Castrate-Resistant Prostate Cancer Market

Castrate-Resistant Prostate Cancer Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030

Castrate-Resistant Prostate Cancer Market: Introduction

Castrate-Resistant Prostate Cancer (CRPC) can be defined as a disease progression even after the administration of androgen depletion therapy. It may present itself as either a continuous rise in serum prostate specific antigens (PSA) levels or as the progression of the pre-existing disease, or as the appearance of new metastases.
Prognosis of castrate-resistant prostate cancer is associated with a wide range of factors, including presence of bone pain, performance status, serum alkaline phosphatase levels, and extent of disease on bone scan
In over 90% of men with CRPC, bone metastases is known to occur, which leads to significant morbidity, pathologic fractures, bone marrow failure, and spinal cord compression

Key Drivers and Restraints of Global Castrate-Resistant Prostate Cancer Market

Incidence of CRPC has been growing globally owing to a rise in the prevalence of prostate cancer, which develops into CRPC after a few years of diagnosis. Prostate cancer is considered to be a leading cause of death in the U.S. According to American Cancer Society, over 191,930 new cases of prostate cancer are anticipated to be recorded in 2020.
Strong focus on the development of pipeline, evolving treatment patterns of CRPC, growing awareness among people, and increase in government focus on enhancing treatment options are projected to fuel the market during the forecast period
Hormonal therapy is considered to a highly preferred mode of treatment owing to the launch of newer hormonal therapies and presence of a range of approved drugs. Additionally, increase in development of innovative medications to address the unmet needs further boost the market.
However, lack of standard treatment sequence and variable choice of treatments that depend on patient characteristics and physician preference are likely to hamper the market during the forecast period

North America to Lead Global Castrate-Resistant Prostate Cancer Market

In terms of region, the global castrate-resistant prostate cancer market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
North America dominated the global castrate-resistant prostate cancer market in 2019, owing to strong presence of leading market players, increase in investments on research & development, and surge in prevalence of prostate cancer in the region. Furthermore, a rise in the demand for early diagnosis, growing awareness among people, and government initiatives further propel the market in the region.
Europe followed North America in terms of share of the global castrate-resistant prostate cancer market in 2019. The market in Asia Pacific is projected to expand at a rapid pace, followed by Latin America and Middle East & Africa. Rise in focus of governments of countries in Asia on enhancing healthcare facilities, increase in focus of market players on Asia Pacific to leverage growth opportunities, and an increase in patient pool boost the castrate-resistant prostate cancer market in Asia Pacific.

Key Players Operating in Global Castrate-Resistant Prostate Cancer Market

Major market players are focused on expanding their presence in the castrate-resistant prostate cancer market primarily by adopting inorganic growth strategies. Leading players in the global castrate-resistant prostate cancer market are: