Brachytherapy Market Estimated At USD 1.4 Billion By 2028


 San Francisco, 9 Dec 2021: The Report Brachytherapy Market Size, Share & Trends Analysis Report By Product (Seeds, Applicators & Afterloaders, Electronic Brachytherapy), By Dosage Type, By Application (Prostate, Gynecological & Breast Cancer), And Segment Forecasts, 2021 - 2028

The global brachytherapy market size is expected to reach USD 1.4 billion by 2028, according to a new study by Grand View Research Inc. The market is expected to expand at a CAGR of 7.1% from 2021 to 2028. The growth of the market is largely attributable to the rising prevalence of cancer, technology advancements, and increasing investment in R&D by major players.

According to the International Agency for Research on Cancer, the global incidence of cancer is expected to rise to 24.6 million by 2030, from 19.3 million in 2020. This is expected to be a major factor driving the growth of the market. Additionally, technological advancements and favorable reimbursement scenarios, particularly in the developed countries, are expected to drive market growth.

However, the lack of access to technologically advanced systems particularly in developing nations, and the lack of skilled radiotherapy professionals are expected to restraint market growth. Around 70% of the cancer-related deaths occur in low-and-middle-income countries; however, only 3-4% of the radiotherapy needs of the population in these countries are met. This represents significant opportunities for investment for the key market players.

New product launch is one of the key strategies adopted by the leading companies. For instance, in July 2018, IsoRay received FDA clearance for GammaTile Therapy for the treatment of recurrent brain neoplasms. The launch of such technologically advanced products is further expected to propel growth.

Access Research Report of Brachytherapy Market @ https://www.grandviewresearch.com/industry-analysis/brachytherapy-devices-market

Brachytherapy Market Report Highlights

  • The HDR segment held the largest revenue share in 2020. The various advantages of HDR internal radiation therapy such as short procedure time, protection from radiation exposure, and higher efficacy are key factors contributing to the dominance of this segment
  • The electronic brachytherapy segment is expected to witness the fastest CAGR over the forecast period owing to advantages such as minimal exposure of treating staff to radiation, low dose radiation to organ at risk, and no radioactive waste
  • Prostate cancer accounted for the largest revenue share of more than 32.0% in 2020. The promising applications of internal radiation therapy in the treatment of prostate cancer is a major factor for the dominance of this segment
  • In terms of revenue, North America accounted for the largest revenue share of 45.0% in 2020. According to IAEA’s Directory of Radiotherapy Centres (DIRAC), as of 2020, the U.S. alone has around 766 brachytherapy systems

List of Key Players of Brachytherapy Market

  • Varian Medical Systems, Inc.
  • Becton Dickinson & Company
  • Elekta AB
  • Isoray Medical, Inc.
  • Eckert & Ziegler BEBIG
  • iCAD, Inc.
  • CIVCO Medical Solutions
  • Theragenics Corporation

Access Press Release of Brachytherapy Market @ https://www.grandviewresearch.com/press-release/global-brachytherapy-market

 

Comments

Post a Comment

Popular posts from this blog

U.K. Point Of Sale Software Market To Expand Industry Growth At USD 1.05 Billion By 2028

Image
  San Francisco, 21 Jan 2022:   The Report  U.K. Point Of Sale Software Market  Size, Share & Trends Analysis Report By Application (Fixed POS, Mobile POS), By Deployment, By Organization Size, By End-user, And Segment Forecasts, 2021 - 2028 The global U.K. point of sale software market size is expected to reach USD 1.05 billion by 2028, expanding at a CAGR of 8.1% from 2021 to 2028, according to the new study conducted by Grand View Research, Inc. The integration of a Point-Of-Sale (POS) solution with capabilities such as sales reports monitoring, cash flow recording, product demand analysis, tracking delivery status, and inventory management ensure systematic functioning and upscaling of a business. The adoption of POS software is directly impacted by the demand for POS terminals, which is witnessing growth in demand due to changing lifestyles and government policies. However, the COVID-19 pandemic disrupted the industry's business, wherein ...
Read more

Gas Detection Equipment Market Anticipated To Expand At A CAGR 9.7% From 2021 To 2028

  San Francisco, 5 May 2021:   The Report  Gas Detection Equipment Market  Size, Share & Trends Analysis Report By Product, By Technology (Infrared, Catalytic, PID), By End-use, By Region, And Segment Forecasts, 2021 - 2028 The global gas detection equipment market size is expected to reach USD 8.38 billion by 2028, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 9.7% from 2021 to 2028. The market growth can be attributed to the growing awareness among governments regarding the harmful effects of greenhouse gases, coupled with their increased efforts toward protecting the environment. Major industries such as petroleum, oil, and gas, among others are needed to comply with safety and environmental regulations which are also major factors driving the market growth. Many companies are focused on introducing drone-based gas detection equipment, which is expected to create new opportunities for market growth in...
Read more