The Global Market for Brachytherapy is Projected to Reach US$478 Million by 2024

Supported by Superior Clinical Outcomes, the Growing Number of Brachytherapy Procedures to Benefit Demand for Brachytherapy Devices, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market size, share and demand forecasts on the global Brachytherapy market. The global market for Brachytherapy is projected to reach US$478 million by 2024, driven by growing cancer incidence, growing clinical evidence indicating better cancer control in select cases, and technological advances.

Brachytherapy, a form of radiation therapy, continues to sustain on the back of more effective cancer control and high survival rate benefits, despite emergence and wider adoption of alternative radiation therapies such as external beam radiotherapy (EBRT). Also called internal radiation therapy, brachytherapy is a cancer treatment technique where radiation is placed in or close to targeted tumor or treatment site. Cancer continues to remain a major health concern worldwide, with incidence, prevalence and mortality from various types of cancer rising each year. While demand for therapies used in cancer treatment is increasing, lack of curative therapeutic options is driving demand for therapies that can extend survival.

A major benefit of brachytherapy is that it allows achievement of high doses of radiation for the tumor while minimizing exposure of surrounding areas to the radiation. Shorter treatment times, lower complications, faster recovery, and less cumbersome equipment work in favor of this therapy. Growing cases of cancers worldwide, lower costs, mounting evidence in favor of brachytherapy from research and technological advances are driving demand for brachytherapy. Primarily used in the treatment of prostate and gynecological cancers, brachytherapy finds use in treating certain other cancers such as breast and skin cancers. Ongoing research focusing on expansion of applications is also expected to foster growth in the coming years.

Despite being existence for several decades, brachytherapy is not a mainstay radiation therapy across the globe, with more advanced technologies such as [external beam radiotherapy (EBRT)] garnering higher preference. While the emergence of remote afterloading machines has helped its revival, brachytherapy is gaining importance as an effective curative management alternative in various locally advanced cancers that is driving its demand. Growing evidence that supports brachytherapy’s capability of superior disease control when used in combination with other radiation therapies as boost therapy or as standalone, instead of other standalone or combination alternative therapies such as EBTR, radical prostatectomy, and androgen deprivation, is expected to drive adoption in the coming years. Advances in imaging techniques, such as 3D CT and MR scanners, and their use in brachytherapy have allowed physicians to locate the exact shape, size, and position of the tumor precisely in the patient’s body, thereby facilitating accurate placement of the brachytherapy seeds. The emergence of 3D image guided brachytherapy has elevated the efficacy and outcomes of brachytherapy, and continues to find tremendous growth in adoption. Another major trend in the market is the shift towards HDR Brachytherapy, away from LDR brachytherapy. Advancements in technology and software have allowed doctors to accurately calculate the dose needed to treat the tumor as well as its distribution, infusing further efficacy and safety into brachytherapy thereby driving brachytherapy.

As stated by the new market research report on Brachytherapy, the U.S. represents the largest market worldwide. Availability of reimbursement for radiotherapy procedures is a key factor resulting in higher adoption of brachytherapy in the US. Supporting guidelines for brachytherapy also contribute to relatively higher adoption. However, developing economies, such as Asia-Pacific and Latin America, led by China, India, and Brazil are expected to witness increased uptake of brachytherapy treatment in the coming years. Asia-Pacific represents the fastest growing market worldwide, with a CAGR of 6.1% through the analysis period. Increase in medical tourism, growing cancer burden, healthcare infrastructure limitations and inherent benefits of the technology over alternatives are expected to drive demand for brachytherapy in the region.  

Major players in the market include Bard Medical Division, Best Medical International, Inc., Best Vascular, Inc., Boston Scientific Corporation, Carl Zeiss Meditec AG, Eckert & Ziegler Group, Elekta AB, IsoRay, Inc., Sirtex Medical Limited, Sun Nuclear Corporation, Theragenics Corporation, Varian Medical Systems, Inc. and Xoft, Inc. among others.

The research report titled “Brachytherapy: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for Brachytherapy in value terms for all major geographic markets such as United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East & Africa and Latin America (Brazil and Rest of Latin America).

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