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Brachytherapy devices market to increase at a CAGR of 3%
Companiesandmarkets.comAug 20, 2012 14:21 BST
The brachytherapy devices market was worth a value of $268.2 million in 2011, and has been forecast to increase at a compound annual growth rate (CAGR) of 3% through to 2018, to be worth a total market value of $322 million.
Growth within the brachytherapy devices market is expected to be driven by the increasing incidence of cancer, improved efficiency, shorter time required for treatment, and cost effectiveness.
Brachytherapy is a type of radiation therapy used for the treatment of cancer, and involves placing a radioactive material inside or near the tumour. This is also known as internal radiation therapy, and allows the physician to treat a small area with a higher dose of radiation in a shorter time.
Brachytherapy is a highly effective, outpatient procedure that is easily customizable to patients' individual needs, and offers many benefits to the increasing numbers of patients opting for non-invasive treatment option.
The brachytherapy devices market is expected to experience high uptake in emerging economies like India, China, and Brazil. Moreover, extending applications of this technique to other body sites is expected to drive this market temporarily in the near future.
Oncura is the largest player in the brachytherapy devices market with a 29% share followed by CR Bard who controls 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%.
For more information on the brachytherapy devices market, see the latest research: Brachytherapy Devices Market Report
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