The Global Branchytherapy Market is flourishing owing to the factors contributing to its growth are increasing incidences of cancer, rising aging population and demand for alternatives cancer treatment. Global brachytherapy market is expected to grow at a CAGR of 10.9% during forecast period 2017 to 2023.
Brachytherapy is a type of radiation therapy in which a radiation emitting source is placed near the area requiring treatment. Brachy means treatment for short distance therapy. It is effective for the treatment of cervical cancer, breast cancer, skin cancer and other types of cancers. Cancer cure rates after brachytherapy are comparable to surgery or external beam therapy (EBT). Demand for brachytherapy is increasing because of an increase in prevalence of various type of cancers, low treatment time and high efficiency. Its treatment results also show an increasing cure rate which is also contributing to the growth of this market.
According to American Cancer Society, breast cancer is considered as the most common type of cancer occurring in women with an estimated 252,710 new cases in U.S. Prostate cancer is found to be the most common cancer among American males. According to the American Cancer Society, in 2014, there were 233,000 cases of prostate cancer. Other types of cancer include esophageal cancer, gynecologic cancers, anal/rectal tumors, head and neck cancers.
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Industry Updates
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 Radiopharma 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 extends the company’s molecular imaging presence in Europe as well as the radiopharmacy facilities in the Italy and UK.
August, 2016 Eckert & Ziegler had acquired BranchySolutions 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 Branchytherapy Market – Regional Analysis
Depending upon the geographic regions brachytherapy market is segmented into four key regions: Americas, Europe, Asia Pacific and Middle East & Africa. North America dominated the market in 2016 due to the factors such increasing incidence of chronic illness, extensive use of brachytherapy and adoption of newer cancer therapies drive the growth of this market in America.
Europe emerged as the second largest market, the increasing cases of cancers, and the rising use of seeds brachytherapy in Europe are some factors responsible for the huge market share.
Asia Pacific is anticipated to be the fastest growing region showcasing lucrative growth over the forecast period. The attributed growth is due to the rise in aging population, increasing prevalence of skin cancer and increasing awareness about brachytherapy as an alternative to surgery. The high and low dose branchytherapy are commonly used in Asia Pacific region.
Global Branchytherapy Market – Competitive Analysis
Varian Medical Systems, Inc. provides brachytherapy device namely brachytherapy after loaders and applicators. In December 2016, the company acquired the Medical Imaging business of PerkinElmer, Inc. In August 2014, it also acquired Certain Assets of Transpire, Inc., a specialized developer of Radiation Simulation Software.
Some of the key players in this market include Varian Medical Systems, Inc. (US), C. R. Bard, Inc (US), Modus Medical Devices Inc. (Canada), Eckert & Ziegler (Germany), Argon Medical Devices, Inc. (US), Elekta AB (Sweden), IsoAid (US), IsoRay Medical, Inc. (US), and others.
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