Brachytherapy Market Size to Reach USD 1,785.9 Million by 2032 growing at 7.8% CAGR - Exclusive Report by Acumen Research and Consulting

The Brachytherapy market, valued at USD 912.5 Million in 2023, is projected to surpass USD 1,785.9 Million by 2032, indicating a robust CAGR of 7.8% Brachytherapy is a form of internal radiation therapy in which radioactive sources are placed directly into or near a tumor. This targeted approach delivers a large dose of radiation to the target area while limiting exposure to healthy tissues nearby. It is commonly used to treat prostate, cervical, and breast cancers. Depending on the location and type of tumor, intracavitary, interstitial, or surface applicators may be used. Brachytherapy is often used in conjunction with other therapies, such as surgery or external beam radiation, to improve overall efficacy. However, regulatory challenges and reimbursement issues in certain regions have restrained the brachytherapy market. On the other hand, the market has been driven by expansion into emerging markets experiencing an increase in cancer incidences. For instance, according to Union for International Cancer Control (UICC), the IARC's 2022 study shows 20 million new cancer cases and 9.7 million deaths worldwide, with lung and breast cancer being the most common. Brachytherapy Market Statistics The worldwide brachytherapy market is expected to generate USD 912.5 million in 2023, with a CAGR of 7.8% from 2024 to 2032 North America is the market leader, with USD 410.6 million in revenue in 2023 Asia-Pacific is expected to rise at an excellent CAGR of 8.6% High-dose rate (HDR) brachytherapy dominates the market with 71% share in 2023 Applicators and afterloaders account for 44% of the market Image-guided treatments is becoming more popular brachytherapy market trend Access Table Of Content: https://www.acumenresearchandconsulting.com/table-of-content/brachytherapy-market Brachytherapy Market Dynamics Technological Advancements Improving Treatment Precision and Outcomes Fuels the Brachytherapy Market Value Brachytherapy technical improvements have considerably enhanced treatment precision and outcomes, propelling the market forward. For instance, Varian Medical Systems launched the TrueBeam STx, a new brachytherapy system, in May 2023. The TrueBeam STx is a high-dose rate (HDR) brachytherapy system that use a linear accelerator to deliver large amounts of radiation to tumors. Image-guided brachytherapy and high-dose rate (HDR) technologies allow for more precise targeting of malignant tumors while sparing healthy surrounding tissue. According to the World Health Organization (WHO), cancer is one of the leading causes of morbidity and mortality worldwide, with over 70% of cancer-related deaths occurring in low- and middle-income countries. The American Cancer Society has noted that these countries are experiencing an increasing number of cancer patients who lack access to radiation therapy. This presents new opportunities for market players in these regions. Technological advancements in oncology treatment and research and development activities by key players are significant growth drivers for this market. Additionally, companies are acquiring smaller players to expand their regional reach. For example, iCAD markets the eBx system in the U.S. through its subsidiary Xoft. iCAD has stated that with over 12,000 potential installations for tomosynthesis systems in the U.S., there is a substantial future opportunity for CAD and density assessment solutions for tomosynthesis. These improvements improve patient outcomes, reduce side effects, and shorten treatment timeframes. Furthermore, advanced treatment planning capabilities and real-time monitoring guarantee that the appropriate amount is administered. As a result, these enhancements broaden the application of brachytherapy, enhancing its market value. Integration with Other Cancer Therapies for Enhanced Treatment Efficacy Offer Significant Brachytherapy Market Opportunity Integrating brachytherapy with other cancer therapies, such as chemotherapy and immunotherapy, can significantly enhance treatment efficacy. This combination allows for a more comprehensive attack on cancer cells, improving patient outcomes and potentially reducing side effects. Brachytherapy's targeted radiation minimizes damage to surrounding healthy tissues, making it a valuable adjunct to systemic treatments. Additionally, this synergy can lead to more personalized and effective treatment plans, addressing the unique needs of individual patients. Consequently, such integration presents a substantial opportunity for growth in the brachytherapy market, driven by the promise of improved therapeutic results. Brachytherapy Market Segmentation The global market for brachytherapy has been segmented into dosage type, product, and application, and region. Dosage type is classified into high-dose rate (HDR) brachytherapy and low-dose rate (LDR) brachytherapy Product are divided into seeds, applicators & afterloaders, and electronic brachytherapy Application are categorized into prostate cancer, gynaecological cancer, breast cancer, and others The brachytherapy market is geographically split into Europe, North America, Latin America, APAC, and the Middle East and Africa Brachytherapy Market Regional Outlook In terms of brachytherapy market analysis, brachytherapy is widely used in North America due to its advantages over conventional methods, being both safer and more efficient for cancer treatment. Recent healthcare reforms in the U.S. have improved access and coverage for the population, aiming to increase the efficiency of the healthcare system. In Canada, Health Canada ensures the safety of medical devices and verifies the details of medical devices provided by manufacturers. Health Canada has established the Canadian Patient Safety Institute (CPSI) to ensure patient safety. Additionally, the Canadian Nuclear Safety Commission (CNSC) ensures that the radiation received by patients is administered under the supervision of qualified medical professionals. The Asia-Pacific brachytherapy market is expected to witness the highest CAGR in 2024-2032. The prevalence of cancer is rising due to unhealthy lifestyles. Moreover, limited access to technologically advanced cancer treatments provides a wide scope for market players. Brachytherapy Market Players Brachytherapy companies profiled in the report include Becton, Dickinson and Company, Theragenics Corporation, CIVCO Medical Solutions, Eckert & Ziegler BEBIG, iCAD, Inc., Elekta AB, Varian Medical Systems, Inc., and Isoray Medical, Inc. 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