Surging Demand for Cancer Treatment is Expected to Provide Significant Opportunities to Prostate Cancer Treatment Device Market Players

The U.S. prostate cancer treatment device market is expected to witness a CAGR of around 5% during the forecast period. Prostate cancer is one of the major cancer types in men in the U.S. one out of every nine men in the country is diagnosed with prostate cancer. This is mainly due to the rising geriatric population, family history, and other genetic changes. Moreover, increasing awareness about prostate cancer, and government initiatives or research & development programs, and new drug launches for treating prostate cancers are the major reason for the growth of this market. For instance, according to CMS, U.S. health care spending grew 9.7 percent in 2020, reaching US$ 4.1 trillion or US$ 12,530 per person.

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Based on type, the market is categorized into radiation, surgery, high-intensity focused ultrasound (HIFU), cryotherapy, and others. The radiation category device segment accounted for the largest market share with the highest CAGR during the forecast period. Radiation and high-energy x-ray therapy are used to treat prostate cancer by killing the cancer cells. In addition, the high preference for treatment of radiation therapy over other devices, adoption of radiotherapy, and new launches of advanced equipment are some of the main factors are driving the growth of this market. For instance, according to the Memorial Sloan Kettering Cancer Center (MSKCC), the success rate of prostate cancer treatment with brachytherapy or external beam radiation in the early stages is around 90% or higher can be achieved with either approach.

Based on end-users, the global market is categorized into hospitals & clinics, specialty centers, and others. In 2020, the hospitals and clinics end-user category held a significant share in the market and is expected to grow with a strong CAGR during the forecast period. The growth of this segment is mainly due to the large number of treatment procedures conducted in hospitals, the availability of healthcare professionals & medical equipment facilities, and a better treatment environment. Furthermore, according to American Hospital Association (AHA), there are 6,093 hospitals are available in the U.S.

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Some of the major companies operating in the U.S. prostate cancer treatment device market include SonaCare Medical LLC, Sanofi S.A, EDAP TMS SA, Profound Medical Corporation, Eckert & Ziegler AG, HealthTronics Inc., Boston Scientific Corporation, Elekta AB, Accuracy Incorporated, and Siemens Healthineers (Varian Medical Systems Inc.)

U.S. Prostate Cancer Treatment Device Market Segmentation

Market Insight, by Type

• Radiation
• Surgery• HIFU (High-Intensity Focused Ultrasound)• Cryotherapy• Others

Market Insight, by End-User

• Hospitals & clinics
• Specialty centers• Others

Market Insight, by States

• California
• Texas• Florida• New York• Pennsylvania• Others

Top Company Profiles

• SonaCare Medical LLC
• Sanofi S.A• EDAP TMS SA• Profound Medical Corporation• Eckert & Ziegler AG• HealthTronics Inc.• Boston Scientific Corporation• Elekta AB• Accuracy Incorporated• Siemens Healthineers (Varian Medical Systems Inc.)