Cancer is one of the most fatal and chronic disorders, in which, there is development of tumor due to uncontrolled growth of cells in particular part of the body. Cancer is highly hazardous disease, in which, the mortality rate is extremely high, due to highly invasive nature and prolonged duration of disease.
Metastatic hormone refractory prostate cancer is the cancer of prostate glands. Prostate cancer is the most common form of cancer that affects men. In most of the cases, cancer remains confined to prostate gland, even after treatment. Hence, it is usually difficult and very painful to treat prostate cancer. The diagnostic tests may preliminary include deep study of patient’s history and reasons of pain. Afterwards, the diagnosis of metastatic hormone refractory prostate cancer is carried out by utilizing imaging studies, such as, CT scan, MRI, bone scanning, and PET scanning. Biopsy test is also used for diagnosis and confirmation of the disease. Moreover, rising level of prostate-specific antigens (PSA) in a patient treated with prostate cancer indicates that the disease has returned.
The market of metastatic hormone refractory prostate cancer is segmented on the basis of therapies and treatments available, such as, radiation therapy, chemotherapy, and cryosurgery. Radiation therapy mainly includes high energy X-rays or gamma-rays that are used to destroy the tumors. Hormone therapy is considered as the major therapy to treat metastatic hormone refractory prostate cancer. Major hormones used for the treatment of metastatic hormone refractory prostate cancer include goserelin (Zoladex), histrelin (Vantas), and leuprolide (Lupron) amongst others. Additionally, combined hormone therapy includes flutamide (Eulexin and others), nilutamide (Nilandron) and others. Chemotherapy is pharmacological treatment by using anti-cancer drugs either orally or parenterally. Major drugs used to treat this cancer include ketoconazole, dexamethasone, glucocorticoids, bisphosphonates, and finasteride (5-alpha reductase inhibitors) amongst others. Cryosurgery is also sometimes considered as the major therapy to treat metastatic hormone refractory prostate cancer. In addition, the market is segmented on the basis of geography, such as North America, Europe, Asia-Pacific and Rest of the World (RoW). The North American region is the most dominating market in the world, owing to rapidly growing incidences of prostate cancer and rising focus towards R&D to treat metastatic hormone refractory prostate cancer. On the other hand, Asia-Pacific and RoW are the most promising markets in the upcoming period, owing to rising awareness of prostate cancer, its chronic impact and treatments.
The market of metastatic hormone refractory prostate cancer is expected to steady growth rate during forecast period from 2014 – 2020. This growth is anticipated to be driven by various factors, such as, R&D practices running across the globe and high prevalence of prostate cancer. Owing to R&D practices, a number of drugs and formulations, such as, MDX-010 (Ipilimamab), MDV3100, Abiraterone and others are under pipeline studies and are expected to enter in the market during forecast period. Additionally, high prevalence of the disease is the major driver of the market growth. According to American Cancer Society estimates, approximately 233,000 new cases of prostate cancer are expected to diagnose in 2014, out of which, around 30,000 people may die due to prostate cancer. Hence, this high prevalence is the major driver of the market growth. In addition, rising awareness amongst the population for prostate cancer, and increasing medical infrastructure also support the growth of this market. However, high cost of R&D, diagnosis and treatment and lack of awareness in large number of countries (particularly belongs to Asia-Pacific and RoW region) are the major hurdles in the growth of this market.
The major players operating in this market include Novartis International AG, Pfizer, Inc., AstraZeneca plc, Genentech, Inc., Merck & Co, Inc. and Eli Lilly and Company amongst others.
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.