The Global Market for Prostate Cancer Therapeutics is Projected to Reach US$13.1 Billion by 2022

Rising Prevalence of the Disease & Unmet Medical Needs Drive the Prostate Cancer Therapeutics Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Prostate Cancer Therapeutics market. The global market for Prostate Cancer Therapeutics is projected to reach US$13.1 billion by 2022, driven by the increasing incidence of prostate cancer globally and the resulting demand for novel affordable therapies that offer high efficacy, low toxicity and longer patient survival.

Prostate cancer is the most common form of cancer affecting men, with about 180,890 new cases diagnosed in 2016, as per the American Cancer Society’s estimates. Along with the increasing prevalence of prostate cancer around the world, factors driving the prostate cancer therapeutics market include the rising geriatric population base, and growing demand for novel therapies. Various products are being researched that offer increased survival time without disease progression, and also lesser toxicity and lower costs. These investigational [prostate cancer therapeutic solutions offer profitable market opportunities over the near and long term. Targeted prostate cancer therapies, which work by targeting cancer cells in specific, leaving healthy cells undamaged, is rapidly taking over chemotherapy. First-generation targeted therapies, comprising mainly of monoclonal antibodies, are not favored by patients due to inherent disadvantages. Second-generation targeted therapies, which are orally bioavailable, are expected to drive the market into the future with desirable features, such as superior therapeutic efficacy, optimum dosing, and ability to fight drug resistance.

Hormone therapy, also called androgen deprivation therapy (ADT), represents the leading treatment modality for prostate cancer with high survival rates among patients. The once-daily oral medication, Zytiga (abiraterone acetate) used in combination with prednisone, has become the gold standard for prostate cancer therapy since 2011. Other leading drugs, Xtandi, Lupron/Leuplin, and Zoladex, are also anti-androgens and LHRH analogs. Other therapies like immunotherapy are witnessing rapid growth. While Provenge® developed by Dendreon is already in the market, other immunotherapies such as ProscaVax and ADXS-PSA + pembrolizumab are being investigated for treating metastatic, castration-resistant prostate cancer. Factors restraining market growth include high treatment costs, low patient compliance owing to complicated treatment methods, multiple drug resistance, and also clinical trial challenges and stringent regulatory approvals required for novel therapeutics.

As stated by the new market research report on Prostate Cancer Therapeutics, the United States represents the largest market worldwide. Developing markets led by Asia-Pacific, ranks as the fastest growing market with a CAGR of 12.1% over the analysis period. The growth in emerging economies is supported by growing population base, rapid urbanization, changing lifestyle factors that raise the risk of cancer, developing healthcare infrastructure, increasing per capita healthcare spending among the expanding base of middle class population and rising patient awareness about the disease and available treatment options.    

Major players in the market include AbbVie Inc., Allergan plc, Amgen Inc., Astellas Pharma Inc., AstraZeneca Plc., Bayer AG, Bristol-Myers Squibb Company, Debiopharm Group, Dendreon Pharmaceuticals LLC, Endo Pharmaceuticals Inc., F. Hoffmann-La Roche Ltd., Genentech Inc., GlaxoSmithKline Plc., Janssen Biotech Inc., Myovant Sciences Ltd., Novartis AG, Pfizer Inc., Progenics Pharmaceuticals Inc., Sanofi S.A., Spectrum Pharmaceuticals Inc., Takeda Pharmaceutical Company Limited, and TOLMAR Pharmaceuticals Inc.

The research report titled "Prostate Cancer Therapeutics: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, mergers and acquisitions, and other strategic industry activities of major companies worldwide. The report provides market estimates and projections for geographic markets, such as the US, Canada, Europe (France, Germany, Italy, UK, Spain, and Rest of Europe), and Rest of World. Therapy segments analyzed for the market include Hormone Therapy and Others (which include Radiation Therapy, Immunotherapy, and Chemotherapy).  

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