Brachytherapy Market Growth Accelerated by Increased Application of Brachytherapy for Cancer Treatment

Brachytherapy or internal radiation therapy is a type of radiotherapy where a sealed radioactive source is placed inside or next to the area requiring treatment. Brachytherapy offers advantages such as precise delivery of radiation doses to cancerous tissues with minimal exposure to surrounding healthy tissues. It is commonly used in treating cancers of prostate, breast, cervix, and other internal organs. The global brachytherapy market is estimated to be valued at US$ 972.21 Mn in 2023 and 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:

The increased application of brachytherapy for treating cancerous tumors in tissues such as breast and prostate is expected to drive the growth of brachytherapy market over the forecast period. Brachytherapy offers several advantages over conventional external beam radiation therapy as it allows delivery of higher and more concentrated doses of radiation to cancerous tissues while limiting the radiation exposure to surrounding healthy tissues. With the rising prevalence of cancer worldwide, brachytherapy is gaining increased acceptance among patients and healthcare providers as an effective treatment option with minimal side effects. The technological advancements in brachytherapy such as high dose rate brachytherapy and 3D imaging guided brachytherapy are further supporting the market growth.

Segment Analysis

The global brachytherapy market size is dominated by the breast cancer sub-segment. This subsegment currently holds more than 24.21% market share due to high prevalence of breast cancer worldwide. Brachytherapy is largely used treatment for early stage breast cancer patients due to its highly focused, targeted and localized dose delivery to the affected area with minimal damage to surrounding tissues.

Key Takeaways
The global brachytherapy market is expected to witness high growth over the forecast period.

Regional analysis: North America currently holds the largest share of brachytherapy market owing to supportive reimbursement policies and strong presence of key industry players in the region. Moreover, growing adoption of novel technologies and awareness regarding cancer treatment options contribute to market growth in the region. Asia Pacific is expected to exhibit fastest growth rate over the forecast period on account of increasing cancer burden, rising healthcare expenditure and growing medical tourism in the region.

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 holds leading market position with wide portfolio of brachytherapy solutions including GammaMed High Dose Rate (HDR) and Microselectron HDR brachytherapy systems. Elekta AB offers brachytherapy solutions such as GammaMed plus HDR and Flexitron afterloader systems.

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