The Breast Cancer Brachytherapy Market is poised to expand at 6.8% CAGR amid rising prevalence of br
Author : ojaswini patil | Published On : 11 Dec 2024
Breast cancer brachytherapy involves the insertion of radiation sources directly inside or adjacent to cancerous breast tumors through catheters. It enables delivering a higher radiation dose precisely to the tumor site with minimal exposure to surrounding healthy tissues. The technique causes fewer side effects like skin irritation, fatigue and swelling compared to whole breast external beam radiation therapy.
The Global Breast Cancer Brachytherapy Market is estimated to be valued at US$ 898.1 Mn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period from 2024 to 2031.
Key players operating in the Breast Cancer Brachytherapy market are Varian Medical
Systems, Inc., Elekta AB, Eckert Ziegler BEBIG, iCAD, Inc., Hologic, Inc., Cianna Medical,
IsoRay Medical, Inc., Theragenics Corporation, C.R. Bard, Inc., Boston Scientific
Corporation, Merit Medical Systems, Cook Medical, SenoRx, Inc., Nucletron B.V., and Xoft, Inc. The techniques precision and advantages over alternative therapies have propelled its demand in treating early-stage breast cancer. Moreover, rising prevalence of breast cancer cases globally is a key factor driving the breast cancer brachytherapy market.
Key Takeaways
Key players: Varian Medical Systems dominates the market owing to its advanced brachytherapy planning and delivery systems. Elekta has a strong geographic presence and offers brachytherapy solutions integrated with its Gamma Knife technologies.
Growing demand:
The Breast Cancer Brachytherapy Market size is led by Varian Medical Systems, which dominates due to its advanced brachytherapy planning and delivery systems, while Elekta holds a strong geographic presence and offers brachytherapy solutions integrated with its Gamma Knife technologies.
Global expansion: Major players are expanding their geographic footprint through partnerships and acquisitions to tap the high-growth markets of Asia Pacific and Latin America.
Market key trends
Technological advancements: Ongoing R&D in 3D printing, robotics, and Artificial Intelligence aims to improve applicator design and delivery accuracy of brachytherapy for breast cancer. Catheter-based solutions are replacing invasive surgical procedures.
Porter’s Analysis
Threat of new entrants: New players will face high costs for R&D, compliance, distribution and marketing to compete in this market.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of alternative cancer treatment options.
Bargaining power of suppliers: A few major companies dominate the supply of brachytherapy equipment and sources, giving them strong bargaining power.
Threat of new substitutes: Breast Cancer Brachytherapy Market Challenges and Opportunities include the threat posed by alternative treatments like external beam radiation therapy, although brachytherapy provides certain advantages for selected cancer types and stages.
Competitive rivalry: The market faces intense competition due to established players and technological advancements.
Geographically, North America dominates the breast cancer brachytherapy market in terms of value due to high awareness, developed healthcare infrastructure and wide acceptance of advanced treatments.
The Asia Pacific region is expected to grow the fastest during the forecast period due to rising healthcare expenditure, growing medical tourism and increasing patient population in countries like China and India.
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