A recent report published by Infinium
Global Research on the prostate cancer therapeutics market provides an in-depth
analysis of segments and sub-segments in the global as well as regional
prostate cancer therapeutics market. The study also highlights the impact of
drivers, restraints, and macro indicators on the global and regional prostate
cancer therapeutics market over the short term as well as long term. The report
is a comprehensive presentation of trends, forecasts, and dollar values of the global
prostate cancer therapeutics market. According to the report, the global
prostate cancer therapeutics market is projected to grow at a CAGR of 8.5% over
the forecast period of 2022-2028.
The revenue generated by the
market was approximately USD 12 billion in 2021 and is expected to reach
approximately USD 21 billion in 2028 and is expected to grow with a CAGR of 8.5%
over the forecast period 2022-2028. Prostate cancer is a malignant tumor, or
group of cancerous cells, which arises in the prostate gland, a gland in the
male reproductive system located below the urinary bladder and in front of the
rectum. Prostate cancer may be benign in some cases but can turn metastatic
and become life threatening. Prostate cancer generally occurs in men over the
age of 50. Hereditary factors, diets that have too much red meat content, and
environmental factors affecting the male hormones (androgen) impact the
etiology of prostate cancer. Other than skin cancer, prostate cancer is the
most common cancer in American men. The prostate cancer therapeutics market has a huge
demand for novel drugs that address the unmet medical needs of the patients at increased effectiveness and lower cost.
Innovations in the development of
new drugs and therapies, a large number of new drugs entering the market
with FDA approval, high growth in the hormone-refractory prostate cancer
therapeutics market, and a rise in base of an aging population are the key driving
factors for the growth of this market. In addition, the rise in the prevalence of
prostate cancer, changing lifestyle habits of populations, increased patient
healthcare awareness, and increasing demand for non-invasive therapies are
further expected to propel the market growth in the coming years. Along with
these driving factors, the market for prostate cancer is facing some challenges
such as time consuming regulatory compliance and the high cost of prostate drugs.
However, the market for prostate cancer is likely to rise in the future due to
a large number of ongoing innovations in the treatment of prostate cancer.
New opportunities are expected to arise as investments in the R&D of cancer
therapeutics are growing.
Over the projection period, North
America is expected to lead the market. According to the American Cancer
Society, there will be 268,490 new cases of prostate cancer diagnosed and
34,500 prostate cancer deaths in the United States alone. Government assistance
and spending on cancer research R&D are driving the industry in North
America forward. Access to prostate cancer therapies is facilitated by advanced
healthcare infrastructure, which includes specialized cancer hospitals,
institutes, and clinics. In North America, the market players offer a variety
of prostate cancer therapies. Pfizer Inc. and others are among the market
participants. The market is also supported by government backing through
healthcare programs for prostate cancer and high income levels of people.
Because of its advanced healthcare infrastructure and high per capita income,
Europe is likely to be the second largest region in the market after North
The report on the global prostate
cancer therapeutics market covers segments such as components and distribution
channels. On the basis of components, the sub-markets include hormonal therapy,
chemotherapy, immunotherapy, and radiation therapy. On the basis of
distribution channels, the sub-markets include hospital pharmacy, retail
pharmacy, and sales and diabetes.
The report provides profiles of
the companies in the market such as Pfizer Inc., Abbott Laboratories,
AstraZeneca plc, Astellas Pharma Inc., Bristol-Myers Squibb, Johnson &
Johnson, Sanofi, AbbVie, Inc., Teva Pharmaceuticals, and Takeda Pharmaceuticals.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the prostate cancer therapeutics market. Moreover, the study highlights
current market trends and provides forecasts from 2022 to 2028. We also have
highlighted future trends in the market that will affect the demand during the
forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.