Prostate Cancer Global Market to Witness Upsurge in Growth at a CAGR of ~5% by 2028 | DelveInsight

The prostate cancer market is anticipated to propel owing to the increasing incidence of prostate cancer around the world, the rising number of risk factors for prostate cancer, growing technological advancements in prostate cancer diagnostics, government, and non-government awareness initiatives, and increasing product development activities, among other factors.

LAS VEGAS, July 5, 2023 /PRNewswire/ -- DelveInsight's Prostate Cancer Market Insights report provides the current and forecast market analysis, individual leading Prostate Cancer companies' market shares, challenges, Prostate Cancer market drivers, barriers, trends, and key market Prostate Cancer companies in the market.

Key Takeaways from the Prostate Cancer Market Report

• As per DelveInsight estimates, North America is anticipated to dominate the global Prostate Cancer market during the forecast period. 
• Notable Prostate Cancer companies such as Proteomedix, A3P Biomedical, GE HealthCare, Soteria Medical BV, Bio-Techne, F. Hoffmann-La Roche Ltd., Indica Labs Inc., OPKO HEALTH, INC., miR Scientific, LLC, MINOMIC®, Novartis AG, Johnson and Johnson Services, Inc., Astellas Pharma Inc., Cipla, AstraZeneca, Bayer AG, Zydus Cadila, Pfizer Inc., Avenda Health, The Sanpower Group, and several others, are currently operating in the Prostate Cancer market.
• In February 2023, Orion Corporation received Japan's Ministry of Health, Labor and Welfare (MHLW) approval for the oral androgen receptor inhibitor (ARi) darolutamide plus ADT in combination with docetaxel in the indication of metastatic prostate cancer.
• In November 2022, a Leuprolide acetate injection by Amneal Pharmaceuticals was approved by the US Food and Drug Administration for patients with advanced prostate cancer.
• In March 2022, Novartis announced that the US Food and Drug Administration (FDA) approved PluvictoTM for the treatment of adult patients with a certain type of advanced cancer called prostate-specific membrane antigen–positive metastatic castration-resistant prostate cancer (PSMA-positive mCRPC) that has spread to other parts of the body.
• In December 2021, OPKO Health, Inc., received the US FDA approval for 4Kscore Test.

To read more about the latest highlights related to the Prostate Cancer market, get a snapshot of the key highlights entailed in the Global Prostate Cancer Market Report

Prostate Cancer Overview

Prostate cancer is a cancer that develops in the prostate gland. In the United States, it is the second greatest cause of cancer death in men. Prostate cancer affects one out of every nine men at some point in their lives. This year, over 250,000 men will be diagnosed with prostate cancer. Prostate cancer cells might spread when they break free from a prostate tumor. They can spread to other parts of the body by traveling through blood vessels or lymph nodes. Cancer cells that have traveled to other tissues may adhere to them and develop to form new tumors, causing damage wherever they fall.

The symptoms of prostate cancer differ from person to person. Some males experience no symptoms at all. Blood in the urine or sperm, painful ejaculation, discomfort or burning during urination, and other symptoms are common with prostate cancer. Although a biopsy is a primary technique for diagnosing prostate cancer, a clinician might utilize other instruments to confirm that the biopsy is performed in the correct region. To guide the biopsy, doctors may employ transrectal ultrasound or magnetic resonance imaging (MRI). Prostate cancer treatments include radiation, surgery, chemotherapy, biological therapy, and hormone therapy. Prostatic adenocarcinoma, benign prostatic hyperplasia, small cell carcinoma, and other types of prostate cancer are treated and managed using a variety of diagnostic and therapeutic devices. 

Prostate Cancer Market Insights

North America is expected to account for the highest proportion of the prostate cancer market in 2023, out of all regions. The prostate cancer market is expected to grow significantly in the region due to the importance of key growth factors such as an increasing patient population suffering from prostate cancer, sophisticated healthcare infrastructure, government programs, the presence of key players, and rapid regulatory approval for new products, among others.

The work of government and non-governmental organizations in raising disease awareness in the region would have a favorable impact on the prostate cancer market. ZERO Prostate Cancer is the main national nonprofit organization located in the United States with the purpose of eradicating prostate cancer and assisting those who have been affected. It helps prostate cancer patients by teaching them about the condition and offering them with diagnostic and therapy options. It also helps patients who cannot afford prostate cancer therapy.

Moreover, the region's increasing number of product development activities will boost the expansion of the prostate cancer market. For example, Amneal Pharmaceuticals' Leuprolide acetate injectable was approved by the US Food and Drug Administration in November 2022 for patients with advanced prostate cancer.

To know more about why North America is leading the market growth in the Prostate Cancer market, get a snapshot of the Prostate Cancer Market Outlook 

Prostate Cancer Market Dynamics

Prostate cancer is the second most prevalent cancer in males and the fourth most frequent cancer in the world. The growing number of prostate cancer research and development activities is projected to drive the prostate cancer market. For instance, Pfizer Inc. and Astellas Pharma Inc. announced excellent topline data from the Phase III EMBARK study testing XTANDI® (enzalutamide) in men with non-metastatic hormone-sensitive prostate cancer with high-risk biochemical recurrence (BCR) in March 2023.

However, risks associated with prostate cancer diagnostics and therapies and the stigma associated with prostate cancer may limit the total growth of the prostate cancer market.

Additionally, during the COVID-19 pandemic, lockdown impositions were imposed to prevent the spread of COVID-19 infection, which resulted in the closure of oncology departments in hospitals, clinics, and other medical facilities, causing disruptions in prostate cancer diagnosis and treatment services. Manufacturing, processing, supply, distribution, import, export, and other related operations in the prostate cancer market were significantly affected, negatively influencing the prostate cancer market growth. Nonetheless, the prostate cancer market is in a recovery phase as a result of the introduction of COVID-19 vaccines and the resumption of activities across all sectors, including healthcare and pharmaceutical, providing ample opportunities for the prostate cancer market to grow at a significant revenue during the forecast period.

Get a sneak peek at the Prostate Cancer market dynamics @ Prostate Cancer Market Dynamics Analysis

Prostate Cancer Market Assessment

• Prostate Cancer Market Segmentation
• Prostate Cancer Market Segmentation By Product Type: Diagnosis (Blood Test, Imaging Test, Biopsy, and Others) and Treatment (Therapeutics {Chemotherapy, Hormonal Therapy, and Others}, Radiation Therapy, Surgery, and Others)
• Prostate Cancer Market Segmentation By End User: Hospitals, Speciality Clinics, Diagnostic Centers, and Others
• Prostate Cancer Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
• Porter's Five Forces Analysis, Product Profiles, Case Studies, KOL's Views, Analyst's View

Which MedTech key players in the Prostate Cancer market are set to emerge as the trendsetter explore @ Prostate Cancer Companies 

Table of Contents 

Interested in knowing the Prostate Cancer market by 2028? Click to get a snapshot of the Prostate Cancer Market Trends

Related Reports

Prostate Cancer Pipeline

Prostate Cancer Pipeline Insight – 2023 report provides comprehensive insights about the pipeline landscape, including clinical and non-clinical stage products and the key prostate cancer companies, including Merck & Co, Pfizer, Orion, Zenith Epigenetics, ESSA Pharma, RhoVac, AstraZeneca, Advaxis, Inc., Tracon Pharmaceuticals Inc., Bristol-Myers Squibb, Laekna Limited, Bracco Diagnostics, Inc, Arvinas Inc, Epizyme, Regeneron Pharmaceuticals, Veru Inc., Eli Lilly and Company, Exelixis, Luye Pharma Group, Amgen, among others.

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Metastatic Castration-Sensitive Prostate Cancer Pipeline

Metastatic Castration-Sensitive Prostate Cancer Pipeline Insight – 2023 report provides comprehensive insights about the pipeline landscape, including clinical and non-clinical stage products, and the key metastatic castration-sensitive prostate cancer companies, including Merck, Pfizer, Veru, Tracon, Sotio, among others.

Metastatic Hormone-Refractory Prostate Cancer Pipeline

Metastatic Hormone-Refractory Prostate Cancer Pipeline Insight – 2023 report provides comprehensive insights about the pipeline landscape, including clinical and non-clinical stage products, and the key metastatic hormone-refractory prostate cancer companies, including Merck, Pfizer, Veru, Tracon, Sotio, among others.

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DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports pharma companies by providing comprehensive end-to-end solutions to improve their performance. 

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SOURCE DelveInsight Business Research, LLP