A recent research report published by MarkNtel Advisors states that the Global Prostate Cancer Market would register around 10.8% CAGR during 2022-27, primarily on the back of the rapidly increasing patient pool for prostate cancer and massive investments in the healthcare infrastructure in order to cater to the high unmet patient needs. With the rising influx of prostate cancer patients across different corners of the world, the demand for screening tests, diagnosis, and treatments is also elevating swiftly and instigating the leading players to introduce novel therapeutics.
Governments of different countries are substantially investing in R&D activities for procuring effective therapeutics, spreading awareness among people about the availability of diagnosis & therapies, initiating campaigns & programs for screening tests, and laying out favorable policies for the clinical trials of drugs. Hence, these aspects are projected to pave a lucrative growth path for the market in the coming years, further states the research report, “Global Prostate Cancer Market Analysis, 2022.”
Highly-Efficient Proton Beam Radiation Therapy Drives the Global Market
Radiation therapy is likely to substantially contribute to the expansion of the Global Prostate Cancer Market and generate lucrative opportunities for the leading players during 2022-27. After surgery, the demand for radiation therapy is rapidly growing owing to its superior efficacy in killing prostate cancer cells using External Beam Radiation Therapy (EBRT).
In the process, the high beams of radiation are focused on the gland to destroy the cancer cells and are used prominently in patients with early-stage prostate cancer. This treatment further aids in relieving the pain from bones in case cancer has spread in those areas. Under EBRT treatment, Proton Beam Radiation therapy is expecting swift momentum in the global market while generating prospects for the leading biopharma companies to bring notable improvements in the treatment over the forecast years.
With Rapidly Surging Incidence of Prostate Cancer, Asia-Pacific to Record the Fastest Market Growth
The growing focus of governments of countries like China, Japan, India, etc., on developing robust healthcare infrastructure to cater to patient needs for effective & affordable treatments is the prime aspect driving the Asia-Pacific Prostate Cancer Market. It, in turn, is demonstrating a rise in the number of hospitals, specialty clinics, research centers, etc., and augmenting the demand for more diagnosis equipment & treatment drugs for prostate cancer.
Besides, massive healthcare expenditure & investments in research & development initiatives and the imposition of favorable policies for the clinical trials of drugs are also playing a notable role in augmenting the regional market growth. In addition to this, the rising patient pool for prostate cancer, coupled with the growing awareness about the availability of diagnosis & treatment for prostate cancer, shall further fuel the demand for rapid screening tests & diagnoses and, as a result, fuel the growth of the Asia-Pacific Prostate Cancer Market in the coming years.
The key companies in the Global Prostate Cancer Market include Abbott Laboratories, AbbVie Inc., Amgen Inc., AstraZeneca PLC, Bayer AG, Bristol Myers Squibb, Eisai Co. Ltd., Eli Lilly and Company, F. Hoffmann-La Roche AG, GlaxoSmithKline PLC, Merck & Co., Inc., Novartis International AG, Pfizer Inc., and Sanofi S.A.
Key Questions Answered in the Research Report