We have an updated report [Version - 2024] available. Kindly sign up to get the sample of the report.
all report title image
  • Published In : Aug 2023
  • Code : CMI4079
  • Pages :140
  • Formats :
      Excel and PDF
  • Industry : Medical Devices

The North America and Europe minimally invasive prostate cancer surgery market is estimated to be valued at US$ 52.6 Billion in 2023 and is expected to exhibit a CAGR of 12.0% during the forecast period (2023-2030).

Analysts’ Views on the North America and Europe Minimally Invasive Prostate Cancer Surgery Market:

The North America and Europe minimally invasive prostate cancer surgery market growth can be hindered due to product recalls, thus increasing product launches by key market players are expected to drive the market growth over the forecast period. For instance, on May 10, 2023, Varian Medical Systems, Inc., a medical device company, announced the launch Isolis cryoprobe, a single use, disposable device designed for use with CryoCare, a cryotherapy device for cryosurgery. Cryoablation is a minimally invasive, image-guided procedure for treating disease and alleviating pain by very precisely freezing and destroying tissue targets such as tumors of the lung, liver, breast, kidney, prostate, and soft tissues.

Figure 1. North America and Europe Minimally Invasive Prostate Cancer Surgery Market Share (%), by Product Type, 2023

NORTH AMERICA AND EUROPE MINIMALLY INVASIVE PROSTATE CANCER SURGERY MARKET

To learn more about this report, request a free sample copy

North America and Europe Minimally Invasive Prostate Cancer Surgery Market - Driver

Increasing product launches by key market players are expected to aid the growth of the North America and Europe minimally invasive prostate cancer surgery market over the forecast period. For instance, on April 26, 2023, Orthofix Medical, a U.S.-based spine and orthopaedics company, announced the launch of Lattus Lateral Access System and the Fathom Pedicle-Based Retractor System for minimally invasive surgical procedures. The two latest access retractor systems are designed to aid surgeons during minimally invasive surgical procedures to expand Orthofix Medical’s offering of access solution.

Figure 2. North America and Europe Minimally Invasive Prostate Cancer Surgery Market Share (%), by Region, 2023

NORTH AMERICA AND EUROPE MINIMALLY INVASIVE PROSTATE CANCER SURGERY MARKET

To learn more about this report, request a free sample copy

North America and Europe Minimally Invasive Prostate Cancer Surgery Market - Regional Analysis

Among regions, North America is estimated to hold a dominant position in the North America and Europe minimally invasive prostate cancer surgery market over the forecast period. North America holds 60% of the market share due to increasing research and developments, which is expected to drive the North America and Europe minimally invasive prostate cancer surgery market growth over the forecast period. For instance, on June 6, 2023, Advanced Surgical Retractor Systems, a medical device company, announced the first exploratory laparotomy with the new TITAN CSR. TITAN CSR is a lightweight titanium surgical retractor for emergency and trauma surgeries delivering the speed of traditional self-retaining retractors and equivalent exposure of table-mounted systems, without a post or table attachment.

North America and Europe Minimally Invasive Prostate Cancer Surgery Market - Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization (WHO) declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, faced problems with the transportation of drugs from one place to another.

However, the COVID-19 pandemic had a negative impact on the North America and Europe minimally invasive prostate cancer surgery market. For instance, in August 2022, an article published in National Center for Biotechnology Information (NCBI) found substantial deficits in the number of diagnostic and treatment procedures for men with newly diagnosed prostate cancer after the start of the first lockdown in 2020. The number of men diagnosed with prostate cancer decreased by about one-third, and those diagnosed had more advanced disease. Urgent concerted action is required to address the COVID-19-related deficits in prostate cancer services and mitigate their impact on long-term outcomes.

North America And Europe Minimally Invasive Prostate Cancer Surgery Market Report Coverage

Report Coverage Details
Base Year: 2022 Market Size in 2023: US$ 52.6 Bn
Historical Data for: 2018 to 2021 Forecast Period: 2023 to 2030
Forecast Period 2023 to 2030 CAGR: 12.0% 2030 Value Projection: US$ 116.6 Bn
Geographies covered:
  • North America: U.S. and Canada
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
Segments covered:
  • 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
  • By Application: Laparoscopy, Robotics, Brachytherapy, Cryosurgery
  • By End User: Hospitals, Specialty Clinics, Ambulatory Surgical Centers
Companies covered:

AngioDynamics, Profound Medical, Medtronic, Johnson & Johnson Services, Inc., Olympus, Siemens Healthcare, Intuitive Surgical Operations, Inc., B. Braun SE, Delta Healthcare, ESC Medicams, Zhejiang Geyi Medical Instrument Co.,Ltd, XION, Fulbright Medical Inc., and CONMED Corporation

Growth Drivers:
  • Increasing product launches by key market players
Restraints & Challenges:
  • Inefficiency of surgery in treating advanced stage cancer

North America and Europe Minimally Invasive Prostate Cancer Surgery Market Segmentation:

The North America and Europe minimally invasive prostate cancer surgery market report is segmented into product type, application, end user, and region.

  • Based on product type, the market is segmented into hand (resectoscope, linear cutter, insufflators, curved stapler, endoscopic trocars, prostatic retractor, cryoablation device, others) monitoring, and visualization and powered. Out of which, the powered segment is expected to hold a dominant position in the Europe minimally invasive prostate cancer surgery market during the forecast period, and this is attributed to increasing product launches by key market players.
  • Based on application, the market is segmented into laparoscopy, robotics, brachytherapy, and cryosurgery. Out of which, the cryosurgery segment is expected to dominate the market over the forecast period, and this is attributed to the rising number of cryosurgery procedures in the U.S.
  • Based on end user, the market is segmented into hospitals, specialty clinics, and ambulatory surgical centers. Out of which, the rehabilitation center segment is expected to dominate the market over the forecast period, and this is attributed to the rising number of hospitals in U.S.

Among all segmentation, the product type segment has the highest potential due to the increasing launch of electrosurgical units for oncology surgical procedures by key market players.

North America and Europe Minimally Invasive Prostate Cancer Surgery Market Cross Sectional Analysis:

In the product type segment, the insufflators segment held a dominant position in North America due to increasing product launches by key market players. For instance, in February 2020, Insulet Corporation, a manufacturer of medical devices, and Abbott, a medical device company, announced that they had collaborated to expand Abbott’s product portfolio. Under this collaboration, Abbott’s market-leading Freestyle Libre continuous glucose monitor will be incorporated into Insulet Corporation’s Omnipod Horizon automated delivery system, comprising a wearable insulin pump and software to glucose control.

North America and Europe Minimally Invasive Prostate Cancer Surgery Market: Key Developments

  • On January 31, 2023, Prostate Cancer Foundation (PCF), world’s leading philanthropic organization is dedicated to fund life-saving prostate research, announced the 2022 Class of PCF Team Challenge Award recipients and US $12 million funding for innovative prostate cancer research
  • Increasing inorganic strategies, such as collaborations, funding’s, and investments among key market players, are expected to propel the growth of the North America and Europe minimally invasive prostate cancer surgery market. For instance, in May 2021, University of California, San Francisco (UCSF) in collaboration with San Francisco Veteran Affairs (VA) Health Care System, the Prostate Cancer Foundation, a philanthropic organization, launched the Drew Foundation Precision Oncology Center of Excellence, providing precision medicine treatment to veterans facing prostate cancer.

North America and Europe Minimally Invasive Prostate Cancer Surgery Market: Key Trends

  • Rising prevalence of prostate cancer: The rising prevalence of prostate cancer in Europe is expected to drive the North America and Europe minimally invasive prostate cancer surgery market growth over the forecast period. For instance, according to European Cancer Information System (ECIS), in 2020, prostate cancer in Europe accounted for 9.9% of all cancer-related fatalities and 23.2% of all newly diagnosed cancer cases in men (excluding non-melanoma skin cancers). It is the most common form of cancer in males and the third leading cause of cancer death in men, after lung and colorectal cancers.

North America and Europe Minimally Invasive Prostate Cancer Surgery Market: Restraints

  • Increasing product recalls by regulatory authorities: Inefficiency of surgery in treating advanced stage cancer is expected to hinder the market growth over the forecast period. For instance, inefficiency of surgery in treating advanced stage cancer is expected to hinder the growth of the North America and Europe minimally invasive prostate cancer surgery market. Surgical procedures is more suitable when the cancer is localized within the prostate gland. However, as the cancer metastases to nearby lymph nodes and bones, surgery becomes incapable of treating it. Moreover, many surgeons are hesitant in adopting new robotic technology and prefer the traditional methods, which is also expected to limit the market growth.

North America and Europe Minimally Invasive Prostate Cancer Surgery Market - Key Players

The major players operating in the North America and Europe minimally invasive prostate cancer surgery market include AngioDynamics, Profound Medical, Medtronic, Johnson & Johnson Services, Inc., Olympus, Siemens Healthcare, Intuitive Surgical Operations, Inc., B. Braun SE, Delta Healthcare, ESC Medicams, Zhejiang Geyi Medical Instrument Co., Ltd., XION, Fulbright Medical Inc., and CONMED Corporation.

*Definition: Prostate cancer is a type of cancer that grows slowly, and is confined to the prostate gland. This type of cancer shows no symptoms in its early stage. The advanced stage of prostate cancer has signs and symptoms such as trouble urinating, decreased force in the stream of urine, blood in the urine, blood in the semen, bone pain, losing weight, and erectile dysfunction. The cancer starts when cells in the prostate develop changes in their DNA. In the surgery, the prostate and some surrounding lymph nodes are removed during an operation. The type of surgery performed depends on the stage of the cancer. There are four types of surgeries that are performed on the patients of prostate cancer in case of emergency that includes radical prostatectomy, robotic or laparoscopic prostatectomy, bilateral orchiectomy, and transurethral resection of the prostate.

Frequently Asked Questions

The market is estimated to be valued at US$ 52.6 billion in 2023 and is expected to exhibit a CAGR of 12.0% between 2023 and 2030.

Increasing product launches by key market players are expected to drive the market growth.

The powered is the leading product type segment in the market.

Increasing product recalls by regulatory authorities are expected to hinder the market growth over the forecast period.

The major players operating in the market include AngioDynamics, Profound Medical, Medtronic, Johnson & Johnson Services, Inc., Olympus, Siemens Healthcare, Intuitive Surgical Operations, Inc., B. Braun SE, Delta Healthcare, ESC Medicams, Zhejiang Geyi Medical Instrument Co.,Ltd, XION, Fulbright Medical Inc., and CONMED Corporation.

View Our Licence Options

Need a Custom Report?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports

Customize Now

Want to Buy a Report but have a Limited Budget?

We help clients to procure the report or sections of the report at their budgeted price. Kindly click on the below to avail

Request Discount
Logo

Reliability and Reputation

ESOMAR
DUNS Registered
Clutch
DMCA Protected

9001:2015

Reliability and Reputation

27001:2022

Reliability and Reputation

EXISTING CLIENTELE

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients
trusted clients logo