The global Brachytherapy market size is expected to be worth around US$ 3.4 billion by 2030, according to a new report by Vision Research Reports.
The global Brachytherapy market size was valued at US$ 888.5 billion in 2020 and is anticipated to grow at a CAGR of 8.1% during forecast period 2021 to 2030.
The growth of the market is largely attributable to the rising prevalence of cancer, technology advancements, and increasing investment in R&D by major players.
According to the International Agency for Research on Cancer, the global incidence of cancer is expected to rise to 24.6 million by 2030, from 19.3 million in 2020. This is expected to be a major factor driving the growth of the market. Additionally, technological advancements and favorable reimbursement scenarios, particularly in the developed countries, are expected to drive market growth.
However, the lack of access to technologically advanced systems particularly in developing nations, and the lack of skilled radiotherapy professionals are expected to restraint market growth. Around 70% of the cancer-related deaths occur in low-and-middle-income countries; however, only 3-4% of the needs of the population in these countries are met. This represents significant opportunities for investment for the key market players.
New product launch is one of the key strategies adopted by the leading companies. For instance, in July 2018, IsoRay received FDA clearance for GammaTile Therapy for the treatment of recurrent brain neoplasms. The launch of such technologically advanced products is further expected to propel growth.
The seeds segment dominated the market and accounted for the largest revenue share of 30.5% in 2020. Seeds are small radioactive materials that are placed inside the body. These seeds can be placed in the body permanently or temporarily depending on the type of cancer.
The electronic brachytherapy segment is expected to grow at the fastest rate during the forecast period. This technique involves the usage of miniaturized x-ray sources as opposed to radionuclides. The various advantages of electronic brachytherapy such as low dose radiation to the organ at risk, minimal exposure of treating staff to radiation, and no radioactive waste are some of the major factors driving the adoption of this technique.
The prostate cancer segment dominated the market and accounted for the largest revenue share of 32.9% in 2020. Brachytherapy is an effective treatment option both as monotherapy and in combination with external beam radiation therapy in all patients with localized prostate cancer. The promising applications of brachytherapy in the treatment of prostate cancer are driving the segment.
The application segment is expected to witness a CAGR of 7.6% during the forecast period. The increasing usage of brachytherapy in Accelerated Partial Breast Irradiation (APBI) is one of the major factors driving the growth of this segment. Additionally, the rising incidence of breast cancer is also expected to drive the growth of this segment.
The HDR brachytherapy segment dominated the market and accounted for the largest revenue share of 71.2% in 2020. The therapy is generally done as an outpatient procedure for the treatment of various types of cancers such as skin, cervical, prostate, head and neck, and breast cancer. Short procedure time, higher efficacy, and protection from radiation exposure are some of the factors contributing to the dominance of this segment. HDR afterloaders are gradually replacing LDR afterloaders worldwide, as most manufacturers no longer guarantee the maintenance of LDR systems.
LDR brachytherapy is primarily used for the treatment of prostate cancer. The introduction of new products such as GammaTile for the treatment of brain cancer is expected to drive the growth of this segment. In July 2018, IsoRay received FDA 510K clearance for this product, which uses Cesium-131 seeds which have a better adverse effect profile than other commonly used LDR isotopes.
North America dominated the brachytherapy market and held the largest revenue share of 45.7% in 2020. Brachytherapy is widely used in North America due to the advantages it offers over traditional methods as it is a comparatively safer and efficient cancer treatment. Europe accounted for a share of more than 25.0% in 2020. The usage of brachytherapy in the European region has been increasing over the last 5 years.
In Asia Pacific, the market is poised to witness the highest CAGR during the forecast. The region accounts for over 60% of the world population and half the global burden of cancer. The prevalence of cancer is rising pertaining to an unhealthy lifestyle. In addition, limited access to technologically advanced cancer treatments offers various opportunities for the market players.
Varian Medical Systems, Inc.
Dickinson & Company
Isoray Medical, Inc.
Eckert & Ziegler BEBIG
CIVCO Medical Solutions
Applicators & Afterloaders
Dosage Type Outlook
The Brachytherapy market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Brachytherapy market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Brachytherapy market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Brachytherapy market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Brachytherapy market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Brachytherapy capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Brachytherapy by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Brachytherapy market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Brachytherapy market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Brachytherapy market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Brachytherapy industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Brachytherapy market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Brachytherapy market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Brachytherapy market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Brachytherapy market. These factors have benefited the growth of the global market for Brachytherapy. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Brachytherapy. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Brachytherapy are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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