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How Is Robotic Prostatectomy Boosting U.S. Prostate Cancer Treatment Devices Market Growth?
The surging prevalence of prostate cancer, mounting geriatric population, and soaring number of government initiatives are expected to drive the U.S. prostate cancer treatment devices market at a CAGR of 5.6% during the forecast period (2020–2030).
By: P&S Intelligence
Browse In-depth U.S. Prostate Cancer Treatment Devices Market Regional Breakdown (https://www.psmarketresearch.com/
The U.S. prostate cancer treatment devices market growth is driven by the surging incidence of prostate cancer in the country. The Centers for Disease Control and Prevention (CDC) says that prostate cancer is the most-prevalent cancer among the male residents of the country after non-melanoma skin cancer. It is also one of the major causes of cancer deaths among American men. Further, the American Cancer Society (ACS) estimates that the country will record 248,530 new cases of prostate cancer and 34,130 deaths from it in 2021.
Currently, the market is witnessing strategic agreements and mergers and acquisitions among key players. Market players are taking these strategic measures to gain a competitive edge. For instance, in May 2020, EDAP TMS SA signed an exclusive distribution agreement with Exact Imaging to market the micro-ultrasound diagnostic devices of the latter alongside its Focal One high-intensity focused ultrasound (HIFU) treatment solution. The amalgamation of these technologies has created a complete end-to-end solution for those suffering from tumors of the prostate gland.
According to P&S Intelligence, California accounted for the largest share in the U.S. prostate cancer treatment devices market in 2019, and it is expected to maintain the lead throughout the forecast period. This can be ascribed to the burgeoning cases of prostate cancer, soaring number of hospitals and specialty care centers, and rising availability of advanced treatment equipment in the state. According to the ACS, California is expected to record around 187,140 new cases of prostate cancer and nearly 61,860 related deaths in 2021.
Thus, the growing prevalence of prostate cancer in the U.S. and increasing preference for radio-based RP will drive the demand for prostate cancer treatment devices in the country.