Brachytherapy Devices Market Share, Trends, and Size | 2030
[Research Report] The brachytherapy devices market is expected to grow from US$ 310.96 million in 2022 to US$ 501.75 million by 2030; it is estimated to register a CAGR of 6.2% from 2022 to 2030.
Analyst Viewpoint
Brachytherapy, also known as internal radiation therapy (IRT), involves inserting radioactive devices such as seeds, ribbons, wires, needles, capsules, balloons, or tubes near tumors to deliver high doses of radiation. This treatment is effective in eliminating and shrinking tumors. Brachytherapy is distinct from other forms of radiation therapy because it allows for administering higher doses of radiation while minimizing damage to surrounding organs. The growing prevalence of cancers is a major factor augmenting the brachytherapy devices market growth. Additionally, technological advancements and the rise in the adoption of IRTs for cancer management are contributing to the market growth. However, risks associated with brachytherapy and a lack of skilled technicians hamper the market growth.
Market Insights
The increasing prevalence of cancers, including breast cancer, prostate cancer, and cervical cancer, propels the brachytherapy devices market size. According to the statistics published by the World Health Organization (WHO) in February 2024, ~ 20 million new cases of cancer and 9.7 million deaths were reported globally in 2022. Among these cases, breast cancer is the most common type of cancer, with 2.3 million cases diagnosed in women. In addition, prostate and colorectal cancers are the second and third most commonly occurring cancers in men. Brachytherapy devices are frequently used to treat gynecologic, prostate, breast, and other types of cancer effectively. These devices include wires, seeds, or rods filled with radioactive materials implanted near the tumor to treat it by emitting radiation for a specified distance.
Moreover, brachytherapy is less time-consuming and has fewer side effects than other radiation therapies. According to an article published by Elsevier in June 2023, the study aimed to compare the results of brachytherapy over external beam radiation therapy (EBRT) by collecting a large multi-institutional database, concluded that the use of brachytherapy devices has been linked with improved survival rates and a reduced incidence of distant cancer metastases as compared to EBRT. This finding is significant and could encourage the adoption of brachytherapy as a cost-effective and efficient treatment option for patients who have intermediate- to high-risk prostate cancer.
Therefore, as the prevalence of cancer continues to rise globally, the demand for brachytherapy as a widely accessible treatment option contributes significantly to boosting brachytherapy devices market growth.
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Brachytherapy Devices Market: Strategic Insights
Market Size Value in US$ 310.96 million in 2022 Market Size Value by US$ 501.75 million by 2030 Growth rate CAGR of 6.2% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Brachytherapy Devices Market: Strategic Insights
| Market Size Value in | US$ 310.96 million in 2022 |
| Market Size Value by | US$ 501.75 million by 2030 |
| Growth rate | CAGR of 6.2% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Report Segmentation and Scope
The “brachytherapy devices market analysis” has been carried out by considering the following segments: product type, type, application and end user.
The market, by product type, is segmented seeds, brachytherapy afterloaders and applicators, and electronic brachytherapy. Bytype, the market is bifurcated into high-dose rate brachytherapy implant and low-dose rate brachytherapy implant. The market, by application, is segmented into breast cancer, cervical cancer, prostate cancer, lung cancer, and others.
The market, by end user, is segmented into hospitals and specialty clinics, ambulatory surgical centers, and others.
The scope of the global brachytherapy devices market report entails North America (the US, Canada, and Mexico), Europe (Germany, France, Italy, the UK, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
Product Type-Based Insights
Based on product type, the brachytherapy devices market is segmented into seeds, brachytherapy afterloaders and applicators, and electronic brachytherapy. The brachytherapy afterloaders and applicators segment held the largest market share in 2022 and is anticipated to register the highest CAGR during 2022–2030.
Type-Based Insights
The market, by type, is bifurcated into high-dose brachytherapy implant and low-dose rate brachytherapy implant. The low-dose rate brachytherapy implant segment held a larger brachytherapy devices market share in 2022 and is anticipated to grow at a faster CAGR from 2022 to 2030.
Application-Based Insights
The brachytherapy devices market, by application, is segmented into breast cancer, cervical cancer, prostate cancer, lung cancer, and others. The prostate cancer segment held the largest market share in 2022 and is anticipated to register the highest CAGR during 2022–2030.
End User-Based Insights
Based on end user, the market is segmented into hospitals and specialty clinics, ambulatory surgical centers, and others. The hospitals segment held the largest market share in 2022. This can be attributed to the availability of better facilities and skilled physicians in hospitals over other surgical centers to perform minimally invasive procedures.
Regional Analysis
Based on geography, the market is segmented into North America, Asia Pacific, Europe, the Middle East & Africa, and South & Central America. In terms of revenue, North America dominated the brachytherapy devices market share in 2022. The brachytherapy devices market in this region is dominated by the US. This can be attributed to various factors, including the increasing cases of breast cancer among women and prostate cancer among men in the region. According to the Pan America Health Organization (PAHO), in 2020, an estimated 4 million people in the Americas were diagnosed with cancer, which is predicted to increase by ~60% by 2040.
Additionally, the presence of market players, including BD, Isoray Inc., and Elekta, and the availability of advanced brachytherapy devices present a sizable opportunity for the market expansion. For instance, in July 2021, GenesisCare expanded its brachytherapy service by procuring 27 Flexitron brachytherapy afterloader systems and service agreements from Elekta. These advanced cancer treatment devices enabled GenesisCare to keep up with the latest technology and provide high-quality care to its patients across their centers in the US.
Brachytherapy Devices Market Report Scope
Industry Developments and Future Opportunities:
The brachytherapy devices market forecast can help stakeholders in this marketplace plan their growth strategies. As per company press releases, a few strategic developments by leading players operating in the global market are listed below:
- In October 2023, Elekta announced acquisition of the Xoft business from iCAD, Inc. through an asset acquisition. By acquiring the Xoft Axxent Electronic Brachytherapy (eBx) System, along with the transfer of employees, the company aims to provide an expanded range of cancer treatment options and electronic brachytherapy technology.
- As per the press release in July 2023, CIVCO Radiotherapy announced its partnership with Qfix, a company that provides devices for positioning and immobilizing patients, during the American Society for Radiation Oncology (ASTRO) Annual Meeting held from October 23–26, 2022 in San Antonio, Texas.
- In July 2022, BEBIG Medical acquired Wolf-Medizintechnik GmbH (WOmed), a German company that supplies cutting-edge X-ray therapy and newly developed intraoperative radiation therapy products to the global market. The acquisition aimed to expand BEBIG Medical's product portfolio in radiation therapy for cancer treatment.
- In December 2020, Varian Medical Systems, Inc, launched four new brachytherapy applicator sets for HDR brachytherapy of vagina, cervix, uterus, endometrium, and rectum. The new suite of applicators is designed to address issues of applicator size, ease of use, and MRI imaging support. This new addition is made more user-friendly and comfortable for patients, allowing clinicians to treat more patients on an outpatient basis.
Elekta; Varian Medical Systems, Inc.; BEBIG Medical; Theragenics Corporation; IsoAid; Siemens Healthineers AG; BXTA; BD; Eckert and Ziegler; and Perspective Therapeutics are some of the key companies profiled in the brachytherapy devices market report. These leading players focus on expanding and diversifying their market presence and clientele, tapping business opportunities in the market.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, Type, Application, End User, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The brachytherapy therapy devices market, by application, is segmented into breast cancer, cervical cancer, prostate cancer, lung cancer, and others. The prostate cancer segment held the largest market share in 2022 and is anticipated to register the highest CAGR during 2022–2030.
The brachytherapy therapy devices market, by product type, is segmented into seeds, brachytherapy afterloaders and applicators, and electronic brachytherapy. The brachytherapy afterloaders and applicators segment held the largest market share in 2022 and is anticipated to register the highest CAGR during 2022–2030.
The brachytherapy therapy devices market is expected to be valued at US$ 501.75 million in 2030.
The brachytherapy therapy devices market was valued at US$ 310.96 million in 2022.
Key factors driving the brachytherapy therapy devices market growth include the growing prevalence of cancer, and technological advancements.
The brachytherapy therapy devices market majorly consists of the players such as Elekta; Varian Medical Systems, Inc.; BEBIG Medical; Theragenics Corporation; IsoAid; Siemens Healthineers AG; BXTA; BD; Eckert and Ziegler; and Perspective Therapeutics.
Brachytherapy devices such as seeds, ribbons, wires, needles, capsules, balloons, or tubes are used either inside the target volume or near the tumors to deliver high doses of radiation for the treatment of cancer and other benign disorders. Depending on the duration of radioactive sources left in place, brachytherapy can be provided by either high-dose rate (HDR) or low-dose rate (LDR) procedures.
1. Introduction
1.1 Scope of the Study
1.2 Market Definition, Assumptions and Limitations
1.3 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness Analysis
3. Research Methodology
4. Brachytherapy Devices Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. Brachytherapy Devices Market - Key Market Dynamics
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. Brachytherapy Devices Market - Global Market Analysis
6.1 Brachytherapy Devices - Global Market Overview
6.2 Brachytherapy Devices - Global Market and Forecast to 2031
7. Brachytherapy Devices Market – Revenue Analysis (USD Million) – By Product Type, 2021-2031
7.1 Overview
7.2 Seeds
7.3 Brachytherapy Afterloaders and Applicators
7.4 Electronic Brachytherapy
8. Brachytherapy Devices Market – Revenue Analysis (USD Million) – By Type, 2021-2031
8.1 Overview
8.2 High Dose Rate Brachytherapy Implants
8.3 Low Dose Rate Brachytherapy Implants
9. Brachytherapy Devices Market – Revenue Analysis (USD Million) – By Application, 2021-2031
9.1 Overview
9.2 Breast Cancer
9.3 Cervical Cancer
9.4 Prostate Cancer
9.5 Lung Cancer
9.6 Others
10. Brachytherapy Devices Market – Revenue Analysis (USD Million) – By End User, 2021-2031
10.1 Overview
10.2 Hospital and Specialty Clinics
10.3 Ambulatory Surgical Centers
10.4 Others
11. Brachytherapy Devices Market - Revenue Analysis (USD Million), 2021-2031 – Geographical Analysis
11.1 North America
11.1.1 North America Brachytherapy Devices Market Overview
11.1.2 North America Brachytherapy Devices Market Revenue and Forecasts to 2031
11.1.3 North America Brachytherapy Devices Market Revenue and Forecasts and Analysis - By Product Type
11.1.4 North America Brachytherapy Devices Market Revenue and Forecasts and Analysis - By Type
11.1.5 North America Brachytherapy Devices Market Revenue and Forecasts and Analysis - By Application
11.1.6 North America Brachytherapy Devices Market Revenue and Forecasts and Analysis - By End User
11.1.7 North America Brachytherapy Devices Market Revenue and Forecasts and Analysis - By Countries
11.1.7.1 United States Brachytherapy Devices Market
11.1.7.1.1 United States Brachytherapy Devices Market, by Product Type
11.1.7.1.2 United States Brachytherapy Devices Market, by Type
11.1.7.1.3 United States Brachytherapy Devices Market, by Application
11.1.7.1.4 United States Brachytherapy Devices Market, by End User
11.1.7.2 Canada Brachytherapy Devices Market
11.1.7.2.1 Canada Brachytherapy Devices Market, by Product Type
11.1.7.2.2 Canada Brachytherapy Devices Market, by Type
11.1.7.2.3 Canada Brachytherapy Devices Market, by Application
11.1.7.2.4 Canada Brachytherapy Devices Market, by End User
11.1.7.3 Mexico Brachytherapy Devices Market
11.1.7.3.1 Mexico Brachytherapy Devices Market, by Product Type
11.1.7.3.2 Mexico Brachytherapy Devices Market, by Type
11.1.7.3.3 Mexico Brachytherapy Devices Market, by Application
11.1.7.3.4 Mexico Brachytherapy Devices Market, by End User
Note - Similar analysis would be provided for below mentioned regions/countries
11.2 Europe
11.2.1 Germany
11.2.2 France
11.2.3 Italy
11.2.4 Spain
11.2.5 United Kingdom
11.2.6 Rest of Europe
11.3 Asia-Pacific
11.3.1 Australia
11.3.2 China
11.3.3 India
11.3.4 Japan
11.3.5 South Korea
11.3.6 Rest of Asia-Pacific
11.4 Middle East and Africa
11.4.1 South Africa
11.4.2 Saudi Arabia
11.4.3 U.A.E
11.4.4 Rest of Middle East and Africa
11.5 South and Central America
11.5.1 Brazil
11.5.2 Argentina
11.5.3 Rest of South and Central America
12. Industry Landscape
12.1 Mergers and Acquisitions
12.2 Agreements, Collaborations, Joint Ventures
12.3 New Product Launches
12.4 Expansions and Other Strategic Developments
13. Competitive Landscape
13.1 Heat Map Analysis by Key Players
13.2 Company Positioning and Concentration
14. Brachytherapy Devices Market - Key Company Profiles
14.1 Elekta
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
Note - Similar information would be provided for below list of companies
14.2 Varian Medical Systems, Inc
14.3 BEBIG Medical
14.4 Theragenics Corporation
14.5 IsoAid
14.6 Siemens Healthineers AG
14.7 BXTA
14.8 BD
14.9 Eckert and Ziegler
14.10 Perspective Therapeutics
15. Appendix
15.1 Glossary
15.2 About The Insight Partners
15.3 Market Intelligence Cloud
The List of Companies - Brachytherapy Devices Market
- Elekta
- Varian Medical Systems, Inc.
- BEBIG Medical
- Theragenics Corporation
- IsoAid
- Siemens Healthineers AG
- BXTA
- BD
- Eckert and Ziegler
- Perspective Therapeutics
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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