The global Prostate Cancer market is expected to be worth roughly US$ 10.92 billion in 2023, growing at an 8.5% CAGR through 2033. By 2033, the market is estimated to be worth US$ 24.7 billion. Recent advancements in pharmaceutical development, an increasing number of FDA-approved treatments, and a robust growth rate in the market for hormone-refractory glandular cancer medicines are expected to drive market growth in the next years.
In addition to an older population, significant disposable income helps to market growth. Rising cancer prevalence rates, changing population fashion preferences, increased patient awareness, and a desire for non-invasive therapy will all drive expansion.
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Treatment options for this illness include targeted or biological therapy, chemotherapy, and hormone therapy. The FDA has approved new research for cures and drugs that will be available soon. According to a recent study conducted by Moon Hyung Choi and colleagues, employing pre-biopsy MRIs can effectively prevent unnecessary biopsies in people with PSA levels greater than 20 ng/ml.
Key Takeaways from the Market Study
- According to the most recent forecasts, the global Prostate Cancer market would grow 8.5% to US$ 24.7 billion by 2033.
- By 2023, online pharmacies are expected to control 28% of the Prostate Cancer market, a significant increase.
- By 2023, the North American region will account for 45% of global Prostate Cancer income.
- According to projections, Europe would control 32% of the market by 2023.
- Chemotherapy has the biggest market share of all medical therapies (more than 12%).
“New drug development and therapies are being studied in greater numbers. At-home chemotherapy and oral chemotherapy are in high demand. A reimbursement scheme that covers affordable generics will reduce coverage for expensive therapies, says an analyst at FMI.
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Competitive Landscape
The availability of oral chemotherapy is one of the primary factors driving rising demand. Instead of incurring large medical costs, preventative measures should be implemented. Companies with a broad geographic reach are adopting collaborative sales strategies, such as integrating several businesses into one to generate more diverse medical items, in order to expand to more complex applications.
Competitors are increasing their market presence through astute and profitable agreements. Acquisitions and collaborations allow companies to make greater use of cutting-edge technologies. Home health clinic businesses engage in a range of transactions in order to expand their technological horizons.
- Telix Pharmaceuticals Limited is pleased to announce that the results of its pivotal Phase III ZIRCON project for TLX250-CDx have been selected for oral presentation at the ASCO GU Symposium, which will be held in San Francisco, CA from February 16-18, 2023. Telix will offer six further presentations on its theranostic prospects targeting carbonic anhydrase IX (CAIX) and prostate-specific membrane antigens (PSMA) as part of the programme. This talk will include improvements in Prostate Cancer PET imaging using PSMA-11, prospective applications of TLX250-CDx outside of ccRCC, and the STARLITE Phase II studies, which are determining whether TLX250 targeted radiation paired with immunotherapy is effective in treating ccRCC.
- An innovative medical technology company whose mission is to improve cancer surgery outcomes and support clinicians during intraoperative decisions, Samantree Medical announced the publication of a study on Prostate Cancer. Increasing the clinical use of the Histolog Scanner, the company’s proprietary imaging platform. Under the supervision of Professor Diederik Somford and Dr. Willem Vreuls, the Enclosure Study was conducted at Canisius Wilhelmina Hospital (Netherlands). As an alternative to NeuroSAFE, the Histolog Scanner was evaluated.
More Valuable Insights Available
The Prostate Cancer Therapeutics Market is a rapidly growing segment of the oncology market that focuses on the prevention, diagnosis, and treatment of Prostate Cancer. Prostate Cancer is one of the most commonly diagnosed cancers in men, and it can be a serious and life-threatening condition if left untreated. The market includes a range of products and services, including diagnostic tests, imaging technologies, surgical and radiation therapies, and medications.
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Key Segments Profiled in the Prostate Cancer Industry Survey
Prostate Cancer Market by Drug Class:
- Hormonal Prostate Cancer Therapy
- Luteinizing Hormone-Releasing Hormone (LHRH) Antagonists
- Zytiga
- Gonax
- Luteinizing Hormone-Releasing Hormone (LHRH) Agonists
- Lupron
- Zoladex
- Eligard
- Decapeptyl
- Vantas
- Others
- Anti-Androgen
- Xtandi
- Casodex
- Luteinizing Hormone-Releasing Hormone (LHRH) Antagonists
- Prostate Cancer Chemotherapy
- Taxotere
- Jevtana
- Prostate Cancer Immunotherapy
- Provenge
- Prostate Cancer Targeted Therapy
- Xofigo
- Others Prostate Cancer
Prostate Cancer Market by Distribution Channel:
- Hospital Pharmacies
- Drug Stores & Retail Pharmacies
- Online Pharmacies
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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