Brachytherapy Market Size, Share, Growth Analysis, By Technique(High Dose Rate (HDR), Low Dose Rate (LDR)), By Application(Gynecological Cancer, Prostate Cancer, Breast Cancer, Others), By End User(Hospitals, Specialty Clinics, Others), By Region - Industry Forecast 2024-2031

Global Brachytherapy Market size was valued at USD 500.1 Million in 2022 and is poised to grow from USD 539.61 Million in 2023 to USD 991.4 Million by 2031, at a CAGR of 7.9% during the forecast period (2024-2031).

The growth of the global brachytherapy market is expected to be driven by factors such as the increasing prevalence of cancer, advancements in technology, and a significant rise in the adoption of brachytherapy. Brachytherapy is a form of radiation therapy where radioactive materials are placed inside the body using catheters to treat cancer.

Brachytherapy is a highly effective treatment for localized tumors, utilizing artificially produced radionuclides such as Caesium-137, Iridium-192, Gold-198, Iodine-125, and Palladium-103. The International Agency for Research on Cancer (IARC) estimates that the global incidence of cancer is around 19.3 million and is projected to increase to 24.6 million by 2030.

This growing cancer burden is a major driver for the market. Radiation therapy can be used for various purposes, including prophylactic, palliative, or curative treatment, either as monotherapy or in combination with surgery, immunotherapy, or chemotherapy. The broad range of applications has led to increased adoption by physicians. Recent advancements in radiation therapy techniques enable the precise delivery of high doses to the target area while minimizing damage to surrounding healthy tissues. This has significantly improved localized tumor control and cure rates, thereby increasing the demand for radiation therapy.

US Brachytherapy Market is poised to grow at sustainable CAGR for the next forecast year.