The global brachytherapy devices market is estimated to witness a massive growth rate of 8% from 2020 to 2030. The COVID-19 pandemic has had a slightly negative impact on the market. The fact that patients have reduced visits to hospitals and healthcare centers due to the pandemic is impeding market growth to some extent.
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However, other factors such as increased geriatric population and rising awareness of minimally-invasive radiotherapy procedures have been a great contributor to the growth of the brachytherapy devices market. Rise in the demand for devices in newly established hospitals across underdeveloped regions is also a key aspect of market growth, especially in the Asia Pacific region.
Key Takeaways from Brachytherapy Devices Market Study
- North America is the dominant region and accounted for US$ 363 million in market value in 2019.
- Hospitals are the leading end user segment, and will hold 60% of the total market share.
- Cervical cancer is the leading indication segment of the market, with an average of 500,000 females getting diagnosed every year.
- The applicators segment of the global brachytherapy devices market is set to expand at a growth rate of 8.4%.
- The brachytherapy devices market is in a state of consolidation, where key players account for over 70% of the market revenue.
“The COVID-19 pandemic has resulted in reduced hospital visits for other ailments, which is having a slight negative impact on the growth of the brachytherapy devices market,” says a Fact.MR analyst.
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Brachytherapy Devices Market: Segmentation
Fact.MR has studied the brachytherapy devices market with detailed segmentation on the basis of by type, indication, dose rate, end user, and key regions.
|Type||Indication||Dose Rate||End User||Region|
|Brachytherapy Afterloaders||Prostate Cancer||High Dose Rate (HDR) Brachytherapy||Hospitals||North America|
|Brachytherapy Applicators||Breast Cancer||Low Dose Rate (LDR) Brachytherapy||Cancer Treatment Centers||Latin America|
|Intracavitary Applicators||Cervical Cancer||Pulse Dose Rate (PDR) Brachytherapy||Others||Europe|
|Interstitial Applicators||Skin Cancer||Others||Asia Pacific|
|Others||Others||Middle East & Africa|
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Technological Advancements Key to Market Growth
Key players such as Elekta AB and Accuray are investing in the research & developments of brachytherapy devices – image-guided brachytherapy (IBT), etc., which is one of the latest technologies introduced in the market. Other competitors are also adapting and expanding their portfolios pertaining to such technologies. This has become one of the leading factors that will significantly affect market revenue and increase competition among players in the brachytherapy devices market landscape.
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