Prostate Cancer Market study with Detailed Review, Portraying about the Product/Industry Scope and Expounds Industry Outlook and status to 2027.
Global Prostate cancer Market – Overview
The global prostate cancer market is showing the steady growth; mainly owing to increase in patient population. According to report published by Centers for Disease Control and Prevention, in 2014, there were around 172,258 men in the United States, who diagnosed with prostate cancer and around 28,343 men died from prostate cancer. These rising number of prostate cancer create an opportunity for the player to introduce innovative treatment option.
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Companies are continuously invent new treatment to capture the global market. Thus players invest more in research and development activities. In this regards, Bayer Pharma AG announced that they have many drugs for the treatment of prostate cancer in there pipeline such as Radium-223 dichloride and BAY 1841788 (ODM-201, AR antagonist).
Progenics Pharmaceuticals, Inc., 2015, acquired Exini Diagnostics AB in order to support its imaging and therapeutic agents with sophisticated analytical tools and other technologies to help patients and physicians understand, target and treat prostate cancer. These companies are more investing in research and development program to provide the best treatment option, which help them to keep ahead with their competitor.
These acquisitions help companies to provide better treatment opportunity in the market and hence improve the quality of life for the people around the world. Additionally it help market players in translating breakthrough science into innovative treatment to help people with prostate cancer worldwide.
Competitive Analysis
Some of the noteworthy players in the global prostate cancer market include Progenics Pharmaceuticals, Inc. (US), Endo Pharmaceuticals Inc. (Ireland), Bayer Pharma AG (Berlin), OncoGenex Pharmaceuticals Inc. (US), OncBioMune Pharmaceuticals Inc. (US), TOLMAR Inc. (US), and others.
January 30th, 2019, Researchers at the Medical University of South Carolina revealed the successful completion of the world’s first-ever prostate cancer surgery by using Blu Build Cesium-131 brachytherapy delivery system.
February 15th, 2019, Bayer partnering with Orion revealed the numbers showcasing the efficacy of their drug, darolutamide. The report revealed that the drug helped curb down the risk of metastasis or even death by a striking 59% in patients with non-metastatic castration-resistant prostate cancer.
Prostate Cancer Market - Segmentation
The global prostate cancer market segmentation is done on the basis of end-users and product type.
By product type, the market includes hormone therapy, targeted therapies, therapeutic vaccines, and others.
By end-users, the market segments into clinics, hospitals, and others.
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Regional Analysis
The regional segmentation of the global prostate cancer market is spearheaded by North America and includes other notable regions like Europe, Asia-Pacific, and Middle East & Africa.
North Americas’ dominant standing in the market is expected to grow further during the forecast period. This can be credited primarily due to the high obesity population. This has prompted the government to be more focused on research and development activities, thereby bringing forward the best treatment facilities for the affected population.
Europe is another huge market for prostate cancer because of the huge existing population affected by this condition. Well-developed treatment facilities, the presence of major market players, and the government’s repeated effort in spreading awareness and educating the population about prostate cancer are all important drivers of the market.
Asia-Pacific is another region expected to grow during the review period due to the presence of a huge population being affected with the condition. Highly populated countries in this region, India and China, have a huge obesity population, which can potentially lead to incidences of prostate cancer.
Plus, these countries are willing to adopt new technologies and treatment options from developed countries. This is pushing the market growth herein. The Middle East and Africa region boast the least growth potential among all the mentioned regions.
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