IMARC Group, a leading market research company, has recently releases report titled “Prostate Cancer Treatment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global prostate cancer treatment market growth, share, size, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Prostate Cancer Treatment Market?
The global prostate cancer treatment market size reached US$ 7.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.8% during 2023-2028.
What are Prostate Cancer Treatment?
Prostate cancer is a type of severe malignant tumor caused by uncontrollable division and expansion of numerous abnormal cells in the prostate gland. It is diagnosed by clinical laboratory examination, digital rectal exam (DRE), prostate-specific antigen (PSA) test, transrectal ultrasound, transrectal magnetic resonance imaging (MRI), urine testing, and tissue biopsy. It can be treated with numerous therapeutic procedures such as medications, vaccines, and treatments, including immunotherapy, radiation, cryotherapy, surgery, chemotherapy, and biological and hormone therapy, by mitigating the spread of cancer cells in the body. At present, the growing prevalence of prostate cancer is escalating the demand for prostate cancer treatment across the globe.
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What are the growth prospects and trends in the Prostate Cancer Treatment Industry?
The market is primarily driven by the growing instances of prostate cancer, especially amongst the geriatric population. In addition, the rising awareness regarding numerous prostate cancer treatment options is contributing to the market growth.
Moreover, various technological advancements, including the introduction of multiparametric-magnetic resonance imaging (mp-MRI) devices with non-metastatic castration-resistant (nmCRPC) and metastatic hormone nave (mHNPC) settings for diagnosing prostate cancer at early stages, represent another major growth-inducing factor.
Besides this, several governments are taking initiatives to integrate medical reimbursement policies and patient assistance programs (PAPs) that offer financial assistance to patients by providing free medications and treatment, providing a positive thrust to the market growth.
Furthermore, extensive investment in research and development (R&D) activities, mergers and acquisitions, and novel product launches such as PaigeProstate, a clinical-grade artificial intelligence (AI) solution for prostate cancer detection, are creating a favorable market outlook across the globe.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Drug Type:
· Chemotherapy
· Biological Therapy
· Hormone Therapy
· Others
Breakup by Distribution Channel:
· Hospitals Pharmacies
· Drug Stores and Retail Pharmacies
· Online Pharmacies
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Astellas Pharma Inc., AstraZeneca plc, Bayer Aktiengesellschaft, Dendreon Pharmaceuticals LLC. (Sanpower Group Co. Ltd.), F. Hoffmann-La Roche AG, Ferring B.V., GlaxoSmithKline Plc, Ipsen (Mayroy SA), Novartis International AG, Takeda Pharmaceutical Company Ltd. and Tolmar Pharmaceuticals Inc.
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