Prostate Cancer Treatment Market Size was valued at USD 7.5 Billion in 2022. The Prostate Cancer Treatment market industry is projected to grow from USD 7.9 Billion in 2023 to USD 11.84 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.20% during the forecast period (2023 - 2032). Growing aging population, increasing prostate cancer incidence, and improvements in diagnostic technologies are the key market drivers boosting the expansion of the market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Increase in prostate cancer instances is driving the market growth
Market CAGR for Prostate Cancer Treatment is being driven by the increase in prostate cancer instances. One type of cancer in which the prostate glands aberrant cells multiply and spread out of control is called prostate cancer. Prostate cancer ranks as the eleventh leading cause of mortality overall and the sixth leading cause of death in men. Prostate cancer can be treated with surgery, hormone therapy, radiation, chemotherapy, and biological therapy. A range of diagnostic and therapeutic tools, such as prostatic adenocarcinoma, small cell carcinoma, which is benign prostatic hyperplasia, and others, are used in the treatment and management of prostate cancer.
Additionally, the primary factor propelling the market's growth is the increase in the number of incidences of cardiovascular diseases and prostate cancer. The market for prostate cancer treatments is also growing at a rapid pace due to factors such as rising healthcare costs. The market for prostate cancer treatments will also develop as a result of greater government financing and increased efforts by both public and private organizations to raise awareness of the disease. The prostate cancer treatments market will increase at a favorable rate due to a number of other factors, including changing lifestyles and technological advancements in screening and diagnostic tests. Prostate cancer treatment market growth will also be moderated by advances in proteomics and genomics as well as the aging population.
Two key drivers that will accelerate the growth rate of the prostate cancer therapies market are the emergence of potent pipeline medications and the availability of novel treatments for the disease. Prostate cancer therapies market expansion will be hindered by factors such as high treatment costs and low clinical trial success rates for oncology medications. The growth of the prostate cancer therapies market would also be hampered by the negative side effects associated with these treatments. The market will face additional challenges throughout the previously indicated projection period due to decreased awareness and longer treatment durations.
For instance, according to the National Library of Medicine, in 2022 there would be 2, 68 490 new cases and 34,500 deaths from cancer (3.8% of all cancer fatalities in men). Prostate cancer is more common and deadly worldwide as people age, with 66 being the average age of diagnosis. With 158.3 new cases diagnosed per 100,000 men, African American men clearly have a greater incidence rate than White men. Thus, result in driving the Prostate Cancer Treatment market revenue.
The Prostate Cancer Treatment market segmentation, based on drug type includes Hormonal Therapy, Chemotherapy, Immunotherapy, Targeted Therapy, and Others. The Hormonal Therapy segment dominated the market. Medications functioning primarily as anti-androgens and luteinizing hormone-releasing hormone (LHRH) antagonists are included in the hormonal therapy protocols. Xtandi is one of the most widely used medications, and not just because more people are getting treatment for prostate cancer, but also because more people are taking it for longer periods of time—the average duration is currently nine months.
The Prostate Cancer Treatment market segmentation, based on distribution channel, includes Hospital Pharmacies, Drug Stores & Retail Pharmacies, and Online Pharmacies. The Hospital Pharmacies category generated the most income. Hospital pharmacies and chemists play a significant role in the market because they oversee pharmaceuticals in a setting that is vital to healthcare and demands prompt access to medications and supplies. These pharmacies also offer both out-patient and in-patient services, which makes it easier for patients to treat a range of ailments.
Figure1: Prostate Cancer Treatment Market, by Distribution channel,2022 & 2032(USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Prostate Cancer Treatment market area will dominate this market, because there is a significant need for prostate cancer treatment items in the area and since the disease is becoming more common. However, growth in North America is responsible for the introduction of promising new medications in the biologics and hormone therapy sectors.
Further, the major countries studied in the market report are The US, German, France, the UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil.
Figure2: Prostate Cancer Treatment Market Share By Region 2022 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Europe Prostate Cancer Treatment market has the second-largest portion of the market, because of advancements in the pharmaceutical industries' infrastructure and the growth in the market for medications that treat prostate cancer. Further, the German Prostate Cancer Treatment market had the biggest market share, and the UK Prostate Cancer Treatment market was the fastest growing market in the European region
The Asia-Pacific Prostate Cancer Treatment Market is anticipated to expand between 2023 and 2032 at the quickest CAGR. This is due to the availability of more affordable care, customized medications, improved technology, and an increase in the number of prostate cancer cases. Moreover, China’s Prostate Cancer Treatment market had the biggest market share, and the Indian Prostate Cancer Treatment market was the fastest growing market in the Asia-Pacific region.
Prostate Cancer Treatment Key Market Players& Competitive Insights
Leading market players are putting a lot of money on R&D to expand their product lines, which will help the market for weight reduction products grow. Additionally, market players are engaging in a range of calculated initiatives to increase their worldwide presence, with important market developments involving the introduction of new products, contracts, M&A transactions, increased investment, and cooperation with other enterprises. to grow and endure in an increasingly cutthroat and dynamic market, Prostate Cancer Treatment industry must provide reasonably priced goods.
Manufacturing locally is one of the primary business techniques used by manufacturers to cut operational costs in the Prostate Cancer Treatment industry to help customers and expand the market segment. In recent years, the Prostate Cancer Treatment industry has provided some of the biggest benefits to medicine. Major players in the Prostate Cancer Treatment market, including Johnson & Johnson; Services Inc.; Astellas Pharma Inc.; Eli Lilly and Company; Sanofi; Ipsen Pharma; Bayer AG; AstraZeneca; Valeant Pharmaceuticals International, Inc.; and others, are attempting to increase market demand by investing in research and development operations.
Johnson & Johnson (J&J) is a worldwide firm specializing in pharmaceutical and medical technologies, with its headquarters located in New Brunswick, New Jersey. It is listed on the New York Stock Exchange and is openly traded. The company is No. 40 on the 2023 Fortune 500 list of the biggest American corporations, and its common stock is a part of the Dow Jones Industrial Average. About 130,000 people work for Johnson & Johnson worldwide, and Joaquin Duato serves as the company's current chairman and CEO. In January 2024, Johnson & Johnson declared that it would pay $2 billion to acquire Ambrx Biopharma.
The American pharmaceutical corporation Eli Lilly and Company has locations in 18 countries and its main headquarters is located in Indianapolis, Indiana. About 125 countries are home to its merchandise sales. Former American Civil War soldier and pharmaceutical chemist Colonel Eli Lilly created the business in 1876, and the corporation bears his name. Lilly and James W. Binford joined together to open a pharmacy in Paris, Illinois, following Lilly's employment in Indiana pharmacies. In January 2020, The business declared that it has paid $1.1 billion to acquire Dermira, obtaining ownership over two significant assets, including glycopyrronium cloth used to treat hyperhidrosis and lebrikizumab.
Key Companies in the Prostate Cancer Treatment market include
Prostate Cancer Treatment Industry Developments
In August 2022, In August 2022, it was Royal Surrey that first implemented Lutetium 177 treatment for prostate cancer patients under the aegis of the Early Access Medicine Scheme (EAMS). This action was undertaken subsequent to the grant of marketing authorization for the product by The Medicines and Healthcare Products Regulatory Agency (MHRA). However, it must be pointed out that support for the use of nuclear medicine is the use of hospitals, as it requires extra help. it was Royal Surrey that first implemented Lutetium 177 treatment for prostate cancer patients under the aegis of the Early Access Medicine Scheme (EAMS). This action was undertaken subsequent to the grant of marketing authorization for the product by The Medicines and Healthcare Products Regulatory Agency (MHRA). However, it must be pointed out that support for the use of nuclear medicine is the use of hospitals, as it requires extra help.
March 2022: BioPharma announced the introduction of camcevi (leuprolide), a 42mg injection emulsion, for the treatment of adults with advanced prostate cancer. For Camcevi inventory management, the business additionally provides access to the AccordConnects mobile application.
March 2022: Keytruda and lynparza together are being tested in a trial called keylynk-010 by Merck for patients with metastatic castration-resistant prostate cancer.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 7.5 Billion |
| Market Size 2023 | USD 7.9 Billion |
| Market Size 2032 | USD 11.84 Billion |
| Compound Annual Growth Rate (CAGR) | 5.20% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Drug Class, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The US, German, France, UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil |
| Key Companies Profiled | Johnson & Johnson; Services Inc.; Astellas Pharma Inc.; Eli Lilly and Company; Sanofi; Ipsen Pharma; Bayer AG; AstraZeneca; Valeant Pharmaceuticals International, Inc.; Merck & Co., Inc.; Pfizer Inc |
| Key Market Opportunities | Prostate cancer cases are becoming more common, which is increasing demand for prostate therapy. |
| Key Market Dynamics | The primary factor contributing to the market's increase is the rise in the incidence of cardiovascular diseases and prostate cancer. |
Frequently Asked Questions (FAQ) :
In 2022, the size of the market for prostate cancer treatments was estimated to be USD 7.5 billion.
From 2023 to 2032, the market is expected to expand at a compound annual growth rate (CAGR) of 5.20%.
North America held the most market share worldwide.
Johnson & Johnson, Services Inc., Astellas Pharma Inc., Eli Lilly and Company, Sanofi, and Ipsen Pharma are the major players in the industry.
In 2022, the market was dominated by the Hormonal Therapy sector.
The Hospital Pharmacies Company held the biggest market share worldwide.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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