Brachytherapy Market Size, Share & Analysis | Forecast 2031

Report Description

The global brachytherapy market size was USD 950.7 Mn in 2022 and is likely to reach USD 1720.5 Mn by 2031, expanding at a CAGR of 7.5% during 2023–2031. The market growth is attributed to the rising cancer cases, growing preference for speedy cancer treatments, technological advancements, and supportive regulations by the various governments.

In brachytherapy treatment, a closed radiation source is placed in a small implant container, which is then planted in the cancer patient’s body. The implants used in this therapy are recognized per their size and materials, such as capsules, balloons, pellets, seeds, wires, ribbons, needles, and so on. The implants, no matter what size they are, are placed as close to the cancerous tumor as possible, to gain maximum results without harming the healthy cells.

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Brachytherapy is performed in a closed hospital environment of an operating room to keep control of radiation. The patient is given anesthesia to make them either fall into a deep sleep or numb the area which is to be operated on during implant.

The applicators such as metal or plastic tubes are used for placing implants into the body tissue or cavity. Medical imaging solutions including X-rays, ultrasound, magnetic resonance imaging (MRI), and CT scan are used during the implant procedure to zero in on the place where the implants are to be placed in the body.

Brachytherapy enables delivering a higher amount of radiation to the cancer-affected area than conventional external radiation therapies. The highly concentrated radiation allows the maximum killing of cancer cells, without affecting the surrounding normal tissues.

The market report finds that the COVID-19 pandemic affected the brachytherapy market. As most of the healthcare establishments around the world focused on treating COVID-19 patients, the therapies were postponed as cancer patients desired to stay away from infection risks. The market growth further slowed down due to lesser budget allocations for buying equipment for cancer therapy by hospitals and specialty clinics over the last few years. The market is expected to resurge from COVID-19-caused decline as hospital and specialty clinics have started operating normally post vaccinations.

Brachytherapy Market Dynamics

The research report presents a complete market overview by providing detailed information about the current market trends, existing drivers, growth opportunities and potentials, and emerging challenges. The global brachytherapy market report has up-to-date insights about market scenarios that can shape the overall market performance and output during the forecast period, 2023 to 2031.

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Major Drivers 

Cancer cases are rising across the world each year, owing to factors such as poor lifestyles, smoking habits, drug addiction, alcoholism, and stressful living, among others. As brachytherapy is effective against major cancer types, its demand is anticipated to boost in the coming years.

As per the statistics given by the World Health Organization (WHO) cancer was one of the major reasons of death in 2020 worldwide. According to WHO reports, the most commonly diagnosed cancer type in 2020 were breast cancer (2.26 million), lung cancer (2.21 million), colon & rectum cancer (1.93 million), prostate cancer (1.41 million), skin cancer (1.20 million), and stomach cancer (1.09 million). This increasing prevalence of cancer is driving brachytherapy, as the demand for safe and efficient cancer therapy is growing among cancer treatment-taking patients.

Existing Restraints

The limited access to skilled professionals and lack of advanced medical devices across most of the healthcare establishments around the world, especially in developing regions is anticipated to hamper the brachytherapy market growth. Brachytherapy requires to be performed by a skillful professional and also needs advanced medical devices such as bio-imaging, monitoring, and others.

The involvement of radiation therapy means that healthcare facilities need to have the proper technology, machines, and operating rooms to deliver effective and safe treatments. However, in most parts of the worldwide healthcare systems such facilities, skills, and advanced medical devices are available in a limited means. These factors are expected to restrain the global market growth during the forecast period.

Emerging Opportunities 

Healthcare budgets and spending are rising in emerging economies around the world, which is anticipated to provide substantial growth opportunities for the global market players. The disposable income and lifestyle in countries such as India, Japan, China, and others are consistently evolving owing to increased urbanization, technology use, and industrialization.

Cancer patients in developing regions are likely to prefer less invasive cancer treatment therapies that give speedy results and require fewer complications. In addition, the healthcare budgets allocated by governments and private institutions on advanced therapies are increasing, which is anticipated to create lucrative expansion opportunities for the prominent players in the brachytherapy market.

Scope of Brachytherapy Market Report

The report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Based on dose type, the global brachytherapy market is divided into low-dose rate (LDR) brachytherapy, high-dose rate (HDR) brachytherapy, pulse dose rate (PDR) brachytherapy, and image-guided brachytherapy. The high-dose rate (HDR) brachytherapy segment is expected to generate higher revenues during the forecast period. The growth of the segment is attributed to the high efficiency and speedy procedure benefits provided by high-dose rate brachytherapy. HDR therapy held the largest share of market revenues in 2021 and is expected to be at the forefront of radiation oncology during the forecast period. The recovery in HDR therapy is quicker, as patients need to allocate one to two days’ time in hospitals for the therapy.

The low-dose rate (LDR) brachytherapy segment is projected to hold a considerable revenue share of the market during the projection period. The LDR therapy is evidence-based in gaining excellent oncologic results. This therapy is commonly used for treating prostate cancer. The introduction of advanced products to carry out LDR brachytherapy for different cancer types is likely to aid the segment’s growth in the coming years.

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On the basis of device, the global market is segregated into applicators, seeds, and after loaders. The seeds segment is projected to register a significant CAGR during the forecast period. Seeds brachytherapy devices are capable of delivering high-dose radiation to cancer-affected body parts over a longer duration, owing to this benefit, their use has increased in brachytherapy treatments. The technological advancements are aiding in preventing the migration of seed implants and making them highly efficient in delivering targeted radiation to cancer tissues.

The applicators segment is also expected to expand at a rapid pace during the forecast period. Applicators are minimally invasive and highly efficient in killing cancer tissues, owing to this its preference is high amongst the cancer patients who opt for brachytherapy. The key players in the market are introducing advanced products, which is also driving the market.

Based on application, the global brachytherapy market is divided into breast cancer, prostate cancer, gynecological cancer, cervical cancer, skin cancer, and others. The prostate cancer segment is expected to expand at the fastest growth rate during the projected period. As per several studies reported, prostate cancer is the second most commonly occurring cancer in men and the fourth most occurring cancer in overall cancer cases across the world.

An increase in prostate cancer diagnostics around the world is expected to fuel the demand for brachytherapy afterloader. Prostate brachytherapy is highly effective in treating prostate cancer, due to which it is preference is increasing in cancer treatment taking patients for getting quick relief.

The breast cancer segment is also anticipated to grow at a rapid pace owing to the increasing breast cancer diagnostics worldwide. Brachytherapy afterloader is used for accelerated partial breast irradiation, which is fueling the segment growth in the market. It is commonly used for treating early-stage breast cancers to efficiently prevent cancer spread in healthy tissues.

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In terms of region, the global brachytherapy market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market size of North America is expected to dominate the market during the forecast period. The growth of the market in the region is owing to the high presence of key market players and the adoption of technological advancement in providing brachytherapy by healthcare establishments in the region.

The healthcare sector in North America has widely adopted advanced treatments and equipment for treating cancer patients efficiently. The increasing prevalence of breast cancer, prostate cancer, and skin cancer, among others in the region, is also aiding the market growth in the region.

Asia Pacific is projected to be the second fastest-growing region in the global brachytherapy market during the projection period. The growing budget for advanced healthcare treatment by the government and the private players is anticipated to aid the market growth in the region. In addition, the large population of the developing economies of the region such as China and India, and high disposable income factors are fueling the demand for advanced cancer therapies in the Asia Pacific.

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