Market Definition
The prostate is a part of the male reproductive system, located below the bladder & in front of the rectum, surrounding the urethra. The prostate gland produces fluid, making a part of semen. When cells in the prostate multiply uncontrollably, it is said to be prostate cancer, whose early stages are usually asymptomatic, and the later stages, however, can display a few signs like:
As common as prostate cancer is becoming, the demand for its effective diagnosis & treatment is rapidly rising & instigating various companies to produce novel drugs concentrating on unmet patient needs. Ongoing developments of novel therapeutics for prostate cancer are expected to offer improved survival time, less toxicity, better progression-free survival, effectiveness, & greater affordability for the patient.
Market Insights
The Global Prostate Cancer Market is projected to grow at a CAGR of around 10.8% during the forecast period, i.e., 2022-27. Prostate cancer is one of the most common cancers in males worldwide. With its rising incidence, the demand for effective diagnosis & treatments is also surging rapidly and instigating the governments of different countries to increase their healthcare expenditures.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022-2027) | 10.8% |
| Regions Covered | North America: The US, Canada, Mexico |
| Europe: Germany, The UK, Germany, France, Italy, Spain, Rest of Europe | |
| Asia-Pacific: China, Japan, India, Australia, South East Asia, Rest of Asia-Pacific | |
| South America: Brazil, Rest of Latin America | |
| Middle East & Africa: South Africa, GCC, Rest of Middle East & Africa | |
| Key Companies Profiled |
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., Sanofi S.A., Others |
| Unit Denominations | USD Million/Billion |
It, in turn, is demonstrating increasing R&D activities associated with bringing innovations in drugs for prostate cancer therapies and encouraging the leading players to actively participate in the development, production, & distribution of more and more diagnostic equipment & therapeutic medications for patients.
Governments of several countries are spreading awareness about the availability of diagnosis & treatment for prostate cancer through advertisements, campaigns, screening tests, and by conducting & implementing programs for screening tests like Prostate-Specific Antigen (PSA) blood tests & Digital Rectal Exam (DRE) for male patients above 50 years, and other mediums.
It, in turn, is driving the patient pool for prostate cancer worldwide. Favorable policies for clinical trials of medications are instigating the leading biopharma companies to introduce affordable therapeutics. Moreover, the incorporation of technologies like Multiparametric Magnetic Resonance Imaging (mp-MRI) to enhance the identification of tumors & guide if there is a need for tissue biopsy in prostate cancer is also demonstrating increasing diagnosis and augmenting the market expansion. In addition, the approaching patent expiration of various prostate cancer drugs like Zytiga would further generate lucrative opportunities for the leading players in the Global Prostate Cancer Market over the forecast years.
