According to a new report by iData Research, the U.S. urological device market was valued at over $3.5 billion in 2011 and is expected to reach almost $6 billion by 2018. The fastest-growing segment in the urological device market in 2011 was the market for prostate cancer treatment devices, which includes brachytherapy, cryotherapy, robotic prostatectomy and external beam radiation therapy (EBRT). Growth in the urological device market will further be fueled by sales of intermittent urinary catheters and urological endoscopes.
“The total prostate cancer treatment device market is expected to grow at double-digit rates over the forecast period, primarily driven by sales of robotic prostatectomy and EBRT capital equipment,” says Dr. Kamran Zamanian, CEO of iData. “Not only is the incidence of prostate cancer increasing but the procedure of robotic prostatectomy has been gaining acceptance by urologists, due to their clinical benefits over traditional methods.”