In a recently published report, Global Brachytherapy Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Brachytherapy Market products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Brachytherapy Market is valued approximately at USD 736.2 million in 2019 and is anticipated to grow with a healthy growth rate of more than 7.1% over the forecast period 2020-2027. Brachytherapy is a sort of radiotherapy that is increasingly being used in the treatment of a variety of cancer. It is also referred to as internal radiotherapy or seed therapy. On contrary, external beam radiotherapy usually provides radiation from external body, while brachytherapy generally works by accurately aiming the cancerous tumor from internal body. Radioactive seeds are usually put inside the cancerous tissue and are placed in a way that will damage the cancer tissues most efficiently. The method of pursuing cancerous cells through brachytherapy helps to mitigate the risk of any damage to healthy organs and tissues surrounding the tumor, thereby minimizing the potential side effects as well. This is expected to promote the use of brachytherapy, which, in turn, is contributing significantly towards higher market growth.
Furthermore, the rise in cases of breast and prostate cancer around the world, along with the increase in investment in R&D of cancer treatment are the few factors responsible for the high CAGR of the market during the forecast period. According to the World Health Organization (WHO), breast cancer is the most common type of cancer among female population, with 2.1 million cases reported annually. Similarly, as per Global Cancer Observatory (GCO), the new cases of breast cancer in 2018 across Japan was estimated around 66,000, which accounted for almost 7.5% of the total new cancer cases in the country. While, it is expected to reach almost 92 thousand cases in Japan by 2020. This, in turn, is expected to strengthen the market growth all over the world. However, the dearth of skilled radiotherapy professionals and limited access to technologically advanced products are the few major factors inhibiting the market growth over the forecast period of 2020-2027.
The regional analysis of the global Brachytherapy market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the early adoption of advanced and sophisticated treatment facilities for cancer, along with the presence of a significant number of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in cases of breast cancer and prostrate cancer along with improving healthcare infrastructure in developing countries, such as China and India, would create lucrative growth prospects for the brachytherapy market across the Asia-Pacific region.
Major market player included in this report are:
Eckert & Ziegler BEBIG
Isoray Medical, Inc.
Becton, Dickinson and Company
Civco Medical Instruments Co Inc .
Sun Nuclear Corporation
Varian Medical Systems, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Applicators & After loaders
By Dosage Type:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Brachytherapy Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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