Wilmington, Delaware, United States, June 23, 2023 (GLOBE NEWSWIRE) -- The global brachytherapy seeds market is estimated to flourish at a CAGR of 4.1% from 2023 to 2031. According to Transparency Market Research, sales of brachytherapy seeds are slated to total US$ 191.4 million by the end of the aforementioned period of assessment.
Increased awareness about the benefits of brachytherapy seeds, such as targeted radiation therapy with minimal damage to surrounding healthy tissues, is driving demand among patients and healthcare providers. Brachytherapy seeds offer a minimally invasive treatment option for various types of cancer, reducing the need for extensive surgery and improving patient outcomes.
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Continuous research and development efforts are focused on enhancing the precision, effectiveness, and safety of brachytherapy seeds, opening new avenues for innovation and market expansion. The market potential in developing regions is vast, as these areas witness a rising incidence of cancer and increasing healthcare infrastructure, presenting untapped opportunities for brachytherapy seed manufacturers and service providers.
Advancements in imaging technologies and computer-aided treatment planning have enabled the development of personalized treatment plans tailored to individual patient needs, optimizing treatment outcomes. Collaborations between brachytherapy seed manufacturers, radiation oncologists, and research institutions are fostering innovation, knowledge exchange, and the development of novel therapies, pushing the boundaries of the market.
The combination of brachytherapy seeds with external beam radiation therapy is gaining traction, enabling a comprehensive approach to cancer treatment and improved patient response rates. Innovations in seed localization techniques, such as ultrasound-guided and MRI-guided procedures, are enhancing the precision of seed placement during brachytherapy, further improving treatment outcomes.
Key Findings of the Market Report
- The dominating segment among radioactive seed types in the brachytherapy seeds market is Iodine-125.
- The dominating segment among the brachytherapy seeds market on the basis of technique is LDR (low dose rate) brachytherapy.
- The dominating segment among brachytherapy seeds market applications is prostate cancer.
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Brachytherapy Seeds Market Growth Drivers & Trends
- Technological advancements in brachytherapy techniques, including image-guided and real-time adaptive brachytherapy, have improved treatment precision and outcomes. These advancements attract healthcare providers and patients, driving market growth.
- Brachytherapy seeds provide a minimally invasive treatment option for certain types of cancer. The growing preference for minimally invasive procedures among patients, coupled with the advantages of brachytherapy, boosts market growth.
- The integration of brachytherapy with advanced imaging technologies, such as MRI and ultrasound, enables accurate seed placement and real-time treatment monitoring. This trend enhances treatment precision, improves outcomes, and drives market growth.
- Increasing focus on personalized medicine drives the development of targeted therapies in brachytherapy. Customized treatment plans, based on individual patient characteristics, optimize treatment efficacy and foster market growth.
- Quality assurance programs and guidelines are gaining prominence in brachytherapy, ensuring adherence to standardized protocols and enhancing treatment safety. The focus on quality assurance strengthens market growth by instilling confidence in patients and healthcare providers.
Global Brachytherapy Seeds Market: Regional Profile
- North America holds a significant share owing to advanced healthcare infrastructure, favorable reimbursement policies, and increasing prevalence of cancer.
- Europe follows closely, driven by robust research and development activities and government initiatives promoting cancer treatment.
- The Asia Pacific region is witnessing rapid growth due to the rising burden of cancer, improving healthcare facilities, and increasing awareness about advanced treatment options.
- Latin America and the Middle East and Africa regions are also experiencing growth, fueled by improving healthcare access and rising investments in cancer care.
Brachytherapy Seeds Market: Competitive Landscape
The brachytherapy seeds market exhibits a competitive landscape with numerous key players striving for market dominance. Companies such as Eckert & Ziegler BEBIG, Theragenics Corporation, and IsoAid, are at the forefront.
These players focus on technological advancements, strategic partnerships, mergers and acquisitions, and product innovation to strengthen their market position. Intense competition fosters innovation, leading to the development of advanced brachytherapy seed solutions, ultimately benefiting patients and driving market growth. Some prominent manufacturers are as follows:
- Argon Medical
- Carl Zeiss AG
- Eckert & Ziegler BEBIG
- Elekta AB
- Icad, Inc.
- Isoaid
- Isoray Medical, Inc.
- Merit Medical Systems, Inc.
- Siemens AG
- Theragenics Corporation
Some important developments with regard to brachytherapy seeds are as follows:
- In March 2023, Argon Medical Devices introduces TRAVELER™ Portal Vein Access Series, expanding its portfolio for Transjugular Intrahepatic Portosystemic Shunt (TIPS) procedures, complementing the existing SCORPION® product.
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Brachytherapy Seeds Market: Key Segments
By Radioactive Seed Type
- Iodine-125
- Palladium-103
- Cesium-131
- Others
By Technique
- HRD Brachytherapy
- LDR Brachytherapy
By Application
- Gynecological Cancer
- Prostate Cancer
- Breast Cancer
- Brain Cancer
- Others
By End User
- Hospitals
- Cancer Institutes
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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