A new market research report by Transparency Market Research, titled “Brachytherapy Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2012 – 2018,” provides a detailed study on the market for brachytherapy devices. The size of the market has been calculated in terms of both volume and revenue. The key market dynamics such as the market drivers, opportunities, trends, and impeders have also been presented coupled with providing their impact on the development of the market.
Porter’s five forces model has been deployed for analyzing the degree of competition in the market by considering the factors including bargaining power of buyers and suppliers and the major threats posed by alternate devices and emerging entrants. The report also encapsulates a review on the competitive landscape of the market and highlights the profiles of the key market players along with presenting their market shares.
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Radiation therapy equipment is the parent market for brachytherapy devices. The former is segmented into internal radiation therapy equipment and external radiation therapy equipment. The brachytherapy devices market is a sub-segment of internal radiation therapy equipment. Brachytherapy is a sealed source radiation therapy utilized for the treatment of a number of cancers such as breast, skin, cervix, and prostate. According to the report, the key advantage of brachytherapy devices is that they involve high-precision radiation source placement at the specified location in the patient’s body. They also limit the adverse effects of radiation on parts surrounding the targeted location and hence minimize the impact of radiation to healthy tissues.
As per the report, the improved efficiency of brachytherapy devices, less treatment time involved in the utilization of these devices, and their cost-effective nature are amongst the prime factors fuelling the market for brachytherapy devices. In addition, the flourishing medical tourism industry and the rising occurrence of cancer globally are also amongst the chief factors propelling the growth of the market. The rising applications of these devices in body sites other than the ones mentioned earlier will also impact the market positively.
In terms of geography, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World (RoW). The brachytherapy devices market is predicted to rise rapidly in countries such as India, Brazil, and China. As stated in the report, the prominent players dominant in the market are C.R. Bard Inc., Eckert and Ziegler BEBIG S.A., Elekta AB, Theragenics Corp., Varian Medical Systems Inc., GE Healthcare Ltd., Boston Scientific Corp., Cook Medical Inc., Gammex Inc., CIVCO Medical Instruments Co. Inc., and Huiheng Medical Inc., among others.
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