Brachytherapy Market Is Anticipated To Grow At A 4.06% CAGR from 2014 to 2025: Grand View Research, Inc.
The
global brachytherapy market is expected to reach USD
486.9 million by 2025, according to a new report by Grand View Research, Inc.
This growth can be attributed to increasing geriatric population, unhealthy
lifestyle, mergers & acquisitions, and unmet needs of cancer care in low-
and middle-income countries.
Furthermore,
there is rising competition in the brachytherapy market due to technological
advancements and presence of players, such as C.R. Bard, Inc.; Elekta AB (pub);
IsoRay, Inc.; and Argon Medical Devices, Inc. Hence, brachytherapy market is
expected to witness lucrative growth during the forecast period.
According
to American Brachytherapy Society, safety and efficacy of brachytherapy
treatment over other cancer treatments, such as chemotherapy and surgery, is
expected to boost the market.
U.S.
brachytherapy market, by type, 2014 - 2025 (USD Million)
Browse full research report on Brachytherapy
Market: http://www.grandviewresearch.com/industry-analysis/brachytherapy-devices-market
Further
Key Findings From the Study Suggest:
- In 2016, High-Dose Rate (HDR) brachytherapy dominated the market. Furthermore, the HDR brachytherapy segment is anticipated to grow at the fastest CAGR owing to factors such as growing incidence of breast cancer, unhealthy lifestyle, increase in research initiatives, and introduction of technological advancements by key players
- HDR brachytherapy decreases radiation exposure
time as its implantation is temporary, making it more convenient for
patients than LDR brachytherapy in which radiation sources are permanently
implanted
- The application segment comprises of prostate
cancer, breast cancer, and gynecological cancer. The breast cancer segment
is expected to exhibit lucrative growth by 2025 with a CAGR of more than 5%,
as breast cancer is the second most common cancer according to GLOBOCAN
- Geographic expansion into Europe, Asia Pacific,
and Middle East & Africa by well-established players is anticipated to
promote fastest growth in the region
- Asia Pacific is the fastest growing region due
to increased prevalence of cancer and increasing access to radiation
therapy, such as Esteya, an electronic brachytherapy system for treating
skin cancer
- Some of the key players in the brachytherapy
market are Elekta AB (pub); Varian Medical Systems, Inc.; IsoRay Medical,
Inc.; iCAD, Inc.; and Eckert & Ziegler BEBIG
- In August 2016, Eckert & Ziegler BEBIG
acquired BrachySolutions BVBA, one of the largest European prostate seed
distributors, for portfolio enhancement. Through this acquisition, the
company has secured a strong position in Europe as a seed manufacturer.
Access
Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-brachytherapy-market
About
Grand View Research, Inc:
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, the company offers market intelligence
studies ensuring relevant and fact-based research across a range of industries
including technology, chemicals, materials, healthcare and energy.
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