Global Prostate Cancer Therapeutics Market to reach USD 17.89 billion by 2027

Global Prostate Cancer Therapeutics Market is valued approximately at USD 9.9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7.68% over the forecast period 2020-2027. According to data released by the World Cancer Research Fund International, more than 1.1 million cases of prostate cancer have been registered in 2012, accounting for around 8 percent of the total tumor cases. Although the exact cause of prostate cancer is not known, the factors associated with it include overweight, obesity, and the history of any other tumor growth. And patients with cardiovascular disease are vulnerable to cancer metastases. As a result, the rising incidence rate of the above-mentioned conditions is driving market growth. The introduction of emerging technologies in screening and diagnostic tests is expected to drive development. The integration of multiparametric MRI (mp-MRI) will greatly enhance tumor detection and also validate the need for tissue biopsy. In addition, market players are investing in research to develop therapeutic drugs for the treatment of such tumors. For example, there is a strong pipeline of products such as Tc-99 m (Progenics), radium-223 dichloride (Xofigo, Bayer), ODM-201 (Orion and Bayer), which are in phase 3 studies and are expected to enter the market in the near future. In addition, due to the expiry of the patents of the major existing products, many generic products are expected to reach the market during the forecast period. As a result, these factors are expected to drive growth. In addition to screening and diagnostic testing, recognition of the availability of drugs to the public is also of the utmost importance to break down the social stigma associated with tumor therapy and to enable patients to be offered prompt care. Governments in developing countries are making efforts to undertake and introduce programs to raise awareness of screening tests, such as Prostate-specific antigen (PSA) blood tests and Digital Rectal Exam (DRE) for male patients over 50 years of age. Prostate Cancer Canada has been founded to promote research, care and prevention of prostate cancer. Such awareness campaigns are also being introduced in developing countries such as China, India and Brazil.
The regional analysis of global Prostate Cancer Therapeutics Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is expected to dominate the market share over the forecast period (2020-2027). Rising prevalence and high mortality rates of prostate cancer in the U.S. are the primary reasons for North America ‘s market supremacy. In addition, this region is experiencing a high level of investment in R&D to develop newer immunotherapy and targeted drug therapies to treat these tumors.
Major market player included in this report are:
Bayer AG
Johnson & Johnson
Ipsen Group
Amgen, Inc.
Endo Pharmaceuticals, Inc.
AbbVie, Inc.
Pfizer, Inc.
Sanpower Group
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Therapy:
Hormone Therapy
Targeted Therapy
Biologic Therapy
By Distribution Channel:
Hospital Pharmacies
Online Sales
Retail Pharmacies
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Prostate Cancer Therapeutics Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers