Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Surgery is the widely accepted method in the treatment of prostate cancer. However it has not been proved very successful among the people at late stages (Stage III and Stage IV) as there has not been significant increase in the patients’ quality of life and serious side effects such as urinary incontinence and impotency are also experienced. Laparoscopy, cryosurgery, brachytherapy and robotic surgery are the commonly practices surgical techniques while performing minimally invasive surgeries for the treatment of prostate cancer.
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Statistics:
North America and Europe minimally invasive prostate cancer surgery market is estimated to account for US$ 86,187.4 Mn in terms of value by the end of 2027.
North America and Europe Minimally Invasive Prostate Cancer Surgery Market: Drivers
R&D of new approaches is expected to propel growth of North America and Europe minimally invasive prostate cancer surgery market over the forecast period. For instance, in December 2019, researchers from Profound Medical reported that the minimally invasive MRI-guided transurethral ultrasound ablation (Tulsa) treatment effectively treats prostate cancer with minimal side effects.
North America and Europe Minimally Invasive Prostate Cancer Surgery Market: Restraints
Side effects of prostate cancer surgery include, decrease in quality of life, impotency, and urinary incontinence. Radiation therapy has not had a significant effect on the survival rate of advanced stage prostate cancer patients. It also leads to side effects such as bowel dysfunction and the risk of getting other secondary cancers. Such side effects are expected to hinder growth North America and Europe minimally invasive prostate cancer surgery market.
Key Takeaways:
North America and Europe minimally invasive prostate cancer surgery market was valued at US$ 34,960.2 Mn in 2019 and is forecast to reach a value of US$ 86,187.4 Mn by 2027 at a CAGR of 11.9% between 2020 and 2027. Increasing prevalence of prostate cancer is expected to propel the market growth during the forecast period
Monitoring & Visualization segment held dominant position in North America and Europe minimally invasive prostate cancer surgery market in 2019, accounting for 40.5% share in terms of value. Increasing product approvals and increasing investment in research and development is expected to drive the market growth.
Market Trends
The market is expected to face stringent clearance process on high-intensity ultrasound systems for prostate tissue ablation. For instance, in June 2019, The U.S. Food and Drug Administration issued new draft guidance on clinical testing that manufacturers of these devices must conduct, in accordance with special controls. The draft guidance also outlines recommended clinical data to support 510(k) applications for such devices that use newer, more innovative technologies or forms of energy to ablate (or destroy) prostate tissue.
Major players in the market are focused on R&D of new products to expand their product portfolio. For instance, in May 2020, AngioDynamics received the U.S. Food and Drug Administration approval for its investigational device exemption application for NanoKnife irreversible electroporation pilot study.
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North America and Europe Minimally Invasive Prostate Cancer Surgery Market: Competitive Landscape
Major players operating in North America and Europe minimally invasive prostate cancer surgery market include Angiodynamics, Inc., Profound Medical, BSD Medical Corporation, Medtronic Plc, Ethicon Endo-Surgery, Inc., Olympus Corporation, Siemens Healthcare, Intuitive Surgical, Inc., and Teleflex, Inc.
North America and Europe Minimally Invasive Prostate Cancer Surgery Market: Key Developments
Major players in the market are focused on approval and launch of new products to expand their product portfolio. For instance, in June 2018, Edap received the U.S. Food and Drug Administration 510(k) clearance for its Focal One device designed for prostate tissue ablation procedures.
Segmentation
Scope of the report
- North America and Europe Minimally Invasive Prostate Cancer Surgery Market, By Product Type:
- Hand
- Resectoscope
- Linear Cutter
- Insufflators
- Curved Stapler
- Endoscopic Trocars
- Prostatic Retractor
- Cryoablation Device
- Others
- Monitoring & Visualization
- Cameras & Video Support
- Endoscopic Trocars with Optical View
- Powered
- Electrosurgical Unit
- Lasers
- Hand
- North America and Europe Minimally Invasive Prostate Cancer Surgery Market, By Application:
- Laparoscopy
- Robotics Surgery
- Brachytherapy
- Cryosurgery
- North America and Europe Minimally Invasive Prostate Cancer Surgery Market, By Region:
- North America
- By Product Type:
- Hand
- Resectoscope
- Linear Cutter
- Insufflators
- Curved Stapler
- Endoscopic Trocars
- Prostatic Retractor
- Cryoablation Device
- Others
- Monitoring & Visualization
- Cameras & Video Support
- Endoscopic Trocars with Optical View
- Powered
- Electrosurgical Unit
- Lasers
- Hand
- By Application
- Laparoscopy
- Robotics Surgery
- Brachytherapy
- Cryosurgery
- By Country
- U.S.
- Canada
- By Product Type:
- Europe
- By Product Type:
- By Application
- By Country
- U.K.
- Germany
- France
- Spain
- Italy
- Russia
- Rest of Europe
- North America
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