Market Trends of Global Brachytherapy Treatment Planning Systems Industry
This section covers the major market trends shaping the Brachytherapy Treatment Planning Systems Market according to our research experts:
The Auto-Contouring Software Segment is Expected to Witness Growth Over the Forecast Period
To analyze the discrepancies between several datasets, automated contouring software is routinely utilized. However, no universally recognized contouring approach has been publicly advocated. Image-guided radiation therapy-IGRT technologies are utilized to simplify the complex procedures involved in radiotherapy multimodality for better and more understandable results.
The growing popularity of radiation operations is driving the development of automated contouring radiotherapy software. According to the National Institutes of Health updates from October 2020, radiotherapy alone delivers a 5-year survival benefit in 2.4 % of all cancer patients, and when paired with chemotherapy, this number rises to 0.3 %. Every year, the number of cancer sufferers worldwide increases. Automated contouring radiotherapy software is entirely reliant on the type of radiotherapy equipment used, and with the rising incidence of oncological patients, demand for automated contouring radiotherapy software is on the rise.
The constant product innovations, approvals, and certifications from governing bodies will drive the segment. For instance, in July 2020, MIM Software Inc.'s Contour ProtégéAI received the United States Food and Drug Administration clearance.
Additionally, increased government financing for sophisticated medical treatment research with a focus on patient safety is likely to support the global market's revenue growth. Because of expanding healthcare concerns and changing government laws aimed at reducing treatment errors, automated contouring radiotherapy software for radiation devices has a high penetration rate, making it easier and more efficient to assess oncological situations.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
Because of the fast developing healthcare infrastructure and rising healthcare spending, North America dominated the global market and accounted for the biggest revenue share. The rising cancer rates combined with an aging population is expected to drive the market. According to the American Cancer Society updates from January 2022, 1.9 million new cancer cases will be diagnosed, and 609,360 cancer deaths will occur in the United States in 2022. In 2021, about 1.9 million new cancer cases were expected to be diagnosed in the United States, and in 2020, about 1.8 million new cancer cases were diagnosed. In North America, these factors are driving the desire for innovative technological solutions in cancer care. The expansion of the regional market is being driven by the availability of suitable healthcare and cancer care facilities, as well as an increase in the number of cancer research institutes. Another element driving the market growth is the availability of a favorable reimbursement framework.
In North America, the growing number of product advancements in the cancer care market is assisting in the reduction of cancer-related mortality. The healthcare industry is evolving, and digital literacy is increasing in various nations, promoting market growth.
Moreover, in the United States, breast cancer is one of the leading cancer types. According to the January 2022 update by the Breastcancer.org, about 1 in 8 United States women (about 13%) will develop invasive breast cancer over the course of her lifetime. The same source reports that in 2022, an estimated 287,850 new cases of invasive breast cancer are expected to be diagnosed in women in the United States, along with 51,400 new cases of non-invasive (in situ) breast cancer.
The market is developing in tandem with the rising prevalence of cancer and the growing number of radiation institutes with technology for improved brachytherapy treatment planning. The number of well-developed and technologically advanced radiotherapy centers has increased in recent years. Because of the availability of better radiotherapy centers, public-private partnerships for the establishment of better facilities, and strategic collaborations of major players with radiotherapy centers for providing technologically advanced machines with enhanced treatment planning and delivery software & tools, brachytherapy treatment planning, and patient care management is becoming more popular. The global market is being driven by the increased prevalence of cancer, technical improvements, and the advantages offered by intraoperative radiotherapy over conventional radiation. The expanding number of clinical trials investigating the use of intraoperative radiation for various cancer applications is likely to provide market participants with lucrative growth prospects.
