Prostate Cancer Market, By Therapy Type (Medication (Hormone Therapy, Chemotherapy, Immunotherapy), Radiation Therapy (External-Beam Radiation Therapy, and Brachytherapy), and Focal Therapy (Cryosurgery, High-Intensity Focused Ultrasound (HIFU)), By Geography (North America, Asia-Pacific, Europe, South America, and Row), Industry Analysis, COVID-19 Impact Analysis, Size, Share, Growth, Trends, And Forecasts 2021-2028
The global prostate cancer market size is estimated at 9,988 million USD with a CAGR of 4.8 % during the forecasted period from 2021-2028
The global prostate cancer market size is estimated at 9,988 million USD with a CAGR of 4.8 % during the forecasted period from 2021-2028. Prostate cancer is the most frequently diagnosed cancer in men. In relations of loss of life from any disease, prostate cancer lines eleventh; and it ranks sixth in terms of cancer-related mortality in men. The prostate cancer market has a high demand for novel and new drugs that address unmet needs such as improved survival time, improved progression free survival, less toxicity, increased effectiveness, and lesser price.
The increasing occurrence of prostate cancer is propelling the global prostate cancer market. For instance, as per the World Cancer Research Fund International, Prostate cancer is the second most commonly occurring cancer in men. There were 1.3 million new cases of prostate cancer in 2018.
On the other hand, high price associated with prostate cancer therapies and drugs might restrict the market growth.
The increasing incidence of prostate cancer is boosting the global Prostate Cancer market. For instance, according to the World Cancer Research Fund International, Prostate cancer is the second most commonly occurring cancer in men. There were 1.3 million new cases of prostate cancer in 2018.
In 2019, according to the American Cancer Society, there will be about 174,650 men with newly diagnosed prostate cancer, which is a 6% increase from 2018. There will also be an estimated 31,620 deaths from prostate cancer in 2019, which is a 7% increase from 2018.
According to Prostate Cancer UK, in 2018, around 400,000 men are living with prostate cancer, around 900 men die from prostate cancer every year in Scotland, more than 9,000 men die from prostate cancer every year in England, around 600 men die every year from prostate cancer in Wales, more than 200 men die every year from prostate cancer in Northern Ireland.
The high cost associated with prostate cancer drugs and therapies might hamper market growth. For example, The Economist Intelligence Units forecasts show that the economic costs of prostate cancer in Brazil could rise by 50% to US$1.8bn per year by 2022, driven mainly by population dynamics and healthcare spending patterns.
Based on technology, the global Prostate Cancer market is broadly segmented as Therapy Type (Medication (Hormone therapy, Chemotherapy, Immunotherapy), Radiation Therapy (External-beam radiation therapy, and Brachytherapy), and Focal Therapy (Cryosurgery, High-intensity focused ultrasound (HIFU))). In 2018 Medication is the dominant segment, and it accounts for approximately 50% of the market.
The medication includes Hormone therapy, Chemotherapy, and Immunotherapy. Hormone therapy is also called androgen deprivation therapy (ADT) or androgen suppression therapy, is to reduce levels of male hormones, called androgens, in the body, and to stop them from affecting prostate cancer cells. Chemotherapy is used if prostate cancer spread outside the prostate gland, and hormone therapy does not work. Some of the chemo drugs used to treat prostate cancer include Docetaxel (Taxotere), Cabazitaxel (Jevtana), Mitoxantrone (Novantrone), and Estramustine (Emcyt). Immunotherapy treatment is approved by the Food and Drug Administration (FDA) for prostate cancers. Provenge is an FDA-approved immunotherapy treatment, designed to boost the immune response to prostate cancer cells. The vaccine is used to treat men with advanced prostate cancer.
The increasing regulatory approval for prostate cancer treatment is boosting the global prostate cancer market. For instance, on February 14, 2018, Janssen Pharmaceutical, has received the U.S. Food and Drug Administration approval for Erleada (apalutamide) to treat patients with prostate cancer that has not spread (non-metastatic). It is the first FDA-approved treatment for non-metastatic, castration-resistant prostate cancer.
The increasing clinical trial for prostate cancer treatment is boosting the global prostate cancer market. For instance, on February 11, 2019, Pfizer Inc. and Astellas Pharma Inc., have completed the Phase 3 ARCHES trial in men with metastatic hormone-sensitive prostate cancer (mHSPC). The ARCHES trial demonstrated that XTANDI plus standard hormonal therapy delayed disease progression, and has the potential to be an important treatment option for men with prostate cancer that has spread but has not yet become hormone resistant.
The global Prostate Cancer market is segmented into North America, Europe, Asia-Pacific, South America, Middle East, and Africa.
North America is dominating the global Prostate Cancer market, due to the growing incidence of prostate cancer in the U.S. For instance, According to WHO, there were around 212,783 new cases of prostate cancer in the US by September 2018. According to the World Health Organization (WHO), about one in nine men in the U.S. has been diagnosed by prostate cancer during their lifetime, and it is the second leading cause of cancer deaths for American men, according to the American Cancer Society’s 2018 estimates.
The regulatory approval for Prostate Cancer treatment in the U.S is boosting the North America prostate cancer market. For instance, on May 23, 2018, Sun Pharmaceutical Industries Ltd., and Churchill Pharmaceuticals, LLC. (Churchill), have received U.S. Food and Drug Administration (FDA) approval for YONSA (abiraterone acetate), a novel formulation in combination with methylprednisolone, for the treatment of patients with metastatic castration-resistant prostate cancer (mCRPC).
The North America Prostate Cancer market size was XX million USD in 2018, and it will be 4,496.9 million USD in 2026, with a CAGR 15.5% from 2019 to 2026.
Europe is the second largest market for Prostate Cancer in 2018, due to the growing incidence of prostate cancer in the European region. For instance, the incidence rate for prostate cancer is 111.1 per 100,000 in the UK, compared to a European average of 105.5 per 100,000.3 in 2017. Furthermore, in 2017, the rate of newly diagnosed cases of prostate cancer in the UK is 3% higher than the European average of 23%. The mortality rate in the UK is 22.8 per 100,000. According to WHO, there were around 71,888 new cases of prostate cancer identified in Germany by September 2018.
The major players include Astellas, Inc., AstraZeneca plc, Johnson & Johnson, Sanofi S.A, Bristol Myers Squibb (BMS), Bayer AG, Pfizer, Roche, and Others.
The strategic collaboration between companies for the increasing fund for prostate cancer is boosting the global prostate cancer market. For instance, May 30, 2019, Telix Pharmaceuticals Limited has collaborated with Winship Cancer Institute of Emory University, a prostate cancer imaging clinical collaboration. The collaboration, funded by a USD 3.4 Million grant from the National Institutes of Health (NIH), will utilize positron emission tomography (PET) imaging with FDA approved fluciclovine (Axumin 1) or Telix’s investigational 68Ga-PSMA kit, marketed as illumet in the United States.
The regulatory approval for prostate cancer treatment is boosting the global prostate cancer market. For instance, December 19, 2016, INSIGHTEC Ltd., has received CE Mark for treating locally-confined prostate cancer with MR-guided Focused Ultrasound (MRgFUS). Exablate Prostate system uses focused ultrasound waves to precisely target and ablate (destroy), the targeted tissue in the prostate, while minimizing damage to adjacent structures. The treatment is done under Magnetic Resonance Imaging (MRI) guidance for high-resolution visualization of the patient’s anatomy as well as real-time temperature monitoring.
Global Prostate Cancer Market
- Consumption by Regions
- North America
- South America
- Asia Pacific
- The Middle East and Africa
- Segment by Therapy Type
- Hormone therapy
- Radiation Therapy
- External-beam radiation therapy
- Focal Therapy
- High-intensity focused ultrasound (HIFU)
- Consumption by Regions
Table of Content
- The following manufacturers are covered:
- Astellas, Inc.,
- AstraZeneca Plc
- Johnson & Johnson
- Sanofi S.A
- Bristol Myers Squibb (BMS)
- Bayer AG
- The following manufacturers are covered: