Target Therapy dominates the Prostate Cancer Therapeutics Market Through 2028
Increasing demand for hormonal therapy along with the rising
incidence of chronic diseases are driving the growth of the market in the
forecast period 2024-2028.
According to the TechSci
Research report, “Prostate Cancer
Therapeutics Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028F”, The global prostate cancer
therapeutics market is projected to increase at an impressive rate in the
forecast period, 2024-2028. The factors responsible for the growth of the
market are the growing elderly population, the availability of effective drugs,
the prevalence of chronic diseases, and sedentary lifestyles. Proteome
profiling, exome sequencing, and whole-genome sequencing are just a few of the
targeted strategies that market players have found to be effective for creating
novel cures and treatments. For instance, in a phase III trial for Olaparib
that will enroll nearly 4,000 men in 2022, tumor genetic testing is expected to
be employed to identify patients. Therefore, the adoption of new screening and
diagnostic technologies, along with government support and initiatives for new
therapies to cure prostate cancer are anticipated to support the growth of the
market.
The market's major
players are concentrating on creating innovative and cutting-edge items.
Numerous businesses have products in their pipeline that are anticipated to hit
the market throughout the projected period. For instance, Merck launched
keylynk-010, a trial to test keytruda in combination with lynparza in patients
with metastatic castration-resistant prostate cancer, in March 2022.
Browse over XX market
data Figures spread through XX Pages and an in-depth TOC on the "Global Prostate Cancer Therapeutics Market.”
The global Prostate
Cancer Therapeutics market is segmented based on treatment and end user. Based
on treatment, the market is categorized into hormonal therapy, chemotherapy,
immunotherapy, and target therapy. Hormonal therapy is further divided into Luteinizing
Hormone-Releasing Hormone (LHRH) Antagonists, Hormone-Releasing Hormone (LHRH)
Agonists, and Anti-Androgen. The chemotherapy therapy segment is bifurcated
into Taxotere, and Jevtana. The immunotherapy segment includes Provenge and targeted
therapy includes Xofigo, and Others. The end-user segment is further segmented
into Hospitals, Oncology Clinics, Ambulatory Surgical Centers, and Others.
The hormonal
therapy segment dominated the segment and the factor responsible for the growth
of the segment is the high consumption of Xtandi in patients with prostate
cancer for a longer period. The majority of the medications used in hormonal
therapy are anti-androgens, luteinizing hormone-releasing hormone (LHRH)
antagonists, and luteinizing hormone-releasing hormone (LHRH) antagonists. Moreover,
the drug also generated high revenue in 2021, which in turn will drive the
growth of the prostate cancer therapeutics market during the forecast period.
Based on End Users,
the market is divided into Hospitals, Oncology Clinics, Ambulatory Surgical Centers,
and Others. The hospital segment is expected to hold the largest market share
in the forecast period, 2024-2028, owing to the presence of sophisticated
medical facilities, patient conveniences, and reimbursement via healthcare
policies. Further, other sub-segments such as Chemotherapy, oncology Clinics, Ambulatory
Surgical Centers, Others are expected to support the growth of the Prostate
Cancer Therapeutics Market.
Major
companies operating in the global Prostate Cancer Therapeutics market are:
- Johnson &
Johnson Services, Inc.
- Astellas Pharma Inc.
- Eli Lilly and
Company
- Sanofi S.A.
- Ipsen Pharma
- Bayer AG
- AstraZeneca
- Valeant
Pharmaceuticals International, Inc.
- Merck & Co.,
Inc.
- Pfizer Inc.
Recent Development
- In January 2020,
Pfizer and Myovant Sciences announced their partnership to commercialize
relugolix, an oral gonadotropin-releasing hormone receptor antagonist. The FDA
has approved Relugolix (120 mg) as ORGOVYX for adult patients with advanced
prostate cancer. As a result, it aids in the treatment of advanced prostate
cancer.
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The
largest market share was held by North America due to the rising incidence of Prostate
Cancer. Thus, the demand for prostate cancer therapeutic products in the region
is projected to be the main driver of growth in the region. However, growth in
North America is responsible for the introduction of promising new medications
in the biologics and hormone therapy sectors.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Prostate Cancer Therapeutics
Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented By Treatment (Hormonal Therapy
(Luteinizing Hormone-Releasing Hormone (LHRH) Antagonists, Hormone-Releasing
Hormone (LHRH) Agonists, Anti-Androgen), Chemotherapy (Taxotere, Jevtana),
Immunotherapy (Provenge), Targeted Therapy (Xofigo), Others), By End User (Hospitals,
Specialized Clinics, Ambulatory Surgical Centers, Others) By Company and By
Region,
has evaluated the future growth potential of global Prostate Cancer
Therapeutics market and provides statistics & information on market size,
structure, and future market growth. The report intends to provide cutting-edge
market intelligence and help decision-makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the global Prostate Cancer
Therapeutics market.”
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