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The latest report by IMARC, titled “ ProstateCancerTreatmentMarket:GlobalIndustryTrends,Share,Size,Growth,OpportunityandFor ecast2023-2028
” " the global prostate cancer treatment market reached a value of US$ 7.2 Billion in 2022.
Prostate cancer refers to a type of malignant tumor that occurs in a man's prostate, a small walnutsized gland that produces the seminal fluid to nourish and transport sperm. Its symptoms include trouble urinating, erectile dysfunction, decreased force in the urine stream, blood in the urine and semen, bone pain, and losing weight without trying. Prostate cancer treatment involves removing the prostate gland, some surrounding tissue, and lymph nodes.
Surgery or radiation therapy is often prescribed for prostate cancer treatment in combination with other therapies. Robot-assisted laparoscopic prostatectomy and retropubic surgery are gaining widespread prominence among healthcare professionals, along with external beam radiation therapy and brachytherapy. Some of the other therapies used to treat prostate cancer are ablative therapy, hormone therapy, chemotherapy, immunotherapy, and targeted drug therapy.
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The global market is majorly driven by the increasing cases of prostate cancer. In line with this, the rising sedentary lifestyle of individuals and the growing geriatric population are significantly contributing to the market. Furthermore, the early onset of urological disorders and the provisions of coverage of reimbursements from health insurance companies are positively influencing the market. Apart from this, significant advancements in prostate cancer therapies, including abiraterone acetate, cabazitaxel, enzalutamide, radium-233, and sipuleucel-T, are expected to catalyze the market growth. Moreover, the escalating prevalence of obesity at a young age is propelling the market. Besides, the adoption of novel screening and diagnostic technologies and the increasing government support for new therapies to cure prostate cancer are favoring the market expansion.
The leading market players are focusing on developing new treatments and cures with a strategy that includes exome sequencing, proteome profiling, and whole-genome sequencing, which is anticipated to bolster the market. Additionally, strong emerging pipeline drugs and heavy investments in research and development (R&D) by drug innovators are providing a boost to the market. Some of the other factors driving the market include the rising awareness among the masses regarding prostate cancer treatment, the availability of new prostate cancer treatments, and the growing healthcare expenditure. On account of the factors above, the market is anticipated to reach a value of US$ 10.3 Billion by 2028, exhibiting a CAGR of 5.8% during 2023-2028.
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
MarketSummary:
BreakupbyDrugType:
• Chemotherapy
• Biological Therapy
• Hormone Therapy
• Others
BreakupbyDistributionChannel:
• Hospitals Pharmacies
• Drug Stores and Retail Pharmacies
• Online Pharmacies
BreakupbyRegion:
• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa
CompetitiveLandscapewithKeyPlayers:
• Astellas Pharma Inc
• AstraZeneca plc
• Bayer Aktiengesellschaft
• Dendreon Pharmaceuticals LLC. (Sanpower Group Co. Ltd.)
• F. Hoffmann-La Roche AG
• Ferring B.V.
• GlaxoSmithKline Plc
• Ipsen (Mayroy SA)
• Novartis International AG
• Takeda Pharmaceutical Company Ltd.
• Tolmar Pharmaceuticals Inc.
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