Brachytherapy Market – Competitive Analysis
There are large number of companies involved in the development of the devices and therapies for the treatment of cancers. Such devices are being used in majority part of the developed countries. Global market for brachytherapy is majorly dominated by companies such as C. R. Bard Inc, Eckert & Ziegler, Elekta AB, Varian Medical Systems Inc.
Key Players:
Some of the key players in this market are: Modus Medical Devices Inc. (Canada), Varian Medical Systems, Inc. (US), Eckert & Ziegler (Germany), C. R. Bard, Inc (US), Argon Medical Devices, Inc. (US), Elekta AB (Sweden), IsoRay Medical, Inc. (US), IsoAid (US), and others.
Industry News:
Varian Medical Systems, Inc. provides brachytherapy devices including brachytherapy afterloaders and applicators. Besides that, it also provides software solutions for brachytherapy. In August 2017, Varian Medical Systems signed brachytherapy applicator distribution agreement with Bionix Radiation Therapy. In December 2016, the company announced the acquisition of the Medical Imaging business of PerkinElmer, Inc. Earlier in August 2014, it had also acquired Certain Assets of Transpire, Inc., a specialized developer of radiation simulation software.
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August 2017 Becton Dickinson and Company (BD) acquired Bard. The acquisition will expand its focus on disease treatment beyond diabetes, and include urology, peripheral vascular disease, cancer, and hernia.
May 2017 Eckert & Ziegler Strahlen- und Medizintechnik AG signed an agreement to acquire Gamma-Service, a specialist in manufacturing isotope technology. With this acquisition Eckert & Ziegler is expected to strengthen their market position and focus on the optimal servicing for their existing customers.
Feb 2017 Merit Medical Systems, Inc. to acquire products from Catheter Connections, Inc. and Argon Medical Devices. These product acquisitions will broaden Merit’s product portfolio and simultaneously expanding the companies’ geographic presence. The company also focuses on widening its customer base globally.
Jan 2017 Alliance Medical signed a pact to purchase Eckert & Ziegler Radio pharma GmbH (Eckert & Ziegler’s cyclotron division), a subsidiary of Eckert & Ziegler AG. The cyclotron division consist of four cyclotrons across Germany, Austria and Poland. The acquisition of Eckert & Ziegler’s cyclotron division will further extend the company’s molecular imaging presence in Europe as well as the radio pharmacy facilities in the Italy and UK.
August 2016 Eckert & Ziegler had acquired Branchy Solutions BVBA, a European prostate seed distributor. The acquisition will strengthen Eckert & Ziegler seed manufacturing position in Europe
Jan 2016 Argon Medical Devices, Inc. acquired three vascular products from Rex Medical, LLC. The product include, UltraStream Chronic Hemodialysis Catheter Option, ELITE CLEANER Rotational Thrombectomy System, and Retrievable Vena Cava Filter are wholly owned by this company. The acquisition is expected to fortify the existing interventional portfolio. It further enables the company to offer customer procedure-based comprehensive solutions.
Global Brachytherapy Market – Overview
According to a recent study published by the Market Research Future analysts, the Global Brachytherapy Market is growing at a double-digit growth rate. This exponential growth in the market is attributed to increasing incidence rate of cancer, increasing demand for the alternative treatment for prostate cancer, and rising adoption of radiation therapy for cancer treatment.
However, there are certain factors that may limit the growth of this market to an extent. One of the major factors is the adverse effects of the radioactive compounds on the patient’s body leading to other health illness. Besides that, cost of the treatment, lack of awareness, lack of treatment facilities in underdeveloped areas may also affect the growth of global brachytherapy market.
Brachytherapy Market – Segments
Global Brachytherapy market has been segmented on the basis of applications which consist of cervical, prostate, breast, skin cancer, gallbladder, rectum and others. On the basis of types, the market is majorly divided into; drugs and devices. Devices are further divide on the basis of mode of operation, i.e. invasive and non-invasive. Invasive if further comprises of; microsphere brachytherapy, while non-invasive includes; electronic brachytherapy. Based on end users the market is classified into; medical physicist, licensed dosimetrist and radiation oncologist.
Global Brachytherapy Market – Regional Analysis
Americas is the largest market for brachytherapy globally. The major factor in this large share is presence of large number of companies providing brachytherapy solutions. The growth in the American market is majorly due to the rise in the patient population and increased number oncology cases in recent years. According to national cancer institute, in 2015, there were approximately 3,120,176 men living with prostate cancer in the United States. In 2018, and estimated death count in US because of Prostate cancer is 29,430, which is nearly 5% of the total cancer deaths in US. Moreover, increasing competition among players is also fueling the growth of the brachytherapy market in American region.
European region holds the second largest market share in brachytherapy market. One of the biggest factors in this region is the huge patient population of different types of cancer. UK is one of the major countries having large patient pollution. In 2015, 47,151 new cases of prostate cancer were found in UK. Besides that, Germany, France, Italy, and Spain are major countries that contribute in the European brachytherapy market.
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Asia Pacific region is currently far behind Americas and Europe in terms of market sizing. However, the growth of the brachytherapy market in this region is phenomenal. There are large number of companies entering in the Asian region for their business development and expansion. Japan currently being the most developed country in Asia region, dominates the Asian market. However, India, and China market are the most lucrative markets for new investors and new companies. As a result, these markets are growing at a rapid pace.
The Middle East & Africa contributes least in the global market of brachytherapy. Saudi Arabia, and UAE are the most developing countries in the region that offer better healthcare facilities and possess better medical avenues. The Middle East & Africa market is projected to continue its slow growth during the forecast period 2018 to 2023
Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope of the Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
Continued….
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