A new Report by Delvens, titled "Prostate Cancer Therapeutics Market” offers a comprehensive analysis of the industry, which comprises insights on the Global analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The Prostate Cancer Therapeutics Market size was estimated at USD 11.7 billion in 2022 and is projected to reach USD 20.3 billion in 2027 at a CAGR of 8.10% during the forecast period 2023-2030.
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Prostate cancer is a type of cancer that occurs in the prostate gland, which is a small gland located in the male reproductive system. In prostate cancer, abnormal cells in the prostate gland start to grow and divide uncontrollably, leading to the formation of a tumor. Prostate cancer is a significant health concern, as it is the sixth leading cause of death in males and the eleventh leading cause of death from any disease.
One of the major challenges is the high cost associated with the treatment of prostate cancer. This can make it difficult for patients to afford the necessary treatment, which can impede the growth rate of the market. Another challenge is the less success rate in clinical trials for oncology drugs.
Key Findings:
On the basis of Drug Class, The drugs in this class majorly act as luteinizing hormone-releasing hormone (LHRH) antagonists, luteinizing hormone-releasing hormone (LHRH) agonists, and anti-androgen. LHRH antagonists work by blocking the production of testosterone, which is a hormone that fuels the growth of prostate cancer cells.
On the basis of Distribution channel, Hospital pharmacies and pharmacists play a crucial role in the healthcare industry as they manage pharmaceuticals in a critical hospital setting that requires quick access to drugs and supplies.
On the basis of Modality, They employ various strategies to minimize the risk of errors, such as implementing computerized physician order entry systems, using barcode scanning technology, and providing medication reconciliation services.
North America to Dominate the Market
- North America is a region that is expected to have a major share in the Prostate Cancer Diagnostics and Therapy Market.
- Prostate cancer is one of the most common types of cancer in men in North America, and the incidence of this disease is increasing every year.
Competitive Landscape
- Bayer AG
- AstraZeneca PLC
- Sanofi-Aventis
- Thermo Fisher Scientific
- Hoffmann-La Roche Ltd.
- Johnson Johnson Services, Inc.
- Astellas Pharma Inc.
- Eli Lilly and Company
- Sanofi
- Ipsen Pharma
- AstraZeneca
- Valeant Pharmaceuticals International, Inc.
- Merck Co., Inc.
- Pfizer Inc. and More
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Recent Developments
In January 2021, U.S. Food and Drug Administration (FDA) have approved a new drug named Relugolix which is expected to modify the treatment for advanced prostate cancer.
In June 2021, Novartis AG has announced that the U.S. Food and Drug Administration (FDA) have granted Breakthrough Therapy designation (BTD) to 177Lu-PSMA-617 in patients with metastatic castration-resistant prostate cancer (mCRPC).
The Prostate Cancer Therapeutics Market is segmented into various segments such as drug type, distribution channel, modality and region:
Based on drug class
- Hormonal therapy
- Chemotherapy
Based on the Distribution channel
- Hospital pharmacy
- Drug stores retail pharmacy
- Online pharmacy
Based on the Modality
- Diagnosis
- Treatment
The Report helps to identify the opportunities in Global Regions:
- North America (the United States, Canada, and Mexico)
- Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
- South America (Brazil etc.)
- The Middle East and Africa (North Africa and GCC Countries)
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Key Features of Global Market Report:
- Analyze competitive developments like expansions, deployments, new product launches, and acquisitions.
- Identify growth opportunities for stakeholders by pinpointing high-growth segments.
- Study global industries status and forecast, focusing on key regions.
- Conduct an in-depth analysis of product segments and applications, offering strategic recommendations for competitive advantage.
- Provide a comprehensive analysis of key regions, including SWOT and Porter's Five Forces analyses.
- Assist in making strategic business decisions and investment plans.
Frequently Asked Questions
- What are the years considered to study Prostate Cancer Therapeutics Market intelligence report?
- What is the compound annual growth rate (CAGR) of the Prostate Cancer Therapeutics Market?
- Which region holds the largest market share in Prostate Cancer Therapeutics Market?
- Which region is the fastest growing in Prostate Cancer Therapeutics Market?
- Who are the major players in Prostate Cancer Therapeutics Market?
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