Sarasota, FL -- (SBWire) -- 02/06/2019 --Global Brachytherapy Devices Market: Overview
Brachytherapy is a form of radiotherapy where a sealed radiation source is placed inside or next to the area requiring treatment. Brachytherapy devices are commonly used for effectively treating cervical, prostate, breast, and skin cancer and as well as the tumors in many other body sites.
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Global Brachytherapy Devices Market: Growth Factors
Growing geriatric population worldwide susceptible to chronic diseases and a significant rise in minimally invasive procedures will steer Brachytherapy devices market trends in the near future. Brachytherapy devices are advantageous over radiation therapy equipment as they provide high precision for treatment of early-stage and smaller tumors, and also for the treatment of various cancers. This is because brachytherapy devices enable optimal placement of radiation source needed for high localized doses of radiation. This, in turn, will promote the growth of Brachytherapy devices market in the coming years.
Brachytherapy devices are preferred over other radiation therapy equipment for treatment of tumors, as patients treated using these devices have negligible probability of recurrence of the condition. Apart from this, less time needed for treatment, the cost-effectiveness of brachytherapy, and efficiency factor of brachytherapy devices are acting in favor of brachytherapy devices market. Further, the growth of the global medical tourism industry is also having a positive bearing on the brachytherapy devices market. The rising prevalence of cancer and increasing application of brachytherapy for the treatment of other bodily disorders is predicted to fuel the market growth in the near future.
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Global Brachytherapy Devices Market: Segmentation
The global brachytherapy devices market can be classified based on technique, end user, and application. Based on the technique, the market is classified into a high dose rate and low dose rate. On the basis of the end user, the market is sectored into hospitals and oncology treatment centers. Based on the application, the market is classified into Cervical Cancer, Prostate Cancer, Breast Cancer, and Skin Cancer.
Global Brachytherapy Devices Market: Regional Analysis
Based on regions, the global brachytherapy devices market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
North America brachytherapy devices market is anticipated to lead the overall market over the next decade. The regional growth can be attributed to massive product demand. Increase in demand for high-quality treatment, the popularity of brachytherapy devices, and technological advancements are the factors driving the brachytherapy devices market in these regions. Increase in health care expenditure, favorable reimbursement policies, rise in the prevalence of cancer, and growth of the geriatric population are anticipated to drive the brachytherapy devices market during the forecast period.
Technological developments in the field of oncology treatment and R&D initiatives undertaken by the key players are some of the major growth drivers for this regional market. In addition, the companies are opting for acquisitions of smaller players to spread their regional outreach that is likely to drive the regional growth.
Europe is another key market for brachytherapy devices mainly due to a modern healthcare infrastructure and an increasing prevalence of cancer. In Europe, the EU Science Hub has estimated that the number of new cancer cases in the region is anticipated to increase rapidly due to demographic changes.
The Asia Pacific is the next growth market for brachytherapy devices. Factors likely to boost the growth of the brachytherapy devices market in the region are an increase in population, the rise in disposable income, and expansion of internal radiation facility. The brachytherapy devices market in Latin America and Middle East & Africa is expected to be driven by rising cancer incidence, growing patient population, improving economic conditions, and investments made by the government.
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Global Brachytherapy Devices Market: Competitive Players
The key players in the global brachytherapy devices market include Boston Scientific Corporation, C.R. Bard, Inc., CIVCO Medical Instruments Co. Inc., Cook Medical, Eckert & Ziegler, BEBIG, Elekta AB, Theragenics Corporation, Varian Medical Systems Inc., iCAD Inc., Theragenics Corporation, and CIVCO Medical Solutions.
Global Brachytherapy Devices Market: Regional Segment Analysis
North America
The U.S.
Europe
The UK
France
Germany
The Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa
Brachytherapy Devices Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026
Zion Market Research, The Market Research Group Announced The Analysis Report Titled "Brachytherapy Devices Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026"