Size of prostate treatment market: Cereulean skies for PRN?From Q2, 2021 MD&A:
"The annual incidence of newly diagnosed cases in 2021 is estimated to reach 248,530 in the United States according to the American Cancer Society and in 2018 there were approximately 450,000 newly diagnosed cases of prostate cancer in Europe, according to the International Agency for Research on Cancer. The American Cancer Society further estimates that there are currently 5.8 million men living with prostate cancer in these two geographic regions. Although ten-year survival outcomes for prostate cancer remain favorable, it is still one of most common causes of cancer deaths among men."
US & EU new prostate cancer cases per year: 700,000
US & EU new BPH cases recommended for treatment per year: 1,400,000 (tends to be about 2 times cancer).
That's 2.1 million new potential treatments per year in US & EU.
Add Asia and you could double that to 4.2 million new potential treatments per year.
Add the 5.8 million men already living with prostate cancer in US & EU and you get 10 million possible treatments over the next year (ignoring all those outside the US & EU currently living with prostate cancer, and all those currently living with BPH, etc.)
0.1% of that market is 10,000 treatments, about $80,000,000 in revenue for PRN and in the range of $250,000,000 to $300,000,000 total cost to the patients.
0.1% market share doesn't seem like much for what appears to be the best treatment available. The limiting factor for growth over the next few years is very likely the speed at which PRN can install new treatment sites - IMO.
-GLTA!