Prostate cancer is one of the most common types of cancer in men which is caused by the abnormal growth of tissues in the prostate gland that produces seminal fluid. According to the report published by Market Research Future (MRFR), the global prostate cancer market is anticipated to grow at a steady rate in the coming years.
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The prominent players profiled by MRFR in the report on the global prostate cancer market are
- OncoGenex Pharmaceuticals
- Bayer Pharma AG
- Progenics Pharmaceuticals
- OncBioMune Pharmaceuticals
- Endo Pharmaceuticals
- Tokai Pharmaceuticals
Market Drivers and Restraints:
The mounting prevalence of prostate cancer, rapidly increasing geriatric population and high demand for effective treatments are majorly propelling the growth of the global prostate cancer market. The rapid rise in male population in various regions of the world has increased the probability of individuals suffering from prostate cancer, which in turn is fueling the growth of the global prostate cancer market.
Advancing research and development activities in the field of cancer treatment, proliferation in government campaigns in order to generate awareness among the population of developing and underdeveloped regions and improving healthcare access across the global are offering attractive opportunities for the expansion of the global prostate cancer market.
Increasing need for medical treatment to treat prostate cancer is anticipated to provide lucrative opportunities for the growth of the global prostate cancer market. However, high cost of treatment, lack of awareness and low availability of health care facilities in the underdeveloped regions are hampering the growth of the global prostate cancer market during the forecast period.
The global prostate cancer market has been segmented on the basis of treatment and end-users. Based on treatment, the prostate cancer market is segmented into chemotherapy, surgery and radiation therapy, targeted therapy, biologic therapy, hormone therapy, vaccines and others. The chemotherapy segment is sub-segmented into antimetabolites, anthracyclines, taxanes and alkylating agents. The targeted therapy segment is sub-segmented into tyrosine kinase inhibitors and monoclonal antibodies. The hormone therapy segment includes estrogen-receptor modulators (SERMS), aromatase inhibitors and others. Based on end-users, the prostate cancer market is segmented into hospitals, clinics, pharmacies and others.
Geographically, the global prostate cancer market is segmented into five major regions such as North America, South America, Europe, Asia Pacific and the Middle East and Africa. The prostate cancer market in the North America region is anticipated to grow significantly in the coming years and create its dominance over the global prostate cancer market owing to the presence of large pool of players of the prostate cancer market and rapid introduction of innovative drugs and medications to treat prostate cancer in this region. The Europe region is following North America with respect to the market size. The high prevalence of prostate cancer and increasing research and development for introduction of effective treatments are fueling the growth of prostate cancer market in this region.
In September 2018, Toronto-based Exact Imaging has teamed up with Cambridge Consultants. a UK technology firm to introduce a new advanced ultrasound imaging technique combined with artificial intelligence for improving the detection of prostate cancer.
On 25th September 2018, South Georgia Medical Center (SGMC) will be hosting a free prostate cancer screening. This will help in diagnosing individuals with prostate cancer before they have noticeable symptoms.
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