Prostate Cancer Minimally Invasive Surgery Market Size is Envisioned to Grow at a CAGR of 3.6% and reach USD 3.9 billion by 2031|Report by TMR
Prostate cancer is one of the most prevalent forms of cancer among men. The rising incidence of this disease is propelling the market’s growth as more patients seek effective treatment options.
Wilmington, Delaware, United States, Nov. 01, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. The global prostate cancer minimally invasive surgery market stood at US$ 2.9 billion in 2022 and is projected to reach US$ 3.9 billion in 2031. The global prostate cancer minimally invasive surgery market is anticipated to expand at a CAGR of 3.6% between 2022 and 2031.
The prostate cancer minimally invasive surgery market is witnessing significant growth due to two primary drivers: the increasing prevalence of prostate cancer and the rising demand for minimally invasive surgical procedures. Prostate cancer is a widespread health concern, particularly among the male population, and it has led to a surge in the adoption of minimally invasive surgeries as an effective treatment option.
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Prostate cancer is one of the most commonly diagnosed cancers in men worldwide. The escalating incidence of this disease is a driving force behind the market’s expansion, as more patients seek treatments that can offer improved outcomes with reduced post-operative complications. Minimally invasive surgery presents numerous advantages for prostate cancer patients, including shorter hospital stays, quicker recovery periods, diminished post-operative discomfort, and a lower risk of complications. As a result, it has become an increasingly preferred choice among patients and healthcare providers.
The landscape of minimally invasive surgery for prostate cancer has witnessed remarkable advancements. These include the development of cutting-edge surgical technologies, such as robotic-assisted surgery and laparoscopy, which enhance precision and accuracy in surgical procedures. The availability of these advanced techniques has revolutionized the field, making minimally invasive surgeries more accessible and practical. Medical device companies and surgeons are collaborating to refine these technologies, ultimately improving patient outcomes.
Global Prostate Cancer Minimally Invasive Surgery Market: Key Players
- B. Braun SE
- Becton, Dickinson and Company
- Ethicon Endo-Surgery, Inc. (Johnson & Johnson Services, Inc.)
- Intuitive Surgical
- Olympus Corporation
- Siemens Healthcare GmbH
- Teleflex Incorporated
Key Takeaways of Market Report
- Global market to generate absolute dollar opportunity worth US$ 3.9 billion until 2031.
- Global market from 2022 to 2031 is 3.6%
- The global market is valued at US$ 2.7 billion in 2021.
- Global market stood at US$ 2.9 billion in 2022.
Prostate Cancer Minimally Invasive Surgery Market: Growth Drivers
- The laparoscopic surgery procedure segment has emerged as the dominant force in the prostate cancer minimally invasive surgery market, and it is expected to continue its reign throughout the forecast period. Laparoscopic surgery stands as a highly effective treatment option for prostate cancer patients, offering a range of benefits for those who are suitable candidates.
- Early-stage prostate cancer typically exhibits slow growth and may remain asymptomatic for extended periods, often spanning several years before manifesting symptoms or health issues. For these patients, radiation therapy, whether in the form of an external beam or brachytherapy, may be a suitable treatment option.
- However, laparoscopic prostatectomy, also known as robotic prostatectomy, stands out as a minimally invasive alternative to radical prostatectomy. This procedure can significantly reduce recovery times for early-stage prostate cancer patients, thereby improving their overall quality of life.
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Prostate Cancer Minimally Invasive Surgery Market: Regional Landscape
- North America significantly impacted the prostate cancer minimally invasive surgery market in 2021. This can be attributed to several key factors contributing to the region’s prominence. North America boasts significant market participants and a well-established healthcare infrastructure, providing a robust foundation for developing and adopting advanced medical procedures.
- In addition, the high incidence of prostate cancer in the region has significantly driven market growth. These factors collectively underline North America’s substantial share of the prostate cancer minimally invasive surgery market.
- The Asia Pacific region is expected to experience rapid growth in the prostate cancer minimally invasive surgery market during the forecast period. Several factors are contributing to this anticipated growth trajectory. First, there has been a surge in the prevalence of prostate cancer in the region, accentuating the demand for advanced treatment options. The growing geriatric population in Asia Pacific, along with evolving lifestyle habits such as smoking and unhealthy diets, is also fueling the rise in prostate cancer cases.
Prostate Cancer Minimally Invasive Surgery Market: Key Developments
- Intuitive Surgical Inc.’s Indian division has introduced an innovative platform called the “My Intuitive App.” This platform caters to surgeons utilizing the da Vinci surgical systems within the Indian healthcare landscape. The My Intuitive App is pivotal in transforming surgery data into actionable insights for surgeons, enhancing their ability to make informed decisions and deliver precise medical care.
Prostate Cancer Minimally Invasive Surgery Market: Segmentation
- Laparoscopic Surgery
- Robotic Surgery
- Radiation Therapy
- Early-stage Prostate Cancer (Stages I and II)
- Locally Advanced Prostate Cancer (Stage III)
- Advanced Prostate Cancer (Stage IV)
- Specialty Clinics
- Ambulatory Surgery Centers
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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