According to the report analysis, ‘Global Brachytherapy Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use’ states that Eckert & Ziegler BEBIG, IsoRay Medical, Inc., Elekta AB (pub), Theragenics Corporation, C.R. Bard, Inc., CIVCO Medical Solutions, Huiheng Medical, Inc., Sun Nuclear Corporation, iCAD, Inc., Varian Medical Systems, Inc and many more are the foremost companies which presently operating in the global brachytherapy market more proficiently for keep maintaining the governing position, generating the highest percentage of revenue, obtaining the competitive edge, ruling around the globe and leading the highest market growth by spreading the awareness connected to the applications and advantages of brachytherapy, analysing the strategies and policies of government as well as contenders, establishing the several research and development programs, increasing the features and benefits of brachytherapy, implementing the policies of profit making and strategies of expansion, improving the qualitative and quantitative measures of such and delivering the better customer satisfaction.
The effective growth in prevalence of cancer, technological innovations, and a significant growth in the adoption of brachytherapy are projected to drive the growth of the market throughout the forecast period. Brachytherapy is a type of radiation therapy utilized for the treatment of cancer. The radioactive materials are placed inside the body with the assistance of catheters. Radiation therapy can be utilied for prophylactic, palliative, or curative treatment.
It can also be utilized as monotherapy or as an adjuvant with surgery, immunotherapy, and chemotherapy. The broad range of applications of radiotherapy has augmented its implementation by physicians. The latest innovations in radiation therapy enable the delivery of a high amount of dose to the target area with minimum impairment to nearby healthy tissues. This has augmented the chances of localized tumor control and has advanced cure rates, leading to an increment in requirement for radiation therapy.
In addition, some of the foremost players have been present in the market for years. They already have a well-established network of suppliers and customers, which assistances in strengthening their market position. Additionally, some of the foremost companies also function in other business domains. Hence, most often they are capable to invest enormous amounts for R&D activities.
North America registered the brachytherapy market and controlled the largest revenue share in the recent years. Brachytherapy is broadly used in North America owing to the benefits it offers over traditional approaches as it is a comparatively safer and proficient cancer treatment. Europe registered for a share in 2020. The utilization of brachytherapy in the European region has been growing over the last 5 years.
In Asia Pacific, the market is poised to observe the greatest CAGR throughout the forecast. The region accounts the world population and half the global burden of cancer. The pervasiveness of cancer is growing pertaining to an unhealthy lifestyle. In addition, restricted access to technologically advanced cancer treatments offers several opportunities for the market players. Therefore, it is predicted that during the review duration the market of brachytherapy will increase around the globe over the near future.
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