Internal Beam Radiotherapy Market is Set to Garner Staggering Revenues by 2026
Internal beam radiation therapy involves short distance therapy. It is commonly known as brachytherapy and is used in highly targeted treatments, especially in cases of breast, cervix, prostrate, and skin cancer. The internal beam radiation therapy procedure involves placing of radioactive material inside a human body. The radioactive material is placed either close to or on the tumor. The process of internal beam radiation causes the delivery of radiation directly to the tumor, and hence, does not affect the healthy tissues of cells of the body. The internal beam radiation therapy allows giving radiation of high dose which also reduces the duration of radiation from weeks to radiation. Hence, this is likely to lessen the number of radiation cycle to patients. The internal beam radiation therapy causes less harm to other cells and tissues, which in turn, is expected to reduce the side effects caused during radiation. In case of prostate cancer, the therapy is likely to prevent surgery and destroy the tumor.
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The internal beam radiation therapy market can be segmented by dose of radiation, mode of administration, end-user, and geography. In terms of dose of radiation, the market is segmented into high dose radiation and low dose radiation. In the high dose radiation segment, the radiation source is placed near or close to the tumor for few minutes and then removed. The process is repeated twice or once a day for a few weeks. In the low dose radiation segment, the radiation source is placed on or close to the tumor for 7 days continuously. This procedure requires hospital stay since lying in one position is compulsory. By mode of administration, the market is segmented into interstitial radiation and intracavity radiation. In terms of end-user, the market is segmented into multi-specialty hospitals, cancer research institutes, and ambulatory surgical centers.
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On the basis of geography, the internal beam radiotherapy market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of geography, North America accounts for a high market share in terms of revenue owing to high incidence of cancer, rise in awareness about cancer treatments, and introduction of technological advanced instruments. Europe holds the next significant market share after North America in terms of revenue due to high incidence rate and increase in research activities in the area of radiotherapy. According to a report published by American Cancer Society, about 589,430 Americans are expected to die of cancer in 2016, which accounts to 1,620 people per day. In the U.S., cancer is the second leading cause of death, exceeded only by heart disease. The Asia Pacific market is witnessing a high growth rate due to increase in number of cancer patients, growth in demand for rapid diagnostic techniques, and rise in health care expenditure. However, other regions such as Middle East, Latin America, and South East Asia are expected to be the prospective markets in the near future. High adoption rate of technologically advanced instruments and the rapidly developing health care industry are the driving factors that are likely to make these regions the potential markets in the near future.
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The global internal beam radiotherapy market is witnessing an admirable growth owing to rise in prevalence of cancer, increase in patient awareness levels regarding early disease diagnostics, growth in demand for rapid and efficient diagnostic and management techniques, and increase in adoption of the latest technologies. In addition, increase in health care expenditure, favorable government initiatives, and a relatively large untapped market around the globe are some key factors driving the growth of the internal beam radiotherapy market. However, high costs associated with the therapy and unfavorable reimbursement scenarios are factors that may hinder the growth of the market.
Key players in the internal beam radiotherapy market are Eckert & Ziegler BEBIG, C. R. Bard, Inc., Elekta AB, Theragenics Corporation, Xoft, Inc., and Standard Imaging Inc.