Prostate cancer therapeutics encompass a range of treatment approaches targeting prostate cancer. They are utilized in various stages of the disease, including localized and advanced prostate cancer. Common applications include chemotherapy, hormone therapy, immunotherapy, and targeted therapy. These therapeutics aim to control cancer growth, shrink tumors, alleviate symptoms, and improve patients' quality of life. Key features include targeted action against cancer cells, reduced side effects, and personalized treatment options based on the individual's cancer subtype, stage, and overall health status.
According to Data Bridge Market Research, the Global Prostate Cancer Therapeutics Market is expected to reach USD 21.90 billion by 2029. The market is expected to grow with a CAGR of 8.2% in the forecast period of 2022 to 2029.
“Rise in the number of prostate cancer cases boosts the market’s growth”
The rise in the number of prostate cancer cases significantly boosts the prostate cancer therapeutics market growth. As the prevalence of prostate cancer increases, there is a growing demand for effective treatments to combat the disease. Biopharmaceutical companies invest in research and development of innovative therapies, leading to the introduction of new drugs and treatment options. Additionally, advancements in medical technology and personalized medicine approaches further contribute to the expansion of the market, offering improved outcomes and better quality of life for patients.
What restraints the growth of the global prostate cancer therapeutics market?
“High cost associated with prostate cancer treatment restraints the market’s growth”
The high cost associated with prostate cancer treatment acts as a significant restraint on the prostate cancer therapeutics market growth. Cancer therapies, especially advanced treatments like immunotherapy and targeted therapy, can be expensive, creating financial barriers for patients. Additionally, healthcare systems and insurance companies may face challenges in providing comprehensive coverage for these costly treatments. This impedes patient access to cutting-edge therapies, limits market expansion, and underscores the importance of developing more cost-effective treatment options to ensure better affordability and wider availability.
Segmentation: Global Prostate Cancer Therapeutics Market
The global prostate cancer therapeutics market is segmented on the basis of drug class, end-users and distribution channel.
- On drug class, prostate cancer therapeutics market is segmented into hormonal therapy, chemotherapy, immunotherapy, and targeted therapy.
- On the basis of end-users, the prostate cancer therapeutics market is segmented into clinic, hospital and others.
- On the basis of distribution channel into hospital pharmacies, retail pharmacies, online sales and others.
Regional Insights: North America dominates the Global Prostate Cancer Therapeutics Market
North America dominates the prostate cancer therapeutics market due to high disposable income, and a well-developed healthcare infrastructure in this region contribute to its attractiveness for the prostate cancer therapeutics market. The established healthcare ecosystem and economic prosperity enable better access to advanced treatments, driving market growth and ensuring improved patient outcomes.
Asia-Pacific is expected to grow during the forecast period of 2022-2029 due to increasing patient pool, rising investment in the healthcare sector, and growing government support are key factors driving the growth of the prostate cancer therapeutics market. These factors foster research and development, enhance treatment options, and ensure better access to healthcare services, leading to improved patient outcomes and market expansion.
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Recent Developments
- In January 2021, U.S. Food and Drug Administration (FDA) has granted approval for a groundbreaking new drug called Relugolix, offering a potential game-changer in the treatment of advanced prostate cancer. In clinical trials, the medicine, also known as Orgovyx, demonstrated superior effectiveness in reducing testosterone levels in men with advanced prostate cancer, indicating promising outcomes for patients and potentially revolutionizing the approach to managing this form of cancer.
- In June 2021, Novartis AG has recently revealed that the U.S. Food and Drug Administration (FDA) granted Breakthrough Therapy designation (BTD) to 177Lu-PSMA-617, targeting patients with metastatic castration-resistant prostate cancer (mCRPC). This designation is reserved for drugs under investigation for severe conditions that exhibit early clinical evidence of substantial improvement over existing therapies.
The Prominent Key Players Operating in the Global Prostate Cancer Therapeutics Market Include:
- Johnson & Johnson Private Limited (U.S.)
- Astellas Pharma Inc. (Japan)
- Ipsen Pharma (France)
- Sanofi (France)
- Bayer AG (Germany)
- AbbVie Inc. (U.S.)
- AstraZeneca (U.K.)
- Pfizer Inc. (U.S.)
- Teva Pharmaceutical Industries Ltd. (Israel)
- Abbott (U.S.)
- Takeda Pharmaceutical Company Limited (Japan)
- Bristol-Myers Squibb Company (U.S.)
- GlaxoSmithKline plc (U.K.)
- Novartis AG (Switzerland)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Myovant Sciences GmbH (Switzerland)
- Tolmar Pharmaceuticals, Inc. (U.S.)
- Ferring B.V. (Netherlands)
- Dendreon Pharmaceuticals LLC. (U.S.)
- Genentech, Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global prostate cancer therapeutics market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Prostate Cancer Therapeutics Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
