Date: Mar 2023
Focal Therapy for Prostate Cancer Therapeutics Market worth USD 1,639.2 million by 2033
The Market Statsville Group (MSG) publishes the new report on the "Focal Therapy for Prostate Cancer Therapeutics Market By Type (Radiotherapy, Ultrasound, Laser Ablation, Electroporation, Microwave heating, Cryotherapy, Radiofrequency, Surgery, Hyperthermia), By Application, By Region – Global Share and Forecast to 2033
According to the Market Statsville Group (MSG), the global Focal Therapy for Prostate Cancer Therapeutics market size is expected to grow from USD 788.7 million in 2022 to USD 1,639.2 million by 2033, at a CAGR of 10.6% from 2023 to 2033.
The focal therapy for prostate cancer therapeutics market consists of sales of focal therapy for prostate cancer therapeutics services by entities (organizations, sole traders, and partnerships). Focal treatment is a new option for treating a specific area of the prostate that has clinically severe illness while leaving the rest of the gland alone. The goal of this therapeutic method is to maintain the oncological advantage of active treatment while minimizing the negative effects of conventional radical therapies. The oncological efficacy of focused treatment has yet to be demonstrated in long-term rigorous studies. The market is growing as a result of factors such as the rising prevalence of prostate cancer, the adoption of novel screening and diagnostic technologies, and government backing for new prostate cancer therapies. Uptake of innovative screening and diagnostic technologies is expected to increase treatment adoption. Recent therapeutic discoveries employ bioinformatics and computational biology technology to provide optimal therapy. On the other hand, the less availability of reimbursement policies by the government is restraining the market growth. Moreover, the introduction of HIFU technology for the treatment of prostate cancer will create a lucrative growth opportunity for the market in the forthcoming years.
Global Focal Therapy for Prostate Cancer Therapeutics Market Segmentation
The overall focal therapy for prostate cancer therapeutics market has been segmented into type, application, and region.
- By Type (Radiotherapy, Ultrasound, Laser Ablation, Electroporation, Microwave heating, Cryotherapy, Radiofrequency, Surgery, Hyperthermia)
- By Application (Hospitals & Specialty Clinics, Cancer Treatment Centers)
- By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)
Laser ablation segment is at the highest CAGR during the forecast period
Laser ablation segment is expected to grow at the highest CAGR during the forthcoming period. The use of laser radiation energy to a very tiny region in order to burn away malignant tissue. Some laser ablations can be conducted concurrently with magnetic resonance imaging (MRI), allowing for highly exact targeting and real-time results viewing. The laser emitted at the tip of the fiber destroys the tumor within minutes while special tracking called thermometry confirms the proper temperature. Precision, real-time monitoring, MRI compatibility, and low cost of integrated system are principal advantages of FLA. Due to these factors the market will grow in this segment.
The Asia Pacific to account for the highest CAGR during the forecast period
The Asia Pacific market is projected to grow rapidly over the forecast period. Due to cost-effective therapy, personalized pharmaceuticals, technical improvements, the availability of multiple treatment choices, and the growing prevalence of prostate cancer. For instance, Xtandi (enzalutamide), which is co-licensed by Astellas Pharma of Japan and Pfizer of the United States for the treatment of men with prostate cancer, is five times less expensive in Japan than in the United States. Such low-cost treatments and technical improvements in the industry are projected to drive market expansion throughout the forecast period.
This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the focal therapy for prostate cancer therapeutics market. It also consists of the profiles of leading companies such as Boston Scientific, Medtronic PLC, CooperSurgical Inc, Impact Cryotherapy, Koninklijke Philips N.V, American HIFU, AngioDynamics, Quest PharmaTech Inc, INTERmedic Arfran, Avenda Health Inc., EDAP TMS, Intuitive Surgical, Nanospectra Biosciences and Celsion Corporation. The key players' growing research and development activities for launching innovative healthcare devices with advanced features and strategic unions are expected to drive market growth.
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Market Statsville Group (MSG) is a business research and consulting platform of Statsville Consulting Private Limited, based in Oklahoma, USA. MSG is the leading market research and strategy builder with the depth and breadth of solutions that perfectly suit your every need. MSG provides solutions in a wide range of industry verticals in market sizing, analysis, and intelligent business insights. MSG has experienced research analysts who are proficient at digging deep and providing various customizable data that help you make decisions with clarity, confidence, and impact. Furthermore, Market Statsville Group already benefited more than 1,000 companies each year for their revenue planning. It helped them take their disruptions/innovations early to the market by providing them research ahead of the curve.
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