Prostate Cancer Drugs Market Trends, Business Overview, Industry Growth and Forecast to 2028

The global prostate cancer drugs market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). Increasing prevalence of prostate cancer, increased public awareness about prostate cancer treatment, improved research and development investments by drug founders, potent pipeline drugs, and the discovery of new treatments for advanced prostate cancer for the treatment of prostate cancer are the key factors driving the global prostate cancer market. In addition, increased demand for prostate cancer treatment and management and increased intake of non-metastatic castration-resistant hormones and metastatic hormone and prostate cancer settings are some of the factors contributing to market growth. The prostate cancer drug market in the USA is regulated by the FDA is responsible for approving new drugs and setting regulations related to prostate cancer treatment. In February 2018, the FDA approved Erleada treatment for not spreading prostate cancer (non-metastatic), but it continues to grow despite treatment with hormone therapy.

Increasing numbers of the male geriatric population are having a significant impact on the market for prostate cancer drugs. Prostate cancer is one of the most common types of cancer in men over the age of 60. According to the United Nations, it is an estimated 703 million people aged 65 or above worldwide, about 13 of the world's population in 2019. Prostate cancer statistics in the USA state that about 6 out of 10 cases of prostate cancer in men 65 years of age and above are rare in men under 40 years of age.

Some major players in the market include Astellas Pharma Inc., AstraZeneca plc., Bayer AG, Ferring Pharmaceuticals Inc, and GlaxoSmithKline Plcamong others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market.

For instance, in June 2021, Bayer, a Germany-based pharmaceutics company acquired Noria Therapeutics Inc. and PSMA Therapeutics Inc for an undisclosed amount. The acquired Bayer is gain exclusive access to a specialized alpha radionuclide investigational drug built on actinium-225 and a small molecule aimed against prostate-specific membrane antigen.

In September 2019, the National Institute of Health had revealed that prostate cancer screens might turn to biomarkers in semen. The edible and hub are collaborated to research extracellular miRNAs. The research outcomes concluded that semen exosome miRNA-based biomarkers could improve the diagnosis of prostate cancer.

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Market Coverage
•The market number available for - 2021-2028
•Base year- 2021
•Forecast period- 2022-2028
•Segment Covered-
•By Drug Type
•By Distribution Channel
•Regions Covered-
•North America
•Europe
•Asia-Pacific
•Rest of the World

Competitive Landscape-Astellas Pharma Inc., AstraZeneca plc., Bayer AG, Ferring Pharmaceuticals Inc, and GlaxoSmithKline Plc, among others.

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Global Prostate Cancer Drugs Market Report by Segment
By Drug Type
•Chemotherapy
•Biological Therapy
•Hormone Therapy
•Others
By Distribution Channel
•Hospital Pharmacies
•Drug Stores & Retail Pharmacies
•Online Pharmacies

Key questions addressed by the report
•What is the market growth rate?
•Which segment and region dominate the market in the base year?
•Which segment and region will project the fastest growth in the market?
•How has COVID-19 impacted the market?
•Deviation from the pre-COVID-19 forecast
•Most affected region and segment
•Who is the leader in the market?
•How players are addressing challenges to sustain growth?
•Where is the investment opportunity?

 

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This release was published on openPR.