Breast Cancer Brachytherapy Market Size Is Projected To Reach $105.3 Million By 2027

The global breast cancer brachytherapy market size is estimated to reach USD 105.3 million by 2027, expanding at a CAGR of 7.0%, according to a new report by Grand View Research, Inc. The increasing prevalence of breast cancer is expected to accelerate market growth. For instance, the Breastcancer.org reported that as of January 2020, there were more than 3.5 million women suffering from breast cancer in the U.S.

In addition, the rising adoption of brachytherapy by academic medical centers, oncology centers, and hospitals is expected to boost the market growth. For instance, in October 2018, Navicent Health adopted the Xoft Axxent Electronic Brachytherapy (eBx) System developed by iCAD, Inc. for the treatment of breast cancer in Georgia. Furthermore, in October 2018, SUNY Upstate Medical University also adopted the Xoft Axxent Electronic Brachytherapy (eBx) System to provide treatment for early-stage breast cancer.

Moreover, government hospitals in developing countries are installing advanced systems to provide better quality treatment for their patients. For instance, in August 2018, Eckert and Ziegler BEBIG delivered and installed SagiNova HDR afterloader at BP Koirala Memorial Cancer Hospital of Nepal. SagiNova is suitable for interstitial breast implants. Hence, the use of such brachytherapy systems by hospitals is expected to fuel market growth.

Market players entering into strategic initiatives such as collaborations and partnerships are anticipated to propel the demand over the next few years. For instance, in July 2018, RaySearch partnered with Eckert and Ziegler BEBIG to integrate SagiNova with the RayCare oncology information system and RayStation treatment planning system to improve treatment outcomes during brachytherapy.

An increase in funding initiatives for HDR units in medical centers by organizations is estimated to drive the market. For instance, in April 2019, OSJ Charities Trust Fund collaborated with the National Federation of Italian Canadians to donate SagiNova for Santo Spirito Hospital as an alternative to external beam radiation therapy for a targeted approach and shorter treatment time.

Favorable reimbursement policies for oncologists, surgeons, and hospitals are expected to fuel market growth. For instance, HDR brachytherapy offers USD 11,000 as Medicare reimbursement for five days treatment period according to the coding issued by Centers for Medicare and Medicaid Services (CMS). 

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Breast Cancer Brachytherapy Market Report Highlights

• HDR brachytherapy dominated the market in 2019 and is also projected to be the fastest-growing technology segment over the forecast period
• Factors such as rapid delivery of radiation, accuracy, and precise tumor-specific dose delivery in a shorter period of time are expected to drive the segment
• North America has dominated the market in 2019 owing to the presence of key players and increasing adoption of the therapy by oncology centers and hospitals
• In Asia Pacific, the market is estimated to grow fast over the forecast period due to high unmet needs and growth opportunities for investors and companies to expand their presence in the region.

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Breast Cancer Brachytherapy Market Segmentation

Grand View Research has segmented the global breast cancer brachytherapy market on the basis of technology and region:

Breast Cancer Brachytherapy Technology Outlook (Revenue, USD Million, 2016 - 2027)

• High Dose Rate (HDR) Brachytherapy
• Low Dose Rate (LDR) Brachytherapy

Breast Cancer Brachytherapy Regional Outlook (Revenue, USD Million, 2016 - 2027)

• North America
• The U.S.
• Canada
• Europe
• Germany
• The U.K.
• France
• Italy
• Spain
• Russia
• Asia Pacific
• Japan
• China
• India
• South Korea
• Australia
• Singapore
• Latin America
• Brazil
• Mexico
• Argentina
• MEA
• South Africa
• Saudi Arabia
• United Arab Emirates

List of Key Players of Breast Cancer Brachytherapy Market

• Eckert & Ziegler BEBIG
• Elekta AB
• Varian Medical Systems, Inc.
• ICAD, INC.
• Hologic, Inc.
• Cianna Medical

About Grand View Research        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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