Technical Advancements to Boost the Brachytherapy Catheters Market Growth

Research Nester released a report titled "Brachytherapy Catheters Market: Global Demand Analysis & Opportunity Outlook 2027" which delivers detailed overview of the global brachytherapy catheters market in terms of market segmentation by product, by material, by application, by end user and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

Brachytherapy catheters market is anticipated to grow at a significant CAGR during the forecast period, i.e., 2019-2027 on account of growing prevalence of cancer and a rise in demand for highly efficient treatment methods. The market is segmented by product, by material, by application, by end user and by region. On the basis of product, the market is further segmented into single lumen balloon catheter and multi lumen balloon catheter, out of which, the multi lumen balloon catheter segment is anticipated to hold leading market share in brachytherapy catheters as a result of its ability to deliver radiation at multiple cancerous tissues located nearby.

On the basis of end user, the market is segmented into hospitals, radiation therapy centers and others, out of which, the hospitals segment is estimated to observe the highest growth during the forecast period on account of growing number of cancer patients along with high precision procedures and facilities available in the hospitals. According to the Agency for Healthcare Research and Quality, the estimated medical costs for cancer treatment were USD 80.2 billion in the U.S. in 2015. Out of this, the hospital outpatient costs were estimated to be 52% and inpatient hospital costs were 38%.

Geographically, the market in North America is anticipated to hold the largest share in brachytherapy catheters market during the forecast period on account of presence of major market players in the region and rising cases of cancer among the population. However, the market in Asia-Pacific region is estimated to grow at a noteworthy rate during the forecast period which can be attributed to increasing government initiatives pertaining to the development in healthcare infrastructure in the region.

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Adoption of Unhealthy Lifestyle To Drive the Growth of the Market

Increasing cases of cancer among the population as a result of unhealthy lifestyle is estimated to boost the market growth during the forecast period. The growing geriatric population is another factor anticipated to drive the demand for brachytherapy catheters. The increased use of tobacco accounts for more than 20% of cancer deaths globally every year, according to the American Cancer Society.

However, the increased preference of external radiation therapy or non-invasive procedure for treating cancer among the patients as compared to the invasive technique through brachytherapy catheters is estimated to act as a barrier to the market growth during the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global brachytherapy catheters market which includes company profiling of Hologic, Varian Medical Systems, Cianna Medical, Merit Medical Systems and TeamBest. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.