U.S. Prostate Cancer Treatment Devices Market Key Segments, Size and Future Potential
The U.S. prostate cancer treatment devices market attained a value of $95.9 million in 2019 and is predicted to grow at a CAGR of 5.6% between 2020 and 2030. According to the forecast of P&S Intelligence, a market research firm based in India, the market would reach a valuation of $157.1 million by 2030.
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In the U.S., prostate cancer is the second most common cancer, after skin cancer, affecting men. As per surveys and reports, one man out of every nine men suffer from prostate cancer in the country. According to the American Cancer Society (ACS), in the U.S., prostate cancer is one of the most highly prevalent cancers among males. Furthermore, the organization predicts that the country would witness as many as 191,930 new prostate cancer cases in 2020.
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Based on type, the U.S. prostate cancer treatment devices market is divided into cryotherapy, radiation, high-intensity focused ultrasound (HIFU), and surgery. Out of these, the radiation category is predicted to exhibit the fastest growth in the market in the forthcoming years. This would be because of the growing preference for radiation devices for patient treatment over others all over the world. Additionally, the advent of several advanced devices is propelling the advancement of the category in the market.
Thus, it can be said with certainty that the market would demonstrate substantial growth in the upcoming years, mainly because of the rising incidence of prostate cancer and the surging government spending on healthcare in the country.