Brachytherapy Market Analysis

Global Brachytherapy Market Overview

The Brachytherapy Market Size was valued at USD 0.45 billion in 2023 and is projected to grow from USD 0.48 Billion in 2024 to USD 0.82 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.65% during the forecast period (2024 – 2032). Growth in the geriatric population and cancer prevalence is the key market driver enhancing the market growth.

In May 2023, Varian Medical Systems announced its new brachytherapy system, the TrueBeam STx. This system is a high dose rate (HDR) brachytherapy device that gives out high doses of radiation to tumors using a linear accelerator.

In May 2023, RaySearch Laboratories AB, for example, announced that the RayCare system can now successfully connect with Varian’s TrueBeam linear accelerators. An oncology information system of Raycare and this initiative result from an agreement between Varian Medical Systems and RaySearch Laboratories AB signed in 2020 for interoperability reasons.

Calypso Medical; a firm which creates and manufactures real-time tumor tracking systems involved in brachytherapy, was acquired by Elekta in April 2023. By this acquisition Elekta enhances its already existing brachytherapy solution offering.

In March 2023, TomoTherapy Hi-Art brachytherapy system was FDA-approved for prostate cancer treatment. A robotic method of therapy is also used by TomoTherapy Hi-Art System through CT scanner imaging to view the tumor and then radiating it precisely and accurately.

For instance, Asia’s first TrueBeam Identify System was launched by Medicover Hospitals during November 2022. It is also Telangana’s (an Indian state) first SGRT, making treatment more accessible for patients.

BEBIG Medical has successfully bought Wolf-Medizintechnik GmbH ("WOmed") to expand their product range in radiation therapy for treating cancer, as revealed in July 2022. WOmed, a German enterprise, specializes globally on innovative intraoperative radiation therapy solutions as well as X-ray therapies. BEBIG Medical was known as one of the leading suppliers worldwide providing advanced HDR Brachytherapy Solutions with an excellent reputation among radiotherapists around the globe.

In April 2022, iCAD reported additional patients treated within the GLIOX trial and ongoing momentum for Xoft System’s intraoperative radiation therapy for brain, rectal and head and neck tumors globally.

Blue Wolf Capital Partners LLC, a New York-based private equity company, revealed in October 2021 that it has made an agreement with Roper Technologies, Inc. to acquire CIVCO Radiation, which provides radiotherapy patient placement and immobilization technology.

Allegheny Health Network, a Highmark Health Company announced Sun Nuclear as the provider of their radiation treatment Quality Assurance solutions partner on December 2021.

Brachytherapy Market Trends

• Growth in cancer prevalence to boost the market growth

The main application of brachytherapy is in the management of cancer. For instance, the World Cancer Research Fund International reported than estimated 181 million cancer cases worldwide in 2020. Furthermore, the senior population is likelier to develop cancers like lung, breast, and prostate cancer. As an illustration, the U.S. S. According to Census Bureau data released in December 2021, the country's adult population over 65 numbers more than 56 million. By 2050, it may reach up to 85.7 million, according to the same source. The brachytherapy market revenue is also expected to grow as radiation therapy for cancer treatment becomes more widely used.

Radiation therapy adoption is increasing, cancer incidence is rising, and there are more hospitals, all of which contribute to expanding the market of brachytherapy. This factor is anticipated to fuel the market expansion of the brachytherapy. The market's growth is accelerated by increased cancer prevalence in developing nations. Opportunities for market expansion include the development of technologically sophisticated brachytherapy techniques for the treatment of cancer. The emerging economies of the Asia-Pacific and LAMEA regions offer market participants lucrative opportunities. Increased awareness of brachytherapy treatment and an increase in cancer cases in the Asia-Pacific region are anticipated to impact market growth during the forecast period positively. During the forecast period, growth opportunities in the market are anticipated due to the gradual adoption of brachytherapy techniques in hospitals and specialty clinics. In recent years, increased government funding for the fight against cancer in developing regions has enhanced the Brachytherapy market CAGR globally.

Brachytherapy Market Segment Insights

Brachytherapy Type Insights

The market segments of Brachytherapy, based on type, includes High dose-rate (HDR) brachytherapy, Low dose-rate (LDR) brachytherapy, and Pulse Dose Rate (PDR) brachytherapy. The Low dose-rate (LDR) brachytherapy segment held the majority share in 2022 contribution concerning the market revenue of brachytherapy. The therapy is typically outpatient for treating various cancers, including skin, cervical, prostate, head and neck, and breast. Some factors influencing this segment's dominance include short procedure times, greater efficacy, and radiation protection. Around the world, HDR after loaders progressively replaces LDR after loaders because most manufacturers no longer promise to maintain LDR systems.

Brachytherapy Device Insights

Based on the Device, the Brachytherapy market segmentation includes After loader and Applicators. The Applicators segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Brachytherapy exposes the cervix to high radiation doses while sparing nearby organs that would otherwise be exposed to such doses. Brachytherapy is a multi-step process used to treat cervical cancer. Tandem and ovoid, tandem and ring, and tandem and vaginal cylinder are traditional intracavitary applicator implants for Brachytherapy that positively impact the market growth.

Brachytherapy Application Insights

The Brachytherapy market data has been bifurcated by Application to Prostate, cervical, breast, and skin cancer. The breast cancer segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2024-2030. The rising incidence of breast cancer worldwide is largely to blame for this. For example, according to estimates from the International Agency for Research on Cancer (IARC) 2020 report, in 2020, more than any other form of cancer, about 2.3 million new cases of breast cancer were diagnosed worldwide. By 2040, the incidence of breast cancer is projected to reach about 3 million cases, and as a result, the demand for effective and advanced therapeutics is expected to rise.

Figure 1: Brachytherapy Market, by Device, 2023 & 2030 (USD Billion) Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Brachytherapy Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North America Brachytherapy market accounted for USD 0.1832 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period due to the early adoption of new technologies and rising cancer incidences. Due to its large patient population and well-developed infrastructure, the United States controls most of the North American market. For example, the IARC 2020 report states that in the North American region, there were about 2.6 million new cases of cancer. By 2040, it is predicted that there will be 3.5 million new cancer cases worldwide. As a result, market growth is predicted to be driven by increased demand for brachytherapy in the area.

Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: BRACHYTHERAPY MARKET SHARE BY REGION 2023 (%) Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's Brachytherapy market accounts for the second-largest market share. The rising elderly population and the increase in cancer prevalence drive the market for brachytherapy. Furthermore, the market for brachytherapy is expected to grow during the forecast period due to the increased use of radiotherapy. Further, the Germany market of brachytherapy held the largest market share, and the UK market of brachytherapy was the fastest-growing market in the European region.

The Asia-Pacific Brachytherapy Market is expected to grow at the fastest CAGR from 2024 to 2032. One of the key drivers of the market's growth is the rise in the geriatric population in Asia-Pacific. About 264 million (18.7 percent) of China's population, or those 60 and older, are counted in the 2020 census. Due to the availability of untapped areas and the low cost of services, key players in this region also concentrate on growing their businesses, which is anticipated to increase revenue generation significantly. Additionally, increasing public awareness of cutting-edge cancer treatments will fuel the market expansion of the brachytherapy. Moreover, the China market of brachytherapy held the largest market share, and the India market of brachytherapy was the fastest-growing market in the Asia-Pacific region.

Brachytherapy Key Market Players & Competitive Insights

Major market players are spending much on R&D to increase their product lines, which will help the market of brachytherapy grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Brachytherapy industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

Manufacturing locally to reduce operating costs is one of the primary business strategies manufacturers adopt in the Brachytherapy industry to benefit clients and expand the market sector. The Brachytherapy industry has provided medicine with some of the most significant benefits in recent years. The Brachytherapy market major player such as IsoAid (US), IsoRay Medical Inc. (US), R. Bard Inc. (US), Eckert & Ziegler (Germany), Varian Medical System Inc. (US), Argon Medical Devices Inc. (US), and others are working on expanding the market demand by investing in research and development activities.

IsoAid (US), A full range of Brachytherapy services and supplies, including full in-house loading, sterilization, and assay services on all seed orders, are available in addition to producing high-quality, custom-made seeds from us. Along with capital equipment, brachytherapy supplies, and treatment planning software, we also provide our customers with sizeable discounts. Prostate and eye plaque brachytherapy treatment planning will be given at your request. We are happy to support you in starting a new program by providing advice on education, training, and reimbursement if you need it as part of our partnership with you in your brachytherapy program. We will ensure that your Brachytherapy program is highly effective and productive. We help you save time and money so you can concentrate on helping people.

Also, R. Bard. Inc. (US) is a developer, producer, and marketer of cutting-edge, life-improving medical technologies in vascular, urology, oncology, and surgical specialty products. Hospitals, private healthcare practitioners, long-term care facilities, and alternative site facilities are among the markets served by BARD. For hospital procedures, BARD pioneered the development of single-patient-use medical products. Today, BARD is committed to pursuing technological advancements that provide superior clinical benefits while aiding in cost-reduction efforts. Bard will purchase Liberator Medical. Bard consents to acquire full ownership of its joint venture in Japan. C. Boston Scientific & Co. For the drug-coated balloon for Lutonix, R. Bard announced a distribution agreement.

Key Companies in the market of brachytherapy include

• IsoAid (US)


• IsoRay Medical Inc. (US)


• R. Bard Inc. (US)


• Eckert & Ziegler (Germany)


• Varian Medical System Inc. (US)


• Argon Medical Devices Inc. (US)

Brachytherapy Industry Developments

October 2021:For the treatment of aggressive prostate cancer, the Edinburgh Cancer Center announced in a published statement that it would be providing a high dose rate of brachytherapy. One of the first cancer treatment facilities in Scotland to provide HDR-BT for prostate cancer treatment. As a result, initiatives like these are anticipated to affect the market's development under investigation positively.

November 2022:The Chhattisgarh state's All India Institute of Medical Sciences (AIIMS) has offered Brachytherapy to cancer patients, including those with breast cancer. As a result of the factors above, the breast cancer segment is anticipated to account for a sizeable portion of the market of brachytherapy over the forecast period.

September 2020:According to the American Cancer Society, invasive breast cancer affects 1 in 8 American women (roughly 13%). According to the same source, 287,850 new cases of invasive breast cancer are anticipated to be diagnosed in women in the United States in 2022, along with 51,400 new cases of non-invasive (in situ) breast cancer.

Brachytherapy Market Segmentation

Brachytherapy Type Outlook

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  High dose-rate (HDR) brachytherapy

  
  


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  Low dose-rate (LDR) brachytherapy

  
  


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  Pulse Dose Rate (PDR) brachytherapy

  
  

Brachytherapy Device Outlook

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  After loader

  
  


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  Applicators

  
  

Brachytherapy Application Outlook

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  Prostate cancer

  
  


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  cervical cancer

  
  


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  breast cancer

  
  


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  skin cancer

  
  


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  others

  
  

Brachytherapy Regional Outlook

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  North America

  
  

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    US

    
    
  
  
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    Canada

    
    
  
  
  
  

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  Europe

  
  

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    Germany

    
    
  
  
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    France

    
    
  
  
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    UK

    
    
  
  
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    Italy

    
    
  
  
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    Spain

    
    
  
  
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    Rest of Europe

    
    
  
  
  
  

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  Asia-Pacific

  
  
  
  
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    China

    
    
  
  
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    Japan

    
    
  
  
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    India

    
    
  
  
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    Australia

    
    
  
  
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    South Korea

    
    
  
  
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    Australia

    
    
  
  
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    Rest of Asia-Pacific

    
    
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America