USD 11.28 billion
Prostate Cancer Therapeutics Market Size, Share, Growth Analysis, By Type(Chemotherapy, hormone therapy, immunotherapy, targeted therapy and others), By Application(Clinic, hospitals and others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35I2172 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
63
|Figures:
75
Prostate Cancer Therapeutics Market Insights
Prostate Cancer Therapeutics Market size was valued at USD 12.20 billion in 2022 and is poised to grow from USD 13.20 billion in 2023 to USD 24.80 billion by 2031, growing at a CAGR of 8.20% during the forecast period (2024-2031).
The Global Prostate Cancer Therapeutics Market is a dynamic and rapidly evolving sector within the healthcare industry. Prostate cancer, a prevalent form of cancer among men, has prompted significant advancements in treatment options, leading to a substantial market growth. The market is driven by factors such as an increasing aging population, rising awareness about early diagnosis, and advancements in medical technologies. Various treatment modalities are available, including surgery, radiation therapy, chemotherapy, hormone therapy, immunotherapy, and targeted therapy, offering a wide range of options for patients and healthcare professionals. Additionally, precision medicine and personalized therapies are gaining momentum, enabling tailored treatments based on individual patient characteristics. The market is characterized by the presence of key players, pharmaceutical companies, research organizations, and collaborations between academic institutions and industry players. However, challenges such as high treatment costs, adverse effects associated with therapies, and the need for effective biomarkers for accurate diagnosis and treatment monitoring remain. The market is witnessing a surge in innovative approaches, such as the development of novel drug delivery systems and the integration of artificial intelligence and machine learning in diagnostics and treatment decision-making. Additionally, the emergence of combination therapies and the exploration of alternative treatment approaches, such as immunotherapies and gene therapies, are expected to further revolutionize the prostate cancer therapeutics landscape in the coming years.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Hormone Therapy
Fastest Growth
Hormone Therapy
Growth Rate
8.2% CAGR
Global Prostate Cancer Therapeutics Market ($ Bn)
Country Share for North America Region (%)
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Prostate Cancer Therapeutics Market Segmental Analysis
The Global Prostate Cancer Therapeutics Market is segmented by type, application, and region. Based on type, the market can be segmented into Chemotherapy, hormone therapy, immunotherapy, targeted therapy and others. Based on application, the market is segmented into Clinic, hospitals and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
The dominant segment in the Global Prostate Cancer Therapeutics Market is hormone therapy. Hormone therapy, also known as androgen deprivation therapy (ADT), is widely utilized as the primary treatment for advanced prostate cancer. It works by reducing the levels of androgens, such as testosterone, to inhibit the growth of cancer cells. Hormone therapy has proven efficacy and is often combined with other treatment modalities to enhance therapeutic outcomes.
On the other hand, the fastest-growing segment in the market is targeted therapy. Targeted therapies are designed to specifically target cancer cells while minimizing damage to healthy cells, thus offering a more precise and effective treatment approach. They work by targeting specific molecules or pathways involved in the growth and survival of cancer cells. With ongoing advancements in molecular profiling and understanding of the genetic mutations associated with prostate cancer, targeted therapies are rapidly emerging as a promising treatment option. These therapies hold immense potential for improved patient outcomes and are expected to witness significant growth in the coming years.
Analysis by Application
Hospitals dominated the Global Prostate Cancer Therapeutics Market. Hospitals play a critical role in the diagnosis, treatment, and management of prostate cancer. They offer comprehensive medical services, including specialized equipment, skilled healthcare professionals, and a multidisciplinary approach to prostate cancer care. Hospitals provide a wide range of treatment options, such as surgery, radiation therapy, chemotherapy, and hormone therapy, making them the primary choice for prostate cancer patients seeking advanced and integrated care.
The fastest-growing segment in the market, based on application is clinics. Clinics are witnessing significant growth due to their convenience, accessibility, and patient-centric approach. Prostate cancer clinics provide specialized services, including screening, diagnosis, treatment, and follow-up care for prostate cancer patients. These clinics often focus on specific aspects of prostate cancer management, such as advanced imaging techniques, genetic counseling, precision medicine, and personalized treatment plans. The growing emphasis on early detection, improved patient engagement, and outpatient-based care models contribute to the rapid growth of clinics in the prostate cancer therapeutics market.
Global Prostate Cancer Therapeutics Market By Type
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Prostate Cancer Therapeutics Market Regional Insights
North America dominated the Global Prostate Cancer Therapeutics Market. North America boasts advanced healthcare infrastructure, a high prevalence of prostate cancer, robust research and development activities, and significant investments in oncology treatments. The region is home to key market players, renowned research institutions, and a supportive regulatory framework, contributing to the dominance of North America in the prostate cancer therapeutics market.
Asia Pacific is the fastest-growing region in the market. The Asia Pacific region is witnessing a rapid increase in the prevalence of prostate cancer, primarily due to changing lifestyles, aging population, and improved awareness and diagnostic capabilities. Additionally, rising healthcare expenditure, evolving healthcare infrastructure, and increasing adoption of advanced treatment options are fueling the growth of the prostate cancer therapeutics market in Asia Pacific. Moreover, the region is witnessing a surge in research collaborations, clinical trials, and market expansion initiatives by global pharmaceutical companies, further propelling the market growth in this region.
Global Prostate Cancer Therapeutics Market By Geography
- Largest
- Fastest
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Prostate Cancer Therapeutics Market Dynamics
Drivers
Increasing aging population
- One key driver of the Global Prostate Cancer Therapeutics Market is the increasing aging population. As individuals age, the risk of developing prostate cancer increases, leading to a larger patient pool requiring therapeutic interventions. The aging demographic trend, particularly in developed regions, contributes to the overall growth and demand for prostate cancer therapeutics.
Restraints
High treatment costs associated with prostate cancer therapies
- One key restraint of the market is the high treatment costs associated with prostate cancer therapies. The expenses involved in diagnosis, surgery, radiation therapy, chemotherapy, hormone therapy, and targeted therapies can be significant, posing financial challenges for patients and healthcare systems. The high cost of treatment may limit access to optimal care, particularly in regions with limited healthcare resources or for patients without adequate insurance coverage, potentially hindering market growth and patient outcomes.
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Prostate Cancer Therapeutics Market Competitive Landscape
The competitive landscape of the Global Prostate Cancer Therapeutics Market is characterized by intense competition among market players striving to develop innovative treatment options, expand their product portfolios, and establish strategic collaborations. Key players focus on research and development activities to discover novel therapies and improve existing treatment modalities. The market also witnesses collaborations between pharmaceutical companies, academic institutions, and research organizations to enhance knowledge sharing, accelerate clinical trials, and promote advancements in prostate cancer therapeutics. Additionally, marketing strategies, geographical expansion, and regulatory compliance play crucial roles in shaping the competitive dynamics of the market.
Top Player’s Company Profiles
- Johnson & Johnson Services, Inc. (US)
- Astellas Pharma Inc. (Japan)
- Eli Lilly and Company (US)
- Sanofi (France)
- Ipsen Pharma (France)
- Bayer AG (Germany)
- AstraZeneca (UK)
- Valeant Pharmaceuticals International, Inc. (Canada)
- Merck & Co., Inc. (US)
- Pfizer Inc. (US)
- Novartis AG (Switzerland)
- AbbVie Inc. (US)
- Takeda Pharmaceutical Company Limited (Japan)
- Roche Holding AG (Switzerland)
- Bristol Myers Squibb Company (US)
- Janssen Pharmaceutical Companies of Johnson & Johnson (US)
- Amgen Inc. (US)
- Ferring Pharmaceuticals (Switzerland)
- Endo Pharmaceuticals (US)
- Medivation, Inc. (US)
Recent Developments
- In March 2022, BioPharma introduced camcevi (leuprolide), a 42mg injection emulsion, for the treatment of advanced prostate cancer in adults. The company also launched the AccordConnects mobile application, providing access to inventory management for Camcevi.
- In January 2021, the U.S. Food and Drug Administration (FDA) approved Relugolix, a new drug expected to revolutionize the treatment of advanced prostate cancer. Relugolix, marketed as Orgovyx, demonstrated superior efficacy in reducing testosterone levels among men with advanced prostate cancer in a significant clinical trial.
- In June 2021, Novartis AG announced that the U.S. Food and Drug Administration (FDA) granted Breakthrough Therapy designation (BTD) to 177Lu-PSMA-617 for patients with metastatic castration-resistant prostate cancer (mCRPC). Breakthrough Therapy designation is assigned to drugs undergoing research for serious diseases and exhibiting early clinical evidence of substantial improvement over existing therapies.
Prostate Cancer Therapeutics Key Market Trends
- One key market trend in the global Prostate Cancer Therapeutics Market is the increasing focus on precision medicine. Precision medicine involves tailoring treatment approaches based on individual patient characteristics, such as genetic makeup, biomarkers, and other specific factors. This trend emphasizes the need for personalized and targeted therapies, aiming to enhance treatment outcomes while minimizing side effects. Advancements in molecular profiling technologies and understanding of genetic mutations associated with prostate cancer have paved the way for precision medicine approaches, allowing for more effective and precise treatments tailored to each patient's unique profile.
Prostate Cancer Therapeutics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global Prostate Cancer Therapeutics Market analysis, the market is witnessing significant growth and innovation driven by factors such as an aging population, rising awareness, and advancements in medical technologies. Hormone therapy remains the dominant treatment segment, while targeted therapy is the fastest-growing segment, offering more precise and effective treatment options. Hospitals are the dominant application segment, providing comprehensive care, while clinics are experiencing rapid growth due to their convenience and patient-centric approach. North America leads the market, supported by advanced healthcare infrastructure, while the Asia Pacific region is the fastest-growing market due to increasing prevalence and healthcare advancements. The competitive landscape is marked by intense competition, research and development activities, and strategic collaborations. However, high treatment costs pose a restraint. Precision medicine is a key trend, focusing on personalized therapies based on individual patient characteristics. Overall, the market is poised for continued growth, fueled by ongoing advancements and efforts to improve patient outcomes and quality of life.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 12.20 billion |
| Market size value in 2031 | USD 24.80 billion |
| Growth Rate | 8.20% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Prostate Cancer Therapeutics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Prostate Cancer Therapeutics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Prostate Cancer Therapeutics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Prostate Cancer Therapeutics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Prostate Cancer Therapeutics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Prostate Cancer Therapeutics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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