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Brachytherapy Devices
Global Brachytherapy Devices Market to Grow to $321.8m on Account of Growing Demand for Temporary Brachytherapy
Hyderabad,
AP,
India
(prbd.net)
12/04/2011
The global brachytherapy devices market is expected to grow at an annual rate of 2% from 2010–2017 to reach $302m by 2017. Temporary brachytherapy is gaining more favor among both physicians and patients due to increasing positive clinical evidence. Brachytherapy is becoming an accepted standard for treating gynecological cancers such as cervical cancer, endometrial cancers and ovarian cancers. The advancement in image guided techniques such as 3-D treatment planning has allowed physicians to become more accurate and precise in dose delivery. The advantages of a much shorter treatment time, which takes minutes instead of hours, has a high appeal to the patients. However, this market growth will be neutralized due to the continued decline in LDR brachytherapy procedures. This is because of a low demand for permanent brachytherapy procedures and declining seed prices. Permanent brachytherapy procedures are losing out to better treatment options such as Intensity Modulated Radiation Therapy (IMRT) and Image Guided Radiation Therapy (IGRT).
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Oncura is the largest market player in the permanent brachytherapy market with a 29% market share followed by CR Bard at a 26% market share. Ibt Bebig has a 12% market share and is the largest player in Europe with a market share of nearly 40%. Theragenics is the fourth largest player with a 8% market share.. Core Oncology is another significant player with a 7% market share. Other players such as Best Medical, IsoAid, IsoRay and BrachySciences comprise the remaining 18% of the permanent brachytherapy market.
There are a growing number of people who are being diagnosed with cancer each year. Each year 12.7 million people are diagnosed with cancer worldwide. This number is expected to grow by more than 112% to 27 million new cases each year by 2050. According to World Health Organization (WHO), by 2020, the annual incidence of cancer will rise to more than 15 million new cases. In most developed countries, cancer is the second largest cause of death after cardiovascular disease. The trend can also be seen to be emerging in the less developed world. More than half of all cancer cases occur in developing countries. These trends will result in an ongoing increase in patients who will require radiation therapy over the next few years. More patients are opting for radiation therapy as it offers many benefits to the patient besides being non-invasive. This will continue to drive the demand for brachytherapy in the future.
GlobalData’s medical equipment report, “Brachytherapy Devices - Global Opportunity Assessment, Competitive Landscape and Market Forecasts to 2017” provides key market data on the global brachytherapy market. The report provides global market value (USD million) for the two market categories – permanent brachytherapy devices and temporary brachytherapy devices. The report also provides key trends in the global brachytherapy devices market. The report is a source for the current market trends and technology trends for brachytherapy. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts.
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