The European brachytherapy market, mainly driven by increasing aging population with higher risk of chronic diseases and increasing age related chronic diseases. The market was valued $50 million in 2013 and is expected to be $54 million by 2018. Brachytherapy involves the implantation of radioactivity within the body to ablate or kill cancer or tumour cells within or in close proximity to the target area in the body.
The report “European Brachytherapy Market Forecast, 2010-2018", analyzes the market of devices into three types of brachytherapy such as high dose rate, pulsed dose rate, and permanent seed. The technique has been successfully used against cervix, prostate, breast and skin cancer.
Factors such as high patient pool, growing preferences to minimally invasive surgery, geographical expansion of market players, increased government investment in healthcare facilities especially in rural areas, westernization in life style and dietary habits, increasing healthcare expenditure & improving medical insurance plans, are driving the European brachytherapy market.
European market is challenging, as it is a heterogeneous region in terms of regulatory and reimbursement approaches, with every country having its own unique characteristics. Recent trends show an increased inclination of companies towards Europe for their preliminary products development and launch. In addition, it is observed that capital investment required for regulatory approval of the product is significantly less than that compared to U.S. Ultimately market players are adopting a strategy to launch their products initially in Europe, as it offers an opportunity to balance the risk-to-reward ratio in case of innovative technologies.
The report also provides an extensive competitive landscaping of companies operating in European brachytherapy market. The key players of the market covered in this report are Varian Medical Systems (U.S), and ELEKTA (Sweden).
The segment and country-specific company shares, News & Deals, M&A, segment-specific pipeline products, product approvals and product recalls of the major companies is also covered in the report.
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