Brachytherapy Devices Market
Brachytherapy Devices Market By Indication (Prostate, Cervical, Breast, Skin Cancer), By End User (Hospitals, Cancer Treatment Centers), By Dose Rate, By Type, By Region - Global Market Forecast 2020-2030
Analysis of Brachytherapy Devices market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Global Brachytherapy Devices Market Overview
Brachytherapy is a type of radiotherapy that is used during cancer treatment. It involves a radiation procedure to kill tumors and cancer cells, especially in prostate, breast, and skin cancer.
The global brachytherapy devices market is expected to expand at a notable 8% CAGR throughout the assessment period of 2020-2030. The market is valued at US$ 900 million as of 2019.
Rising prevalence of cancer cases, increase in population, and growing demand for brachytherapy devices are key factors that will propel the expansion of the brachytherapy devices market size over the forecast period. However, worldwide impact of the COVID-19 pandemic has affected the global brachytherapy devices market in a slightly negative way.
The threat caused by the virus spread and the rise in safety precautions are leading causes that will have considerable consequences on the market.
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Brachytherapy Devices Market Product Type Insights
By product, the global brachytherapy devices is segmented into three main types - brachytherapy afterloaders, brachytherapy applicators, and others. Applicators are further divided into intracavitary applicators and interstitial applicators.
The applicators segment will hold a majority market share over the forecast period, mainly due to this type being much more efficient as compared to others, besides applicators are also minimally-invasive, which is a high preference of patients.
The segment is expected to expand at a rate of 8.4% over the forecast period. Key competitors in the brachytherapy devices market, such as Elekta AB, have devoted their portfolios to the expansion of this segment by introducing more advanced types of products, which has also become a significant driver for market growth.
Brachytherapy Devices Market Insights by End User
Based on end user, the global brachytherapy devices market is bifurcated into hospitals, cancer treatment centers, and others. Among these, hospitals account for over 60% share in the market. Key reasons for this are better treatment facilities, favorable insurance policies, and preference of people to choose well-equipped hospitals with professional doctors.
Hospitals are also subjected to government support because of the increasing prevalence of cancer. However, cancer treatment clinics will also witness steady growth in the brachytherapy devices market, owing to the rise of privacy issues and opening of specialized centers with more customized & convenient options for patients.
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Brachytherapy Devices Market Insights by Indication
The indication segment of the global brachytherapy devices market is separated into prostate cancer, breast cancer, skin cancer, cervical cancer, and others. Out of these, the dominant segment holding a majority market share is cervical cancer, followed by prostate cancer, breast cancer, and skin cancer. A key factor of market growth is the steep increase in the number cancer cases across the globe, which results in significant demand for brachytherapy software and devices. According to a survey by WHO, more than 500,000 women die due to cervical cancer every year, worldwide.
Regional Outlook of Brachytherapy Devices Market
The global brachytherapy devices market is segmented into five key regions - North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. North America accounts for the leading brachytherapy devices market share of 40. Key factors are technological advancements in devices, convenient insurance policies, and rise in the geriatric population in the region.
The brachytherapy devices market in Asia Pacific are set to witness one of the fastest growth rates in the market, mainly due to the high rise in population, awareness campaigns, and a rising demand for radiotherapy machines in underdeveloped countries in the region.
Brachytherapy Devices Market: Key Players
The global brachytherapy devices market is slightly fragmented in nature. The market is populated by several key players such as Boston Scientific Corporation, C.R. Bard Inc., CIVCO Medical Instruments Co. Inc., Cook Medical, BEBIG, Eckert & Ziegler, Elekta AB, Theragenics Corporation, Varian Medical Systems Inc., and iCAD Inc. These players have followed strategies such as brand mergers and acquisitions to expand their market growth. Stabilization in product costs have also intensified the competition in the brachytherapy devices market space.
The Analyst’s Viewpoint
“Surge in demand for radiotherapy devices in underdeveloped regions due to increasing cancer cases is a key the growth of the brachytherapy devices market value during the forecast period.”
COVID-19 Impact on Brachytherapy Devices Market
The COVID-19 disease caused by SARS CoV-2 coronavirus has had a crucial impact, globally, from a business standpoint. However, the brachytherapy devices market has witnessed a nominal effect due to the pandemic. The impact is bent more towards the negative side, mainly due to people following stay-at-home rules, which has resulted in a comparatively lesser demand for brachytherapy devices across the globe.
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Brachytherapy Devices Market: About the Report
Fact.MR has published an exclusive forecast report on the brachytherapy devices market for 2020 and 2030. The foremost objective of this report on the brachytherapy devices market is to pitch spearhead insights on the market scenario, demand generators, and technological advancements in the brachytherapy devices market.
Also, the study on the brachytherapy devices market addresses key dynamics that are expected to diversify the sales and future prominence of the brachytherapy devices market.
The report on the brachytherapy devices market begins with an executive overview, in which, product definition has been provided. The report further proceeds with the taxonomy of the brachytherapy devices market, elaborating on key segments.
Also, the report outlines visionary insights on the dynamics of the brachytherapy devices market, including the drivers, restraints, opportunities, trends, and pricing analysis, along with the key buying factors for brachytherapy devices.
Supply chain analysis and pricing analysis of the brachytherapy devices market, along with the difference between brachytherapy devices used as per application, have also been included in the report, to help readers clearly understand the product framework map in the brachytherapy devices market.
Brachytherapy Devices Market: Segmentation
Fact.MR has studied the brachytherapy devices market with detailed segmentation on the basis of by type, indication, dose rate, end user, and key regions.
By Type :
- Brachytherapy Afterloaders
- Brachytherapy Applicators
- Intracavitary Applicators
- Interstitial Applicators
By Indication :
- Prostate Cancer
- Breast Cancer
- Cervical Cancer
- Skin Cancer
By Dose Rate :
- High Dose Rate (HDR) Brachytherapy
- Low Dose Rate (LDR) Brachytherapy
- Pulse Dose Rate (PDR) Brachytherapy
By End User :
- Cancer Treatment Centers
By Region :
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”
- FAQs -
The global brachytherapy devices market is expected to expand at a 8% CAGR through 2030.
Brachytherapy applicators segment to hold a dominant market share.
Prominent players are Boston Scientific Corporation, C.R. Bard Inc., CIVCO Medical Instruments Co. Inc., Cook Medical, BEBIG, Eckert & Ziegler and others.