Published By : 18 Feb 2016 | Published By : QYRESEARCH
The global market for prostate cancer devices has been capitalizing on the rising geriatric population. Prostate cancer generally occurs in men aged above 65 years. It is generally found in the prostate gland of men. In majority of cases prostate cancer is diagnosed at an advanced stage since it goes slowly and exhibits few symptoms at early stage.
Rising Investment on Research and Development Boosts Global Prostate Cancer Devices Market
The increased funding of research and development to discover an effective cure for the condition by the leading enterprises operating in the market has been propelling the market for prostate cancer devices. Furthermore, researches conducted to come out with novel therapeutics for oncology also has a positive impact on the trajectory exhibited by the prostate cancer devices market.
The market also has a limited number of players, which has helped these enterprises augmenting their shares in the market over time and following the adoption of the latest technologies. For instance, the demand for prostate cancer devices accelerated as these companies adopted robotic prostatectomy.
Prostate cancer has been identified as a chronic ailment, affecting a rising number of people around the world. Early diagnosis of the disease is important to improve the chances of patients’ survival. Nevertheless, several advances introduced recently in the world of medicine are likely to prove helpful in the treatment of prostate cancer.
Some of the most common ways in which prostate cancer are diagnosed include prostate biopsy, digital rectal exam, pet and spect scans, prostascint monoclonal antibody scan, ultrasound, prostate-specific antigen blood test, MRI lymph node biopsy, bone scan, and CT scan.
Innovations in Drug Discovery Fuel Demand from Prostate Cancer Devices Market
The market for prostate cancer devices is majorly bolstered by developments in proteomics and genomics and innovations in drug discovery. The industry at present is leveraging the unmet needs of oncology therapeutics segment and off label prescription for prostate cancer. On the flip side, the market is witnessing hindrances from the high cost of prostate cancer treatment, and the complications commonly associated with prostate cancer surgeries. The low success rate of oncology clinical testing also negative impacts the global market for prostate cancer devices.