High Prevalence of Cancer and Approval and Launch of Signal MRI Markers Brachytherapy Market

Brachytherapy Market

 Brachytherapy, the name given to the treatment of cancer using radiation has been around since the 1970's when it was discovered that patients who had high levels of melatonin in their blood showed an increased rate of response to radiation. The theory behind this phenomenon was that the patient's body was producing an excess of the hormone. The theory was that this hormone was responsible for the patient's sensitivity to radiation. Brachytherapy is essentially the same procedure but instead of radiation being applied to the affected area, it is applied to the skin. Instead of being applied to the skin, it is often applied directly to the tissue of the internal organs in order to achieve better results.

Market Dynamics

High prevalence of cancer is expected to propel the growth of the brachytherapy market. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S. Moreover, increasing adoption of adaptive breast brachytherapy treatment is also expected to aid in the growth of the market. For instance, in August 2020, Advanced Radiation Therapy, LLC completed the installation of the AccuBoost Digital platform at the Central Florida Cancer Institute, U.S.

Approval and launch of signal MRI markers is expected to offer lucrative growth opportunities for players in the brachytherapy market. For instance in January 2021, C4 Imaging, a developer of medical devices, received FDA 510(k) clearance for Sirius Positive Signal MRI Marker for use with Isoray’s Cesium-131. Moreover, adoption of machine learning in brachytherapy is also expected to aid in growth of the market. For instance, in October 2020, RaySearch Laboratories AB, a Sweden-based medical technology company that develops software used in radiation therapy of cancer, announced to present further advances in machine learning and support for brachytherapy at ASTRO 2020.

Among regions, North America is expected to witness significant growth in the brachytherapy market, owing to launch of new products in the region. For instance, in June 2019, Isoray, Inc. announced to launch The Power of Blu campaign introducing a new look and feel for the Cesium product group at the American Brachytherapy Society’s annual meeting.

Competitive Analysis

Major players operating in the brachytherapy market include, Elekta, Varian Medical Systems, Inc., Theragenics Corporation, Sun Nuclear Corporation, Argon Medical Devices, Eckert & Ziegler BEBIG, IsoRay Medical, Cianna Medical, iCAD Inc., and CIVCO Medical Solutions.

Major players operating in the brachytherapy market are focused on launching new products to expand their product portfolio. For instance, in November 2020, Elekta introduced Elekta Studio with its launch of the ImagingRing, an advanced interventional CT system that revolves around the patient and enables clinicians to conduct the entire brachytherapy workflow.

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