Global Brachytherapy Market Is Predicted to Propel Owing to Growing Awareness: Ken Research

According to the report analysis, ‘Global Brachytherapy Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use’ states that Eckert & Ziegler BEBIG, IsoRay Medical, Inc., Elekta AB (pub), Theragenics Corporation, C.R. Bard, Inc., CIVCO Medical Solutions, Huiheng Medical, Inc., Sun Nuclear Corporation, iCAD, Inc., Varian Medical Systems, Inc and many more are the foremost companies which presently operating in the global brachytherapy market more proficiently for keep maintaining the governing position, generating the highest percentage of revenue, obtaining the competitive edge, ruling around the globe and leading the highest market growth by spreading the awareness connected to the applications and advantages of brachytherapy, analysing the strategies and policies of government as well as contenders, establishing the several research and development programs, increasing the features and benefits of brachytherapy, implementing the policies of profit making and strategies of expansion, improving the qualitative and quantitative measures of such and delivering the better customer satisfaction.

The effective growth in prevalence of cancer, technological innovations, and a significant growth in the adoption of brachytherapy are projected to drive the growth of the market throughout the forecast period. Brachytherapy is a type of radiation therapy utilized for the treatment of cancer. The radioactive materials are placed inside the body with the assistance of catheters. Radiation therapy can be utilied for prophylactic, palliative, or curative treatment.

It can also be utilized as monotherapy or as an adjuvant with surgery, immunotherapy, and chemotherapy. The broad range of applications of radiotherapy has augmented its implementation by physicians. The latest innovations in radiation therapy enable the delivery of a high amount of dose to the target area with minimum impairment to nearby healthy tissues. This has augmented the chances of localized tumor control and has advanced cure rates, leading to an increment in requirement for radiation therapy.

In addition, some of the foremost players have been present in the market for years. They already have a well-established network of suppliers and customers, which assistances in strengthening their market position. Additionally, some of the foremost companies also function in other business domains. Hence, most often they are capable to invest enormous amounts for R&D activities.

North America registered the brachytherapy market and controlled the largest revenue share in the recent years. Brachytherapy is broadly used in North America owing to the benefits it offers over traditional approaches as it is a comparatively safer and proficient cancer treatment. Europe registered for a share in 2020. The utilization of brachytherapy in the European region has been growing over the last 5 years.

In Asia Pacific, the market is poised to observe the greatest CAGR throughout the forecast. The region accounts the world population and half the global burden of cancer. The pervasiveness of cancer is growing pertaining to an unhealthy lifestyle. In addition, restricted access to technologically advanced cancer treatments offers several opportunities for the market players. Therefore, it is predicted that during the review duration the market of brachytherapy will increase around the globe over the near future.

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Global Brachytherapy Market

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Brachytherapy, also well-known as internal radiation therapy, is a type of radiotherapy in which radiation is conveyed directly to a cancerous tumour in the body via a source placed close or next to it. The source produces gamma rays that target cancer cells while decreasing harm to healthy tissue nearby. Relying on the severity of the disease and its damage, brachytherapy is provided at a Low Dose Rate (LDR) or a High Dose Rate (HDR). Small radioactive seeds are enduringly implanted in or around the tumor in LDR, whereas radioactive sources are unconcerned from the patient's body at the end of each session in HDR, which is used in high-risk tumors.

According to the report analysis, ‘Brachytherapy Market Size & Share to Record New Values for the Forecast Period 2020-2030’ states that brachytherapy has been presented to be an exceptionally successful treatment choice for cervical, skin, and breast cancers, which is propelling market expansion. Furthermore, the accessibility of high-quality brachytherapy equipment that conveys precise and very localized radiation doses to tiny tumors has augmented the patient and medical professional reception of the therapy.

Growing medical tourism across the world, as well as augmented the knowledge of the benefits of brachytherapy, its cost-effectiveness, and greater cure rate when linked to surgery or external beam treatment (EBT), is influencing the industry forward.

The effective growth in prevalence of dissimilar types of cancer is one of the key aspects driving the global market. Brachytherapy has been proven to be a tremendously effective treatment choice for cervical, skin and breast cancers, which is underwriting significantly to its market growth.

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Furthermore, the obtainability of high-quality brachytherapy equipment that deliver the accurate and extremely localized doses of radiation to small tumors has improved the acceptance of the therapy amongst patients and medical professionals alike. Technological innovations in oncology treatments and extensive research and development (R&D), such as trials for treating neovascular age-related macular degeneration, have also delivered a significant boost to the market growth. In addition to this, augmenting the medical tourism across the globe, along with growing awareness about the benefits of brachytherapy and its cost-effectiveness and augmenting the cure rate as compared to surgery or external beam therapy (EBT), is also progressively propelling the market.

It is predicted that North America registers the market owing to the augmenting the incidences of cancer and early implementation of new technologies. The United States holds the majority of the market in the North American region owing to great patient pool and well-developed infrastructure. However, Asia Pacific is projected to augment at a faster rate due to the augmenting awareness concerning advanced treatment options, and the existence of emerging economies in this region. The emerging countries such as India and China are majorly aiming to enhance their healthcare infrastructure in both urban and rural areas, that will boost the complete healthcare facility in the region. Therefore, it is predicted that during the near period the market of brachytherapy will increase around the globe more progressively over the review period.

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Global Brachytherapy Market Analysis

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(COVID Version) Global Brachytherapy Equipment Market Status (2016-2020) and Forecast (2021E-2026F) by Region, Product Type & End-Use

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Ken Research

Ankur Gupta, Head Marketing & Communications

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