Global Prostate Cancer Treatment Market to Reach US$ 12.1 Billion by 2032, Impelled by Increasing Prevalence of Prostate Cancer

February 23, 2023 | Healthcare

According to the latest report by IMARC Group, titled "Prostate Cancer Treatment Market Report by Drug Type (Chemotherapy, Biological Therapy, Hormone Therapy, and Others), Distribution Channel (Hospitals Pharmacies, Drug Stores and Retail Pharmacies, Online Pharmacies), and Region 2024-2032," the global prostate cancer treatment market reached a value of US$ 7.7 Billion in 2023. Prostate cancer refers to a type of malignant tumor that occurs in a man's prostate, a small walnut-sized gland that produces the seminal fluid to nourish and transport sperm. Its symptoms include trouble urinating, erectile dysfunction, decreased force in the urine stream, blood in the urine and semen, bone pain, and losing weight without trying. Prostate cancer treatment involves removing the prostate gland, some surrounding tissue, and lymph nodes. Surgery or radiation therapy is often prescribed for prostate cancer treatment in combination with other therapies. Robot-assisted laparoscopic prostatectomy and retropubic surgery are gaining widespread prominence among healthcare professionals, along with external beam radiation therapy and brachytherapy. Some of the other therapies used to treat prostate cancer are ablative therapy, hormone therapy, chemotherapy, immunotherapy, and targeted drug therapy.

Global Prostate Cancer Treatment Market Trends:

The global market is majorly driven by the increasing cases of prostate cancer. In line with this, the rising sedentary lifestyle of individuals and the growing geriatric population are significantly contributing to the market. Furthermore, the early onset of urological disorders and the provisions of coverage of reimbursements from health insurance companies are positively influencing the market. Apart from this, significant advancements in prostate cancer therapies, including abiraterone acetate, cabazitaxel, enzalutamide, radium-233, and sipuleucel-T, are expected to catalyze the market growth. Moreover, the escalating prevalence of obesity at a young age is propelling the market. Besides, the adoption of novel screening and diagnostic technologies and the increasing government support for new therapies to cure prostate cancer are favoring the market expansion. The leading market players are focusing on developing new treatments and cures with a strategy that includes exome sequencing, proteome profiling, and whole-genome sequencing, which is anticipated to bolster the market. Additionally, strong emerging pipeline drugs and heavy investments in research and development (R&D) by drug innovators are providing a boost to the market. Some of the other factors driving the market include the rising awareness among the masses regarding prostate cancer treatment, the availability of new prostate cancer treatments, and the growing healthcare expenditure. On account of the factors above, the market is anticipated to reach a value of US$ 12.1 Billion by 2032, exhibiting a CAGR of 5.1% during 2024-2032. 

Market Summary:

  • On the basis of the drug type, the market has been categorized into chemotherapy, biological therapy, hormone therapy, and others.
  • Based on the distribution channel, the market has been classified into hospital pharmacies, drug stores and retail pharmacies, and online pharmacies.
  • On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and the Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key players include Astellas Pharma Inc., AstraZeneca plc, Bayer Aktiengesellschaft, Dendreon Pharmaceuticals LLC. (Sanpower Group Co. Ltd.), F. Hoffmann-La Roche AG, Ferring B.V., GlaxoSmithKline Plc, Ipsen (Mayroy SA), Novartis International AG, Takeda Pharmaceutical Company Ltd. and Tolmar Pharmaceuticals Inc.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Drug Type, Distribution Channel, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Astellas Pharma Inc., AstraZeneca plc, Bayer Aktiengesellschaft, Dendreon Pharmaceuticals LLC. (Sanpower Group Co. Ltd.), F. Hoffmann-La Roche AG, Ferring B.V., GlaxoSmithKline Plc, Ipsen (Mayroy SA), Novartis International AG, Takeda Pharmaceutical Company Ltd. and Tolmar Pharmaceuticals Inc.
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Global Prostate Cancer Treatment Market to Reach US$ 12.1 Billion by 2032, Impelled by Increasing Prevalence of Prostate Cancer
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