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Brachytherapy Treatment Planning Systems Market- Growth, Trends, Covid-19 Impact, And Forecasts (2022 - 2027)

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  • 115 Pages
  • August 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 5616973
The Brachytherapy Treatment Planning Systems Market is projected to register a CAGR of 9.30% during the forecast period (2022-2027).

During the pandemic, radiation oncology departments across the country implemented strict guidelines, including temperature checks for patients and staff members, prescreening for COVID-19 symptoms before each patient visit, social distancing in the waiting room, limiting visitors, providing surgical masks to patients, and personal protective equipment for staff members, as part of their respective hospitals' initiatives. Brachytherapy is still an important therapeutic option for patients, and it may help to reduce treatment time and exposure in some cases. During COVID-19, it is critical to limit patient exposure and resource use.

The increasing prevalence of cancerous disorders is expected to drive the market. Globally, there will be 28.4 million new cancer cases identified in 2040, according to Globocan forecasts. Through their novel oncology care sector, which is expected to sustain growth over the next years, market participants are focused on creative product development techniques to diversify their product portfolio and satisfy unmet medical need areas. Increased integration of AI/ML- Artificial Intelligence/Machine Learning algorithms in cancer care medicines, rising public-private partnerships & growing investments in cancer care segments, and rising demand for advanced care solutions are all driving market expansion. With the advent of breakthrough technologies capable of dramatically impacting the industry, the radiation therapy sector is constantly evolving and progressing. The industry is expected to have profitable growth in the next years because of improving healthcare infrastructure and rising healthcare spending.

Furthermore, the use of AI/ML- Artificial Intelligence/Machine Learning algorithms in cancer detection and screening will aid market expansion. These innovative algorithms aid healthcare practitioners in the planning of brachytherapy treatments and improve outcomes with little collateral tissue injury. Market participants are integrating AI/ML- Artificial Intelligence/Machine Learning algorithms into their existing services as demand for these solutions grows. The American College of Radiology established the Data Science Institute to promote collaboration among public and private organizations, oncologists, radiologists, and other healthcare professionals to improve the incorporation of AI/ML- Artificial Intelligence/Machine Learning algorithms in oncology treatment solutions. Medical technology procedures are always evolving, which helps to improve accuracy and precision while also improving the patient treatment experience. Recent advancements in radiation technology have resulted in widespread adoption and application in treatment planning, treatment simulation, and image guidance. Furthermore, organizations are increasing their strategic investments and endeavors in cancer care, which is propelling the industry forward. Governments all over the world are putting a greater emphasis on healthcare infrastructure and taking the necessary steps to build or improve it, as well as improve therapeutic delivery. Government and regulatory authorities have been making huge modifications to the healthcare infrastructure in emerging countries over the last few years, all with the goal of enhancing healthcare delivery and involving all sectors of the population. Increased attention to healthcare infrastructure is expected to enhance public investment, reliability, and the speed with which neurological illnesses are diagnosed and treated, resulting in new opportunities and propelling the market.

Key Market Trends

The Auto-Contouring Software Segment is Expected to Hold a Major Market Share in the Brachytherapy Treatment Planning Systems Market

To analyze the discrepancies between several datasets, automated contouring software is routinely utilized. However, no universally recognized contouring approach has been publicly advocated. Image-guided radiation therapy-IGRT technologies are utilized to simplify the complex procedures involved in radiotherapy multimodality for better and more understandable results.

The growing popularity of radiation operations is driving the development of automated contouring radiotherapy software. According to the National Institutes of Health, radiotherapy alone delivers a 5-year survival benefit in 2.4 % of all cancer patients, and when paired with chemotherapy, this number rises to 0.3 %. Every year, the number of cancer sufferers worldwide increases. Automated contouring radiotherapy software is entirely reliant on the type of radiotherapy equipment used, and with the rising incidence of oncological patients, demand for automated contouring radiotherapy software is on the rise. Additionally, increased government financing for sophisticated medical treatment research with a focus on patient safety is likely to support the global market's revenue growth. Because of expanding healthcare concerns and changing government laws aimed at reducing treatment errors, automated contouring radiotherapy software for radiation devices has a high penetration rate, making it easier and more efficient to assess oncological situations.

North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period

Because of the fast developing healthcare infrastructure and rising healthcare spending, North America dominated the global market and accounted for the biggest revenue share. The rising cancer rates combined with an aging population is expected to drive the market. According to the American Cancer Society, Inc., 1.9 million new cancer cases will be diagnosed, and 609,360 cancer deaths will occur in the United States in 2022. In 2021, about 1.9 million new cancer cases were expected to be diagnosed in the United States, with 608,570 cancer deaths expected, and in 2020, about 1.8 million new cancer cases were diagnosed with 606,520 cancer deaths expected. In North America, these factors are driving the desire for innovative technological solutions in cancer care. The expansion of the regional market is being driven by the availability of suitable healthcare and cancer care facilities, as well as an increase in the number of cancer research institutes. Another element driving the market growth is the availability of a favorable reimbursement framework. In North America, the growing number of product advancements in the cancer care market is assisting in the reduction of cancer-related mortality. The healthcare industry is evolving, and digital literacy is increasing in various nations, promoting the market growth.

The market is developing in tandem with the rising prevalence of cancer and the growing number of radiation institutes with technology for improved brachytherapy treatment planning. The number of well-developed and technologically advanced radiotherapy centers has increased in recent years. Because of 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, brachytherapy treatment planning, and patient care management is becoming more popular. The global market is being driven by the increased prevalence of cancer, technical improvements, and the advantages offered by intraoperative radiotherapy over conventional radiation. The expanding number of clinical trials investigating the use of intraoperative radiation for various cancer applications is likely to provide market participants with lucrative growth prospects.

Competitive Landscape

The Brachytherapy Treatment Planning Systems Market is fragmented and competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Elekta AB, Varian Medical Systems, MIM Software, RaySearch Laboratories, Prowess Inc., ALCEN, Theragenics Corporation, Eckert & Ziegler BEBIG, Sensus Healthcare Inc., IsoRay, Inc., IsoAid, C4 Imaging, and Concure Oncology.

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Table of Contents

1.1 Study Assumptions & Market Defination
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Investments And Strategic Initiatives In Radiation Therapy and Rising Adoption Of Ai/Ml-c in Oncology Software
4.2.2 Increasing Prevalence Of Cancer
4.2.3 Increasing Healthcare IT Expenditure
4.3 Market Restraints
4.3.1 Shortage Of Healthcare Personnel In Information Technology And Radiology Sector
4.3.2 Cybersecurity And Privacy Concerns
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1 By Component
5.1.1 Auto-Contouring Software
5.1.2 Multi-Modality Software
5.1.3 PET/CT Deformable Software
5.1.4 DICOM-RT Software
5.2 By Technique
5.2.1 3D Image Reconstruction
5.2.2 In-Room Imaging
5.2.3 Image Registration using Graphics Processor Unit
5.3 Geography
5.3.1 North America United States Canada Mexico
5.3.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.3.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.3.4 Middle-East and Africa GCC South Africa Rest of Middle-East and Africa
5.3.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 Elekta AB
6.1.2 Varian Medical Systems
6.1.3 MIM Software
6.1.4 RaySearch Laboratories
6.1.5 Prowess Inc.
6.1.6 ALCEN
6.1.7 Theragenics Corporation
6.1.8 Eckert & Ziegler BEBIG
6.1.9 Sensus Healthcare Inc.
6.1.10 IsoRay, Inc.
6.1.11 IsoAid
6.1.12 C4 Imaging
6.1.13 Concure Oncology

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Elekta AB
  • Varian Medical Systems
  • MIM Software
  • RaySearch Laboratories
  • Prowess Inc.
  • Theragenics Corporation
  • Eckert & Ziegler BEBIG
  • Sensus Healthcare Inc.
  • IsoRay, Inc.
  • IsoAid
  • C4 Imaging
  • Concure Oncology