Global Prostate Cancer Therapeutics Market: Snapshot
The global prostate cancer therapeutics market is witnessing steadfast growth over the past several years. The rising incidence of prostate cancer is the key factor behind the growth of prostate cancer therapeutics market. According to Cancer Research - a U.K. based government institute, 11,287 prostate cancer deaths were reported in the country in 2014. Furthermore, as the American Cancer Society, 1 out of every 7 men are expected to be diagnosed with cancer in their lifetime. So much so, prostate cancer is the most common cancer prevalent among men in developed regions, and fourth most prevalent cancer globally. Considering the number of factors driving the adoption of prostate cancer therapeutics, the prostate cancer therapeutics market is likely to clock a CAGR of 8.19% between 2017 and 2024.
Advances in medical science leading to launch of promising treatment options is fuelling the prostate cancer therapeutics market. Various diagnostic techniques have enabled detection of prostate cancer at an early stage. Measurement of prostate-specific antigen (PSA) has enabled early detection of prostate cancer. Some other promising therapies in phase II and phase III clinical trials for prostate cancer detection include hormonal agents, cytotoxic agents, and other antiprostate-specific membrane antigen therapies.
On the other hand, high cost of treatment of prostate cancer is holding back the growth of the prostate cancer therapeutics market. High costs of targeted therapies and other immunotherapies is unaffordable by a large population especially in developing and underdeveloped economies. In addition, reluctance toward adoption of premium treatments is another factor challenging the market’s growth. Most oncologists do not opt for systemic therapies for early state prostate cancer due to negative perception toward systemic therapy.
Hormone Therapy to Continue to Remain Attractive
The global market for prostate cancer therapeutics is segregated based on a few parameters, viz. therapy, distribution channel, and geography. By therapy, hormone therapy, biologic therapy, chemotherapy, and targeted therapy are the segments into which the prostate cancer therapeutics market is divided. Hormone therapy, among key therapy segments in the prostate cancer therapeutics is highly attractive and is likely to stay this way in the years ahead.
Depending upon distribution channel, retail pharmacy, hospital pharmacy, and online sales are the channels based on which the prostate cancer therapeutics market is divided. Of them, hospital pharmacy is a key one as it stocks medicines and instruments needed at various stages of treatment. On the other hand, online distribution channel is pacing up due to various discounts that reduce the overall cost of treatment.
Increasing Availability of Varied Treatment Options to make Asia Pacific Significant
Geography-wise, the report takes stock of the potential of demand in North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among them, North America holds significant share in the prostate cancer therapeutics market due to high number of prostate cancer patients. Vis-à-vis revenue, the region is anticipated to be worth US$6,763.4 mn by the end of 2024. Europe is a significant market for prostate cancer therapeutics due to commercial availability of blockbuster drugs for prostate cancer.
Asia Pacific and Latin America are predicted to display significant growth in the prostate cancer therapeutics market due to rising awareness about the disease.
Leading companies in the global market for prostate cancer therapeutics market Pfizer Inc., Amgen, Janssen Biotech Inc., AstraZeneca Pharmaceuticals, AbbVie, and Sanofi Aventis among others.
Global Prostate Cancer Therapeutics Market: Overview
This report on the prostate cancer therapeutics market examines past and current scenario to present projections at both regional and global level. The global prostate cancer therapeutics market study includes an extensive executive summary, comprising market snapshot that provides information about key segments. It also provides information on growth of this market in key domestic markets based on distribution channel, therapy type, and region. An in-depth qualitative analysis of demand drivers and challenges, opportunities, and trends has been included in the market overview section. In addition, the section concludes with Porters Five Forces Analysis to help comprehend the competitive scenario in this market. This section of the market study also provides market attractiveness analysis that market stakeholders can leverage to make the best bet. Market share analysis of key players presented in the report helps understand overall competitive scenario in the global prostate cancer therapeutics market.
The report begins with an overview of the global prostate cancer therapeutics market along with the description and taxonomy. Moreover, demand supply logistics and value chain of prostate cancer therapeutics market is also provided included in this section. Trends, restraints, and opportunities from the demand and supply perspectives are also provided in the report.
In addition, the report includes other vital statistics, which include market size, growth rate comparison, and absolute dollar opportunity.
The next section focuses on each segment in the market and their growth behavior over the 2017-2024 forecast period. It also includes sub-segments to get a better understanding of the market. The region-wise analysis of the prostate cancer therapeutics market is also covered for North America, Europe, Latin America, the Middle East and Africa, and Asia Pacific.
The report also provides the information on all the leading players in the global managed security services market. The competitive landscape is evaluated on the basis of key parameters including product portfolio, business overview, financial overview, and key development. The report also sheds light on their presence in the regional markets.
Global Prostate Cancer Therapeutics Market: Research Methodology
The analysis of the global prostate cancer therapeutics market presented herein is based on the primary and secondary research. The opinion provided by the market experts have also been included to arrive at projections. The forecasts in the report include revenue projections that is likely to be generated in the global market prostate cancer therapeutics during 2017–2024. The report has also triangulated the data based on the demand and supply in the global market.
The market share estimations of key segments provided in the report have been obtained using standard analytical tools and past and current values. This helps to understand the contribution of each segment in the growth of the market. All this information provided in the report helps to identify growth opportunity in the global managed security services market.
Global Prostate Cancer Therapeutics Market: Competitive Dashboard
This section of the study discusses growth strategies employed by market players along with information on financials, business positioning, and SWOTs of these players during the 2017-2024 forecast period. To sum up, company profiling that includes key competitors, employee strength, business standing, and recent developments are also covered in this section of the report.