Global Prostate Cancer Market – Synopsis
The Global Prostate Cancer Market is well-established & growing pervasively with the rapid pace. Factors such as race, age, & genetics are some of the serious risk factors while changing lifestyle, inclination towards the sedentary lifestyle & growing obesity disorder among people, are also responsible, leading to the occurrence of this type of Cancer.
Growing prevalence of Prostate Cancer worldwide is driving the market growth, escalating the market to the global platform. Introduction of the novel medicines & therapies, giving the best outcomes is providing impetus to the market growth. This, in turn, is supporting the market growth of the Prostate Cancer.
Acknowledging the traction, this market is vibrating with currently; Market Research Future (MRFR) has recently published a study report giving out the complete market prognosis up till 2027. According to MRFR, the Global Prostate Cancer market will grow exponentially by 2027, posting a striking CAGR during 2017 – 2027.
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On the other hand, factors such as low awareness among people about benefits of Prostate Cancer treatment, the high manufacturing cost of the devices & medicines for disease management along with the skepticism of physicians towards the advancement & efficacies of the treatments are likely to impede the growth of Global Prostate Cancer market.
Similarly, the cost associated with the Prostate Cancer treatment which is slightly on the higher side, side effects of surgery like urinary incontinence & impotence and surgical risks like heart attack, stroke, and blood clots are some of the factors posing a challenge to the market growth. Also, Loss of patent protection for drugs is considered as one of the major factor inhibiting the market growth.
However, other factors such as technological advancements and advent techniques to fight Prostate Cancer and rise in the funding in both public and the private sector in the field of drug development are fostering the market growth of Prostate Cancer Market. Alos, the demand for sophisticated devices by the physicians and patients, in turn, is contributing to the market growth to a great extent.
Robotic Surgery or robot surgeon is the current trend that observed in the market as patients are more inclined towards robotic surgeries. Centers that could not afford expensive machines are shutting down rapidly. Almost 40% of global hospitals have adopted robots to perform prostate surgery.
Prostate Cancer Market – Competitive Landscape
The Global Prostate Cancer Market is a fragmented market with a large number of players. Product development strategy has been curtailed by the excellent efficiency and efficacy of drugs.
April 12, 2018 – Sidney Kimmel Cancer Center of Thomas Jefferson University Hospital (US) published the result of the ongoing phase IIIb PRONOUNCE trial they conducted to determine if the gonadotropin-releasing hormone (GnRH) receptor antagonist degarelix (Firmagon) is more likely to reduce cardiovascular events in patients with advanced prostate cancer and CVD versus the GnRH agonist receptor leuprolide (NCT02663908). And according to the cohort study, Degarelix plays a vital role in lowering Cardiovascular AEs in Prostate Cancer.
Global Prostate Cancer Market – Segments
For the convenience of the report and enhanced understanding, MRFR has segmented the market into 3 key dynamics;
By Product Types: Comprises Targeted Therapies, Hormone Therapy, and Therapeutic Vaccines among others.
By End Users: Clinics and Hospitals among others.
By Regions: North America, Europe, APAC and Rest of the World.
Global Prostate Cancer Market – Geographical Analysis
Geographically, North America accounts for the leading market for Prostate Cancer with the largest market share, followed by the markets of Europe & Asia Pacific, respectively. Continuing with the same growth trends, the North America market is likely to retain its dominance during the review period.
On the other hand, the growth of the world’s second-largest market for Prostate Cancer, Europe, is driven by the higher per capita income and strong healthcare penetration in the region. The strong market growth in the countries like Germany & France drives the regional market growth in the large scale.
While Asia Pacific market for the Prostate Cancer is expected to perceive an exponential growth. The market growth will be led by China and India owing to the huge population and the low-cost drugs for Prostate Cancer treatment.
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