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A recent report published by Infinium Global Research on prostate cancer market provides in-depth analysis of segments and sub-segments in the global as well as regional prostate cancer market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional prostate cancer market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global prostate cancer market.
Prostate cancer is a prevalent form of cancer in males that affects the prostate gland. A malignant tumor develops when cells inside the gland begin to grow out of control. Age, genealogy, cultural background, and mutations in genes are risk factors. Early stages might not be symptomless, but as it worsens, it might result in pain and urine issues. PSA testing and a biopsy are required for diagnosis. Surgery, radiation, hormone therapy, chemotherapy, and immunotherapy are all available as treatments. Better results depend on early detection. Effective management of prostate cancer requires regular examinations and consultations with medical professionals.
Prostate cancer incidence and prevalence have been continuously rising, mostly because of the aging population, advancements in diagnostic methods, increased awareness, and screening initiatives. The demand for efficient diagnostic and therapeutic alternatives is being driven by this expanding patient base, which is boosting the prostate cancer market's expansion. Additionally, the detection and management of prostate cancer have been transformed by developments in medical technology. The accuracy of prostate cancer identification and staging has increased because of new diagnostic technologies including multiparametric Magnetic Resonance Imaging (MRI) and liquid biopsies. Furthermore, the market is benefiting from rising healthcare expenditure by public and government organizations, particularly in developed nations, as well as increased reimbursement assistance for prostate cancer treatment. The burden of prostate cancer and the need for efficient therapies are being acknowledged by governments and commercial insurance companies. As a result, they are putting policies in place to enhance reimbursement coverage for medicines and procedures for prostate cancer, making them more available and inexpensive for patients. However, in some developing or underdeveloped regions where the healthcare expenditure is less, the cost factor can be a restraint in the prostate cancer market, preventing some patients from accessing timely and appropriate treatment.
The global prostate cancer market is segmented into Asia Pacific, North America, Europe, the Middle East & Africa, and South America. Among the regions, North America is anticipated to dominate the prostate cancer market during the forecast period. There’s considerable growth in this region, because of the increasing aged population, and rising number of prostate cancer cases. Additionally, growth in North America is responsible for the launch of promising new medications in the biologics and hormone therapy sectors. The anticipated launch of a few pipeline medications is anticipated to fuel the local market during the projection period. Also, due to the growing population, unhealthy lifestyle and rising spending in healthcare expenditure prostate market is growing in Asia Pacific region.
| Report Coverage | Details |
|---|---|
| Market Size in 2022 | USD 12.32 Billion |
| Market Size by 2030 | USD 29.52 Billion |
| Growth Rate from 2023 to 2030 | CAGR of 10.0% |
| Largest Market | North America |
| No. of Pages | 255 |
| Market Drivers |
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| Market Segmentation | By Drug Class, By Distribution Channel, and By End User |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global prostate cancer market covers segments such as drug class, distribution channel, and end user. On the basis of drug class, the sub-markets include hormonal therapy, immunotherapy, targeted therapy, and others. On the basis of distribution channel, the sub-markets include hospital pharmacies, drug store & retail pharmacies, online pharmacies, and others. On the basis of end user, the sub-markets include clinic, hospital, and others.
The report provides profiles of the companies in the market such as Pfizer Inc., AbbVie Inc., AstraZeneca, Johnson & Johnson Services, Inc., Merck & Co., Inc., Sanofi, Bayer AG, Clovis Oncology, Inc., Eli Lilly and Company, and Astellas Pharma Inc..
The report provides deep insights into 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 market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. 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.
