Global Brachytherapy Devices Market Size (2024 - 2029)

Brachytherapy Devices Market Analysis

The brachytherapy devices market is projected to register a CAGR of 5.5% during the forecast period (2022-2027).

The COVID-19 pandemic has affected the healthcare systems globally and also has had a significant impact on the Brachytherapy devices market. As per the article published in Cancer Connect 2020, A total of 7 patients with prostate cancer who were scheduled to receive brachytherapy were treated across the 4 hospitals. However, only 3 patients (43%) were able to undergo brachytherapy. As per the study published in January 2021, titled 'The Impact of COVID-19 on Brachytherapy During the Pandemic: A Rutgers-Robert Wood Johnson Barnabas Health Multisite Experience', by advances in radiation oncology, six patients elected to undergo EBRT followed by a brachytherapy boost for unfavorable intermediate- and high-risk diseases and since elective surgeries were canceled within the system during the pandemic, 4 patients were treated with EBRT with or without androgen deprivation therapy (ADT) only. Despite the challenges, the health care system faced during the pandemic, most patients with cancer were safely treated with minor treatment delays and interruptions. Thus, due to the COVID-19 imposed restrictions, the was significantly impacted. However, with the increase in cardiac surgeries, the demand for brachytherapy devices is expected to boost the growth of the market.

Brachytherapy devices are commonly used for effectively treating gynecologic, prostate, breast, and other types of cancer and thus increasing the burden of cancer around the world is expected to have a significant impact on the growth of the studied market. For instance, according to the International Agency for Research on Cancer (IARC), the global incidence of cancer in 2020 was estimated to be around 19.3 million, which is expected to increase to 24.6 million by the year 2030. Furthermore, breast cancer is among the most common cancer, with around 2.26 million new cases in 2020. Brachytherapy is related to the implementation of radioactivity within the body, to ablate or kill cancer or tumor cells within, or near the target area in the body. It is also used in combination with chemotherapy, surgery, or external radiation therapy. Thus, the increasing prevalence of cancer is expected to fuel growth in the brachytherapy market over the forecast period.

Moreover, in October 2021, Edinburgh Cancer Center published that it would be offering a high dose rate of brachytherapy for the treatment of aggressive prostate cancer. It is one of the first cancer care centers in Scotland to offer HDR-BT for treating prostate cancer. Hence, initiatives like this are further expected to have a positive impact on the growth of the studied market.

According to the International Atomic Energy Agency's (IAEA) Directory of Radiotherapy Centers (DIRAC), as of 2020, there are around 3,300 brachytherapy systems installed across radiation therapy centers worldwide, of which around 60% of the cancer cases occur in low and low middle-income countries (LMICs). 80% of patients in these countries lack access to treatment as they have limited access to technologically advanced products. In Low and Low Middle-Income Countries (LMICs), only 3-4% of the radiotherapy needs are met as opposed to 60-80% in the European countries. Other factors, such as rising government initiatives to increase awareness and technological advancements in minimally invasive surgical procedures are expected to drive the brachytherapy devices market in the forecast period. Therefore, due to the aforementioned factors, the brachytherapy market is expected to grow over the forecast period. However, the lack of skilled radiologists and advanced radiotherapy facilities, and reimbursement issues are among the major barrier to the growth of this market over the forecast period.

Brachytherapy Devices Industry Segmentation

As per the scope of the report, Brachytherapy is a type of internal radiation therapy that involves the placement of radioactive material inside the patient body to treat cancer. The brachytherapy devices market is segmented by technique (high dose rate brachytherapy devices and low dose rate brachytherapy devices), application (gynecologic cancer, prostate cancer, breast cancer, and others), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.