Brachytherapy Devices Market Analysis

The brachytherapy devices market by product type is categorized into seeds, applicators & afterloaders, and electronic brachytherapy. The seeds segment garnered USD 464 million revenue size in the year 2022. The dominance of the segment can be attributed to its remarkable precision in radiation delivery, significantly reducing damage to healthy tissues. Furthermore, the minimally invasive nature of seed implantation contributes to quicker patient recovery and more efficient healthcare resource utilization. Continuous advancements in materials, designs, and delivery mechanisms will further improve the safety and effectiveness of seeds-based brachytherapy.

Additionally, Seeds offer versatility in treating various cancers, such as prostate, breast, and gynecological cancers among others will enhance patient preference thereby propelling segment demand.

Based on technique, the brachytherapy devices market is segmented into high dose rate (HDR) and low dose rate (LDR). The low dose rate (LDR) segment accounted for 78.5% market share in the year 2022 and is anticipated to witness the highest growth during the forecast period. High segment growth is attributable to its controlled radiation release and compatibility with personalized medicine. The LDR technique's gradual radiation delivery effectively targets tumors while minimizing damage to healthy tissue and this approach also aligns with the trend of tailored treatments, enhancing outcomes and reducing side effects.

Based on application, the brachytherapy devices market is segmented into gynecological cancer, prostate cancer, breast cancer, and others. The prostate cancer segment accounted for over 68.2% business share in the year 2022 and is anticipated to witness lucrative growth during the forecast period. The widespread occurrence of prostate cancer has driven increased demand for effective treatment options. In addition, positioning brachytherapy gaining popularity due to its ability to deliver precise radiation directly to the prostate while minimizing damage to surrounding tissues.

For instance, the American Cancer Society's projections for prostate cancer in the U.S. in 2023 indicate an estimated 288,300 new cases of prostate cancer and around 34,700 deaths attributed to this condition. Consequently, the continued prominence of brachytherapy for prostate cancer is poised to stimulate segmental market growth, fuelled by the rising prostate cancer prevalence and ongoing advancements in treatment technology that promise even greater precision and efficacy.

The brachytherapy devices market by end-use is categorized into hospitals, specialty clinics, and others. The hospital segment garnered USD 411.2 million revenue size in 2022. Hospitals possess advanced imaging and treatment planning systems, ensuring seamless integration of brachytherapy into patient care. High investment in advanced technologies and specialized cancer care will drive the demand for brachytherapy. Further, a strong presence of specialized healthcare professionals and comprehensive treatment solutions will continue to support the expansion of the brachytherapy device market in the hospitals segment.

The U.S. brachytherapy devices market accounted for USD 270.5 million revenue size in 2022 and is predicted to witness substantial market growth over the analysis timeline. Increasing geriatric population base along with the rising incidence of cancer in the country will drive the U.S. market progress. For instance, as per the 2023 report from the Pan American Health Organization (PAHO), the Americas region is anticipating a 57% increase in the number of cancer diagnoses and the projections also indicate that approximately 6.23 million individuals will be expected to receive cancer diagnoses by the year 2040. Thus, the rising prevalence rate of cancer will contribute to the market growth.