Global Brachytherapy Market Status and Prospect, Forecast 2018 to 2026
Brachytherapy is an advanced radioactive therapy for treatment of cancer, where ionizing radiation is used to kill cancer cells and shrink tumors. A sealed radioactive source or seed is placed next to or inside the area where treatment is required. The implant may be temporary or permanent.
Increasing incidence cases of cancer is a key factor driving growth of the global brachytherapy market. In addition, increasing adoption of brachytherapy for treatment of cancer by healthcare professionals for the treatment of prostate, womb, and cervix cancer is expected to drive growth of the global brachytherapy market.
High cost of treatment is a major factor hampering growth of the global brachytherapy market. In addition, side effects associated with radiation and other short term effects such as swelling, bruising, bleeding, or pain and discomfort at the point of radiation are other factors expected to hamper growth of the global brachytherapy market. However, technological advancements in monitoring systems such as 3D imaging technology is expected to generate new opportunities to market players operating in the global brachytherapy market over the forecast period.
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The global brachytherapy market report has been segmented on the basis of type, application, and region. On the basis of region, the global brachytherapy market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America market is a dominant player in the global brachytherapy market and accounts for largest market share in terms of revenue as compared to that of markets in other regions. This is attributed to well-developed healthcare industry, and presence of leading brachytherapy treatment providers. The market in Europe accounts for the second largest revenue share contribution to the global brachytherapy market followed by markets in Asia Pacific, Latin America and Middle East & Africa respectively. The market in Asia Pacific is projected to have the fastest growth in terms of revenue, owing to increase in number of patients suffering from cancers related to womb, prostate, etc., and rising government initiatives for the improvement of healthcare facilities in the region.
Prominent market in the global brachytherapy market are Modus Medical Devices Inc., Varian Medical Systems, Inc., Eckert & Ziegler BEBIG GmbH, C. R. Bard, Inc., Argon Medical Devices, Inc., Elekta AB (publ), IsoRay Medical, Inc., IsoAid, L.L.C., Theragenics Corporation, and Medical Instruments Co., Inc.
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