Prostate Cancer Minimally Invasive Surgery Market Share and Growth Factors Impact Analysis 2017 - 2025
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Rising prevalence of prostate cancer due to rapidly aging population, growing awareness among people, increasing demand for minimally invasive surgery, and advancements in diagnosis techniques is expected to drive the growth of the prostate cancer minimally invasive surgery market. According to World Health Organization (WHO), prostate cancer is the fourth most common cancer in both sexes combined and the second most common cancer in men. In 2012, an estimated 1.1 million men worldwide were diagnosed with prostate cancer, accounting for 15% of the cancers diagnosed in men. With an estimated 307,000 deaths in 2012, prostate cancer is the fifth leading cause of death from cancer in men (6.6% of the total deaths among men).
The prostate cancer minimally invasive surgery market has been segmented by procedure type, stages of disease progression, end-user, and geography. In terms of procedure type, the market has been categorized into laparoscopic prostatectomy, perineal prostatectomy, nerve-sparing robotic radical prostatectomy, brachytherapy, cryosurgery and others. Based on stages of disease progression, the market has been segmented into Stage A, Stage B, Stage C, and Stage D. Based on end user, the market has been segmented into hospitals, clinics, diagnostics centers and others.
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Geographically, the prostate cancer minimally invasive surgery market has been categorized into five regions, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to hold the dominant market share in terms of revenue due to increasing demand and adoption of technologically advanced products and increasing prevalence of prostate cancer. According to Centers for Disease Control and Prevention, in 2014, 172,258 men in the United States were diagnosed with prostate cancer, and 28,343 men died from this disease in the country. Europe is expected to be the second largest market owing to increasing demand for minimally invasive surgery.
The market in Asia Pacific is expected to expand at the highest CAGR during the forecast period due to increasing prevalence of prostate cancer and aging population. According to American Cancer Society, Inc., prostate cancer develops mainly in older men. About 6 cases in 10 are diagnosed in men aged 65 or older, and it is rare before the age of 40. According to Asia-Pacific Regional Office of United Nations Population Fund, by 2050, one in four people in Asia and the Pacific will be over 60 years old. The population of older persons (aged over 60) in the region will triple between 2010 and 2050, reaching close to 1.3 billion people. Major players operating in the global prostate cancer minimally invasive surgery market include Theragenics Corporation, Varian Medical Systems, Inc., C.R. Bard Inc., Intuitive Surgical, Siemens Healthineers, and others.
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