Global Brachytherapy Devices Market - 2023-2030

Global Brachytherapy Devices Market - 2023-2030

Global brachytherapy devices market reached US$ XX million in 2022 and is expected to reach US$ XX million by 2030, growing at a CAGR of XX% during the forecast period 2023-2030.

Brachytherapy is a approach utilized for the treatment of specific kinds of cancer and additional conditions. It implicates positioning seeds, ribbons, or capsules that include a radiation source inside the body in or near the tumor. This is occasionally anointed as internal radiation therapy.

Market Dynamics: Drivers & Restraints

Increasing Cases of Cancer

The increasing cases of cancer are expected to boost the global market growth during the forecast period. For instance, according to data from Breastcancer.org, in March 2022, an estimated 287,850 new cases of invasive breast cancer were anticipated to be interpreted in females in the U.S., along with 51,400 fresh cases of non-invasive (in situ) breast cancer in 2022. Moreover, according to the International Agency for Research on Cancer (IARC) 2020 report, in 2020, about 2.3 million new cases of breast cancer were interpreted globally, over any other form of cancer, and by 2040, the incidence of breast cancer is projected to reach about 3 million cases and therefore, with the growing load of breast cancer expected to boost brachytherapy market over the forecast period.

Additionally, the growing geriatric population and increased research activities are among the additional factors boosting the global market during the forecast period.

Lack of Skilled Professionals

However, the shortage of skilled professionals to conduct radiotherapy is expected to hamper the market growth over the forecast period. Further, the lack of awareness and high cost are among the additional factors slowing the global market growth during the forecast period.

Segment Analysis

The global brachytherapy devices market is segmented based on product, dosage type, indication, end user and region.

Seeds Product Type Segment is Expected to Dominate Market

Owing to the increasing market developments in the seeds product type segment it is estimated to dominate the global market during the forecast period. For instance, in February 2023, Isoray, Inc., a medical technology corporation and developer in seed brachytherapy, merged with privately held Viewpoint Molecular Targeting, Inc. The integrated corporations’ focus is expected to be the refinement of cancer therapies utilizing radiation, radiopharmaceuticals, and imaging technologies so that accurate, targeted medical doses are administered straight to cancer patient tumor sites. Moreover, in January 2021, Isoray Medical, Inc., obtained U.S. Food and Drug Administration (FDA) 510(k) authorization for the usage of C4 Imaging’s Sirius positive-signal MRI (Magnetic Resonance Imaging) Markers with Isoray’s Cesium-131, brachytherapy seeds. Further, in June 2020, the FDA cleared (510 K authorized) and CE marked cesium-131 permanent brachytherapy seeds for Prostate cancer, Brain tumors, Head and neck, Gynecological tumors, Lung, etc.

Geographical Analysis

North America is Expected to Dominate the Global Market

Owing to the increased cancer cases and market developments in North America are expected to boost the regional market growth dominating the global market during the forecast period. For instance, according to the American Cancer Society in January 2023, breast cancer was the most common cancer in females in the United States. It accounts for 30% (or 1 in 3) of all recent female cancers in the nation annually. Also, according to the same reference, about 297,790 fresh cases of invasive breast cancer and 55,720 new cases of ductal carcinoma in situ (DCIS) are estimated to be diagnosed in females by the end of 2023. Further, in July 2021, GenesisCare, a top multinational provider of integrated cancer care, completed the order of 27 Flexitron brachytherapy afterloader systems, including assistance contracts. The cancer treatment devices intend to allow GenesisCare to persist to support in the latest world-class technology while delivering access to high-quality care to their patients throughout their U.S. centers.

COVID-19 Impact Analysis

The COVID-19 pandemic had a negative impact on the global market. The lockdown imposed in various countries led to reduced rates of radiotherapy, thereby affecting the revenue generated by the market. A population-based study was carried out in England to analyze the impact of cancer on radiotherapy during the pandemic. The study revealed a significant drop in mean weekly radiotherapy courses in April, May, and June 2020 compared to the corresponding months in 2019. However, with the easing of lockdown restrictions, the radiotherapy market is expected to recover gradually in the coming years.

Market Segmentation

By Product
• Seeds
• Applicators & Afterloaders
• Brachytherapy Systems
• Others

By Dosage Type
• High-Dose Rate (HDR) Brachytherapy
• Low-Dose Rate (LDR) Brachytherapy

By Indication
• Prostate Cancer
• Gynecological Cancer
• Breast Cancer
• Head and Neck Cancer
• Others

By End User
• Hospitals
• Specialty Clinics
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Spain
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• In September 2021, Unicancer acquired multiple Radixact Systems of Accuray, Inc. with the ClearRT with a purpose to deliver personalized therapy to patients in Europe.
• In August 2021, iCAD, Inc.’s Xoft Axxent Electronic Brachytherapy System for the treatment of recurrent glioblastoma demonstrated substantial progress in the general survival of patients who obtained this treatment.
• In Jun-2020, FDA authorized (510 K approved) and CE marked cesium-131 permanent brachytherapy seeds for Prostate cancer, Brain tumors, Head & Neck, Gynecological tumors, Lung etc.

Competitive Landscape

The major global players in the market include Varian Medical Systems, Inc., Becton, Dickinson & Company, Elekta AB, Isoray Medical, Inc., Eckert & Ziegler BEBIG, ICAD, Inc., CIVCO Medical Solutions, Theragenics Corporation, Carl Zeiss Meditec AG and Argon Medical.

Why Purchase the Report?
• To visualize the global brachytherapy devices market segmentation based on product, dosage type, indication, end user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of brachytherapy devices market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key product of all the major players.

The global brachytherapy devices market report would provide approximately 69 tables, 69 figures and 182 pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies