NEW YORK, November 12, 2015 /PRNewswire/ --
Zytiga and Xtandi's continued uptake and the approval of several premium products will drive prostate cancer market growth by 2021, says GBI Research.
Analysis from business intelligence provider GBI Research - Prostate Cancer Market to 2021 - Increasing Disease Prevalence to be a Key Driver of Market Growth - says that the prostate cancer market will expand at a rapid Compound Annual Growth Rate (CAGR) of 9.5% from $7.6 billion in 2014 to $13.6 billion by 2021.
This increase will occur across the eight major markets of the US, Canada, France, Germany, Italy, Spain, the UK and Japan. For a complimentary sample of this research, please visit the GBI Research website.
Senior Analyst Katie Noon: "Zytiga and Xtandi are both blockbuster drugs, with global sales of $2.2 billion and $2.1 billion in 2014, respectively. While the strong sales growth of these products is beginning to plateau, it will continue to increase over the next few years.
"In line with this, the approvals of Zytiga and Xtandi in 2013 and 2014, respectively, for the first-line treatment of metastatic castration-resistant prostate cancer patients in Europe and the US, and of both drugs for the treatment of docetaxel-resistant patients in Japan, will contribute to the increase in sales of both products."
The analyst adds that the prostate cancer therapeutic market will also be boosted by the anticipated approval of nine late-stage pipeline products within the forecast period, including the cancer vaccines Prostvac, DCVAC and ProstAtak.
Noon continues: "Novel therapies are expected to be predominately approved in castration-resistant patients, and to compete with better-established treatments, such as Zytiga, Xtandi and generic docetaxel, or to act as adjuvants to established therapies.
"However, with the likely exception of Prostvac, many of the drugs indicated for use in non-metastatic patients, or in combination with already-costly therapies in metastatic castration-resistant patients, may find that their cost hinders market uptake."
GBI Research's report also states that although the therapeutic pipeline for prostate cancer is relatively large with 448 products in active development, the indication suffers from a high failure rate.
"While there is a demonstrably high level of risk associated with the development of pharmaceutical products for prostate cancer, the market remains favorable, as this risk is offset by high potential revenue," concludes Noon.
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SOURCE GBI Research