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The global penile cancer market is expected to witness moderate growth during the forecast period between 2021 and 2031.
Penile cancer is a medical condition wherein malignant tumor cells develop in a man's reproductive organ.
It is one of the rarest types of cancer and some of the symptoms that could lead to this condition include lumps, bleeding, and redness. A few causes of penile cancer could be tobacco, exposure to carcinogenic substances, improper hygiene, and growing age.
Male patients who have tested positive for the human immunodeficiency virus, as well as human papilloma virus, could also suffer from penile cancer.
Some of the common types of penile cancer include melanoma, sarcoma, epidermoid carcinoma, and basal cell carcinoma.
Penile cancer is usually witnessed in men above the age of 30 and its diagnosis is primarily done by examining the penis which is succeeded by biopsy of the outgrowth.
Surgical excision, antiviral therapy, and chemotherapy are some modes of treating patients suffering from penile cancer. Radiation is deployed to ensure there is no recurrence of the disease, in future.
Rising demand for products used for penile cancer treatment is the key growth driver for the global penile cancer market.
Also, availability of affordable medicines to treat patients could fuel the growth in the global penile cancer market, in future.
In addition to this, advancements to existing treatment products could propel product demand and bolster the overall penile cancer market, in the coming years.
Government initiatives and measures, spreading awareness about the symptoms of penile cancer could help in market growth, in the years ahead.
Hospital end-use segment is expected to make the largest contribution to the overall penile cancer market owing to rising number of patient admissions in hospitals, suffering from penile cancer.
The global penile cancer market is extremely competitive, with the presence of several well-established players. Many of these players are expected to account for a large share in the overall market, in future.
Research and development activities could be a key growth strategy for the leading penile cancer market players, in the coming years.
Growth strategies such as novel product launches could help well-established penile cancer market players gain a competitive edge over other players.
Merck & Co. Inc. launched a new vaccine named Gardasil 9 against human papilloma virus in 2018, which was approved by the FDA. This vaccine has proven beneficial in the treatment of cervical cancer which could, in turn, lead to penile cancer in men.
Collaboration with smaller players could help leading penile cancer market players expand their market presence and increase their revenue shares.
Some of the prominent players in the global penile cancer market include Novartis AG, GlaxoSmithKline PLC, Merck & Co Inc., Pfizer Inc., and, F. Hoffmann-La Roche Ltd
Asia Pacific is expected to be the dominant region in the global penile cancer market in future owing to increasing population suffering from human immunodeficiency virus in countries such as India.
North America is expected to offer lucrative growth opportunities for the overall penile cancer market because of increasing prevalence of patients suffering from penile cancer in countries such as US and Canada as well as the availability of cost-effective drugs in these countries.
The presence of developed healthcare infrastructure facilities in these countries could also contribute to the growth of the penile cancer market, in North America.
Europe is anticipated to witness strong growth in the global penile cancer market owing to the presence of well-established penile cancer market players in countries such as UK and Germany.
The rest of the world is expected to witness sluggish growth in the penile cancer market, in the coming years.
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Penile Cancer Market
