The global prostate cancer treatment market size reached US$ 7.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.8% during 2023-2028.
Prostate cancer is a type of severe malignant tumor, which is caused by the uncontrollable division and expansion of various abnormal cells in the prostate gland present in men. It can be treated through the use of various therapeutics, such as vaccines, medications, and treatments. Amongst these, chemotherapy, immunotherapy, cryotherapy, surgery, hormonal, targeted and radiation therapy are some of the most common treatment types that aid in mitigating the spread of cancer cells in the body. These therapies are provided to the patient based on various assessments, such as the age of the patient, severity of the symptoms experienced, medical condition, and previous health history.
Prostate Cancer Treatment Market Trends:
The increasing prevalence of prostate cancer, especially amongst the rising geriatric population, is one of the prime factors currently driving the market toward growth. In line with this, the availability of favorable medical reimbursement policies and the numerous initiatives being undertaken by the government bodies of several countries for introducing patient assistance programs (PAPs) are acting as other growth-inducing factors. PAP is an organized program, which is controlled by pharmaceutical companies for providing financial assistance to patients by offering free medications for treatment purposes. Moreover, significant technological advancements, such as the integration of multiparametric-magnetic resonance imaging (mp-MRI) devices with non-metastatic castration-resistant (nmCRPC) and metastatic hormone nave (mHNPC) settings for detecting prostate cancer at early stages, while mitigating diagnostic errors, is also contributing to the market growth. Additionally, extensive investments in the research and development (R&D) activities to introduce novel therapeutic products, along with their easy availability across various online and offline distribution channels, are creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global prostate cancer treatmentmarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on drug type and distribution channel.
Breakup by Drug Type:
Breakup by Distribution Channel:
Drug Stores and Retail Pharmacies
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
Base Year of the Analysis
Drug Type, Distribution Channel, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
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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Key Questions Answered in This Report
The global prostate cancer treatment market was valued at US$ 7.2 Billion in 2022.
We expect the global prostate cancer treatment market to exhibit a CAGR of 5.8% during 2023-2028.
The rising integration of multiparametric-Magnetic Resonance Imaging (mp-MRI) devices with non-metastatic Castration-Resistant (nmCRPC) and metastatic Hormone Nave (mHNPC) settings to detect prostate cancer at early stages and mitigate diagnostic errors is primarily driving the global prostate cancer treatment market.
The sudden outbreak of the COVID-19 pandemic had led to the postponement of elective prostate cancer treatments to reduce the risk of the coronavirus infection upon hospital visits or interaction with healthcare professionals and medical equipment.
Based on the drug type, the global prostate cancer treatment market has been segregated into chemotherapy, biological therapy, hormone therapy, and others. Among these, hormone therapy currently exhibits clear dominance in the market.
Based on the distribution channel, the global prostate cancer treatment market can be bifurcated into hospitals pharmacies, drug stores and retail pharmacies, and online pharmacies. Currently, hospitals pharmacies hold the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global prostate cancer treatment market 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.
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