A Broad Analysis of the “Worldwide Prostate Cancer market “methodology of the leading organizations in the exactness of import/export utilization, market activity figures, cost, value, revenue and gross edges.
Global Prostate Cancer Market – Synopsis
As per Market Research Future (MRFR)’s study, the global prostate cancer market is expected to exhibit a healthy growth rate during the forecast period. It has been deduced that an early detection of this type of cancer has high chances of cure, which has increased research & development of technologies for effective treatment.
The rising incidence of prostate cancer has intensified the need for novel drugs and treatments that offer precision and efficiency. According to the ‘Cancer Facts & Figures 2018’ report published by the American Cancer Society, the count for new patients diagnosed with prostate cancer in the U.S. alone would reach 164,690.
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An upsurge in investments for drug development is expected to be witnessed in the prostate cancer market. This, in turn, is prognosticated to influence the expansion of the prostate cancer market positively through the assessment period.
The market is likely to scale new heights in the forthcoming years and is expected to remain highly lucrative over 2027. The key players are poised to strategize mergers & acquisitions, collaborations, MoUs, etc. for capitalizing on the strong growth opportunities signified by the prostate cancer market.
Other factors responsible for the proliferation of the market include rising healthcare expenditure, developments in the global healthcare infrastructure, increasing awareness among people, etc.
Leading Industry Players
OncoGenex Pharmaceuticals Inc. (US)
Progenics Pharmaceuticals, Inc. (US)
TOLMAR Inc. (US)
Bayer Pharma AG (Berlin)
OncBioMune Pharmaceuticals Inc. (US)
Tokai Pharmaceuticals, Inc.
Endo Pharmaceuticals Inc.
Global Prostate Cancer Market – Segmentation
By product type, the Global Prostate Cancer Market has been segmented into hormone therapy, targeted therapies, therapeutic vaccines and others.
By end users, the prostate cancer market has been segmented into hospitals, clinics and others.
Detailed Regional Analysis
The prostate cancer market, by region, has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. Americas is leading the global market for prostate cancer. It is expected to expand significantly over the next couple of years.
According to a report published, over 80 men die every day from prostate cancer in the U.S. and is the second most leading cause of death among American men. The rising burden of the disease is likely to accelerate the revenue creation for the market participants.
Additionally, the technological advancements in medical science coupled with myriads of clinical trials for the development of effective treatments are expected to drive the expansion of the prostate cancer market in Americas.
Europe is forecasted to emerge as the second-largest prostate cancer market by the end of the assessment period. A combination of micro and macroeconomic factors such as availability of funds, growing research & development projects, government support, technological advancements in the healthcare infrastructure, etc. are poised to push the market on an upward trajectory.
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Asia Pacific exhibits promising potential of growth. The developments in the healthcare sector backed by government support are prognosticated to drive the growth of the prostate cancer market in the region.
In addition, the region is likely to attract investments from international key players owing to growing patient pool, rising disposable income, etc. This, in turn, is anticipated to augment the prostate cancer market in Asia Pacific.
In December 2018, ValiRx plc, a U.K.-based biotechnology company, announced that the result of clinical data for the treatment, VAL201, shows positive result for prostate cancer treatment.
In December 2018, a team of engineers and medicl researchers have developed a software to be deployed via a system called SmartTarget® pinpoints biopsies that facilitate early detection of prostate cancer.
In December 2018, the Prostate Health Education Network (PHEN), has teamed up with AARP Georgia for bringing Broadway-style stage play ‘Daddy’s Boys’ about prostate cancer in Atlanta for raising awareness.
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