The global brachytherapy devices market is poised for substantial growth, with projections indicating a market value of US$ 1.9 Bn by 2034. This represents a steady CAGR of 5.9% from 2024 to 2034, starting from a base of US$ 1.0 Bn in 2023. Brachytherapy, a sophisticated cancer treatment method, involves placing radioactive sources directly within or near a tumor, delivering targeted radiation to the cancerous tissue while minimizing exposure to healthy areas.
Two main approaches characterize brachytherapy: 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 proves particularly effective for treating cancers such as prostate, breast, cervical, and skin cancers due to its precision and shorter treatment time.
Brachytherapy devices are specialized medical instruments that act as radioactive sources, allowing for efficient and precise radiation delivery to tumors. The market benefits from ongoing treatment advancements, allowing for better identification of suitable candidates for low-dose rate brachytherapy and offering alternatives such as combination treatments and personalized approaches.
Major market players are actively investing in the expansion of the brachytherapy devices market. For instance, Cathay Capital’s EUR 15.0 Mn investment in BEBIG Medical in January 2024 aims to expand the reach of their linear accelerators and radiotherapy products, which include high-dose rate brachytherapy, X-Ray therapy products, and intraoperative radiation therapy devices.
Furthermore, research studies utilizing brachytherapy devices are contributing to market growth. In October 2021, Edinburgh Cancer Center announced its adoption of high-dose rate brachytherapy for treating aggressive prostate cancer, becoming one of the first cancer care centers in Scotland to offer this treatment modality.
North America holds the largest market share in 2023, a trend expected to continue throughout the forecast period. Factors driving this dominance include:
* 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)
* Rising 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
* Increasing preference for targeted therapies that minimize damage to surrounding healthy tissues
The International Agency for Research on Cancer (IARC) reported in December 2020 that the global cancer burden rose to 19.3 million new cases and 10.0 million deaths in 2020. This highlights the significant global health challenge posed by cancer. The report further indicates that 20% of the global population develops cancer during their lifetime, and 1 in 8 men and 1 in 11 women succumb to it. Notably, the 10 most common cancer types account for over 60% of new diagnoses and more than 70% of cancer deaths worldwide.
Key players in the global brachytherapy devices market include:
* Boston Scientific Corporation
* BD
* CIVCO Medical Solutions
* Cook
* BEBIG Medical GmbH
* Elekta
* Theragenics Corporation
* Varian Medical Systems, Inc.
* Icad Inc.
Recent developments in the market include Medanta Hospital in Gurugram (India) patenting its innovative MAOLO template in July 2024 for treating late-stage cervical cancer. This device addresses the need for effective treatment of large tumors (exceeding 100cc) compared to commercially available applicators that manage tumors up to 36cc.
The brachytherapy devices market is segmented by product type, dose rate, indication, and end-user:
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Product Type:
Brachytherapy Afterloaders, Brachytherapy Applicators, Intracavitary Applicators, Interstitial Applicators, 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*
