Growing Prevalence of Prostate Cancer Fueling Expansion of U.S. Prostate Cancer

Posted by Pramod Arya on January 14th, 2021

The U.S. prostate cancer treatment devices market attained a value of .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 7.1 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.

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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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The U.S. prostate cancer treatment devices market registered the highest growth in California in the past. This was because of the presence of numerous specialty centers and hospitals, the high incidence of prostate cancer, and the abundant availability of various advanced treatment procedures for the disease in the state. As per the American Cancer Society, California is predicted to observe the highest number of new prostate cancer cases in the country (20,160) in 2020.

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.