The global brachytherapy treatment planning systems market size is expected to reach USD 1.5 billion by 2030, registering a CAGR of 9.3% over the forecast period, according to a new report by Grand View Research, Inc. The global prevalence of cancer and cancer-related mortality is rapidly rising and driving the demand for innovative cancer care solutions. According to Globocan 2020 estimates, in 2020, 19.3 million new cancer cases were detected across the globe. Some of the most commonly diagnosed cancer cases are breast cancer, prostate cancer, lung cancer, and colorectal cancer. According to the WHO, globally, cancer is a leading cause of death claiming one in every six lives.
Brachytherapy Treatment Planning Systems Market Report Highlights
- In 2021, the auto-contouring software segment dominated the market owing to the multiple benefits offered by auto-contouring software over manual contouring
- In-room imaging segment dominated the market in 2021 owing to the reduction of therapy uncertainties and improved precision treatment
- North America was the largest regional market in 2021 owing to the high cancer prevalence and the presence of a favorable reimbursement framework & advanced healthcare infrastructure
- Market players are integrating Artificial Intelligence (AI) and Machine Learning (ML) algorithms in their product offerings to improve screening & diagnosis, simulation, treatment planning, and care management
- The integration of AI/ML has significantly improved clinical decision support, data mining, diagnosis, and imaging segments of oncology care. These algorithms can be used for image segmentation and detection of areas of clinical importance
- According to Renal & Urology News, in February 2020, AI algorithms integrated with cancer care have had a positive impact on brachytherapy effectiveness on men with prostate cancer
- The massive piling & accumulation of cancer-related data, increasing need for timely diagnosis, and high demand for tailor-made cancer treatment plans are boosting the adoption of AI/ML into oncology
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The dramatically rising prevalence of cancer is boosting the demand for innovative cancer care therapies with precise and accurate outcomes. The oncology care industry is witnessing a surge in innovations and investments by key participants developing novel technologies, which are anticipated to significantly transform the cancer care treatment regime. Constantly evolving healthcare infrastructure, increasing healthcare IT spending, and the unraveling of growth opportunities in emerging economies is propelling the market growth. Various government bodies and agencies across the globe are promoting public-private partnerships to boost product development strategies.
Along with the growing prevalence of cancer, the rising number of radiotherapy centers with technologies for better brachytherapy treatment planning is boosting the market growth. In recent years, the number of well-developed and technologically advanced radiotherapy centers is increasing. The adoption of brachytherapy treatment planning and patient care management is increasing due to the availability of better radiotherapy centers, public-private partnerships for the establishment of better facilities, and strategic collaborations of major players with radiotherapy centers for providing technologically advanced machines with enhanced treatment planning and delivery software & tools.
COVID-19 Impacts On Brachytherapy Treatment Planning Systems Market:
The global impact of the COVID-19 pandemic was unexpected and unprecedented impacting every company’s fiscal year performance due to a significant decline in demand and supply chain disruptions. However, the market was not impacted drastically owing to the growing adoption of brachytherapy treatment planning systems and advancements in AI/ML integration. Oncology radiation planning strategies were being implemented to minimize transmission and hospitals began segregating task forces with personnel as per priority and availability of resources. The market is estimated to witness a steadfast year-on-year growth in the next 5 years.
Brachytherapy Treatment Planning Systems Market Insights By Region:
North America dominated the global market and accounted for the largest revenue share of more than 38% owing to the rapidly advancing healthcare infrastructure and growing healthcare spending. Increasing cancer prevalence coupled with a growing aging population is driving the growth. The presence of a favorable reimbursement framework is another factor responsible for market growth. The rising number of product innovations in the cancer care segment is helping in reducing cancer-related mortality in North America. On the other hand, Asia Pacific is anticipated to register the fastest growth rate over the forecast period owing to the developments in emerging economies, such as China and India. Rising cancer prevalence and cancer-related mortality in this region are majorly responsible for the lucrative growth rate. The advancing healthcare industry and growing digital literacy in several countries is boosting the market growth.
Industry Share Analysis By Key Players:
These key players are devising innovative product development strategies to expand their product portfolio and gain a competitive edge. Companies are collaborating with each other to leverage their technological capabilities. Some of the key participants in the global brachytherapy treatment planning systems market include:
- Elekta AB
- Varian Medical Systems
- MIM Software
- RaySearch Laboratories
- Prowess Inc.
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Brachytherapy Treatment Planning Systems Market Segmentation
Grand View Research, Inc. has segmented the global brachytherapy treatment planning systems market on the basis of component, technique, and region:
Component Outlook
- Auto-Contouring Software
- Multi-Modality Software
- PET/CT Deformable Software
- DICOM-RT Software
Technique Outlook
- 3D Image Reconstruction
- In-Room Imaging
- Image Registration using Graphics Processor Unit
Regional Outlook
- North America
- U.S.; Canada
- Europe
- U.K.; Germany; Spain; France; Italy; Russia
- Asia Pacific
- China; Japan; India; Australia; South Korea
- Latin America
- Brazil; Mexico; Argentina
- Middle East and Africa
- Saudi Arabia; UAE; South Africa
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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