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U.S. Prostate Cancer Treatment Devices Market To Generate $157.1 Million by 2030
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.
In recent years, robotic prostatectomy has become a prominent trend in the U.S. prostate cancer treatment devices market. The adoption rate of robot-assisted radical prostatectomy (RP) is quite high in the U.S. RP, a type of minimally invasive surgery, uses surgical robotic equipment to extract the entire prostate gland. This form of surgery offers advantages such as smaller incisions, lesser blood loss, reduced pain, shorter hospital stays, and lower transfusion rate, in comparison to conventional open surgery with a similar recovery rate.
The type segment of the U.S. prostate cancer treatment devices market is categorized into HIFU, radiation, cryotherapy, and surgery. In 2019, the radiation category generated the highest revenue owing to the high availability of radiation therapy devices, presence of numerous market players, and significant deployment of these systems. Furthermore, the category is also expected to demonstrate the fastest growth during the forecast period, primarily on account of the high acceptance and adoption of radiotherapy and the introduction of advanced equipment.
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.