Prostate Cancer Market Grows Incredibly; Confirms MRFR Unleashing Market Prognostications Up To 2027

Prostate Cancer Market is growing due to the increasing prevalence of prostate cancer attributed to medication or toxins and innovation in the drugs to cure this disease. Heady or changing lifestyles is the major reason responsible for increasing occurrences to the disease eventually contributing to the market growth. Other factors such as technological advancements and advent techniques to fight prostate cancer and rise in the funding in both public and private sector in the field of drug development are fostering the market growth of Prostate Cancer market.

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Additionally, increasing investment transpired by the key players in the field of R&D of novel drugs is providing impetus to the market growth. Moreover, growing geriatric populace, resulting in prostate cancer incident cases is also contributing to the market growth of Prostate Cancer market.

The Market Research Future published a Cooked research “Global Prostate Cancer Market Research Report - Forecast to 2027” - Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2027. Major Key Players of Prostate Cancer Market are OncoGenex Pharmaceuticals Inc. (US), Bayer Pharma AG (Berlin), Progenics Pharmaceuticals, Inc. (US), Tolmar Inc. (US), OncBioMune Pharmaceuticals Inc. (US), Endo Pharmaceuticals Inc., and Tokai Pharmaceuticals, Inc. are some of the prominent players profiled in MRFR Analysis and are competing in the Global Prostate Cancer Industry.

Prostate Cancer Market – Overview:

The Prostate Cancer market is accruing and expected to gain further prominence over the forecast period mainly due to the growing prevalence of prostate cancer, technological advancements and availability of effective treatments. According to a recent study report published by the Market Research Future, The global market of Prostate Cancer is projected to accrue at a rapid pace during the forecast period (2017 – 2027). The Market is forecasted to account for upsurge accretions by 2027with a staggering CAGR during 2017 and 2027.

However, cost associated with the Prostate Cancer treatment which is slightly on the higher side, side effects of surgery like urinary incontinence & impotence and surgical risks like heart attack, stroke, and blood clots are some of the factors posing a challenge to the market growth. Also, Loss of patent protection for drugs is considered as one of the major factor impeding the market growth.

Robotic Surgery or robot surgeon is the current trend that observed in the market as patients are more inclined towards robotic surgeries. Centres that could not afford expensive machines are shutting down rapidly. Almost 40% of global hospitals have adopted robots to perform prostate surgery. Hospitals are investing heavily into new and sometimes unproven technologies which have a direct impact on the type of care patients receive.

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Urologists are the specialists involved in the diagnosis of prostate cancer initially and will perform the prostate biopsy. Depending on the grade and stage of the prostate cancer at the time of the diagnosis, additional specialists may be involved in the care. Urologists perform surgical based treatments for prostate cancer like radical prostatectomy, minimally invasive treatments such as cryotherapy, brachytherapy and prescribe medications like hormonal therapy.

Medical oncologists are medical doctors who specialize in the treatment of cancer. Medical oncologists treat prostate cancer with a variety of medical therapies, including chemotherapy, immune/vaccine, and hormonal therapy.

Radiation oncologists are specialists who treat cancer with ionizing radiation. Such as external beam radiation therapy or internally through the placement of small radioactive pellets into the prostate like brachytherapy.

Prostate Cancer Market – Competitive Analysis:

Characterized by the presence of several major players, having international recognition; the global market of Prostate Cancer appears to be highly fragmented and competitive. Marketers compete based upon price and brand reinforcement. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position.

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Industry News:

Oct 03, 2017, Strata Oncology (US) announced that it has partnered with the University of California, San Francisco to launch a new initiative called StratifyProstate, which aims to expand access to precision medicine for men with metastatic prostate cancer by accelerating clinical trial enrolment.

Prostate Cancer Market – Segments

The Prostate Cancer Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;

Segmentation By Product Types: Comprises Hormone Therapy, Targeted Therapies, Therapeutic Vaccines and other.

Segmentation By End Users: Comprises Hospitals, Clinics and others.

Segmentation By Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

Prostate Cancer Market – Regional Analysis:

Globally North America is the largest market for Prostate Cancer. The North American market for Prostate cancer is expected to grow at a significant rate of CAGR by the end of the forecasted period. This is increasing as there is continuous input for innovative drugs to cure the diseases.

Europe is expected to be the second-largest market for Prostate cancer which is expected to grow at a considerable rate of CAGR.

North America and Europe will be close competition during the forecasted period. However, it is anticipated that North America will continue to dominate over Europe by 2027. As of now U.S. and Canada are the leading countries with respect to revenue generation and market penetration across the globe.

On the other hand, Asia Pacific region will be with China, India, Japan, South Korea, Taiwan, Singapore, Malaysia, Australia, New Zealand and others its forefront will lead the market further to next 10 years and will continue with this trend through the forecast period.

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Akash Anand,

Market Research Future

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This release was published on openPR.