Wilmington, Delaware, United States, Transparency Market Research Inc. -, Aug. 15, 2024 (GLOBE NEWSWIRE) -- As per the report published by Transparency Market Research, the global brachytherapy devices market (근접 치료 장치 시장) was worth US$ 1.0 Bn in 2023 and is expected to reach US$ 1.9 Bn by the year 2034 at a CAGR of 5.9 % between 2024 and 2034.
Brachytherapy is an advanced form of cancer treatment that implies administering radiation therapy by positioning a radioactive source either directly within or close to a tumor. This technique ensures targeted radiation to the cancerous tissue while minimizing exposure to surrounding healthy areas.
There are two primary approaches: interstitial brachytherapy, where the radioactive source is inserted directly into the tissue, and intracavitary brachytherapy, where the source is placed near the tumor within a body cavity. This method is commonly employed for treating cancers such as prostate, breast, cervical, and skin cancers, thanks to its precision and reduced treatment time.
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Brachytherapy Devices Market Overview
Brachytherapy devices are used for assistance in cancer treatment in order to mitigate the tumor in an efficient way and also to prevent health hazards. These devices are specialized medical instruments placed within or adjacent to the tumor that acts a radioactive source allowing efficient and precise pathway of radiation delivery.
Brachytherapy equipment benefits from treatment advances, as it allows for better identification of suitable candidates for low-dose rate brachytherapy and offers alternatives such as combination treatments and tailored treatment approaches.
Moreover, the major players operating in the market are making huge investments for the expansion of the overall market. For instance, in January 2024, Cathay Capital announced an investment of EUR 15.0 Mn in BEBIG Medical. The investment primarily aims to expand the go-to-market for the medical equipment firm’s linear accelerators and radiotherapy products. BEBIG Medical’s product portfolio includes high-dose rate brachytherapy, X-Ray therapy products, and intraoperative radiation therapy devices.
Furthermore, various cancer treatment studies are being conducted with the use of brachytherapy devices. For instance, in October 2021, Edinburgh Cancer Center published that it would be offering a high dose rate of brachytherapy for the treatment of aggressive prostate cancer. It is one of the first cancer care centers in Scotland to offer HDR-BT for treating prostate cancer. Hence, initiatives like this are further expected to have a positive impact on the growth of the studied market.
Brachytherapy Devices Market Report Scope:
| Report Coverage | Details |
| Forecast Period | 2024-2034 |
| Base Year | 2020-2022 |
| Size in 2023 | US$ 1.0 Bn |
| Forecast (Value) in 2034 | US$ 1.9 Bn |
| Growth Rate (CAGR) | 5.9% |
| No. of Pages | 240 Pages |
| Segments covered | Product Type, Dose Rate, Indication, End-user |
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What’s with Brachytherapy Devices Market Regional Insights?
- North America generated the largest market value in 2023. The region is expected to maintain its dominance during the forecast period as well.
Increasing prevalence of cancer, particularly prostate, breast, and cervical cancers, technological innovations in brachytherapy such as the development of high-dose rate (HDR) brachytherapy and image-guided brachytherapy (IGBT), rise in awareness regarding benefits associated with brachytherapy among patients and oncologists, growing number of specialized cancer treatment centers across North America, surge in government initiatives and funding for cancer treatment research and healthcare infrastructure, and increasingly prefer targeted therapies that minimize damage to surrounding healthy tissues are some of the factors driving brachytherapy devices market share in the region.
In December 2020, The International Agency for Research on Cancer (IARC) report stated that the global cancer burden is estimated to have risen to 19.3 million new cases and 10.0 million deaths in 2020. It further states that 20% of the global population develops cancer during their lifetime, and 1 in 8 men and 1 in 11 women succumb to it.
The same report has also stated that 10 most common cancer types account for more than 60% of the newly diagnosed cancer cases and more than 70% of the cancer deaths. The other set of observations include the fact that female breast cancer is the most commonly occurring cancer worldwide, followed by lung cancer, colorectal cancer, prostate cancer, and stomach cancer.
Key Players
Boston Scientific Corporation, BD, CIVCO Medical Solutions, Cook, BEBIG Medical GmbH, Elekta, Theragenics Corporation, Varian Medical Systems, Inc., and Icad Inc. are some of the leading key players operating in the global industry.
Recent Developments Overseeing Brachytherapy Devices Market
In July 2024, Medanta Hospital based in Gurugram (India) announced an advancement in late-stage cervical cancer treatment with the patenting of its innovative Medanta Anterior Oblique Lateral Oblique (MAOLO) template. This device addresses the need for effective treatment of large tumors (exceeding 100cc) as compared to the commercially available applicators that manage tumors up to 36cc.
Brachytherapy Devices Market
Product Type
- Brachytherapy Afterloaders
- Brachytherapy Applicators
- Intracavitary Applicators
- Interstitial Applicators
- Others
- Others
Dose Rate
- High Dose Rate (HDR) Brachytherapy
- Low Dose Rate (LDR) Brachytherapy
- Pulse Dose Rate (PDR) Brachytherapy
Indication
- Prostate Cancer
- Breast Cancer
- Cervical Cancer
- Skin Cancer
- Others
End-user
- Hospitals
- Cancer Treatment Centers
- Others
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