Prostate Cancer Therapeutics Market is expected to reach USD 12.0 billion by 2025
LONDON, June 20, 2017 /PRNewswire/ -- Highlights
· The global prostate cancer therapeutics market is expected to reach USD 12.0 billion by 2025, according to a new report by Grand View Research, Inc.
· According to the American Cancer Society, approximately 1 in 7 men will be diagnosed with prostate cancer in their lifetime.
· As per Cancer Research, a government institute, in the UK, 46,690 new cases of prostate cancer were diagnosed out of which 11,287 patients died in 2014.
· Supportive initiatives undertaken by key players in collaboration with various governments to create more awareness of clinical symptoms about prostate cancer and availability of screening & diagnostic tests such as Prostate-Specific Antigen (PSA) and Digital Rectal Exam (DRE) resulting in early detection.
· Early detection helps in quick and on time treatment and assists in deciding treatment regimens.
· As a result, generic products are anticipated to penetrate the market. All these factors together are expected to propel growth.
The global prostate cancer therapeutics market is expected to reach USD 12.0 billion by 2025, according to a new report by Grand View Research, Inc. According to the American Cancer Society, approximately 1 in 7 men will be diagnosed with prostate cancer in their lifetime. As per Cancer Research, a government institute, in the UK, 46,690 new cases of prostate cancer were diagnosed out of which 11,287 patients died in 2014.
Supportive initiatives undertaken by key players in collaboration with various governments to create more awareness of clinical symptoms about prostate cancer and availability of screening & diagnostic tests such as Prostate-Specific Antigen (PSA) and Digital Rectal Exam (DRE) resulting in early detection. Early detection helps in quick and on time treatment and assists in deciding treatment regimens. In addition, major players including Astella, Inc., Sanofi, Dendreon Corporation, AstraZeneca, and Johnson & Johnson are focusing on development of effective and safe therapeutic products to treat tumor. Moreover, these players have various established brands such as Zytiga, Xtandi, Eligard, Taxotere, Provenge, and Xofigo, which hold a strong position in the market. In addition, there are many drugs in pipeline such as Tc-99m (Progenics), radium-223 dichloride (Xofigo, Bayer), and ODM-201 (Orion and Bayer), which are in their phase 3 studies and are expected to enter the market during the forecast period. In addition, patents of many existing products are expiring during the forecast period.
As a result, generic products are anticipated to penetrate the market. All these factors together are expected to propel growth.
In Canada, Prostate Cancer Foundation of Canada supports research, cure, and prevention of prostate cancer through an online portal. This portal provides detailed information regarding symptoms, diagnosis, and commercially available treatment options. Such portals offer free access to people all around the world, which is resulting in growth.
Further key findings from the study suggest:
• The growing incidence of prostate cancer across the globe is expected to drive growth
• The market is segmented into hormonal therapy including Luteinizing Hormone Releasing Hormone (LHRH) agonist, LHRH antagonist & antiandrogen; chemotherapy; immunotherapy, and targeted therapy
• Zytiga (Johnson & Johnson) is considered as a gold standard product for the treatment of prostate cancer and holds a strong position. However, Xtandi (Astella, Inc.) and Zytiga are competing with each other. The degree of competition is projected to elevate during the forecast period. Thus, hormonal therapy holds the largest share.
• Provenge (Dendreon Corporation) is the only immunotherapy drug mainly used in the treatment of advanced or metastasis of such cancerous cells
• In addition, there are many promising immunotherapy drugs in the pipeline such as INO-5150 SynCon and PROSTVAC (Bavarian Nordic), which are expected to enter the market in the near future. Thus, this drug class is projected to be the fastest growing segment.
• North America dominated the global market. Rising prevalence and mortality rate associated with such tumors in the U.S. is the primary reason for the dominance of the region.
• Asia Pacific is anticipated to be the fastest growing region over the forecast period. Rising awareness regarding prostate cancer in Asian countries including China, Japan, & India, would be the major factor driving the growth.
• Some of the major players include, but are not limited to, Johnson & Johnson; Astella, Inc.; Sanofi; Ipsen; Bayer AG; AstraZeneca; Valeant Pharmaceuticals North America LLC (Dendreon Corporation). These major players dominate the market owing to their strong brand identity and extensive geographic reach.
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