U.S. Prostate Cancer Treatment Device Market: Current Analysis and Forecast (2021-2027)

U.S. Prostate Cancer Treatment Device Market: Current Analysis and Forecast (2021-2027)

The U.S. prostate cancer treatment device market is predicted to grow at a CAGR of around 5% during the forecast period. Prostate cancer starts when cells in the prostate gland start to grow out of control and the high prevalence of prostate cancer in the nation is anticipated to push up the demand for different treatment devices and therapies such as cryotherapy, surgery, and radiotherapy. In addition, prostate cancer can be cured, when diagnosed and treated in the early stages. There are some major treatment procedures available for prostate cancer such as Prostatic artery embolization (PAE), surgery, radiation, cryotherapy, hormone therapy, and chemotherapy. Furthermore, there are some major factors of driving the growth of this market are the rising geriatric population, the increasing cases of prostate cancer, unhealthy diet, and increased production of testosterone and other hormones. For instance, according to the American Cancer Society (ACS), in 2022, about 268,490 new cases and about 34,500 deaths from prostate cancer have been registered in the U.S.

Insights Presented in the Report
"Amongst Type, radiation segment dominated the market in 2020

Based on Type, the U.S. prostate cancer treatment device market is segmented into radiation, surgery, HIFU (High-Intensity Focused, Ultrasound), cryotherapy, and others. The radiation category device segment accounted for the largest market share with the highest CAGR during the forecast period. owing to factors such as decreased length of hospital stay, and faster recovery. In addition, there are some radiation therapies are available like External radiation therapy, internal radiation therapy, and radiopharmaceutical therapy used to treat prostate cancer. Also, the development and approval of new technologies for the treatment of prostate cancer are anticipated to drive the growth of this segment. For instance, in March 2022, the U.S. FDA approved Novartis Pluvicto as the first targeted radioligand therapy for the treatment of progressive, PSMA-positive metastatic castration-resistant prostate cancer.
"Amongst End-User, the hospitals and clinics segment is likely to capture significant market share during the foreseeable future

Based on end-users, the global market is categorized into hospitals & clinics, specialty centers, and others. In 2020, the hospitals and clinics category held a significant share in the market and is expected to grow with a strong CAGR during the forecast period. This is mainly due to a growing number of hospitals owing to the increasing preference of patients for hospitals-based procedures, availability of skilled healthcare professionals, surgical equipment in hospitals such as HIFU, high-frequency X-ray machines, ease of monitoring the condition of the patient, and favorable reimbursement scenarios are contributing to the growth of the segment.
"California to witness significant growth during the forecast period”

For a better understanding of the market, the report provides a detailed analysis of major states in the U.S. including California, Texas, Florida, New York, Pennsylvania, and others. In 2020, California accounted for a significant market share. This is mainly due to ongoing industrialization and growing consumer inclination toward healthcare, which have fueled manufacturing output levels, positively influencing the U.S. prostate cancer treatment device market industry landscape. In addition, some other factors such as the elderly population, rising cases of prostate cancer, well-established healthcare infrastructure, and high income in this region are some key factors that will drive the market growth rate in this region. Additionally, the growing number of people undergoing diagnosis and treatments due to the rise in prostate cancer also promotes the growth of the industry. For instance, according to NCBI in 2022, the proportion of prostate cancer diagnosed at a distant stage increased from 3.9% to 8.2% over the past decade.

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