Prostate Cancer Therapeutics Market Size 2028: Projected Growth and Opportunities | Techsci Research

Posted by Kumar on April 27th, 2023

According to a TechSci Research report titled "Prostate Cancer Therapeutics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F," the global market for prostate cancer therapeutics is expected to experience significant growth between 2024 and 2028. This growth is attributed to factors such as the rising elderly population, the availability of effective drugs, the prevalence of chronic diseases, and sedentary lifestyles. Market players have identified targeted strategies such as proteome profiling, exome sequencing, and whole-genome sequencing as effective for developing new treatments and cures. For example, in 2022, a phase III trial for Olaparib will enroll nearly 4,000 men, with tumor genetic testing being used to identify patients.

To support the market's growth, new screening and diagnostic technologies are being adopted, and government initiatives are being implemented to promote the development of new therapies for prostate cancer. The market's key players are focusing on creating innovative and cutting-edge products, with many businesses expected to launch new products throughout the projected period. Merck, for instance, recently initiated keylynk-010, a trial to test keytruda in combination with lynparza for patients with metastatic castration-resistant prostate cancer, in March 2022.

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on the "Global Prostate Cancer Therapeutics Market.” - https://www.techsciresearch.com/report/prostate-cancer-therapeutics-market/14698.html

The Prostate Cancer Therapeutics market is segmented based on treatment and end-user categories. The treatment category comprises hormonal therapy, chemotherapy, immunotherapy, and targeted therapy, with hormonal therapy further divided into Luteinizing Hormone-Releasing Hormone (LHRH) Antagonists, Hormone-Releasing Hormone (LHRH) Agonists, and Anti-Androgen. The chemotherapy therapy segment is bifurcated into Taxotere and Jevtana. The immunotherapy segment includes Provenge, while targeted therapy includes Xofigo and Others. The end-user category is segmented into Hospitals, Oncology Clinics, Ambulatory Surgical Centers, and Others.

The hormonal therapy segment dominated the market due to high consumption of Xtandi for a longer period by patients with prostate cancer. Anti-androgens, luteinizing hormone-releasing hormone (LHRH) antagonists, and luteinizing hormone-releasing hormone (LHRH) agonists are the majority of the medications used in hormonal therapy. Moreover, the high revenue generated by the drug in 2021 is expected to propel the growth of the Prostate Cancer Therapeutics market during the forecast period.

In terms of end-users, the hospital segment is expected to hold the largest market share between 2024 and 2028 due to the availability of advanced medical facilities, patient conveniences, and healthcare policies that provide reimbursement. Other sub-segments such as Chemotherapy, Oncology Clinics, Ambulatory Surgical Centers, and Others are also expected to support the growth of the Prostate Cancer Therapeutics market.

Major companies operating in the global Prostate Cancer Therapeutics market are:

• Johnson & Johnson Services, Inc.
• Astellas Pharma Inc.
• Eli Lilly and Company
• Sanofi S.A.
• Ipsen Pharma
• Bayer AG
• AstraZeneca
• Valeant Pharmaceuticals International, Inc.
• Merck & Co., Inc.
• Pfizer Inc.

Recent Development

• In January 2020, Pfizer and Myovant Sciences announced their partnership to commercialize relugolix, an oral gonadotropin-releasing hormone receptor antagonist. The FDA has approved Relugolix (120 mg) as ORGOVYX for adult patients with advanced prostate cancer. As a result, it aids in the treatment of advanced prostate cancer.

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The largest market share was held by North America due to the rising incidence of Prostate Cancer. Thus, the demand for prostate cancer therapeutic products in the region is projected to be the main driver of growth in the region. However, growth in North America is responsible for the introduction of promising new medications in the biologics and hormone therapy sectors.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Prostate Cancer Therapeutics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented By Treatment (Hormonal Therapy (Luteinizing Hormone-Releasing Hormone (LHRH) Antagonists, Hormone-Releasing Hormone (LHRH) Agonists, Anti-Androgen), Chemotherapy (Taxotere, Jevtana), Immunotherapy (Provenge), Targeted Therapy (Xofigo), Others), By End User (Hospitals, Specialized Clinics, Ambulatory Surgical Centers, Others) By Company and By Region, has evaluated the future growth potential of global Prostate Cancer Therapeutics market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global Prostate Cancer Therapeutics market.”

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