Brachytherapy Treatment Planning Systems Industry Overview

The global brachytherapy treatment planning systems market size was valued at USD 703.5 million in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 9.3% from 2022 to 2030.

The rapidly growing prevalence of cancer and cancer-related mortality across the globe is accelerating the demand for innovative cancer care therapies. The growing demand for accurate precise diagnoses to prevent cancer-related mortality through adequate timely treatment plans is boosting the demand for brachytherapy treatment planning systems. Radiation therapy is gaining acceptance in cancer care solutions as one of the most cost-effective treatments owing to its accuracy and efficiency. According to an article published by the International Journal of Medical Sciences, approximately 50% of cancer patients are opting for radiation therapy.

Gather more insights about the market drivers, restrains and growth of the Global Brachytherapy Treatment Planning Systems Market

According to the Globocan 2020 estimates, in 2020, there were approximately 19.3 million cancer cases detected across the globe and some of the most common cancers detected were prostate cancer (7.3%), breast cancer (11.7%), colorectal cancer (10.0%), and lung cancer (11.4%). Further estimates predict a sharp increase of 47% in the caseload in 2040 as compared to 2020. According to the Globocan estimates, there would be 28.4 million new cancer cases diagnosed in 2040 across the globe. Market players are focusing on innovative product development strategies to diversify their product portfolio and serve unmet medical need areas through their innovative oncology care segment, which is anticipated to support growth over the coming years.

Advancements in the healthcare IT sector and growing healthcare infrastructure, increasing integration of AI/ML algorithms in cancer care therapies, rising public-private partnerships growing investments in cancer care segments, and rising demand for advanced care solutions are also propelling the market growth. The radiation therapy sector is undergoing constant innovations and advancements with the emergence of novel technologies capable of significantly transforming the market. Through the support of advancing healthcare infrastructure and growing healthcare spending, the market is anticipated to witness lucrative growth over the forthcoming years.

Key participants are focusing on growth opportunities in emerging economies with the development of healthcare infrastructure and growing digital healthcare literacy. Furthermore, favorable government initiatives and the promotion of public-private partnerships in cancer care and radiation therapy will boost product innovation and development. For instance, the Australian government launched Victorian Cancer Plan 2020-2024 to improve cancer care strategies and cancer outcomes through early detection and timely treatment. In 2019, Barwon Health Foundation collaborated with Varian Medical Systems to inaugurate Andrew Love Cancer Center Chemotherapy Day Ward and Oncology Pharmacy to improve the accessibility of brachytherapy treatment planning solutions.

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Market Share Insights

• August 2020: Elekta entered into an agreement with Healthcare Global Enterprises Ltd. (HCG) for the installation of various linac systems, such as Versa HD, Elekta Unity, and Elekta Synergy in India. This service agreement will help the company in gaining a foothold in the Indian market. 
• February 2020: MIM Software collaborated with Isoray, Inc. to develop an innovative one-stop solution for head and neck cancer care services.

Key Companies Profile

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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