Advantages include reduced treatment period and less damage to surrounding healthy tissues compared to external beam radiation therapy. The global Brachytherapy Market is estimated to be valued at US$ 972.21 Mn in 2024and is expected to exhibit a CAGR of 19.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
New product launches by key players with technologically advanced features is one of the main drivers propelling growth of the brachytherapy market. In 2022, Varian Medical Systems and Elekta AB announced the launch of new brachytherapy afterloaders and treatment planning systems such as VariSeed 8.0 by Varian and Brachytherapy Planning system by Elekta. These new systems provide advanced treatment delivery that improve dose conformity to target areas while sparing surrounding healthy tissues. They feature improved image guided brachytherapy and three dimensional conformal brachytherapy treatment capabilities that offer precise, targeted and effective radiation delivery. This has accelerated adoption of brachytherapy and positively impacted the market growth.
Segment Analysis
Brachytherapy Market is segmented into by Type and Application. The Prostate Cancer dominated the segment and held the largest market share in 2022. Prostate brachytherapy, also called prostate seed implantation, is a procedure that precisely places radioactive seeds inside the prostate gland using thin, hollow needles. It allows for treatment with minimal damage to healthy tissues and offers effective painless option for treating prostate cancer.
Key Takeaways
The Global Brachytherapy Market Scope is expected to witness high over the forecast period of 2023 to 2030.
Regional analysis: North America held the largest share of the global brachytherapy market in 2022. Factors such as rising prevalence of cancer, growing geriatric population, and availability of advanced treatment options are driving the market in the region.
Key players: Key players operating in the brachytherapy market are Varian Medical Systems, Elekta AB, Becton, Dickinson and Company, IsoRay, Inc., Eckert & Ziegler BEBIG. Varian Medical Systems offers brachytherapy solutions and devices such as Varian GammaMed plus HDR afterloader, VariSeed brachytherapy seed handling device and accessories. Elekta AB provides brachytherapy systems and treatment planning software such as Eeze-I plan, Flexitron afterloader and MicroSelectron HDR brachytherapy system to treat different types of cancers.
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