Prostate cancer is the most common non skin cancer, which affects the gland that produces some of the fluid in semen and plays an important role in controlling urine of men. This is one of the most common type of cancer in men, which grow slowly and is initially confined to prostate gland, where it may not cause serious harm. According to estimate done by the American Cancer Society, in 2017, there will be around 161,360 new diagnoses of prostate cancer, and that around 26,730 fatalities will occur because of it.
The global prostate cancer market is showing the steady growth; mainly owing to increase in patient population. According to report published by Centers for Disease Control and Prevention, in 2014, there were around 172,258 men in the United States, who diagnosed with prostate cancer and around 28,343 men died from prostate cancer. These rising number of prostate cancer create an opportunity for the player to introduce innovative treatment option.
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Companies are continuously invent new treatment to capture the global market. Thus players invest more in research and development activities. In this regards, Bayer Pharma AG announced that they have many drugs for the treatment of prostate cancer in there pipeline such as Radium-223 dichloride and BAY 1841788 (ODM-201, AR antagonist).
Progenics Pharmaceuticals, Inc., 2015, acquired Exini Diagnostics AB in order to support its imaging and therapeutic agents with sophisticated analytical tools and other technologies to help patients and physicians understand, target and treat prostate cancer. These companies are more investing in research and development program to provide the best treatment option, which help them to keep ahead with their competitor.
These acquisitions help companies to provide better treatment opportunity in the market and hence improve the quality of life for the people around the world. Additionally it help market players in translating breakthrough science into innovative treatment to help people with prostate cancer worldwide.
Global Prostate cancer Market – Regional Analysis
OncoGenex Pharmaceuticals Inc. (U.S.), Bayer Pharma AG (Berlin), Progenics Pharmaceuticals, Inc. (U.S.), Tolmar Inc. (U.S.), OncBioMune Pharmaceuticals Inc. (U.S.), Endo Pharmaceuticals Inc. (U.S.), Tokai Pharmaceuticals, Inc. (U.S.) are some of the leading players at the cutting edge of the competition in the market of prostate cancer, globally.
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According to Prostate cancer Foundation, it is the most common type of cancer in United States. The Older you are more chance of getting diagnosed with prostate cancer. 1 in 8 men get diagnosed with this type of cancer at some points of age.
According to American Cancer Society, in 2017, it is estimate that around 161,360 new cases of prostate cancer will get diagnosed and around 26,730 death occurs owing to prostate cancer in United States. Report suggest more than 2.9 million men get diagnosed with prostate cancer at some point are still alive today. The market of prostate cancer is much higher in the Americas region attribute to high rate of obesity population. The government have more focus towards research and development for introducing the best treatment for their population.
Europe is also consider huge market for prostate cancer market players, owing to present of huge population affected with disease. Company in this region have well developed treatment option, whereas developing countries are more focus to obtain well developed treatment in order to provide best treatment to their citizen. Thus, players are involve in exporting the advanced treatment and maximizing the profit by capturing market share of Asia Pacific. Government are more focusing to educate their public in order to minimize the patient’s population by educating them about the side effect of unhealthy diet, obesity etc.
Asia Pacific region are considering the growing market, owing to presence of huge population suffering with prostate cancer. Whereas country like India and china are considering fastest growing region due to the high rate of obesity population which leads the incidence of prostate cancer, additionally they are open to adopt new technology, and best treatment option from developed countries in order to improve the quality of life for their citizen. Whereas the Middle East and Africa have low market due to his incapability of investment, Moreover developing countries are still focusing on new drugs for the treatment of prostate cancer, this gap between the developed and developing countries will present significant growth opportunity for the prostate cancer treatment market players in the coming years.
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