Brachytherapy Devices Market to Observe Immense Expansion; Rising Incidence of Cancer Worldwide to Improve Business Prospects, says Fortune Business Insights™

Posted on Aug 3 2021 7:47 AM

"The global brachytherapy devices market size is anticipated to showcase considerable growth in the forthcoming years due to the rising cases of cancer. This information is published by Fortune Business Insights in its report, titled "Brachytherapy Devices Market, 2021-2028". The process involves radioactive materials being placed inside the patient's body to deliver radiation to targeted areas. The rising number of cancer-affected patients across the globe is garnering a huge demand for the product. For instance, according to World Health Organization predictions, the number of cancer cases globally is estimated to reach 29.5 million by 2040. "

Market Overview

The global brachytherapy devices market size is anticipated to showcase considerable growth in the forthcoming years due to the rising cases of cancer. This information is published by Fortune Business Insights in its report, titled "Brachytherapy Devices Market, 2021-2028". The process involves radioactive materials being placed inside the patient's body to deliver radiation to targeted areas. The rising number of cancer-affected patients across the globe is garnering a huge demand for the product. For instance, according to World Health Organization predictions, the number of cancer cases globally is estimated to reach 29.5 million by 2040. 

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COVID-19 Impact

Stabilized Demand and Supply to Augment Product Growth Post Lockdown

Brachytherapy devices were a part of essential services under healthcare during the pandemic-inducedlockdown. This prevented substantial losses to the industry during the phase of lockdown when most of the industries were shut down. Furthermore, as cancer patients are usually immune compromised, substantial care was implemented across various facilities to ensure optimum care could be provided. As the lockdown is being uplifted in various regions, equipment production is also expected to normalize and experience growth. Also, as traveling restrictions are encouraged, the medical tourism sector is also anticipated to reopen for business and propel market growth.

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Market Segmentation

On the basis of product, the market is segmented into brachytherapy afterloader, brachytherapy applicators, and others. Furthermore, the market is trifurcated into low dose rate, high dose rate, and pulse dose rate based on technique. Additionally, by application, the market is divided into prostate cancer, cervical cancer,gynecological cancer, and others. By end-user, the market is classified into hospitals, oncology treatment centers, and others. Based on geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

What Does the Report Contain?

The report has details on all the latest technology available in the market for brachytherapy devices. The technological advances made in the industry have been highlighted and the potential opportunities associated with that. The report establishes the challenges of the market and advises various solutions to them. It also mentions the growth-stimulating factors, the restraints, consumption pattern, distribution channels, and all other vital information associated with the market.

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Driving Factor

Increasing Prevalence of Cancer to Favor Market Growth

The rising incidence of cancer in the global population is facilitating brachytherapy devices market growth. The therapy is predominantly used for treating prostate cancer and various other ones. For example, in 2018, there were approximately 18.1 million cancer cases as recorded by the World Health Organization. Such statistics are a strong indication of the increasing need for this therapy and the equipment associated with it.

The technological advancement in brachytherapy devices is also expected to propel the growth of the market. For instance, these devices are now integrated with software solutions for proper management and scheduling therapy for patients.

Regional Insights

Consumer-Friendly Health Insurance Policies to Aid Market Growthin North America

North America is expected to hold a substantial brachytherapy devices market share in the foreseeable future. This is due to the rising prevalence of cancer and consumer-friendly health insurance policies in the region. For example, in 2018, the National Cancer Institute recorded approximately 1,735,350 new cancer cases in the United States.

Europe is anticipated to experience significant growth in the forthcoming years. This is because of the increasing government initiatives and programs for the patients affected by cancer. Moreover, the development of medical infrastructure in the region is anticipated to garner product demand

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Competitive Landscape

Expansion of Production Facilities by Prominent Companies to Brighten Their Market Prospects

The competitive landscape of the market forbrachytherapy devices enlightens us with details on prominent players of this industry. Technological advancement by key players is being researched to gain traction in the market. Several market giants are also collaborating on production facilities to expand their business horizons. Some companies are also using awareness campaigns to strategically introduce their products in regions with minimal awareness to expand their horizons. Several more strategic collaborations, acquisitions, partnerships, product launches, technological advancement, and others are spread across the market horizon of this product.

List of Key Players Profiled in the Market:

  • Becton Dickinson and Company
  • GENERAL ELECTRIC COMPANY
  • Eckert & Ziegler BEBIG.E
  • Elekta AB
  • LifeLine Software Inc.
  • Varian Medical Systems Inc.
  • Panacea
  • RadiaDyne
  • C4 Imaging LLC
  • Cianna Medical

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