Press release
Castration-Resistant Prostate Cancer Treatment Market is Expecting Worldwide Growth by 2017 – 2025
According to WHO, 1.1 million new cases are coming up every year with 3000,000 deaths annually. Improving medical facilities all over the world are also diagnosing more and more people suffering from prostatic cancer showing positive trends for increase in therapeutics market.
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Castration-resistant prostate cancer Market: Drivers & Restraints
Castration-resistant prostate cancer market is too big and evolving rapidly at a global scale due to increase in the number of patients and growing trends. Inspite of this, its treatment is too expensive which couldn’t be afforded by everyone which limits its usage and curbs market growth. Some other factors like side effects of treatment, short efficacy life of drug, drug resistance, lack of awareness and others restraints its market to expand. Despite of all this, continuous improvisation in the drugs and their delivery system with the approval of novel therapeutics is fueling its market and made it one of the largest cancer drug selling market in US. By overcoming some of the key challenges of market, one can explore huge potential for growth as the demand for Castration-resistant prostate cancer treatment therapeutics will be going to increase with the increasing aging population, government support and more screening techniques available.
One of the market changer drug of Johnson and Johnson’s Zytiga for Castration-resistant prostate cancer treatment accumulated a revenue of $2.24 billion in 2014. Some novel therapeutics such as ARN-509, Tasquinimod, Ipilimumab etc. are in clinical trials which will most probably be in the market next year. Pfizer Inc. also announced last year a $14 billion purchase of Medivation Inc., makers of the castration-resistant prostate cancer drug Xtandi. New innovation in this area and continuous approval of new drugs support the market growth. Last year, USFDA has granted Breakthrough Therapy Designation for Lynparza drug (AstraZeneca). These sorts of advancements in this direction is going to lift the market.
A geographic condition regarding the castration-resistant prostate cancer treatment market, it has been segmented into five key regions: North America, Latin America, Europe, Asia-Pacific and the Middle East & Africa. Current trend shows North America at the top for the Castration-resistant prostate cancer market because of large number of patients, use of high throughput technology and availability of medical facilities to all the patients, reimbursement scenario is also growing the market as government in developed countries spend a lot for the health sector. It is also considered one of the costliest cancer market in US generating a huge revenue to the pharmaceutical companies. Following US, Western Europe, Australia and New Zealand also shows an increase in patients’ scenario and thus have a demand for therapeutics. Besides this, with the advancements of diagnostics facilities in developing countries, more cases are coming up generating a huge potential of investment for reaping a good profit in future.
Some of the global key players in the castration-resistant prostate cancer treatment market includes Janssen biotech, Sanofi-Aventis, F. Hoffmann-La Roche Ltd, Bayer AG, Pfizer Inc., Medivation, Astellas pharma Inc. and others.
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