Brachytherapy Devices Market Size, Share, Industry Trends and Forecast to 2030

Brachytherapy Devices Market Size & CAGR in 2021

The global brachytherapy devices market is expected to have a growth rate of 4.5% CAGR from 2021 to 2028. The market size in 2021 was estimated to be USD 725 million and is projected to reach USD 1.1 billion by 2028.

COVID-19 Impact on the Brachytherapy Devices Market

The COVID-19 pandemic had a mixed impact on the brachytherapy devices market. While there was a temporary disruption in the supply chain and manufacturing processes, the demand for brachytherapy devices increased due to the rising number of cancer cases during the pandemic.

Brachytherapy Devices Dynamics

Brachytherapy is a form of radiotherapy where a sealed radiation source is placed inside or next to the area requiring treatment. The growing prevalence of cancer, advancements in brachytherapy technology, and increasing investments in healthcare infrastructure are some of the key drivers of the brachytherapy devices market.

Segments and Related Analysis

The brachytherapy devices market can be segmented based on product type, application, and end-user. High-dose rate (HDR) brachytherapy devices, prostate cancer, and hospitals and clinics are some of the key segments in the market.

By Region Analysis

North America accounted for the largest market share in the brachytherapy devices market in 2021, followed by Europe and Asia Pacific. The increasing geriatric population and rising awareness about cancer treatment options are driving the market growth in these regions.

Key Market Players and Competitive Landscape

Some of the key players in the brachytherapy devices market include Varian Medical Systems, Eckert & Ziegler, Elekta AB, IsoRay Medical, and Theragenics Corporation. These companies are focusing on research and development activities to introduce innovative products and gain a competitive edge in the market.

Recent Happenings in Brachytherapy Devices Market

In recent years, there have been several developments in the brachytherapy devices market. Varian Medical Systems launched the Bravos afterloader system, a new high-dose rate brachytherapy system for prostate cancer treatment. Elekta AB introduced the Venezia applicator for gynecological cancer treatments, providing clinicians with more precision and control during procedures.