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:
- Johnson & Johnson Services, Inc.
- Pfizer, Inc.
- Astellas Pharma, Inc.
- Bayer AG
- Active Biotech AB
- Glaxosmithkline PLC
- Northwest Biotherapeutics
- Millennium Pharmaceuticals
- Spectrum Pharmaceuticals
Global Castrate-Resistant Prostate Cancer Market: Research Scope
Global Castrate-Resistant Prostate Cancer Market, by Therapy
- Hormonal Therapy
Global Castrate-Resistant Prostate Cancer Market, by End-user
- Ambulatory Surgical Centers
- Specialty Centers
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.