Prostate Cancer MarketSize Growth Rate:
According to the research report published by the DataM Intelligence, the global prostate cancer market size was valued at USD billion in 2021, it is projected to reach USD billion by 2029, with growth at a CAGR of % over the forecast period 2022-2029.
Cancer of the prostate gland, which is a little walnut-sized gland that generates seminal fluid in men. Prostate cancer is the world’s second most common cancer diagnosis and the fifth leading cause of cancer death in males. Prostate cancer is diagnosed at an average age of 66 years.
Prostate cancer is a form of cancer that develops when abnormal cells in the prostate gland increase and expand uncontrollably. Prostate cancer is the sixth and eleventh leading cause of death in males due to cancer. Radiation, surgery, chemotherapy, biological therapy, and hormone therapy are options for treating prostate cancer. Prostatic adenocarcinoma, benign prostatic hyperplasia, small cell carcinoma, and other forms of prostate cancer are treated and managed with various therapeutic tools. Furthermore, the market expansion will be aided by a strong pipeline of medications and the availability of innovative prostate cancer treatments.
Demand for prostate cancer therapy and care and the use of hormonal medicines in non-metastatic castration-resistant (nmCRPC) and metastatic hormone nave (mHNPC) prostate cancer settings are contributing to the market’s expansion. For instance, patient-provider collaborative decision-making should be predicated on the likelihood of disease progression, chronic comorbidities, the risk-benefit profile of available ARIs, and medication safety in the pharmacologic therapy of nmCRPC.
Blocking androgen production or activity is the current focus of further hormonal therapy in nmCRPC. Patients with nmCRPC and a PSADT 10 months at increased risk of disease progression should be treated with enzalutamide, apalutamide, or darolutamide, in addition to continuing ADT to new NCCN and EAU guidelines. Darolutamide is expected to be included in the new guidelines for treating high-risk individuals with prostate cancer from the American Urological Association, the Canadian Urological Association, and the Japanese Urological Association.
The market’s growth is expected to be hampered by prolonged treatment durations and low demand for prostate cancer treatment medications in developing countries. Hormonal therapy should be used for at least 4 to 6 months in people with intermediate-risk prostate cancer. It should be given to men with high-risk prostate cancer for two to three years. Hormonal therapy may also be provided to those who have had surgery and had cancer cells detected in the excised lymph nodes on a microscopic level.
The rise in research and development activities and innovative pharmaceuticals would give the prostate cancer treatments market advantageous prospects. In addition, high unmet demands and rising pharmaceutical spending in emerging regions would boost the future prostate cancer treatments market’s growth rate.
COVID-19 Impact Analysis
During the SARS-CoV-2 pandemic, most routine Prostate Cancer screening, diagnosis, and treatment actions were halted. Most surgeries were postponed until after the pandemic was over. HR (High-risk) patients were advised to defer surgery or receive neoadjuvant ADT + EBRT. Prophylactic whole pelvic RT was avoided, and the shortest safe EBRT regimen was preferred. Systemic therapy regimens that provide a demonstrable survival advantage were prioritized, with curative therapies remaining essential and others requiring a risk/benefit analysis. When non-myelosuppressive regimens are available, they are preferred.
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Recent Developments in the Industry:
- On June 26th, 2021, the FDA-approved relugolix (Orgovyx). The medicine relugolix (Orgovyx) was more successful than another regularly used treatment, leuprolide, at lowering testosterone levels in men with advanced prostate cancer in a large clinical trial (Lupron).
As per the research analysis, the prostate cancer market is segmented by therapy type into hormone therapy, chemotherapy, immunotherapy, and Focal therapies. Based on end-user, the market is segmented into Hospitals, Ambulatory Surgical Centers, Specialty Clinics, and others.
On the basis of therapy type, the chemotherapy segment is estimated to grow at the highest CAGR during the forecast period (2022-2029). The therapy type segment accounted for the largest market share of the global prostate cancer market in 2020. Chemotherapy is usually administered as an outpatient procedure in hospitals or clinics. Chemotherapy is administered in weeks-long regimens. The drugs will be administered with breaks to allow the body to heal. Chemotherapy medications come in a variety of forms. Docetaxel (Taxotere), the most frequent chemotherapy agent for prostate cancer, is usually used with prednisone, a steroid medication. Many men report improvements in disease-related symptoms such as pain, exhaustion, and energy loss after starting docetaxel. Cabazitaxel (Jevtana) may be utilized if docetaxel fails or ceases functioning.
According to the report, the market is divided into North America, South America, Europe, Asia-Pacific, and Middle East.
North America Prostate Cancer Market:
North America dominates the market as the United States and Canada have well-structured and developed healthcare systems. The presence of significant players, a high level of disposable money, and well-developed healthcare infrastructure are all positive factors. The increasing FDA approvals in this region are also expected to drive market growth. For instance, on December 18th, 2020, Orgovyx (relugolix) was approved by the US Food and Drug Administration to treat adult patients with advanced prostate cancer.
Asia Pacific Prostate Cancer Market:
The Asia-Pacific prostate cancer market size was valued at USD billion in 2021, it is projected to reach USD billion by 2029, with growth at a CAGR of % over the forecast period 2022-2029. Due to manufacturers’ increased focus on growing their geographic presence in rising Asia-Pacific countries to grab high growth prospects in the industry and high disposable incomes, the prostate cancer treatment market in Asia-Pacific is predicted to grow.
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The major players are adopting several growth strategies such as acquisitions, product pipelines, and collaborations, which are contributing to the growth of the prostate cancer market globally.
Some of the key players which are contributing to the growth of the market include Johnson & Johnson, Astella, Inc., Sanofi Aventis, IPSEN, Bayer AG, AstraZeneca, Valent Pharmaceuticals LLC, Novartis International AG, Clovis Oncology Inc., and others
Additional Benefits Post Purchase:
1) Unlimited Analyst support for a period of 1 year.
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The Full Report has the below insights
- The report offers a comprehensive evaluation of the market in terms of Market Value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2020-2021), and verifiable projections about market size during the forecast period (2022-2029).
- Visualize the composition of the global prostate cancer market segmentation by therapy type, end-user and region highlighting the key commercial assets and players.
- By Therapy Type: Hormone therapy, Chemotherapy, Immunotherapy, and Focal therapies
- By End-User: Hospitals, Ambulatory Surgical Centers, Specialty Clinics and others.
- By Region: North America, South America, Europe, Asia-Pacific and Middle East
- Identify commercial opportunities in the global prostate cancer market by analyzing trends and co-development deals.
- The report also covers data insights on various industry forces such as, porter’s five forces, regulations in each country, pipeline analysis and pricing analysis.
- Excel data sheet with thousands of data points global prostate cancer market-level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
- The report will provide access to approximately 50+ market data tables, 40+ figures, and close to 180 pages.
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