Brachytherapy Devices Market by Technique and Geography - Forecast and Analysis 2021-2025

The brachytherapy devices market share is expected to increase by USD 327.21 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 7.01%.

This brachytherapy devices market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers brachytherapy devices market segmentations by technique (HDR and LDR) and geography (North America, Europe, Asia, and ROW). The brachytherapy devices market report also offers information on several market vendors, including Becton, Dickinson and Co., Carl Zeiss AG, CivaTech Oncology Inc., Eckert and Ziegler AG, Elekta AB, Hologic Inc., iCAD Inc., IsoRay Inc., Theragenics Corp., and Varian Medical Systems Inc. among others.

What will the Brachytherapy Devices Market Size be During the Forecast Period?

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Brachytherapy Devices Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The high prevalence and incidence of cancer is notably driving the brachytherapy devices market growth, although factors such as intense competition among vendors may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the brachytherapy devices industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Brachytherapy Devices Market Driver

The high prevalence and incidence of cancer is notably driving the brachytherapy devices market growth. Cancer changes the morphology of the human cells, as it leads to an uncontrolled division of cells. There are more than 80 types of cancer. Cancer has a major impact on the health and well-being of individuals across the globe. The increasing prevalence of cancer is driving the demand for brachytherapy devices across the world. For instance, according to a study published by the American Cancer Society, about 19.3 million new cancer cases were reported in 2020 globally, and the number is expected to increase to 23.6 million by 2030. Prostate cancer and breast cancer are some of the most common types of cancer among the population in the US. According to Isoray Inc. and the American Cancer Society, about 174,650 prostate cancer cases were estimated in 2019 in the US. Also, the growing incidence of brain tumors is also expected to contribute to the growth of the global brachytherapy devices market during the forecast period.

Key Brachytherapy Devices Market Trend

Technological advances in brachytherapy is the major trend driving the brachytherapy devices market growth. Brachytherapy is most commonly used for the treatment of cancers such as prostate, gynecological, and breast cancers. The brachytherapy technology has been developed in such a way that the high doses of radiation can be delivered to the tumor with a high degree of precision, which, in turn, minimizes the damage to the healthy tissues. The availability of modern and three-dimensional (3D) imaging modalities, which can be incorporated into treatment planning methods, is leading to the computation of full 3D dose distribution. Some systems can calculate dose distribution and update it in real-time based on the clinical situation. The electronic brachytherapy treatment technique enables the delivery of radiation doses during the same procedures as surgery in cancer treatment. Moreover, the applicators used for brachytherapy are designed in a way that they allow the use of modern 3D imaging techniques for planning. Vendors manufacturing brachytherapy products are implementing new dose calculation algorithms that are correct for applicator shielding and tissue inhomogeneities. The technology advances in brachytherapy are boosting the market growth owing to the use of 3D image-guided procedures along with the utilization of computed tomography (CT), magnetic resonance imaging (MRI), and positron emission tomography (PET), which enables control of the radiation dosage and thereby demonstrate effective clinical outcomes. 

Key Brachytherapy Devices Market Challenge

The major challenge impeding the brachytherapy devices market growth is the intense competition among vendors. The global brachytherapy devices market is highly competitive and concentrated due to the presence of a few key players holding the major market share. Major vendors in the market are Eckert & Ziegler BEBIG, Elekta, Carl Zeiss Meditec, iCAD, and Varian Medical Systems. Elekta and Varian Medical Systems have further strengthened their market position, as they also majorly control the supply of the iridium sources, which are needed while operating HDR brachytherapy systems. This makes it immensely difficult for small vendors to increase their market penetration. Also, M&As have further intensified the competition among the vendors of the global brachytherapy devices market. For instance, in December 2017, Becton, Dickinson and Co. completed the acquisition of C. R. Bard Inc. Such acquisitions further intensify the competition among the vendors of the global brachytherapy devices market during the forecast period. Moreover, leading vendors dominate the market by offering a wide range of products used in brachytherapy procedures. They also have better technical and financial resources. Hence, they are developing technologically advanced, innovative, and high-quality brachytherapy devices. The competition in the market is expected to intensify further during the forecast period due to the increase in product/service extensions, technological innovations, and an increasing number of product approvals.

This brachytherapy devices market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global brachytherapy devices market as a part of the global healthcare equipment market. T. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the brachytherapy devices market during the forecast period.

Who are the Major Brachytherapy Devices Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Becton, Dickinson and Co.
• Carl Zeiss AG
• CivaTech Oncology Inc.
• Eckert and Ziegler AG
• Elekta AB
• Hologic Inc.
• iCAD Inc.
• IsoRay Inc.
• Theragenics Corp.
• Varian Medical Systems Inc.

 

This statistical study of the brachytherapy devices market encompasses successful business strategies deployed by the key vendors. The brachytherapy devices market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• Becton, Dickinson and Co. - The company offers brachytherapy device such as FASTFILL Brachytherapy. It features ultra-sharp tips and polished surfaces for smooth entry and exit in brachytherapy procedures.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The brachytherapy devices market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Brachytherapy Devices Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the brachytherapy devices market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Brachytherapy Devices Market?

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44% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for the brachytherapy devices market in North America. Market growth in this region will be faster than the growth of the market in Europe and ROW.

The factors such as the increasing incidence of cancers, developed healthcare infrastructure, and high healthcare expenditure will facilitate the brachytherapy devices market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

However, in early 2020, the outbreak of the COVID-19 pandemic disease in the region led to the halt of operations in manufacturing facilities, regulatory approvals, and cancer treatments, which restricted the production and use of brachytherapy devices, and negatively impacted the growth of the brachytherapy devices market in the region. Restrictions on medical tourism also had a negative impact on the brachytherapy devices market, but the market is expected to grow after the pandemic is contained in the region.

What are the Revenue-generating Technique Segments in the Brachytherapy Devices Market?

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The brachytherapy devices market share growth by the HDR segment will be significant during the forecast period. The increasing demand for HDR brachytherapy among end-users is expected to drive the growth of the global HDR brachytherapy market during the forecast period. Vendors are collaborating with hospitals to increase the adoption of HDR brachytherapy.

This report provides an accurate prediction of the contribution of all the segments to the growth of the brachytherapy devices market size and actionable market insights on post COVID-19 impact on each segment.

 

Brachytherapy Devices Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 7.01%
Market growth 2021-2025	$ 327.21 million
Market structure	Concentrated
YoY growth (%)	6.60
Regional analysis	North America, Europe, Asia, and ROW
Performing market contribution	North America at 44%
Key consumer countries	US, UK, Germany, China, and Canada
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Becton, Dickinson and Co., Carl Zeiss AG, CivaTech Oncology Inc., Eckert and Ziegler AG, Elekta AB, Hologic Inc., iCAD Inc., IsoRay Inc., Theragenics Corp., and Varian Medical Systems Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Brachytherapy Devices Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive brachytherapy devices market growth during the next five years
• Precise estimation of the brachytherapy devices market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the brachytherapy devices industry across North America, Europe, Asia, and ROW
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of brachytherapy devices market vendors

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