The latest market report published by Research Nester “Brachytherapy Catheters Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global brachytherapy catheters market in terms of market segmentation by product, by material, by application, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The use of catheters for brachytherapy is significantly increasing on account of growing demand for radiotherapy for treatment of cancer. Brachytherapy catheters are hollow tube-like medical devices that are used to place a radioactive material near the cancerous tissue in the body. They hold the material in place and are removed after the completion of treatment.
The market for brachytherapy catheters is estimated to expand with a significant CAGR during the forecast period, i.e., 2019-2027. This growth can be attributed to the increasing cases of various forms of cancer across the world, thereby increasing the demand for minimally invasive brachytherapy procedures. The American Cancer Society reported that the number of new cancer cases globally is estimated to reach 21.6 million by 2030, while the number of deaths by cancer is estimated to reach 13 million. The growing population and rising number of cancer cases are some of the prominent factors accounting for this market’s growth.
Brachytherapy catheters market is segmented by product, by material, by application, by end user and by region. On the basis of product, the market is further bifurcated into single lumen balloon catheter and multi lumen balloon catheter, out of which, the multi lumen balloon catheter segment is anticipated to observe the highest growth rate during the forecast period. This can be attributed to the ability of multi lumen balloon catheter to deliver radiation to various targets situated nearby.
High Efficiency Of Brachytherapy Catheters In Radiotherapy To Boost The Market Growth
The capability of brachytherapy catheter to treat tumors even at small target locations makes them highly desirable for cancer treatment. The high efficiency of brachytherapy over other external radiation treatment procedures is an additional factor that is estimated to hone the market growth during the forecast period.
However, the brachytherapy catheters market is estimated to witness few restraining factors hampering the market growth, with one such factor being the invasive nature of catheters used for brachytherapy.
Brachytherapy catheters market in North America is anticipated to hold the largest market share during the forecast period. The demand for brachytherapy catheter in the region is high as a result of rising prevalence of cancer and increasing requirement for brachytherapy for cancer treatment in the region. The market in Asia-Pacific region is estimated to grow at a significant rate during the forecast period on account of growing initiatives taken by government to develop healthcare infrastructure in the region.
This report also provides the existing competitive scenario of some of the key players of the global brachytherapy catheters market which includes company profiling of Hologic, Varian Medical Systems, Cianna Medical, Merit Medical Systems and TeamBest. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global brachytherapy catheters market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.