Penile cancer is a disease in which cancerous cells forms into tissues of the penis, a male sex organ which helps body to pass sperms and excrete urine from body. Penile cancer is generally caused by body fluid that gets entangled into the skin. If these body fluids are not washed off on regular basis, it may produce cancer-causing effects. Acquired immune deficiency syndrome (AIDS) and human papilloma virus (HPV) are the most common viruses that cause penile cancer. Other causes include frequent tobacco use, poor hygiene, and other skin diseases. Smokers and older men are more prone to suffer from penile cancer. Signs and symptoms of penile cancer include bleeding, lumps, redness, sores among others. According to United Nations Programme on HIV/AIDS (UNAIDS), 15.5 Mn patients are on antiretroviral therapy (as of June 2015), 36.9 Mn people globally were living with HIV (as of December 2014), 2 Mn patients became newly infected with HIV (as of December 2014), and 1.2 Mn people died from AIDS-related illness (as of December 2014). This has encouraged pharmaceutical companies to invest in penile cancer treatment market and develop drugs for penile cancer.
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Penile Cancer Treatment Market: Drivers and Restraints
Increasing incidence of penile cancer is a major driver for the growth of global penile cancer treatment market. Advancement in technology coupled with personalized medicine, and cost effective treatment procedures for penile cancer will drive penile cancer market across the globe. However, lack of inadequate reimbursement policies, healthcare literacy, and commercially less availability of drugs for the treatment of penile cancer are the factors which will hamper the growth of global penile cancer treatment market over the forecasted period.
Penile Cancer Treatment Market: Segmentation
The global penile cancer treatment market is segmented based on type of disease, therapy and diagnostic test.
Based on type of disease, the global penile cancer treatment market is segmented into the following:
- Squamous cell cancer of penis
- Adenocarcinoma of penis
- Melanoma of the penis
- Basal cell cancer of penis
- Sarcoma of penis
Based on type of therapy, the global penile cancer market is segmented into the following:
- Radiation Therapy
- Biological Therapy
- Surgery (Cryosurgery, Laser Surgery)
Based on type of diagnostic test, the global penile cancer market is segmented into the following:
- Imaging tests
- Computed Tomography (CT)
- Position Emission Tomography (PET)
- Magnetic Resonance Imaging (MRI)
Penile Cancer Treatment Market: Market Overview
Research studies conducted by American Cancer Society has shown that patients suffering with squamous cell cancer of penis, the most common penile malignancy, acts similarly to squamous cell cancer of other parts of body. Surgery is the most preferred way of treatment for penile cancer. Radiation therapy can be prescribed instead of surgery if cancer has spread to the bones. Radiation therapy segment is expected to be the highest revenue generating in terms of therapy type segmentation. Chemotherapy is prescribed for some larger tumors or if the cancer has spread to other parts of body extensively. MRI is a best way to understand exact picture of penile cancerous cells. MRI followed by CT scan is generally performed at initial stage of diagnosis of penile cancer. PET is comparatively new technique which is performed for screening the biological activity of tumor. Biopsy should be performed in patients suffering with penile cancer with lesions.
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Penile Cancer Treatment Market: Region-wise Outlook
Geographically, global breast biopsy device market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan, Middle East and Africa (MEA). APEJ followed by MEA dominates global penile cancer treatment market owing to large pool of patient suffering with HIV, and increasing awareness about penile cancer. Thus, penile cancer treatment market in APEJ and MEA are expected to grow with significant CAGR over the forecasted period. However penile cancer incidences are rare in North America and Europe. According to American Cancer Society, penile cancer occurs in less than one man in 100, 000 and accounts for less than 1% of cancers in men in the U.S.
Penile Cancer Treatment Market: Key Players
Key companies operational in global penile cancer treatment market include Merck & Co., Inc., GlaxoSmithKline plc, Pfizer Inc., Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd, Novartis AG, and others.