The global prostate cancer treatment market is expected to grow at a CAGR of around 4.8% from 2020 to 2027 and projected to reach the market value of around US$ 10.4 Bn by 2027.
Prostate cancer is the most common cancer among men after skin cancer. Prostate cancer is a disease in which malignant (cancer) cells form in the tissues of the prostate. Signs of prostate cancer include a weak flow of urine or frequent urination. Other than skin cancer, prostate cancer is the most common cancer in American men. As per the estimates revealed by the American Cancer Society, prostate cancer in the US for 2021 is about 248,530 new cases registered for prostate cancer. However, about 34,130 deaths are registered from prostate cancer. Additionally, prostate cancer is the second leading cause of cancer death in American men, behind only lung cancer. About 1 man in 41 will die of prostate cancer according to the estimates released by the American Cancer Society.
What's new in Prostate Cancer Treatment?
Radiation is a common treatment for prostate cancer. It helps to damage tumor cells and causes them to die. As per the Clinicaltrials.gov, National Institutes of Health Clinical Center (CC) (National Cancer Institute (NCI) is conducting detailed imaging studies to overlook at the results of local radiation therapy for treatment of prostate cancer. The radiation therapy is conducted on patients suffering from Prostatic Neoplasms and Prostate Cancer. The actual start date was recorded on November 2013 and estimated completion date is February 2028.
Research and development (R&D) is racing to bolster several treatment options
National Cancer Institute (NCI)-supported researchers are developing new imaging techniques that improve the diagnosis of recurrent prostate cancer. A protein called prostate-specific membrane antigen (PSMA) is found in large amounts and almost exclusively in prostate cells. Through a fusion of molecules that bind to PSMA to a compound used in positron emission tomography (PET) scan imaging, scientists are able to view tiny deposits of prostate cancer that are small in size to get detected by regular imaging. Additionally, American Society of Gene & Cell Therapy, Gene and cell therapies represent an exciting option for the treatment and prevention of prostate cancer. Currently, there are 157 clinical trials comprising of gene therapies for prostate cancer and a staggering 1040 trials involving cell therapies. Moreover, development of initial gene and cellular therapies is an emerging topic for the researchers that have came to light for prostate cancer through providing treatment options with hormonal or chemotherapy. For instance, byte (bi-specific antibody) therapy and chimeric antigen receptor therapy (CART) against the prostate specific membrane antigen (PSMA). Prostate stem cell antigen is actively under investigation and radio labeled lutein antibodies directed against PSMA have completed phase III trials and it represents to become mainstays of both imaging and treatment.
Rising awareness regarding prostate cancer treatment among population is having 100% gains in the forecast period
As per the New Zealand Government, men and their families are able to make informed decisions and receive consistent support for the early detection and treatment of prostate cancer. This is achieved by greater access to information on prostate specific antigen (PSA) testing. With a strong support from the Health Committee for the early detection and treatment of prostate cancer, it has resulted in decline of the cases registered due to prostate cancer. Evidence suggests that level of access to healthcare is associated with the quality of the outcome in prostate cancer. In February 2012, the Ministry appointed the Prostate Cancer Taskforce (the Taskforce) to support the development of the quality improvement program. The healthcare providers play a pivotal role in sharing the decision with men about checking for prostate cancer and the management of men with diagnosed prostate cancer. For the majority of men, general practitioners (GPs) are the first point of contact in the healthcare system. The outcome of the interaction determines that whether men will have a PSA test coupled with influencing or referring to a urologist for a prostate biopsy.
Prostate cancer treatment market is segmented based on drug type and distribution channel. By drug type, the market is segmented into chemotherapy, biological therapy, hormone therapy, and others. Furthermore, by distribution channel, the market is segregated as hospitals pharmacies, drug stores & retail pharmacies, and online pharmacies.
Based on the drug type, hormone therapy dominates the prostate cancer treatment market globally. Product approvals by the authorized bodies, increasing demand for hormone therapy drugs, and availability of generic drugs coupled by pharmaceutical companies. According to the National Cancer Institute (NCI), several new approaches related to hormone therapy are developed for advanced or metastatic prostate cancer for clinical use. Over the course of time, many prostate cancers that originally respond to treatment with standard hormone therapy become resistant with time, resulting in castrate-resistant prostate cancer (CRPC). Currently, there are three newer drugs that have shown to extend survival in men with CRPC. These involve Enzalutamide (Xtandi), Abiraterone (Zytiga), and Darolutamide (Nubeqa). These newer drugs block the action of hormones that drives CRPC. For instance, in May 2020, the Food and Drug Administration (FDA), approved "rucaparib". This is a new medication to treat some patients suffering from prostate cancer. Additionally, "olaparib" was approved by the FDA for certain metastatic prostate cancer that is less responsive to hormone therapy.
Based on distribution channel, hospital pharmacies will account significant revenue for the growth of prostate cancer treatment market globally. This is attributed to presence of hospital pharmacies across the globe, surge in number of hospitalized prostate cancer patients, and convenience offered by the hospital pharmacies. It is witnessed that online pharmacies is the fastest growing segment in the forecast period due to rising awareness regarding online pharmacies, increasing number of internet users, and surging preference for online purchase of drugs over the traditional methods.
North America holds the dominating share for the growth of prostate cancer treatment market. Rising awareness of the disease coupled with government initiatives, surging availability of treatment options for the ever-growing patient pool, and advancements in diagnosis of prostate cancer in patients are the factors that contribute to the fullest for the growth of regional market of prostate cancer treatment. On the other hand, Asia-Pacific is expected to provide lucrative opportunities for the regional growth of prostate cancer treatment market. The factors that support the APAC growth involve increasing investments for R&D activities, new developments in treatment options at regional level, and new drug and treatment approvals by creating a strong pipeline are the factors that contribute for the growth of prostate cancer treatment market.
Key players operating in the global prostate cancer treatment market are Dendreon Pharmaceuticals LLC., AstraZeneca plc, Johnson & Johnson Services, Inc., Sanofi S.A., Abbott Laboratories, Astellas Pharma Inc., Bristol-Myers Squibb Company, Bayer AG, and among others.
Market By Drug Type
Market By Distribution Channel
Drug Stores & Retail Pharmacies
Market By Geography
Middle East & Africa
Prostate cancer treatment market is expected to reach a market value of around US$ 10.4 Bn by 2027.
The prostate cancer treatment is expected to grow at a CAGR of around 4.8% from 2020 to 2027.
Drug type segment is the leading segment in the overall market.
Research and development (R&D) is one of the prominent factors that drive the demand for prostate cancer treatment market.
Dendreon Pharmaceuticals LLC., AstraZeneca plc, Johnson & Johnson Services, Inc., Sanofi S.A., Abbott Laboratories, Astellas Pharma Inc., Bristol-Myers Squibb Company, Bayer AG, and among others.
North America is anticipated to grab the highest market share in the regional market
Asia Pacific is expected to be the fastest growing market in the forthcoming years