Urological Device Market Will Grow to More Than $5.4 Billion
According to a new global report series by iData Research, the leading authority in medical device, dental and pharmaceutical market research, the U.S. market for urological devices is estimated to more than double in value by 2016, reaching over $5.4 billion. iData's report, U.S. Market for Urological Devices 2010, states that the combined prostate cancer treatment market, including surgical robotics systems used for robotic prostatectomy, will more than triple in value by 2016. Growth in the overall urological device market will be driven by improved diagnosis rates, particularly for prostate cancer and benign prostatic hyperplasia (BPH).
Prostate cancer is the leading non-dermal cancer among American males and is diagnosed in approximately 150 out of every 100,000 men. External beam radiation therapy is currently the most frequently used primary treatment method for prostate cancer, but it is predicted to be overtaken by robotic prostatectomy surgery by 2013. However, external radiation is still expected to be a popular secondary treatment, and will be used on over 40% of patients. Other treatments include brachytherapy, cryotherapy and high-intensity focused ultrasound (HIFU), with the developing market for HIFU estimated to grow at a compound annual growth rate (CAGR) of 91% by 2016.
"With growing patient awareness and an emphasis on early detection of prostate cancer and BPH, we are seeing more patients diagnosed," says Dr. Kamran Zamanian, CEO of iData. "Higher disease diagnosis rates will drive growth in the overall market for urological devices."
iData's Urological Devices series provides a comprehensive analysis of the prostate cancer treatment market including brachytherapy, cryotherapy, external beam radiation, HIFU and robotic prostatectomy systems. The reports cover the BPH treatment device market, including devices for TURP, TUMT, TUNA, prostatic stents and laser BPH treatment. In addition, they include incontinence treatment, bladder cancer fulguration, urodynamic equipment, stone treatment, urological endoscopes and nephrostomy devices.
SOURCE iData Research Inc.