Global prostate cancer therapeutics market is anticipated to grow at an impressive rate through 2028. The multiplication and abnormal enlargement of the prostate gland's aberrant cells in men are known as prostate cancer. Overall, the tenth leading cause of mortality and the sixth major cause of death in men is prostate cancer.
Treatments for prostate cancer include surgery, hormone therapy, radiation, chemotherapy, and biological therapy. Prostatic adenocarcinoma, small cell carcinoma, benign prostatic hyperplasia, and other diagnoses and treatments are used to treat and manage prostate cancer.
An aging population, the sedentary lifestyle of those in industrialized nations, and the early start of urological problems are all factors that contribute to the prevalence of prostate cancer, globally.
The rise in the geriatric population, upsurge in generic medicines, increasing awareness among people concerning the treatment of prostate cancer, availability of new prostate cancer treatments, and strong emerging pipeline drugs are the factors expected to accelerate the growth of the market. Furthermore, the rise in research and development activities and innovation in drugs is anticipated to boost the growth of the global prostate cancer therapeutics market.
Increasing Elderly Population
Prostate cancer is the most prevalent cancer among men in the US, aside from non-melanoma skin cancer. Additionally, it is one of the major causes of cancer death in males of all races including those of Hispanic ancestry. It is diagnosed in about 6 out of 10 men who are 65 and rare in men under 40. Prostate cancer is the second most common cancer among American males, after lung cancer. In the United States, it was predicted that about 268,490 new cases of prostate cancer were reported in 2022, up from 192,280 new cases in 2009. Moreover, it was estimated that, in 2022, around 34,500 men would die of prostate cancer in the U.S. This, in turn, increased the demand for prostate cancer therapeutics in the US.
Launch of Emerging Novel Therapies
The diagnosis of prostate cancer has transformed owing to advanced diagnostic technologies. The detection of prostate cancer has been assisted by the monitoring of PSA levels. Phase II and phase III trials are underway for several novel cytotoxic medications, hormonal treatments, and other anti-prostate-specific membrane antigen therapies.
The Mayo Foundation for Medical Education and Research (MFMER) states that a targeted immune response can be induced against prostate tumors using a combination of hormonal and anti-cytotoxic T-lymphocyte-associated antigen (CTLA) treatment approaches. Hence, innovation in therapies is expected to enhance the growth of the global Prostate Cancer Therapeutics Market. Further, product launches and innovation in medicines by key market players have anticipated booming the growth of the global Prostate Cancer Therapeutics Market.
Side Effects of Hormonal Treatment
Prostate Cancer is a chronic disease with lengthy treatments. The side effects of hormonal treatment include erectile dysfunction, hot flashes, loss of bone density, bone fractures, loss of muscle mass and physical strength, changes in blood lipids, insulin resistance, weight gain, mood swings, fatigue, and the growth of breast tissue (gynecomastia). Hence, long exposure to hormonal treatment affects individuals' daily life and increases the risk of health problems.
Moreover, side effects vary from person to person and the dose used to treat cancer. Hence, the side effects of cancer treatment are projected to hamper the growth of the market.
Report Scope:
In this report, the global Prostate Cancer Therapeutics Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Prostate Cancer Therapeutics Market, By Treatment:
5. Global Prostate Cancer Therapeutics Market Outlook
6. North America Prostate Cancer Therapeutics Market Outlook
7. Europe Prostate Cancer Therapeutics Market Outlook
8. Asia-Pacific Prostate Cancer Therapeutics Market Outlook
9. South America Prostate Cancer Therapeutics Market Outlook
10. Middle East and Africa Prostate Cancer Therapeutics Market Outlook
11. Market Dynamics 11.1. Drivers 11.1.1. Increasing Prevalence of Prostate Cancer. 11.1.2. Adoption of Novel Screening and Diagnostic Technologies 11.1.3. Surge in Research and Development 11.2. Challenges 11.2.1. High Cost of Cancer Treatment 11.2.2. Side Effects of Hormonal Treatment
12. Market Trends & Developments
13. Clinical Trial Analysis
14. Global Prostate Cancer Therapeutics Market: SWOT Analysis
15. Competitive Landscape
16. Strategic Recommendations
A selection of companies mentioned in this report includes
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