Global Brachytherapy Market is projected to be worth USD 1.98 billion by 2033 and is anticipated to surge at a CAGR of 7.56%.
Because it lowers the chance of relapse, brachytherapy is recommended for cancer treatment above other forms of radiation therapy equipment. Pulse Dose Rate and Image Guided Brachytherapy (IGBT) are two further modern brachytherapy (PDR) procedures. Medical service providers can now legally administer and arrange brachytherapy for patients thanks to programming agreements.
According to SPER market research, ‘Brachytherapy Market Size- By Product, By Dosage Type, By Application, By End-User – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global Brachytherapy Market is predicted to reach USD 1.98 billion by 2033 with a CAGR of 7.56%.
Numerous key development factors are propelling the brachytherapy market, impacting its advancement in the healthcare industry. One of the main causes is the rising incidence of cancer worldwide, which comes with a stronger focus on individualized and focused treatment options. Brachytherapy is positioned as a useful treatment choice because of its capacity to provide localized radiation directly to tumor areas while minimizing harm to healthy surrounding tissues.
Advances in medical imaging technologies and treatment planning software are also fueling market growth. However, there are some issues facing the brachytherapy market. Reimbursement restrictions and governmental clearances may hinder market expansion. Giving medical personnel the proper training to carry out brachytherapy procedures safely and effectively is another major issue. Additionally, the initial cost of necessary infrastructure and equipment may be high, which would restrict availability in specific medical settings. Market share is contested by other advanced cancer treatments like immunotherapy and external beam radiation therapy.
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Impact of COVID-19 on Global Brachytherapy Market
Both the brachytherapy equipment business and international healthcare systems have been significantly impacted by the COVID-19 pandemic. Advances in radiation therapy allowed six patients with unfavorable intermediate- and high-risk diseases to choose EBRT followed by a brachytherapy boost, while four others received brachytherapy instead, as elective surgeries within the system had to be postponed due to the pandemic, according to a study titled "The Impact of COVID-19 on Brachytherapy" that was published last year. The great majority of cancer patients received successful treatment with very few delays or disruptions, despite the challenges the healthcare system faced throughout the outbreak.
Brachytherapy Market Key Players:
Geographically, the brachytherapy market's regional dynamics vary based on factors such as cancer incidence rates, economic growth, healthcare facilities, and regulatory frameworks. The market is well-established due to North America's high cancer frequency, particularly in the United States and Canada, contemporary healthcare systems, and significant R&D expenditures. The use of brachytherapy as a targeted treatment option is increasing in these areas because of their reputation for implementing state-of-the-art technology and placing a high priority on patient outcomes. Argon Medical Devices, Becton, Best Vascular, Carl Zeiss Meditec AG, CIVCO MEDICAL SOLUTIONS, Dickinson and Company, Eckert & Zieglet BEBIG A.G, Elekta AB, iCAD Inc, Isoray Inc, and Panacea Medical Technology Pvt. are also some of the major participants in the industry.
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