Brachytherapy help physicians to treat cancers such as prostate, gynecological, breast, and other cancers close to the surface of the body with precision. Brachytherapy involves placing radioactive sources directly inside or next to the cancer treatment area, enabling delivery of higher radiation doses to cancer tissue while minimizing exposure to surrounding healthy tissues.
The global brachytherapy market is estimated to be valued at US$ 972.21 Mn in 2023 and is expected to exhibit a CAGR of 19% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growth Accelerated by emerging applications of brachytherapy in tumor treatment is one of the key trends being witnessed in the global brachytherapy market. Developments in brachytherapy devices such as use of magnetic resonance imaging (MRI) technology enables the continuous visualization of radioisotope location for precise cancer treatment and reduces harm to surrounding healthy tissues. These advancements are increasing applications of brachytherapy in treatment of newly diagnosed cancers as well as recurrent cancers, thereby propelling growth of the global brachytherapy market. The market is expected to exhibit lucrative growth opportunities over the forecast period driven by these technological advancements and increasing adoption of brachytherapy in emerging economies.
Segment Analysis
The global brachytherapy market is dominated by breast cancer brachytherapy segment. Breast cancer brachytherapy held the largest share of the market in 2021 owing to the increasing rate of breast cancer incidence globally and rise in awareness about effective brachytherapy for breast cancer treatment. Brachytherapy offers localized and targeted radiation therapy to breast cancer patients with minimum collateral damage.
Key Takeaways
The global brachytherapy market analysis is expected to witness high growth over the forecast period of 2023 to 2030 supported by increasing adoption of minimally invasive cancer treatment techniques. The global brachytherapy market is estimated to be valued at US$ 972.21 Mn in 2023 and is expected to exhibit a CAGR of 19% over the forecast period 2023 to 2030.
Regional analysis North America accounted for the largest share of the brachytherapy market in 2024 due to presence of advanced medical infrastructure and supportive reimbursement policies in the region. Growing aged population who are at high risk of cancer is also fueling the demand for brachytherapy in North America.
Key players operating in the brachytherapy market are Varian Medical Systems; Elekta AB; Becton, Dickinson and Company; IsoRay, Inc.; Eckert & Ziegler BEBIG. Varian Medical Systems held the largest share of brachytherapy market due to its diverse product portfolio and strong geographic presence across major markets. Elekta AB is also one of the leading players offering novel brachytherapy solutions such as GammaMed plus HDR
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