Rising Incidence of Cancer Drives the Brachytherapy Devices Market, According to New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Brachytherapy markets. Global market for Brachytherapy Devices is projected to reach US$411 million by 2020, driven by rising cancer cases, aging population, and growing need for more effective therapeutics.
San Jose, California (PRWEB) April 23, 2014
Follow us on LinkedIn – Cancer has emerged as one of the most critical health issues worldwide. Rising incidence of cancer and growing medical awareness continues to increase the demand for minimally invasive and cost efficient cancer treatment therapies, thereby generating strong market opportunities for Brachytherapy. Growing awareness over the potential use and benefits of brachytherapy among the cancer patient population over the last few years has accelerated the acceptance of brachytherapy. Benefits such as high survival rate, minimal complications, faster recovery, and increasing reimbursement for brachytherapy procedures have additionally helped spur adoption. With indications for brachytherapy ranging from prostate cancer, head and neck cancer, cervical cancer, endometrial cancer, and breast cancer to coronary applications, the market is set for strong growth ahead. Brachytherapy market has been constantly under pressure from competing modalities, including robotic microsurgery, and Intensity Modulated Radiation Therapy (IMRT). The unwavering focus on research and development of new treatment indications for brachytherapy will however help expand application possibilities, and the market’s revenue generating potential.
Prostate Brachytherapy is witnessing strong demand encouraged by the high prevalence of prostate cancer among men. Brachytherapy has emerged as an effective alternate treatment to radical prostatectomy. Besides cancer, the expanding use of brachytherapy in applications such as in coronary artery stenosis and macular degeneration also bodes well for the market. There are over 2.0 million cases of macular degeneration in the United States with about 220,000 new cases diagnosed each year. Balloon brachytherapy has been rising in popularity amongst breast cancer patients since the procedure eliminates the need for mastectomy or complete removal of the breast.
As stated by the new market research report on Brachytherapy, the United States represents the single largest market worldwide. Growth in the country is supported by the availability of reimbursement for radiotherapy procedures. Asia-Pacific, led by China and India, is forecast to emerge as the fastest growing market with a CAGR of 5.8% over the analysis period. Growth in the region is led by increase in medical tourism, developing healthcare infrastructure, rising standards of living and increasing healthcare spends.
Major players covered in the report include Best Medical International Inc., Boston Scientific Corp., C. R. Bard Inc., COOK Medical Inc., Eckert & Ziegler Strahlen & Medizintechnik AG, Gammex Inc., Nucletron BV, Oncura Inc., Theragenics Corporation, Varian Medical Systems Inc., Xoft Inc., among others.
The research report titled "Brachytherapy: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of the market trends, growth drivers, mergers, acquisitions and other strategic industry activities of major companies worldwide. The report provides market estimates and projections in US dollars for geographic markets, such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Middle East and Latin America (Brazil and Latin America).
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Brachytherapy_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/
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