The global brachytherapy devices market is projected to expand at CAGR of 8.1% in the forecast period 2018–2026, states a research report by TMR. The market is anticipated to gather the valuation of US$ 1,613.6 Mn by 2026.
The TMR research report gives complete study on diverse factors shaping the growth of the global brachytherapy devices market. Thus, this document gives access to in-depth study of many crucial facets such as drivers, challenges, growth opportunities, threats, historical and present trends, and restraints of the market. Apart from this, the report delivers dependable data on volume, production, shares, and revenues of the market for brachytherapy devices.
Over the period of past few years, there is notable growth in the cases of many cancer types including breast cancer, prostate cancer, skin cancer, and cervical cancer across major parts of the globe. This is one of the key factors fueling the sales opportunities for vendors operating in the global brachytherapy devices market. This aside, the market is anticipated to show expansion on the back of the increased adoption of brachytherapy across major parts of the globe.
Several companies engaged in the global brachytherapy devices market are growing focus on technological innovations. As a result, they are seen investing heavily in R & D activities. These researches have resulted into innovations such as image-guided brachytherapy (IBT), which are likely to create growth opportunities in the global brachytherapy devices market in the forthcoming years.
In recent few years, the number of patients dealing with cervical & lung cancer are increasing in many developing regions. This factor is boosting sales avenues in the brachytherapy devices market.
Rise in demand for brachytherapy treatment, presence of advanced health care infrastructure, high adoption of minimal invasive surgeries, and supportive government initiatives across many developed and developing nations are some of the important factors that may result into promising growth opportunities for players in the global brachytherapy devices market in the years ahead.
Enterprises Focus on Expanding Businesses through Mergers and Acquisitions
CIVCO Medical Instruments Co. Inc., Boston Scientific Corporation, C.R. Bard, Inc., Eckert & Ziegler, BEBIG, Cook Medical, Theragenics Corporation, Elekta AB, iCAD Inc., Varian Medical Systems Inc., CIVCO Medical Solutions, and Theragenics Corporation are some of the key players operating in the global brachytherapy devices market. This scenario depicts that the level of competition in the market is intense.
To sustain in the high competition and gain competitive edge over other participants, major players in the global brachytherapy devices market are utilizing different strategic moves such as mergers and acquisitions.
North America: Prominent Region Shaping Market Expansion
In terms of region, the global brachytherapy devices market shows existence in many geographical regions such as North America, Europe, Latin America, Asia Pacific, and Middle East and Africa. Of them, North America is one of the dominant regions of the market for brachytherapy devices.
Some of the key factors fueling North America brachytherapy devices market sales include increased popularity of brachytherapy devices, growth in demand for high-quality treatment, and ongoing technological advancements in the region.
Global Brachytherapy Devices Market Segmentation
All data gathered and processed from the global brachytherapy devices market is segmented on the basis of several important parameters such as product type, dose rate, indication, end user, and region.
Based on end user, the brachytherapy devices market is divided into cancer treatment centers, hospitals, and others. In terms of product type, the market is classified into brachytherapy afterloaders, brachytherapy applicators, and others. Based on dose rate, the market for brachytherapy devices is classified into low dose rate (LDR) brachytherapy, pulse dose rate (PDR) brachytherapy, and high dose rate (HDR) brachytherapy.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Brachytherapy Devices Market (Product Type - Brachytherapy Afterloaders, Brachytherapy Applicators; Dose Rate - High Dose Rate, Low Dose Rate, Pulse Dose Rate; Indication - Prostate Cancer, Breast Cancer, Cervical Cancer, Skin Cancer; End use - Hospitals, Cancer Treatment Centers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026.”
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