Global Brachytherapy Market Trends
An increase in cancer patients
According to the World Health Organization (WHO), one of the main causes of illness and mortality across the globe is cancer. Approximately 70% of cancer-related deaths take place in low- and middle-income nations. According to the American Cancer Society, the number of cancer patients in these nations is rising, and access to radiation therapy is limited. It is anticipated that this feature would present the current market participants in these locations with novel chances.
Developments in technology
Technological advancements in the realm of oncology treatment and R&D initiatives taken up by the top players are some of the main factors driving the target market's growth. Furthermore, to increase their geographical footprint, the major firms are choosing to acquire smaller competitors. For instance, iCAD uses its subsidiary Xoft to promote the eBx system in the United States. With more than 12,000 tomosynthesis system installation chances in the United States, iCAD calculated, that there is a substantial possibility for CAD in the future and density assessment solutions for tomosynthesis.
The availability of alternatives in the market and increased reimbursement in the field of radiation therapy, however, may limit the worldwide market's expansion throughout the projected period. In the upcoming years, the target market will also be restricted by the treatment's negative effects.