Introduction to Brachytherapy Catheters
Brachytherapy is used to treat cancer using radiotherapy by placing a small amount of radioactive material near cancerous tissues and killing or reducing the growth by providing high to low doses of radiation to the cells. The therapy provides highly localized radiation to cancerous tissues, thereby reducing the risk of delivering radiation to normal cells and preventing disorders associated with exposure to radiation.
Brachytherapy catheters are soft, hollow tubes that hold the radioactive material near the target site (cancerous tissue) for a certain time period and are later removed along with the radiation source. This treatment method is highly effective as it targets the cancerous tissue without harming the surrounding normal tissues.
Market Size and Forecast
The brachytherapy catheters market is anticipated to record a significant CAGR over the forecast period i.e. 2019-2027. The market is segmented by product, by material, by application, by end user and by region, out of which, the product segment is further segmented into single lumen balloon catheter and multi lumen balloon catheter. The multi lumen balloon catheter segment is anticipated to hold the largest share in the brachytherapy catheters market on account of its ability to provide the radiation material to various targets located close to each other. This holds an advantage over single lumen balloon catheters and thereby the demand is estimated to increase over the forecast period.
The medical costs for cancer treatment in the US were estimated to be USD 80.2 billion by the Agency for Healthcare Research and Quality in 2015. Out of this, 52% of amount was estimated to be hospital outpatient expenditure and 38% to be inpatient hospital expenditure.
On the basis of end user, the market is segmented into hospitals, radiation therapy centers and others, out of which, the hospitals segment is estimated to witness highest growth in the market during the forecast period as a result of increasing prevalence of cancer leading to growing number of patients along with the availability of high precision techniques and facilities in the hospitals. DOWNLOAD SAMPLE REPORT HERE
Growing Cases Of Cancer To Expand The Market
According to the American Cancer Society, the number of new cancer cases is estimated to reach 21.6 million globally by the year 2030, while the number of cancer deaths is estimated to reach 13 million. This rapid increase in the number of cancer cases can be attributed to adoption of unhealthy lifestyle by people across the world. Another factor contributing to the growth of cancer among people is the use of tobacco, which accounts for more than 20% of deaths by cancer every year globally, as reported by the same source.
High Efficiency And Reduced Time Period Of Treatment To Increase Market Growth
Brachytherapy catheters can even be used for small cancerous target areas, which makes them highly favorable as compared to external radiation treatment methods or surgical treatment methods. Since they are used for internal radiation therapy, the treatment is precise, safe and highly efficient, providing lower discomfort to cancer patients during and after the therapy.
Invasive Nature Of Catheters To Limit The Market Growth
Despite being a minimally invasive technique of radiotherapy, brachytherapy catheters are not favored by everyone since they are required to be placed inside the body. An additional factor restraining the market growth is increased preference of people for external radiation therapy, which is a non-invasive procedure for cancer treatment.
Our in-depth analysis of the brachytherapy catheters market includes the following segments:
By End User
On the basis of regional analysis, the brachytherapy catheters market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The market in North America is anticipated to hold the largest share in brachytherapy catheters market during the forecast period. This growth can be attributed to the presence of major key players in the region along with rising cases of cancer leading to growing number of patients in the hospitals requiring brachytherapy for treatment, mainly in the US.
Europe is estimated to hold the second largest market share in the market on account of growing prevalence of cancer among the population and increasing awareness about improved medical technologies in the region.
The market in Asia-Pacific region is estimated to grow at the highest rate during the forecast period as market players are anticipated to expand their business in the region, mainly in countries such as China, Japan and India. Increasing number of investors entering the market in this region is anticipated to propel the market growth. Moreover, government initiatives to develop healthcare infrastructure in China and India is an additional factor driving the market growth.
The brachytherapy catheters market is further classified on the basis of region as follows:
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