Global Prostate Cancer Drugs Market Size, Share, Growth, Industry Trends and Forecast 2020-2030

Prostate cancer is a type of cancer that affects the prostate gland, which is a part of the male reproductive system. The prostate gland is situated in the pelvis, underneath the bladder and in front of the rectum. When the cells in the prostate gland begin to multiply uncontrollably, it gives rise to prostate cancer. Prostate cancer is the second most common type of cancer occurring in men after skin cancer and this is the key factor driving the global prostate drugs market. The global prostate cancer drugs market is accounted approximate USD 7221.2 million in 2020 and it is expected to reach approximate USD 10917.6 million by 2030 with a CAGR of 4.7% during forecast period.
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Market Dynamics and Factors:
The rising geriatric population and the high prevalence of prostate cancer coupled with it is the major factor driving the prostate cancer drugs market. For instance, according to the United Nations, there were around 962 million people aged 60 or above contributing to almost 13% of the global population in 2017. The risk of developing cancer increases significantly with age. Additionally, technological advancements in drug development, strong R&D investments in pharmaceutical sector are going to create lucrative opportunities for the prostate cancer drugs market to grow in the coming years. For instance, in February 2018, Pfizer declared the results of its phase 3 prosper trial in patients with non-metastatic Castration-Resistant Prostate Cancer (CRPC), which demonstrate that the use of XTANDI in combination with androgen deprivation therapy (ADT) considerably reduced the risk of developing metastases or death by 71% compared to using ADT alone. Certain factors like recurrent prostate cancer is the major restraint in the market growth of prostate cancer drugs. The recurrence of cancer cells after initial treatment and its spreading over other tissues next to prostate is referred as recurrent prostate cancer.
Market Segmentation:
Global Prostate Cancer Drugs Market – By Cancer Type
Hormone Sensitive Prostate Cancer
Hormone Refractory Prostate Cancer
Global Prostate Cancer Drugs Market – By Therapy Type
Hormonal Therapy
Chemotherapy
Immunotherapy
Radiation Therapy
Targeted Therapy
Surgery
Global Prostate Cancer Drugs Market – By Distribution Channel
Online Pharmacies
Hospital Pharmacies
Retail Pharmacies
Global Prostate Cancer Drugs Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
North America is expected to dominate the prostate cancer drugs market globally in terms of market share during the forecast period followed by Europe. The rising prevalence of the disease in the U.S; the growing geriatric population; availability of world class health facilities; a huge pool of drug manufacturers; and a growing African-American population in the U.S who are very much prone to prostate cancer are the major reasons attributing towards the prostate cancer drugs market growth in the region. For instance, the American Cancer Society states that in the U.S that around 6 prostate cancer cases in 10 are diagnosed in men aged above 65 years. The Asia Pacific region is anticipated to be the fastest growing market for prostate cancer drugs during the forecast period. Growing awareness regarding the disease; government support in R&D of immunotherapy; and investments from key players in APAC are the major factors responsible for the market growth of prostate cancer drugs in the region.
Competitive Scenario:
The key players operating in the global prostate cancer drugs market are –
Johnson & Johnson, Merck & Co., GlaxoSmithKline, Novartis, Sanofi, Bayer Healthcare, Amgen, Astra Zeneca PLC., Ipsen Pharma, Astellas Pharma Inc.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Prostate Cancer Drugs industry, although key threats, opportunities and disruptive technologies that could shape the Global Prostate Cancer Drugs Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Prostate Cancer Drugs Market most.
The data analysis present in the Global Prostate Cancer Drugs Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Prostate Cancer Drugs Market business.
The 2021 Annual Global Prostate Cancer Drugs Market offers:
100+ charts exploring and analysing the Global Prostate Cancer Drugs Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Prostate Cancer Drugs Market type
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