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.
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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. 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.
The global Prostate Market has been segmented on the basis of treatment, end-users, and region. By treatment, the market has been segmented into chemotherapy, surgery & radiation therapy, targeted therapy, biologic therapy, hormone therapy, vaccines and others. Further sub-segmentation is as follows:
- Chemotherapy – antimetabolites, anthracyclines, taxanes, and alkylating agents
- Targeted Therapy – tyrosine kinase inhibitors, monoclonal antibodies
- Hormone Therapy – estrogen-receptor modulators (SERMS), aromatase inhibitors, and others.
By end-users, the market has been segmented into hospitals, clinics, pharmacies, and others. By region, the market has been segmented into the Americas, Europe, the Asia-Pacific (APAC) and the Middle East and Africa.
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.
Eminent market players that contribute to the competitive landscape include OncBioMune Pharmaceuticals Inc., Endo Pharmaceuticals Inc., OncoGenex Pharmaceuticals Inc., TOLMAR Inc., Bayer Pharma AG, Tokai Pharmaceuticals, Inc., Progenics Pharmaceuticals, Inc.
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