Brachytherapy Market is estimated to be US$ 1415.8 million by 2030 with a CAGR of 7.50% during the forecasted period.

Brachytherapy market accounted for US$ 688.5 million in 2020 and is estimated to be US$ 1415.8 million by 2030 and is anticipated to register a CAGR of 7.50%.The report. "Global Brachytherapy Market, By Technique (High Dose Rate (HDR) Brachytherapy, Low Dose Rate (LDR) Brachytherapy, Pulse Dose Rate (PDR) Brachytherapy, and Image Guided Brachytherapy (IGBT)), By Application (Prostate Cancer, Breast Cancer, Gynecological Cancer, Cervical Cancer, Skin Cancer, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”.

Key highlights:

·         In July 2017, Boston Scientific Corporation acquired Cosman Medical, Inc., a manufacturer of RF ablation systems. This acquisition expanded the Boston Scientific’s portfolio with systems such as Spinal Cord Stimulator and Deep Brain Stimulation Systems.

·         In April 2016, Abbott Laboratories and St. Jude Medical, Inc. entered into a merger contract. As per the agreement Abbott will acquire St. Jude Medical by end of the 2016. This acquisition is expected to enhance the global presence and capabilities of both the companies and diversify their product offerings in the medical devices industry. However, the merger will create the industry-leading product pipeline and top position in the industry, due to combined product portfolio.

Analyst View:

As per to the World Health Organization (WHO), cancer is one of the foremost causes of morbidity and mortality worldwide. In low- and middle-income countries, about 70% of cancer-related deaths occur. The American Cancer Society reported that these countries have a growing number of cancer patients and they lack radiation therapy access. This factor is projected to provide innovative opportunities to the existing market players in these regions.

R&D initiatives adopted by the key players and technological developments in the field of oncology treatment are some of the major growth boosting growth of the target market. Moreover, the key players are opting for acquisitions of smaller players to expand their regional presence. For example, in U.S., iCAD markets the eBx system through its subsidiary Xoft. iCAD quantified with over 12,000 installation opportunities for tomosynthesis systems in U.S., there is a significant opportunity for CAD in future and density assessment solutions for tomosynthesis.

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Key Market Insights from the report:        

The global Brachytherapy market accounted for US$ 688.5 million in 2020 and is estimated to be US$ 1415.8 million by 2030 and is anticipated to register a CAGR of 7.50%. The market report has been segmented on the basis of technique, application, and region.

·         By technique, the HDR Brachytherapy accounted for 56% of market share due to reduced toxicity of radiation in the tumors and more patient preference

·         By application, prostate cancer estimated the largest market share in 2017 owing to the likely applications of brachytherapy in cancer treatment. Moreover, breast cancer brachytherapy treatment is projected to register the fastest CAGR rate in the coming years owing to growing prevalence across the globe.

·         By region, North America accounted for the highest market share in 2017. Brachytherapy is extensively used in North America owing to benefits it offers over traditional methods as it is comparatively efficient and safer cancer treatment. As per American Cancer Society, in 2018, above 2 million new cancer cases will be analyzed in U.S.

Competitive Landscape:

The prominent player operating in the global brachytherapy market includes Modus Medical Devices Inc., Varian Medical Systems, Inc., Eckert & Ziegler BEBIG GmbH, R. Bard, Inc., Argon Medical Devices, Inc., Elekta AB (publ), IsoRay Medical, Inc., IsoAid, L.L.C., Theragenics Corporation, and Medical Instruments Co., Inc.

The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.

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