Overview:
Brachytherapy
Market is gaining precedence due to the
expanding cancer care treatment segment. This radiation therapy places
radiation source near the affected area and treats the disease accordingly. Its
success rates are higher in comparison to surgery and external beam therapy
(EBT). The global brachytherapy market is all set to gain momentum by 10.9%
CAGR during the forecast period (2017-2023), reveals Market Research Future
(MRFR) in an extensive study where drivers for this market and segmental analysis
are included for a better understanding
of the market in coming years. Growing prevalence of cancer around the globe and brachytherapy’s ability to
treat with high efficiency in a reduced time frame can be considered as chief driving forces for the market.
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Market Insight:
The brachytherapy market is
experiencing growth owing to several strategies getting implemented by
prominent service providers. These strategies include product innovation,
merger, collaboration, acquisition and other methods that help not only
companies to survive but also, the market to cement its foothold and pave in
prospects. For instance, Varian Medical Systems, Inc. acquires Cooperative CL
Enterprises (COOP), a leading distributor of radiotherapy equipment in Taiwan,
to serve better their customers in Taiwan. C. R. Bard, Inc has been bought by Becton
Dickinson in 2017 which can be considered exemplary in this regard.
Key
Players:
Varian
Medical Systems, Inc. (U.S.), Eckert
& Ziegler (Germany), C. R. Bard, Inc (U.S.), Argon Medical Devices, Inc. (U.S.), Elekta AB (Sweden), IsoRay Medical, Inc.
(U.S.), IsoAid (U.S.), and others.
Industry Trend:
Sunnybrook’s Cancer Ablation
Therapy Program is known for precision therapies without invasive surgeries.
The institute introduced MRI-brachytherapy, first-of-its-kind, that reduces
discomfort and trauma from the treatment.
A report published in Elsevier
reveals that 3D-printed templates can be used
in target volume localization for multicatheter
interstitial brachytherapy in patients with breast cancer. This can significantly reduce the technical
complexity associated with the multicatheter
interstitial brachytherapy.
Segmentation:
The global brachytherapy
market can be segmented by type, device,and application.
On the basis
of type, the
brachytherapy market can be segmented
into high dose-rate (HDR) brachytherapy, low dose-rate (LDR) brachytherapy, and
pulse dose rate (PDR) brachytherapy.
Based on devices, the
brachytherapy market can be segmented
into brachytherapy after loaders and applicators.
Based on application, the
brachytherapy market can be segmented
into prostate cancer, cervical cancer, breast cancer, skin cancer and other
types of cancers. Other types of cancer
include esophageal cancer, gynecologic cancers, anal/rectal tumors, head and
neck cancers.
Regional Analysis:
Geographically, the
brachytherapy market consists of four regions the Americas, Europe,
Asia Pacific (APAC) and Middle East & Africa (MEA).
The Americas is the largest market whose
growth is attributed to an increase in
chronic illness and demand for highly effective treatment for cancer. The region has
North and South America. North America is technically superior and implements a
lot of new technology in treatment.
Furthermore, huge investment in the healthcare sector is one driving force that is
changing the market scenario.
Europe is the second largest
market followed by Asia Pacific. The
region is spending a lot in research and development,and its similar features like that of North America is helping out
the regional market in its expansion.
Rising geriatric population,
increasingincidence of cancer and
developing healthcare infrastructure drive the growth of this market in the APAC. The APAC market’s revamping is
showing enough market potential.
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