Brachytherapy Afterloaders Market: Introduction
- Brachytherapy is the oldest type of radiation therapy used to treat cancer and is suited as a single modality or in combination with other treatments such as external beam radiation therapy. Brachytherapy is conducted with a so-called afterloader, also known as a remote afterloading system. The very small radiation source is driven from a shielded safe – located inside the afterloader – directly into or next to the tumor with the help of applicators and catheters.
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Key Drivers and Restraints of Global Brachytherapy Afterloaders Market
- Cancer is the second-leading cause of death globally after cardiovascular disease and the proportion of deaths around the world due to cancer has increased for an estimated 9.6 million deaths in 2018. Globally, about 1 in 6 deaths is due to cancer. More than 60 percent of the world’s new cancer cases occur in Africa, Asia, and Central and South America and 70 percent of the world’s cancer deaths also occur in these regions. Late-stage presentation and inaccessible diagnosis and treatment are common. In 2017, only 26% of low-income countries reported having pathology services generally available in the public sector. Additionally, pathology services are available in more than 90% of high-income countries compared to less than 30% of low-income countries. Each cancer type requires unique treatment. Hence, increase in prevalence of cancer and need of treatment are expected to increase. This is likely to provide significant opportunities for players in this market.
- Governments in developed countries such as the U.S. raise funds for cancer research to aid in the diagnosis and treatment. Clinical trials are also funded by governments to support companies in developing effective cancer diagnosis. Medicare and private payers cover cancer diagnosis services that are performed or controlled by a medical practitioner certified by the American Board. For Instance, in April 2016, the U.S. Government allocated US$ 5.2 Bn for the National Cancer Institute (NCI), a Federal Government agency, for cancer research and training. The budget increased by 5.3% as compared to the previous year. NCI conducts clinical trials on cancer patients who require repetitive diagnosis to check the prognosis of cancer.
Prostate Cancer Segment to Dominate Global Brachytherapy Afterloaders Market
- In terms of application, the prostate cancer segment is expected to dominate the global brachytherapy afterloaders market during the forecast period. Prostate cancer is the most common cancer among men. In 2018, an estimated 1,276,106 men worldwide diagnosed with prostate cancer. Approximately 60% of cases are diagnosed in men over 65. The average age of diagnosis is 66; the disease rarely occurs before age 40. For unknown reasons, the risk of prostate cancer is about 60% higher in African-American men than in Caucasian men.
North America to Lead Global Brachytherapy Afterloaders Market
- Based on region, the global brachytherapy afterloaders market can be segmented into Europe, North America, Asia Pacific, Latin America, and Middle East & Africa
- North America is expected to lead the global brachytherapy afterloaders market. The brachytherapy afterloaders market in North America is driven by a well-established health care infrastructure in the region. This has led to rise in number of surgeries, thereby boosting the region’s market share.
- The market in Europe is projected to expand due to growing patient pool of geriatric population, high incidence of cancer, and technological advancements
- The brachytherapy afterloaders market in Asia Pacific is anticipated to witness rapid growth, owing to rise in medical tourism, increase in efforts by governments of the developing countries to better the health care infrastructure, and technological advancements
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Key Manufacturers Operating in Global Brachytherapy Afterloaders Market
The global brachytherapy afterloaders market is moderately fragmented with market players focusing on strategically important partnerships, collaborations, mergers, acquisitions, and product launches. Key manufacturers operating in the global market are:
- Eckert & Ziegler BEBIG
- Elekta AB
- Varian Medical Systems, Inc.
- Panacea Medical Technologies Pvt. Ltd.
- Theragenics Corporation
- GE Healthcare
- R. Bard, Inc.
- Best Medical International
Global Brachytherapy Afterloaders Market Scope
Global Brachytherapy Afterloaders Market, by Component
- Accessories & Consumables
Global Brachytherapy Afterloaders Market, by Product
- HDR (High dose rate) Afterloaders
- PDR (Pulsed-dose rate) Afterloaders
Global Brachytherapy Afterloaders Market, by Application
- Cervical Cancer
- Prostate Cancer
- Pancreatic Cancer
- Endometria Cancer
- Bladder Cancer
- Skin Cancer
- Other Applications