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U.S. Prostate Cancer Treatment Device Market Research Report: By Type, End User - Industry Analysis and Growth Forecast to 2030

U.S. Prostate Cancer Treatment Device Market Research Report: By Type, End User - Industry Analysis and Growth Forecast to 2030

  • September 2020
  • 124 pages
  • ID: 5987928
  • Format: PDF
  • Prescient & Strategic Intelligence Private Limited

Summary

Table of Contents

U.S. Prostate Cancer Treatment Device Market Research Report: By Type (Radiation, Surgery, High-Intensity Focused Ultrasound, Cryotherapy), End User (Hospitals, Specialty Centers) - Industry Analysis and Growth Forecast to 2030

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. The main factors driving the progress of the market are the increasing number of prostate cancer cases being recorded in the country every year.

The high prevalence of this diseases is predicted to push up the demand for various treatment devices and equipment such as cryotherapy, surgery, and radiotherapy in the future years, thereby causing the expansion of the U.S. prostate cancer treatment devices market. Apart from this, the increasing number of government initiatives being implemented in the country is also fueling the market advancement. The federal government spends a huge portion of the country’s GDP on healthcare every year.

As per the reports of the National Health Expenditure Accounts (NHEA), healthcare expenditure in the U.S. increased by as much as 4.3% and reached $3.3 trillion in 2016. This percentage further grew to 5.4% in 2017. The soaring healthcare expenditure is making the management and treatment of various diseases more affordable than they were before, which is, in turn, fueling the expansion of the U.S. prostate cancer treatment devices 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.

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