Metastatic Prostate Cancer Market (Drug Type - Biological Therapy, Chemotherapy, Hormone Therapy, and Others; Distribution Channel - Hospital Pharmacies, Drug Stores, Retail Pharmacies, and Online Pharmacies): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

A recent report published by Infinium Global Research on the metastatic prostate cancer market provides an in-depth analysis of segments and sub-segments in the global as well as regional metastatic prostate cancer market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional metastatic 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 the global metastatic prostate cancer market. According to the report, the global metastatic prostate cancer market is projected to grow at a CAGR of 8% over the forecast period of 2021-2027. The market grew from around USD 996 million in 2021 to nearly USD 1630 million in 2027.

Market Insight

Prostate cancer occurs when a tumor matures in the prostate gland, making a liquid portion of semen. Cancer that spreads outside the prostate gland to the lymph nodes, bones, or other areas is called metastatic prostate cancer. Currently, no treatments as such can be cured advanced prostate cancer. However, there are many different ways to help control its spread and related symptoms including immunotherapy, hormone therapy, chemotherapy, precision medicine, and clinical trials. There are a few different options for treatments of Metastatic Prostate Cancer Treatment such as Immunotherapy / Provenge, Hormone Therapy, Chemotherapy, Precision medicine, Clinical trials. When prostate cancer spreads beyond the prostate or returns back even after the treatment, it is often called advanced prostate cancer. Prostate cancer is often grouped into four different stages, with stages III and IV being the more advanced prostate cancer.  The COVID-19 outbreak had a significant impact on the pharmaceutical industries and every other sector across the world. Treating patients efficiently during the pandemic crisis had become a challenging job for the clinics also. The outbreak led to the shutdown of all other manufacturing industries except for masks, sanitizers, and ventilators as the government issued regulations in order to spread the virus in which people were restricted to move out of their houses, maintaining social norms. Which in turn had a major impact on the drugs industries in their sales and production activities due to disruption in supply chain activities as country boundaries were also been closed. Furthermore, the future demand for global metastatic prostate cancer treatment had a negative impact on its market growth across the globe.

An increase in the investment in research for the development of therapeutic products to treat these tumors and innovative technologies in screening and diagnostics testing is expected to boost the market growth in the upcoming years. This growth is attributed to increasing expenditure on oncology medicine research, favorable health insurance, and a rise in prostate cancer incidence & prevalence rate. Owing to various side effects of the treatment, the high cost of the treatment, and poor reimbursement policies costs, the expensive nature of combination therapies will hamper the market growth. Moreover the launch of new effective products and improved R&D investment by drug innovators will provide market growth opportunities to grow in the forthcoming years.

Among the regions, the North American region accounted for the largest share of the global Metastatic Prostate Cancer Treatment market. Due to the increasing number of patients with Metastatic prostate cancer cases. The existence of a highly developed healthcare infrastructure, the availability of advanced diagnostic tools for the treatment, and many key market players in this region are developing oncology products, the rising awareness, and increasing research and development to grow its market. However, the Asia Pacific region is anticipated to grow at the highest rate in the global Metastatic Prostate Cancer Treatment market over the forecast period. Owing to the prevalence rate, highly developed countries like China, Japan, and India are investing more in improving their healthcare system. These are the few factors that are driving the growth of the market in the forecast period.

Segment Covered

The report on the global metastatic prostate cancer market covers segments such as drug type, and distribution channel. On the basis of drug type, the sub-markets include biological therapy, chemotherapy, hormone therapy, and others. On the basis of distribution channel, the sub-markets include hospital pharmacies, drug stores, retail pharmacies, and online pharmacies.

Companies Profiled:

The report provides profiles of the companies in the market such as AstraZeneca plc, Novartis, SeleXel, Telix Pharmaceuticals, Zenith Epigenetics Ltd, Genentech, Sanofi, Bayer AG, Astellas Pharma, and GlaxoSmithKline Plc.

Report Highlights:

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 metastatic prostate cancer market. Moreover, the study highlights current market trends and provides forecasts from 2021-2027. 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.