Prostate Cancer Therapeutics Market: Overview
The global prostate cancer therapeutics market was valued at ~US$ 9.6 Bn in 2018, and is projected to expand at a CAGR of ~8% from 2019 to 2027. Rise in the prevalence of prostate cancer, launch of promising emerging therapies, innovation in the development of new drugs & therapeutic biological products, and high growth in hormone-refractory prostate cancer drugs due to lesser side effects are the key factors that are fueling the growth of the global prostate cancer therapeutics market.
Prostate cancer is the most common non-cutaneous cancer occurring globally. Consistent rise in the geriatric population, sedentary lifestyle of people in developed countries, and incidence of urological disorder at an early age augment the prevalence of prostate cancer, globally.
The last decade has seen substantial advances in androgen receptor targeting in prostate cancer. Additionally, advances have been made in immunotherapy and radiopharmaceutical-based therapy, although their optimal use in the clinic remains unclear.
Important advances in prostate cancer therapeutics, including enzalutamide, abiraterone acetate, sipuleucel-T, cabazitaxel, and radium-233 have also been made in the last decade.
By targeting the androgen receptor (AR) with high affinity and impacting its translocation and function within the nucleus, enzalutamide represents a considerable advance over first-generation antiandrogens.
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Increase in healthy living in developed economies has increased the geriatric population, which, in turn, has led to high incidence of prostate cancer. According to the Prostate Cancer Foundation, a majority of prostate cancer cases are diagnosed in men over 65. Hence, consistent increase in the geriatric population, sedentary lifestyle of people in developed countries, and incidence of urological disorder at an early age augment the prevalence of prostate cancer, globally. This propels the need for and demand for prostate cancer therapeutics. According to the Urology Care Foundation, around 1 in 7 men are diagnosed with prostate cancer, and approximately 1 in 35 men succumb to this disease.
Various emerging diagnostic techniques have revolutionized prostate cancer detection at an early phase. Measurement of prostate-specific antigen (PSA) level has helped the diagnosis of prostate cancer. Promising new therapies in phase II and phase III trials include new cytotoxic agents, hormonal agents, and other antiprostate-specific membrane antigen therapies. According to the Mayo Foundation for Medical Education and Research (MFMER), a combination of hormonal and anti-cytotoxic T-lymphocyte-associated antigen
(CTLA) treatment strategies can provoke a focused immune response against prostate tumors.
Prominent players in the prostate cancer treatment market are emphasizing on R&D and manufacture of therapeutics for the long-term survival of patients. Castration resistant prostate cancer (CRPC) has driven the approvals of effective & potent systemic agents as first and second-line treatments. Currently, a number of molecular agents are in the early phase of clinical trials for the treatment of prostate cancer.
Prostate cancer therapeutics include various forms of treatments such as hormonal therapy, chemotherapy, and biological & targeted therapy. However, the high cost of targeted therapies & other immunotherapies is expected to be a major restraint of the global market. According to the Global Oncology Trend Report, global pricing associated with oncology drugs and supportive care medicines increased by 11.5% in 2015, wherein, the U.S. accounted for ~46% of the global revenue in the oncology market. High costs associated with targeted therapies for prostate cancer hamper the adoption of these therapies among the population. Low awareness about technological advancements in the therapeutic area of prostate cancer in developing countries is likely to restrain the prostate cancer therapeutics market during the forecast period. Chemotherapy exhibits poor response rates in later stage prostate cancer, and hence, it was reserved as a palliation for patients with hormone-refractory disease. Most oncologists do not consider systemic therapies in early-stage prostate cancer due to negative perception toward early systemic therapy.
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The global prostate cancer therapeutics market has been segmented based on therapy, distribution channel, and region
In terms of therapy, the global market has been classified into hormone therapy (luteinizing hormone-releasing hormone analogs, luteinizing hormone-releasing hormone antagonists, and antiandrogens), chemotherapy (systemic chemotherapy and regional chemotherapy), biologic therapy, and targeted therapy.
The hormone therapy segment dominated the global prostate cancer therapeutics market in 2018, and the trend is projected to continue during the forecast period. Based on distribution channel, the global market has been divided into hospital pharmacies, retail pharmacies, online sales, and others.
The hospital pharmacies segment dominated the global market in 2018, due to an increase in admissions of geriatric patients in hospitals and laboratories for the diagnosis of old agerelated diseases.
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In terms of region, the global prostate cancer therapeutics market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America o North America was a major market for prostate cancer therapeutics in 2018. The demand for prostate cancer therapeutic products is high in the region due to a rise in the disease prevalence. However, growth of the market in North America is attributed to the launch of promising emerging therapies in the biologic and hormone therapy segments. The expected launch of some pipeline products is likely to drive the market in the region during the forecast period.
Europe o Manufacturers are anticipated to focus on hormone therapy segments such as antiandrogens in the prostate cancer therapeutics market in Europe. The hormone therapy segment is expected to continue to be a potentially viable segment for investment during the forecast period. The expected launch of pipeline products late in the forecast period is likely to boost market growth. However, restrictions on the use of few drugs by the European Medicines Agency for the treatment of prostate cancer are anticipated to hamper the market in the region 2019 and 2027.
Asia Pacific o Manufacturers in the prostate cancer therapeutics market in Asia Pacific are anticipated to focus on therapies such as antiandrogens and luteinizing hormonereleasing hormone antagonists. The hormone therapies segment is expected to continue to be a potentially-viable segment for investment during the forecast period. Rise in awareness programs by associations and companies is a major factor likely to boost the growth of the market in the region in the near future.
Global Prostate Cancer Therapeutics Market: Major Players
Key players operating in the global prostate cancer therapeutics market include o Amgen, Inc. o
Johnson & Johnson (Janssen Biotech, Inc.)
o
Pfizer, Inc.
o
AstraZeneca
o
AbbVie, Inc.
o
Bayer AG
o
Ipsen Group
o
Sanofi
o
Endo Pharmaceuticals, Inc.
o
Sanpower Group (Dendreon Corporation).
These players are adopting strategies such as new product development, partnerships, and acquisitions to remain competitive in the global market. More Trending Reports by Transparency Market Research – Oral Thin Films Market https://www.prnewswire.com/news-releases/oral-thin-films-market-to-developat-cagr-of-9-2-during-forecast-period-notes-tmr-study-301496033.html Albumin Market https://www.prnewswire.com/news-releases/albumin-market-to-rise-at-cagr-of-6-2during-forecast-period-observes-tmr-study-301500236.html About Us Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge. Each TMR Syndicated Research report covers a different sector — such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement. Contact Us Rohit Bhisey Transparency Market Research, 90 State Street, Suite 700, Albany, NY 12207 Tel: +1-518-618-1030 USA – Canada Toll Free: 866-552-3453 Email: sales@transparencymarketresearch.com Website: https://www.transparencymarketresearch.com/