Prostate Cancer Therapeutics Market Overview:
According to data published by the World Cancer Research Fund International, in 2012 more than 1.1 million cases of prostate cancer were reported, accounting for about 8% of total cases of tumours. Although the exact cause of prostate cancer is not known, associated factors include overweight, obesity, and a history of any other tumour growth. Even patients with cardiovascular disease are prone to cancer. Therefore, the increase in the incidence rate of the aforementioned conditions led to the market growth of cancer drugs. Through therapy, hormone therapy dominates the global market for prostate cancer drugs with a market share of 66% in 2010 and is expected to represent 53% of the market in 2020.
Global prostate cancer therapeutics market was valued at USD XX million in 2017 and it is expected to reach USD XX million by 2021. It is estimated that the market will grow at a CAGR of XX% during the forecast period 2017 to 2021.
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Drivers and restrictions:
The adoption of innovative technologies in screening and diagnostic tests should stimulate growth. The incorporation of multi-MRI (mp-MRI) can significantly improve the detection of a tumour and also confirms the need for a tissue biopsy. In addition, market participants are investing in research for the development of therapeutic products for the treatment of these tumours. For example, there is a strong line of products such as Tc-99m (Progenics), radium 223 dichlorides (Xofigo, Bayer), ODM-201 (Orion and Bayer), which are in phase 3 and are expected to enter production the market in the near future. In addition, many generic products are likely to enter the market due to the expiration of the patent of existing key products in the forecast period. Along with screening and diagnostic testing, it is essential to publicize the availability of medications to break the social stigma associated with the treatment of cancer and encourage patients to take advantage of assistance times. Governments in developed countries strive to direct and implement screening programs such as prostate-specific blood test (PSA) and digital rectal examination (DRE) in men over 50 years of age. Prostate Cancer Canada was created to support the research, treatment and prevention of prostate cancer. These awareness programs are also underway in developing countries such as China, India and Brazil. However, the high cost associated with tissue biopsy, especially at the advanced stage of a tumour and the doctor’s consultation price, should slow down the growth rate. In addition, factors such as low reimbursement of treatment costs may adversely affect the rate of adoption of procedures.
Geographical segmentation of Prostate Cancer Therapeutics Market:
North America led the global market with most of the revenues in 2016. The increasing prevalence and high rate of deaths from prostate cancer in the United States are the main reasons for dominance in the region. In addition, this region is investing heavily in R & D for the development of new immunotherapies and pharmacological therapies directed to treat these tumours. Asia-Pacific is expected to be the fastest growing market during the forecast period. The awareness of these tumours would mainly lead to rapid growth. The governments of several countries in the region play a vital role in raising awareness through online programs and portals that provide detailed information on screening and diagnosis through PSA and DRE blood tests for men over 50 years of age. The adoption of new technologies, the improvement of health infrastructures and the growing investments of market agents for the development of immunotherapies and targeted therapies, which translate into high potential are factors that can stimulate growth in the region of Asia Pacific. In China, the main actors are collaborating with local and government institutions, such as the Chinese Association of Urology, to conduct research on the treatment of prostate cancer. As a result, Asia-Pacific is expected to be the fastest growing region.
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Key Players of Prostate Cancer Therapeutics Market
Some of the main players in the Prostate Cancer Therapeutics Market include Johnson & Johnson; Astella, Inc.; Sanofi; Ipsen; Bayer AG; AstraZeneca; and Valeant Pharmaceuticals North America LLC (Dendreon Corporation). These big players dominate the market due to their strong brand identity associated with a wide geographical coverage.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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