Prostate Cancer Therapeutics Market: Future Perspective Growth In Prostate Cancer Therapeutics Diagnostics And Treatment Market

According to Precision Business Insights, the Prostate Cancer Therapeutics Market research report provides industry size and growth.

According to Precision Business Insights (PBI), the latest report the global prostate cancer therapeutics market is expected to be worth USD 11.14 billion in 2022 and projected to grow at 6.6% CAGR from 2023 to 2029. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period. Prostate is an exocrine gland and found only in males.  Prostate cancer begins when cells in the prostate gland start to grow uncontrollably. It may spread to other parts of the body mainly bones and lymph nodes. Prostate cancer is the most common type of cancer among the men, but often it can be treated successfully. The exact cause of prostate cancer is unknown but are generally linked to hereditary causes or to unhealthy diet and lifestyle. Prostate cancer can be diagnosed by biopsy, prostate imaging and various other techniques. The prostate cancer therapeutics market is rapidly growing due to increase in incidence of prostate cancer and increase in ageing population globally. In addition, technological advancements in prostate cancer treatment market such as radiation therapy and targeted therapy are expected to boost the prostate cancer diagnostics market. However, patients in underdeveloped and developing regions cannot afford the high costs of treatment and diagnosis of cancer can hinder growth of prostate cancer diagnostics market. In addition to this, low diagnostic rates due to unawareness about prostate cancer symptoms is hampering the prostate cancer therapeutics market. The global prostate cancer therapeutics market has been segmented-

By Drug class

  • Chemotherapeutic agents
  • Immune System Modulators
  • Hormones
  • Others

By Route of administration

  • Oral
  • Parenteral
  • Other

By Distribution Channel

  • Retail Pharmacy
  • Hospital Pharmacy
  • Others

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Retail Pharmacy, hospital pharmacy and others. And lastly, on the basis of geographical regions the global prostate cancer drugs market has been segmented into following regions- North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America expected to have major market share owing to increased R & D, developed healthcare infrastructure and high rate of prostate cancer incidents. In 2017, the American Cancer Society predicts that there will be around 161,360 new diagnoses of prostate cancer and that around 26,730 fatalities will occur because of prostate cancer in America alone. European prostate cancer treatment drugs market is anticipated to grow at significant rates due to increase in prevalence rates and developed healthcare infrastructure facilities. Asia Pacific region prostate cancer treatment market expected to be fastest growing due to developing healthcare infrastructure facilities and increased research and development focused on cancer therapeutics.

Some of the key market players in prostate cancer treatment drugs market include Johnson & Johnson Services Inc. (U.S.), AbbVie, Inc. (U.S.), Amgen, Inc. (U.S.), AstraZeneca (U.K), Sanofi (France), Dendreon Corporation (Sanpower Group Co. Ltd.) (U.S.), Bayer AG (Germany) Endo Pharmaceuticals, Inc. (U.S), and Pfizer, Inc (U.S.)

USFDA approved a supplemental new drug application for XTANDI (Enzalutamide) capsules of Astellas Pharma Inc. & Pfizer Inc. to treat patients with metastatic Xastration resistance prostate cancer. And in 2011, Johnson & Johnson has received USFDA approval for ZytIGA used to treat metastatic prostate cancer New tests such as phi test, 4Kscore test, Progensa, TMPRSS2 ERG and ConfirmMDX will be more accurate in early stage diagnosis. This, in turn, aids in increasing diagnosis rate and consecutively aid in the growth of the prostate cancer treatment market. Prostate cancer treatment drugs market has large and small players and market is highly competitive. Players adopting acquisitions, mergers and collaborations to strengthen product offerings in prostate therapeutics market. For instance, in 2017, Pfizer acquired Medivation, this acquisition represents opportunity to expand the business offering with an attractive pipeline and with Xtandi, medicine for men with prostate cancer.