Brachytherapy Market is Estimated to Witness High Growth Owing to...

Brachytherapy Market is Estimated to Witness High Growth Owing to Opportunity of Development of Novel Radioactive Seeds and Needles

Posted 2024-01-23 06:41:08

Brachytherapy involves the implantation of radioactive sources into or near a tumor site for localized internal radiation therapy. It is a type of radiotherapy used to treat cancers close to or in the body such as cancers of prostate, cervical, breast, and skin. Brachytherapy devices allow accurate placement of radioactive sources into the body, helping deliver high radiation doses directly to the tumor while lowering the radiation exposure to surrounding normal tissues. The global Brachytherapy Market is estimated to be valued at US$ 1119.99 Bn in 2023 and is expected to exhibit a CAGR of 19% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Technological advancements in brachytherapy devices have accelerated the market growth over the past few years. Traditional brachytherapy techniques have evolved with the development of new devices and treatment modalities such as high dose rate (HDR) brachytherapy, low dose rate (LDR) brachytherapy, and pulsed dose rate (PDR) brachytherapy. Additionally, robotic brachytherapy allows automated transfer of radiation sources to target sites with improved accuracy. Digital planning systems have also enabled three-dimensional treatment planning along with real-time dose optimization and image-guided therapies. Such technological developments provide physicians with advanced treatment options leading to better clinical outcomes and improve the quality of life of cancer patients.

Segment Analysis

The global brachytherapy market is dominated by temporary brachytherapy with over 30% share. This is majorly due to the advantages offered by temporary brachytherapy over permanent brachytherapy such as controlled and precise dosage delivery and removal of radiation sources post-treatment. The growth of this segment can be attributed to the increasing prevalence of cancers globally especially prostate and cervical cancers which are commonly treated with temporary brachytherapy methods.

Key Takeaways

The Global Brachytherapy Market Size is expected to witness high growth due to the growing cancer cases worldwide and rising awareness about the benefits of brachytherapy.

North America dominated the brachytherapy market in 2024 owing to rapid adoption of advanced technologies and presence of leading players in the region. Europe is expected to grow at the fastest CAGR during the forecast period owing to increasing government initiatives to spread awareness about cancer treatment options and increasing occurrence of cancers in the region.

Key players operating in the brachytherapy market are Varian Medical Systems; Elekta AB; Becton, Dickinson and Company; IsoRay, Inc.; Eckert & Ziegler BEBIG. Varian Medical Systems held the largest market share in 2024 attributed to its robust product portfolio and global presence.

Get More Insights Here

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https://www.newsstatix.com/brachytherapy-market-size-share-growth-outlook-2023/