Wilmington, Delaware, United States, Jan. 13, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global prostate cancer minimally invasive surgery market is expected to grow at a CAGR of 3.6% from 2022 to 2031. Prostate cancer starts in the prostate gland cells and mostly occurs in men. Minimally invasive surgeries are commonly preferred to treat prostate cancer. These surgeries employ specialized techniques and instruments to remove the tumor tissue while ensuring the least pain or damage to surrounding healthy tissues. Minimally invasive surgeries used to treat prostate cancer include cryotherapy, robotic surgery, and laparoscopic surgery.
The prostate cancer minimally invasive surgery market is being driven by the growing prevalence of the disease and an increase in the popularity of minimally invasive surgeries. When compared to the traditional type of treatment methods such as open surgery, minimally invasive surgery in cases of prostate cancer offers several advantages, such as less pain, faster recovery, and shorter hospital stays, along with fewer complications in the form of hospital acquired infections.
According to the TMR report, the global prostate cancer minimally invasive surgery market was valued at US$ 2.7 Bn in 2021 and is anticipated to reach US$ 3.9 Bn by the end of 2031. Rise in cases of prostate cancer worldwide is anticipated to boost overall industry growth in the next few years.
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Key Findings of Study
- Government Efforts to Promote Adoption of Minimally Invasive Surgeries to Boost Market Expansion: Companies operating in the market are collaborating with governments of various nations to promote the adoption of minimally invasive surgeries for the treatment of prostate cancer. Heavy investments in research and development activities and government-supported funding for surgeons and hospitals are further projected to fuel the prostate cancer minimally invasive surgery market expansion during the forecast period.
- Increase in Adoption of Laparoscopic Surgery to aid Market Growth: Laparoscopic surgery has proved to be highly effective in treating cases of prostate cancer. This is due to the use of specialized instruments that cause minimum harm to the surrounding healthy tissues. Minimal loss of blood in laparoscopic surgery is also a key factor prompting patients of prostate cancer to opt for this surgery. This is also expected to help create new business opportunities for the overall prostate cancer minimally invasive surgery market during the forecast period.
Key Drivers
- Increase in prevalence of prostate cancer is likely to bolster market growth during the forecast period
- Rise in preference for minimally invasive surgeries to treat prostate cancer is expected to fuel market progress during the forecast period
- Use of radiation therapy for early-stage detection and treatment of prostate cancer is anticipated to propel market development in the next few years
Regional Growth Dynamics
- North America emerged as the dominant region and held largest market share, owing to the presence of leading players and high preference for minimally invasive surgeries in the region. Substantial awareness and high disposable incomes of people are also expected to help the region to maintain its dominant share of the global market in the near future.
- The Asia Pacific market is expected to grow at a significant CAGR during the forecast period owing to rise in prevalence of prostate cancer and the advent of latest therapeutic practices to treat it in emerging economies such as India. Additionally, rise in disposable income of people and the high success rate of minimally invasive surgeries are expected to boost the market in the region, in terms of revenue, during the forecast period.
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Key Players
Some notable players operating the global prostate cancer minimally invasive surgery market include Teleflex Incorporated, Olympus Corporation, Intuitive Surgical, Becton, Dickinson and Company, AngioDynamics, Siemens Healthcare GmbH, Medtronic, Ethicon Endo-Surgery, Inc. (Johnson & Johnson Services, Inc.), and B. Braun SE.
Prostate Cancer Minimally Invasive Surgery Market Segmentation
Procedure
- Laparoscopic Surgery
- Robotic Surgery
- Radiation Therapy
- Cryosurgery
- Others
Stage
- Early-stage Prostate Cancer (Stages I and II)
- Locally Advanced Prostate Cancer (Stage III)
- Advanced Prostate Cancer (Stage IV)
End-user
- Hospitals
- Specialty Clinics
- Ambulatory Surgery Centers
Regions
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America
Countries
• U.S.
• Canada
• Germany
• U.K.
• France
• Spain
• Italy
• China
• India
• Japan
• Brazil
• Mexico
• GCC
• South Africa
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