The forecast for the brachytherapy devices market provides valuable insights for stakeholders aiming to strategize their growth. The market is anticipated to expand from US$ 310.96 million in 2022 to US$ 501.75 million by 2030, reflecting a compound annual growth rate (CAGR) of 6.2% during the period from 2022 to 2030.

Brachytherapy is a specialized radiation therapy utilized in cancer treatment. This method involves the insertion of radioactive materials directly into or near the tumor, allowing for high radiation doses to be delivered precisely to the targeted areas. There are two primary brachytherapy techniques: Low Dose Rate (LDR) and High Dose Rate (HDR), both of which are frequently employed in the treatment of prostate cancer. The rising incidence of cancer globally is expected to enhance the uptake of brachytherapy as a treatment option. Furthermore, the benefits of brachytherapy compared to conventional treatment methods?such as reduced treatment duration, increased efficacy, and advancements in brachytherapy technology?are likely to propel the growth of the global brachytherapy devices market.

Factors Influencing the Brachytherapy Devices Market

In recent years, brachytherapy has seen remarkable advancements, driven by enhancements in applicators, imaging techniques, treatment planning, and clinical research. Ongoing studies in brachytherapy technology are continuously evolving the delivery methods of this treatment. The integration of brachytherapy with other therapeutic approaches, including external beam radiation therapy, chemotherapy, immunotherapy, or surgical interventions, has emerged as a promising trend in cancer treatment. For example, a study published in the Journal of Contemporary Brachytherapy in August 2021 explored the effectiveness of combined treatment modalities, tumor sensitization, normal tissue protection, molecular radiation biology, and clinical trials involving brachytherapy. The findings suggested that the combination of brachytherapy with immunotherapy could enhance local tumor control and improve responses in non-irradiated lesions.

Consequently, these advancements in brachytherapy devices and treatment methodologies are expected to stimulate market growth throughout the forecast period.

Brachytherapy Devices Market Analysis by Segment

The brachytherapy devices market is categorized by product type into seeds, brachytherapy afterloaders and applicators, and electronic brachytherapy. In 2022, the segment for brachytherapy afterloaders and applicators captured the largest market share and is projected to exhibit the highest CAGR from 2022 to 2030.

The market is also divided by type into high-dose rate brachytherapy implants and low-dose rate brachytherapy implants. The low-dose rate brachytherapy implant segment accounted for a larger share of the market in 2022 and is expected to experience a more rapid growth rate from 2022 to 2030.

By application, the brachytherapy devices market is segmented into breast cancer, cervical cancer, prostate cancer, lung cancer, and others. The prostate cancer segment held the largest market share in 2022 and is forecasted to achieve the highest CAGR during the 2022-2030 period.

Regarding end users, the market is divided into hospitals and specialty clinics, ambulatory surgical centers, and others. The hospitals segment dominated the market in 2022, primarily due to the superior facilities and skilled healthcare professionals available in hospitals, which are better equipped to perform minimally invasive procedures compared to other surgical centers.

Regional Analysis of the Brachytherapy Devices Market

Geographically, the global brachytherapy devices market is segmented into North America, Asia Pacific, Europe, the Middle East & Africa, and South & Central America. North America led the brachytherapy devices market in terms of revenue in 2022, with the United States being the primary contributor. This dominance can be attributed to the rising incidence of breast cancer among women and prostate cancer among men in the region. According to the Pan American Health Organization (PAHO), approximately 4 million cancer diagnoses were reported in the Americas in 2020, with projections indicating a ~60% increase by 2040.

Moreover, the presence of key market players such as BD, Isoray Inc., and Elekta, along with the availability of cutting-edge brachytherapy devices, presents significant opportunities for market growth. For instance, in July 2021, GenesisCare expanded its brachytherapy services by acquiring 27 Flexitron brachytherapy afterloader systems and service agreements from Elekta. These advanced cancer treatment devices enabled GenesisCare to stay at the forefront of technology and deliver high-quality care to patients across its centers in the United States.