the second leading cause of death globally and was estimated to account for 9.6 million death in 2018. Brachytherapy is related to the implementation of radioactivity within the body, to ablate or kill cancer or tumor cells within, or near the target area in the body. It is also used in combination with chemotherapy, surgery or external radiation therapy. Other factors, such as rising government initiatives to increase awareness and technological advancements in minimally invasive surgical procedures is expected to drive the brachytherapy devices market in the forecast period.
However, the lack of skilled radiologists and advanced radiotherapy facilities and reimbursement issues is among the major barrier to the growth of this market over the forecast period.
Scope of the Report
As per the scope of the report, Brachytherapy is a type of internal radiation therapy that involves the placement of radioactive material inside the patient body to treat cancer.
|High Dose Rate Brachytherapy Devices|
|Low Dose Rate Brachytherapy Devices|
Key Market Trends
Breast Cancer Segment is Expected to Register a Significant Growth Over the Forecast Period
By Application, the market has been segmented into gynecologic cancer, prostate cancer, breast cancer, and others. The breast cancer segment is expected to register significant growth as compared to other cancer types. This is majorly attributed to the increasing prevalence of breast cancer across the world. As per estimates provided by the Breast Cancer Organization in 2019, an estimated 268,600 new cases of invasive breast cancer are expected to be diagnosed in women in the United States, along with 62,930 new cases of non-invasive (in situ) breast and this is expected to grow during the forecast period. Intracavitary brachytherapy is the most common type of brachytherapy for women with breast cancer. In this approach, a device containing radioactive substance is placed within the body and is left there until treatment is complete. In addition, rising government initiatives to increase awareness and technological advancements in minimally invasive surgical procedures also contribute to the growth of the brachytherapy devices market.
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North America Dominates the Market and Expected to do the Same Over the Forecast Period
North America dominates the market owing to the increasing incidences of cancer and early adoption of new technologies. The United States holds the majority of the market in the North American region due to high patient pool and well-developed infrastructure. However, Asia Pacific is expected to grow at a faster rate due to the increasing awareness regarding advanced treatment options, and the presence of emerging economies in this region. The emerging countries such as India and China are majorly focusing to improve their healthcare infrastructure in both urban and rural areas, that will boost the overall healthcare facility in the region.
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The major players in the brachytherapy devices market includes Argon Medical Devices, Becton, Dickinson and Company, Carl Zeiss Meditec AG, Eckert & Ziegler BEBIG S.A., Elekta AB, iCAD Inc., Isoray Inc., Theragenics Corporation, and Varian Medical Systems Inc., which provides these products across the globe.
In November 2020, Vivos Inc announced that it has completed its submission to the FDA seeking Breakthrough Device Designation for Radiogel. The company has developed an Yttrium-90 based injectable brachytherapy device, for the treatment of tumors in animals (Isopet) and in humans (Radiogel).
In August 2020, Elekta announced that its Geneva brachytherapy applicator received U.S. FDA 510(k) clearance, enabling individuals with cervical cancer in the United States to benefit from the applicator's ability to precisely target brachytherapy.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Burden of Cancer
4.2.2 Rising Government Initiatives to Increase Awareness
4.2.3 Technological Advancements in Minimally Invasive Surgical Procedures
4.3 Market Restraints
4.3.1 Lack of Skilled Radiologists and Advanced Radiotherapy Facilities
4.3.2 Reimbursement Issues
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Technique
5.1.1 High Dose Rate Brachytherapy Devices
5.1.2 Low Dose Rate Brachytherapy Devices
5.2 By Application
5.2.1 Gynecologic Cancer
5.2.2 Prostrate Cancer
5.2.3 Breast Cancer
5.3.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.3.4 Middle East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle East and Africa
5.3.5 South America
18.104.22.168 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Argon Medical Devices, Inc.
6.1.2 Becton, Dickinson and Company
6.1.3 Carl Zeiss Meditec AG
6.1.4 Eckert & Ziegler BEBIG S.A.
6.1.5 Elekta AB
6.1.6 iCAD Inc
6.1.7 Isoray Inc
6.1.8 Theragenics Corporation
6.1.9 Varian Medical Systems Inc
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Brachytherapy Devices Market market is studied from 2018 - 2026.
What is the growth rate of Brachytherapy Devices Market?
The Brachytherapy Devices Market is growing at a CAGR of 5.5% over the next 5 years.
Which region has highest growth rate in Brachytherapy Devices Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Brachytherapy Devices Market?
North America holds highest share in 2020.
Who are the key players in Brachytherapy Devices Market?
Becton, Dickinson and Company, Carl Zeiss Meditec AG, Eckert & Ziegler BEBIG S.A., Elekta AB, Varian Medical Systems Inc., are the major companies operating in Brachytherapy Devices Market.