Prostate cancer is a cancer of prostate gland, which is a part of male reproductive system. It is the second most common cancer after skin cancer occurring in men. It is prevalent in geriatric men over the age of 50 years. Risk factors for development of prostate cancer are old age, family history, and race. In the U.S., it is more common among the African-American population than Caucasians. Increased prevalence of prostate cancer due to rapidly aging population, growing awareness among people, rising treatment demand, and availability of new treatments are drivers boosting market growth. However, high cost of the treatment, side effects, and prolonged treatment duration are hampering market growth. Unmet medical needs and patent expiry of blockbuster molecules are likely to create lucrative opportunities for new entrants. New product launch and acquisitions are the current market strategies adopted by leading players. For instance, Johnson & Johnson acquired Aragon Pharmaceuticals. Moreover, Astellas Pharma in collaboration with Medivation launched Xtandi in various countries for the treatment of metastatic CRPC.
The global prostate cancer treatment market can be segmented based on type of diagnosis technique, type of cancer, type of therapy, and region. In terms of type of diagnosis technique, the market can be classified into multiparametric MRI (mp-MRI), PSA, rectal exam, and biopsy. Based on type of cancer, the market can be segmented into hormone refractory prostate cancer and hormone sensitive prostate cancer. In terms of type of therapy, the market can be segmented into chemotherapy, hormonal therapy, targeted therapy, immunotherapy, radiation therapy, and surgery. The chemotherapy and hormonal therapy segments dominate the market. Chemotherapy is further classified into apoptosis inducing drugs, angiogenesis inhibitors, and signal transduction inhibitors. Commonly prescribed chemotherapy drugs are docetaxel, etoposide, vinblastine, carboplatin, and vinorelbine. Hormonal therapy is further segmented into anti-androgens (Xtandi, Casodex), luteinizing hormone releasing hormone (LHRH) antagonists (Zytiga, Gonax), and LHRH agonists (Lupron, Zoladex, Eligard, Decapeptyl, Vantas). Radiation therapy can be segmented into external beam radiation therapy which includes 3D conformal radiation therapy, proton beam radiation therapy, and brachytherapy. Types of surgeries performed for treatment of prostate cancer are transurethral resection (TUR), radical prostatectomy, and orchidectomy.
LHRH antagonist Zygita is the gold standard for the treatment of prostate cancer and is witnessing rapid increase in sales. However, loss of exclusivity of Zygita will impact sales during the forecast period. The immunotherapy drugs segment is expected to grow rapidly during the forecast period. Valeant Pharmaceuticals North America LLC’s Provenge is a leader in this class. Future molecules in this class are INO-5150 SynCon and PROSTVAC (Bavarian Nordic). Example coming under targeted therapy is Xofigo.
The global prostate cancer treatment market is highly demanding. There are eight plus molecules in phase III of clinical trials and 26 molecules in phase II; of these 21 are small molecules. Major event occurred in forecast period is label extension of Xtandi from treatment of localized prostate cancer to chemotherapy-naïve mCRPC, nmCRPC, and hormone-sensitive prostate cancer. Xtandi’s proven safety and efficacy along with ease of administration as compared to Zytiga will make it a market leader during the forecast period.
In terms of region, the global prostate cancer treatment market can be segmented into North America, Latin America, Europe, Middle East & Africa, and Asia Pacific. North America and Europe dominate the market. Rising prevalence of disease, world class diagnosis techniques, health awareness among the people, and increasing geriatric population drive the market in these regions. High investment in R&D in the U.S. and presence of African-American population are other factors propelling the market in the U.S.
Asia Pacific is expected to be the fastest growing market during the forecast period. Rising awareness about the disease, government support, and advanced diagnosis are factors boosting the market. Increased investments in research and development of immunotherapy and targeted therapies is creating significant pipeline. This is one of the factors likely to trigger market growth in Asia Pacific.
Key players operating in the global prostate cancer treatment market are Dendreon Corporation, AstraZeneca plc, Johnson & Johnson, Sanofi, Abbott, Astellas Pharma, Inc., Bristol-Myers Squibb, Bayer AG, Ipsen, Tolmar, Inc., Indevus Pharmaceuticals, and Ferring Pharmaceuticals.
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.