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.
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However, other factors such as increased geriatric population and rising awareness of minimally-invasive radiotherapy procedures have been a great contributor to the growth of the brachytherapy devices market. Rise in the demand for devices in newly established hospitals across underdeveloped regions is also a key aspect of market growth, especially in the Asia Pacific region.
Key Takeaways from Brachytherapy Devices Market Study
- North America is the dominant region and accounted for US$ 363 million in market value in 2019.
- Hospitals are the leading end user segment, and will hold 60% of the total market share.
- Cervical cancer is the leading indication segment of the market, with an average of 500,000 females getting diagnosed every year.
- The applicators segment of the global brachytherapy devices market is set to expand at a growth rate of 8.4%.
- The brachytherapy devices market is in a state of consolidation, where key players account for over 70% of the market revenue.
- North America holds the largest share in the brachytherapy devices market. This is predominantly due to rise in cancer cases and convenient insurance policies laid out by healthcare sector in the region. Factors such as research & development of brachytherapy devices with new and advanced technologies also helps this regional market to do well in this space.
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“The COVID-19 pandemic has resulted in reduced hospital visits for other ailments, which is having a slight negative impact on the growth of the brachytherapy devices market,”says a Fact.MR analyst.
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.
| Type | Brachytherapy AfterloadersBrachytherapy ApplicatorsIntracavitary ApplicatorsInterstitial ApplicatorsOthersOthers |
| Indication | Prostate CancerBreast CancerCervical CancerSkin CancerOthers |
| Dose Rate | High Dose Rate (HDR) BrachytherapyLow Dose Rate (LDR) BrachytherapyPulse Dose Rate (PDR) BrachytherapyOthers |
| End User | HospitalsCancer Treatment CentersOthers |
| Region | North AmericaLatin AmericaEuropeAsia PacificMiddle East & Africa |
Methodology Prepared – https://www.factmr.com/connectus/sample?flag=RM&rep_id=5124
The report covers following Brachytherapy Devices Market insights and assessment that are helpful for all participants involved in the Intradermal Injections market:
- Data on recently introduced regulations and their impact on key industries and on demand in Intradermal Injections
- Latest industry Analysis on Brachytherapy Devices Market with key analysis of market drivers, trends, and influencing factors
- Key trends Analysis of Brachytherapy Devices Market and changing consumer preferences in major industries.
- Changing Intradermal Injections demand and consumption of diverse products
- Major trends underlining funding by key investors in numerous countries
- New investment opportunities in diverse technology and product or service types
- Comprehensive data and Competitive analysis of Intradermal Injections major players
- Brachytherapy Devices Market sales in US will grow at a steady pace, driven by growing consumer confidence and economic recovery
- Intradermal Injections demand forecast in Europe remains stable, as many countries such as UK, France, and Germany focus on boosting growth
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