Prostate Cancer Drugs Market – By Cancer Type (Hormone Sensitive Prostate Cancer and Hormone Refractory Prostate Cancer), By Therapy Type (Hormonal Therapy, Chemotherapy, Immunotherapy, Radiation Therapy, Targeted Therapy, and Surgery), By Distribution Channel (Online Pharmacies, Hospital Pharmacies, and Retail Pharmacies), and By Region - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Prostate Cancer Drugs Market is accounted approximate USD 7221.2 million in 2020 and it is expected to reach approximate USD 10917.6 million by 2030 with a CAGR of 4.7% during forecast period.    Prostate cancer is a type of cancer that affects the prostate gland, which is a part of the male reproductive system. The prostate gland is situated in the pelvis, underneath the bladder and in front of the rectum. When the cells in the prostate gland begin to multiply uncontrollably, it gives rise to prostate cancer. Prostate cancer is the second most common type of cancer occurring in men after skin cancer and this is the key factor driving the global prostate drugs market.

Market Segmentation:

On the basis of cancer type, the prostate cancer drugs market can be bifurcated into hormone sensitive prostate cancer and hormone refractory prostate cancer. Based on therapy type, the market can be segmented into hormonal therapy, chemotherapy, immunotherapy, targeted therapy, radiation therapy, and surgery. Chemotherapy can be further segmented into apoptosis inducing drugs, angiogenesis inhibitors, and signal transduction inhibitors. Hormonal therapy is further segmented into anti-androgens, LHRH (luteinizing hormones releasing hormones) antagonists, and LHRH agonists. Radiation therapy is further classified into external beam radiation therapy that includes 3D conformal radiation therapy, proton beam radiation therapy, and brachytherapy. The surgical therapy types are further segmented into transurethral resection (TUR), radical prostatectomy, and orchidectomy. Immunotherapy comprises of vaccines, and targeted therapy consists of cytotoxic drugs. According to distribution channel, the prostate cancer drugs market can be categorised into online pharmacies, hospital pharmacies, and retail pharmacies. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Market Dynamics and Factors:

The rising geriatric population and the high prevalence of prostate cancer coupled with it is the major factor driving the prostate cancer drugs market. For instance, according to the United Nations, there were around 962 million people aged 60 or above contributing to almost 13% of the global population in 2017. The risk of developing cancer increases significantly with age. Additionally, technological advancements in drug development, strong R&D investments in pharmaceutical sector are going to create lucrative opportunities for the prostate cancer drugs market to grow in the coming years. For instance, in February 2018, Pfizer declared the results of its phase 3 prosper trial in patients with non-metastatic Castration-Resistant Prostate Cancer (CRPC), which demonstrate that the use of XTANDI in combination with androgen deprivation therapy (ADT) considerably reduced the risk of developing metastases or death by 71% compared to using ADT alone. Certain factors like recurrent prostate cancer is the major restraint in the market growth of prostate cancer drugs. The recurrence of cancer cells after initial treatment and its spreading over other tissues next to prostate is referred as recurrent prostate cancer.

Geographic Analysis:

North America is expected to dominate the prostate cancer drugs market globally in terms of market share during the forecast period followed by Europe. The rising prevalence of the disease in the U.S; the growing geriatric population; availability of world class health facilities; a huge pool of drug manufacturers; and a growing African-American population in the U.S who are very much prone to prostate cancer are the major reasons attributing towards the prostate cancer drugs market growth in the region. For instance, the American Cancer Society states that in the U.S that around 6 prostate cancer cases in 10 are diagnosed in men aged above 65 years. The Asia Pacific region is anticipated to be the fastest growing market for prostate cancer drugs during the forecast period. Growing awareness regarding the disease; government support in R&D of immunotherapy; and investments from key players in APAC are the major factors responsible for the market growth of prostate cancer drugs in the region.  

Competitive Scenario:

The key players operating in the global prostate cancer drugs market are –

Johnson & Johnson, Merck & Co., GlaxoSmithKline, Novartis, Sanofi, Bayer Healthcare, Amgen, Astra Zeneca PLC., Ipsen Pharma, Astellas Pharma Inc.

Prostate Cancer Drugs Market Report Scope