Prostate cancer is a cancer of the prostate gland, which is a part of the male reproductive system. Routine screening, early diagnosis, and recent treatment options have enabled increased survival of prostate cancer patients. Prostate cancer is an abnormal and uncontrolled growth of cells in the prostate gland of a male. It is the second most common cancer after skin cancer in men. It is prevalent in men over the age of 50 years. Risk factors for development of prostate cancer are old age, family history, and race. In the U.S., it is more common among the African-American population than Caucasians.
Rising prevalence of prostate cancer due to rapidly aging population, growing awareness among people, increasing demand for minimally invasive surgery, and advancements in diagnosis techniques is expected to drive the growth of the prostate cancer minimally invasive surgery market. According to World Health Organization (WHO), prostate cancer is the fourth most common cancer in both sexes combined and the second most common cancer in men. In 2012, an estimated 1.1 million men worldwide were diagnosed with prostate cancer, accounting for 15% of the cancers diagnosed in men. With an estimated 307,000 deaths in 2012, prostate cancer is the fifth leading cause of death from cancer in men (6.6% of the total deaths among men).
The prostate cancer minimally invasive surgery market has been segmented by procedure type, stages of disease progression, end-user, and geography. In terms of procedure type, the market has been categorized into laparoscopic prostatectomy, perineal prostatectomy, nerve-sparing robotic radical prostatectomy, brachytherapy, cryosurgery and others. Based on stages of disease progression, the market has been segmented into Stage A, Stage B, Stage C, and Stage D. Based on end user, the market has been segmented into hospitals, clinics, diagnostics centers and others.
Geographically, the prostate cancer minimally invasive surgery market has been categorized into five regions, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to hold the dominant market share in terms of revenue due to increasing demand and adoption of technologically advanced products and increasing prevalence of prostate cancer. According to Centers for Disease Control and Prevention, in 2014, 172,258 men in the United States were diagnosed with prostate cancer, and 28,343 men died from this disease in the country. Europe is expected to be the second largest market owing to increasing demand for minimally invasive surgery. The market in Asia Pacific is expected to expand at the highest CAGR during the forecast period due to increasing prevalence of prostate cancer and aging population. According to American Cancer Society, Inc., prostate cancer develops mainly in older men. About 6 cases in 10 are diagnosed in men aged 65 or older, and it is rare before the age of 40. According to Asia-Pacific Regional Office of United Nations Population Fund, by 2050, one in four people in Asia and the Pacific will be over 60 years old. The population of older persons (aged over 60) in the region will triple between 2010 and 2050, reaching close to 1.3 billion people.
Major players operating in the global prostate cancer minimally invasive surgery market include Theragenics Corporation, Varian Medical Systems, Inc., C.R. Bard Inc., Intuitive Surgical, Siemens Healthineers, and others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.