Castration Resistant Prostate Cancer Treatment Market Set to Surge Significantly by 2025

Prostate cancer can be defined as it is a form of cancer that develops into male reproductive system. Most of the prostate cancer are slow growing and stable but sometimes it can spread from prostate (gland) to other part of body such as bone and lymph node. Initially prostate cancer does not pose any symptom but in severe cases it can cause pain during urination and can cause problem during sexual intercourse. Castration resistant prostate cancer is referred to as a prostate cancer that is spread to other parts of body and is resistant to medical or surgical treatment. Risk factor for castration resistant prostate cancer includes genetic predisposition, geriatric population, unhygienic diet, medication exposure and many sexual partners.

Diagnosis for the detection of castration resistant prostate cancer includes prostate imaging, biopsy, tumor marker and staging test. Crucial factor about castration resistant prostate cancer is that it is resistant to medical and surgical treatment. However, other treatment options that are available in the market include hormone therapy, immune modulation, antiangiogenic treatment and bone targeted therapies.

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Prostate cancer is considered as the most common cause of death among men in the United States. California Journal of Clinical Cancer stated that one in every six U.S. men have received diagnosis test for prostate cancer at some point in their lives. It has also stated that in 2010, 217,730 men were diagnosed with prostate cancer in the U.S. National Centre for Biotechnology Information (NCBI) stated that prevalence of prostate cancer is more in geriatric people (above 65 years of age). Thus, growing geriatric population primarily fuels the global market demand of castration resistant prostate cancer treatment. As an instance, the U.S. Census Bureau stated that the fastest growing segment of the U.S. population is geriatric groups. According to World Health Organization (WHO) estimates, the global geriatric population would increase from 524 million in 2010 to around 2 billion by 2050.

Moreover, the global geriatric population would grow at the fastest rate in developed countries such as the U.S., the U.K. and Japan. Technological advancement in diagnostic test for detection of prostate cancer is also expected to derive the global market of castration resistant prostate cancer treatment. However, lack of awareness and lack of proper healthcare facilities present in few developing countries might hinder the global market demand of castration resistant prostate cancer treatment.

North America dominates the global market for castration resistant prostate cancer treatment due to presence of large prostate cancer population in this region. Moreover, increasing demand of diagnostic test, increasing awareness among people and initiative taken by the federal government also accounted for the market growth in North American region. Europe represents the second position in the global castration resistant prostate cancer treatment market due to presence of large geriatric population base in European region.

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Asia-Pacific is considered as an untapped market due to lack of awareness and lack of proper healthcare facilities in some Asian countries. Asian market growth will be fuelled by the presence of untapped opportunities due to extensive increase in the healthcare infrastructure (healthcare cost, healthcare facility and healthcare budget). Similarly, Asia-Pacific is considered as an emerging market during the study period due to growing market penetration in this region.

Various key players contributing the global market share of cardiac castration resistant prostate cancer treatment market include Active Biotech AB, Diagnocure, Glaxosmithkline PLC, Northwest Biotherapeutics, Millennium Pharmaceuticals, Hologic, Spectrum Pharmaceuticals, Abbott Laboratories, Bayer Healthcare Pharmaceuticals among others.

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