The Global Prostate Cancer Market was worth $48 billion in 2016 and estimated to be growing at a CAGR of 9.5%, to reach $75.56 billion by 2021.
The prostate cancer market has a high demand for novel drugs that concentrate on unmet needs such as improved survival time, less toxicity, better progression free survival, improved effectiveness, and lesser cost.
Prostate cancer is a progression of cancer in the prostate, a gland present in the male reproductive system. The cancer cells might reach to the other parts of the body, viz.the bones and lymph nodes from the prostate. In the later stages of cancer it can cause difficulty in urination, blood in the urine, etc.
Prostate cancer is most of the times diagnosed by biopsy.
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These factors such as growing number of novel drugs expected to get launched in short-term future and rising old age male population are driving the growth of the market. Altering lifestyle, technological advancements in researching for new techniques to fight prostate cancer, increase in the funding in both public and private sector in the field of drug advancement are some of the key reasons driving the growth of the market High cost of treatment is restraining the growth of the market.
The global Prostate Cancer market is segmented on the basis of diagnostic techniques into Digital Rectal Exam (DRE) and Prostate Specific Antigen Test (PSA). Based on surgery the market is segregated into Radical Prostatectomy, Orchidectomy and Trans Urethral Resection (TUR).
By radiation therapy, the market is bifurcated into External Beam Radiation Therapy and Brachytherapy.
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External bean radiation therapy segment is further divided among 3D Conformal Radiation Therapy, Intensity Modulated Radiation Therapy, Stereotactic Body Radiation Therapy and Proton Beam Radiation Therapy. Brachytherapy segment is sub segmented into Permanent Brachytherapy and Temporary Brachytherapy.
On the basis of chemotherapy, segments are Docetaxel, Etoposide, Vinblastine, Carboplatin and Vinorelbine.
Based on geography the market is analysed under various regions namely, North America, Latin America, Europe, Asia-Pacific and Middle-East & Africa. North America region holds the largest share in the global prostate cancer market.
However, Asia-Pacific and Latin America region are estimated to record the highest CAGR during the forecast period.
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Major companies include Sanofi S.A, GlaxoSmithKline, AstraZeneca, AbbVie, Varian Medical Systems, Elekta, Theragenics, Pfizer, Novartis, Roche, Bayer, Johnson & Johnson, Abbott Laboratories, and Genentech etc. The market registered substantial growth in the recent years, due to the various strategies such as opting for agreements and collaborations, adopted by leading market players.
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