According to the latest report by IMARC Group, titled “Brachytherapy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global brachytherapy market size reached US$ 785 Million in 2021. Brachytherapy refers to a type of radiation therapy that is used to treat cancer. The procedure involves the placement of radioactive materials in or around the tumor to reduce the damage to the surrounding healthy tissue. Brachytherapy is effective in treating cervical cancer, breast cancer, skin cancer, and various other types of cancer. It can be utilized alone or in conjunction with other cancer treatments, including chemotherapy, surgery, and external radiation therapy. Brachytherapy allows doctors to deliver higher doses of radiation to specific body parts than conventional forms of radiation therapy or external beam therapy (EBT).
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Brachytherapy Market Trends:
The global brachytherapy market is primarily driven by the increasing prevalence of different types of cancer. Brachytherapy uses artificially produced radionuclides, including Caesium-137, Iridium-192, Gold-198, Iodine-125, and Palladium-103, for routine use. This has resulted in the adoption of brachytherapy for the effective treatment of cancer. Apart from this, the increasing healthcare expenditure and rising awareness regarding the advanced treatment options for cancer are escalating the demand for brachytherapy. Besides this, there has been widespread acceptance of the therapy amongst patients and medical professionals as brachytherapy equipment offer extremely localized radiation doses to small tumors. They are also used for prophylactic, palliative, and curative treatments, and used as monotherapy or as an adjuvant with surgery. Furthermore, various research and development (R&D) activities and the development of minimally invasive surgical procedures are creating a positive outlook to the market. On account of these factors, the market is expected to grow at a CAGR of 5.2% during 2022-2027.
- Based on the service type, the market has been segmented into history and physical report, discharge summary, operative note or report, consultation report, and others (pathology, and radiology report).
- On the basis of the technology, the market has been classified into EMR/EHR, PACS, RIS, SRT, and others.
- The market has been categorized based on the mode of procurement into outsourcing, offshoring, and both.
- On the basis of the end user, the market has been segregated into hospitals, clinics, clinical laboratories, academic medical centers, and others.
- Region-wise, the market has been divided into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Acusis Software India Pvt Ltd., Transcend Services, Inc., Naunce Communications, Inc., MModal Global Services Pvt. Ltd., iMedX Information Services Pvt. Ltd., Global Medical Transcription LLC, nThrive Solutions LLC, MTBC (CareCloud, Inc.), Medi-Script Plus and Transtech Medical Solutions LLC.
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