Castrate Resistant Prostate Cancer Therapeutics Market

SKU: DMHCIT2977 | Last Updated On: Oct 18 2022 | Available Formats

> Castrate Resistant Prostate Cancer Therapeutics Market Expected to reach a high CAGR of 8.4% during the forecast period 2022-2029: DataM Intelligence

Castrate Resistant Prostate Cancer Therapeutics Market is segmented By Therapy Type (Chemotherapy, Hormonal Therapy, Immunotherapy, Radiotherapy), By Drug Delivery Method (Oral, Injectable), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029.

 

Castrate Resistant Prostate Cancer Therapeutics Market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of 8.4% during the forecast period (2022-2029).

Castrate Resistant Prostate Cancer Therapeutics Market Report Scope:

Metrics

Details

CAGR

8.4%

Segments Covered

By Therapy Type, By Drug Delivery Method, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Regions Analyzed

North America, Latin America, Europe, Middle East, Africa, Asia Pacific, and the Rest of the world.

Major Companies Covered

Abbott Laboratories, EKF Diagnostics Holdings plc, BioMérieux SA, Atlas Medical, Quidel Corporation, BIOSYNEX SA, Prestige Brands Holdings, Swiss Precision Diagnostics (SPD) GmbH, Piramal Enterprises, NG BIOTECH SAS, and among the major companies listed in the final report.

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Castration-resistant prostate cancer is stated as prostate cancer that is scattered to other parts of the body. Several risk factors for castration-resistant prostate cancer include genetic predisposition, unhygienic diet, geriatric population, medication exposure, and many sexual partners. The methods were available to diagnose castration-resistant prostate cancer, including prostate imaging, tumor marker, biopsy, and staging test. For CRPC treatment, docetaxel-based chemotherapy has been widely accepted by urologists and oncologists. The increasing prevalence of prostate cancer, including castration-resistant prostate cancer, augments the market growth. Moreover, the increasing geriatric population is the main driver of the market.

Market Dynamics:

The growing prevalence of prostate cancer leads to the market’s growth.

The rising incidences of prostate cancer globally are spurring the market growth for prostate cancer therapeutics. Prostate cancer is most common in men, except for skin cancer. According to the data estimated by the Cancer.Net Editorial Board, 268,490 men in the United States were diagnosed with prostate cancer in 2022. According to Net Editorial Board, estimated data of 1,414,259 people were diagnosed with prostate cancer in 2020. It is the fourth most commonly diagnosed cancer in the world. It is the second leading cause of cancer death in men in the United States. There were 34,500 people who died of prostate cancer in 2020, and 375,304 people worldwide died of prostate cancer. Developed nations have a higher prevalence of prostate cancer cases than developing nations. Cancer patients' growth leads to increased demand for castrate-resistant prostate cancer therapeutics to minimize the risk of death and lower the virus's effect on the tumor. The global market consumers are highly health-conscious and ready to spend high amounts to enhance their severe health conditions. The growth in the consumers' average purchasing power and rising cancer prevalence will fuel the demand for castrate-resistant prostate cancer therapeutics globally during the forecast period.

Several drug approvals for castrate-resistant prostate cancer help to grow market growth. The government's focus on marketing castrate-resistant prostate cancer therapeutics is increasing considerably across the globe. There are several recent developments noticed in the castrate-resistant prostate cancer therapeutics market, such as. In March 2022, the FDA approved Pluvicto for metastatic castration-resistant prostate cancer treated with androgen receptor (AR) pathway inhibition and taxane-based chemotherapy.

However, the high cost associated with castrate-resistant prostate cancer treatment is the major restraint for the market's growth during the forecast period.

Market Segmentation:

The oral drug delivery segment accounted for the highest share in global castrate resistant prostate cancer therapeutics market.

The castrate-resistant prostate cancer therapeutics market is classified into oral drug delivery methods and injectable drug delivery methods by drug delivery method. The oral drug delivery method contributes a major share of the castrate-resistant prostate cancer therapeutics market. The doctors majorly suggest oral medicines compared to injectables for the treatment of castrate-resistant prostate cancer. The market players have also engaged in marketing oral castrate-resistant prostate cancer therapeutics across the globe.

By therapy type, the castrate-resistant prostate cancer therapeutics market is classified into chemotherapy, hormonal therapy, immunotherapy, and radiotherapy. The hormonal therapy segment held a significant share in the market. Hormone therapy is often regarded as an androgen suppression therapy. The therapy aims to block or lower testosterone in the body to stop it from fueling prostate cancer cells' growth. Lowering androgen levels often makes prostate cancers grow sluggish. Based on drugs' functioning, hormonal therapy is of different types that include orchiectomy and medical castration. Medical castration involves the luteinizing hormone-releasing hormone (LHRH) agonist drugs that lower the amount of testosterone made by the testicles. Leuprolide, Goserelin, Triptorelin, and Histrelin are the commonly used LHRH agonist drugs available in the US market.

Geographical Penetration:

North America is the dominating region during the forecast period.

The North American market dominated with the largest market share in the global castrate-resistant prostate cancer therapeutics market in 2019. Factors augmenting the North American market's growth include a significant rise in the incidence and prevalence of prostate cancer and initiatives to create awareness for prostate cancer. For instance, Prostate Cancer Awareness Month is observed in the US and Canada in September every year. Also, the organizations offer grants for prostate cancer research.

Moreover, the Asia Pacific region is expected to grow at the highest CAGR in the global market owing to the high prevalence of prostate cancer in the region coupled with the rapidly evolving healthcare infrastructure in major economies such as China and India are fueling the growth of the castrate-resistant prostate cancer therapeutics market.

Competitive Landscape:

The castrate-resistant prostate cancer therapeutics market is dominated by a few companies. Some of the key players in the market's growth include Astellas Pharma, Inc., Bayer AG, Johnson & Johnson Services Inc., Pfizer Inc., Sanofi SA, GlaxoSmithKline PLC, Northwest Biotherapeutic, and Active Biotech AB, among others. The key players execute several growth strategies, such as product launches, acquisitions, and collaborations, which are estimated to boost the castrate-resistant prostate cancer therapeutics market growth globally. In May 2020, XTANDI was approved by the Japan Ministry of Health, Labour and Welfare (MHLW), which is used for the treatment of prostate cancer with distant metastasis. XTANDI is the oral androgen receptor signaling inhibitor for the treatment of prostate cancer patients with distant metastasis. In August 2022, FDA approved the expanded use of Buyer's prostate cancer drug. This approval is based on the results of Phase 3 ARASENS trial, which demonstrated a reduction in the risk of death by prostate cancer up to 32% in Nubeqa plus androgen deprivation therapy and docetaxel compared to ADT and docetaxel. Some major players follow acquisition strategies to expand their business. For instance, in June 2021, Bayer Acquired Noria and PSMA Therapeutics to expand its pipeline in prostate cancer. Through this acquisition, the Buyer obtained exclusive rights to a differentiated alpha radionuclide investigational compound based on actinium-225 and a small molecule directed towards prostate-specific membrane antigen (PSMA).

COVID-19 Impact:

Negative impact on the global castrate resistant prostate cancer therapeutics market.

The COVID-19 pandemic outbreak is expected to derail the growth of the castrate-resistant prostate cancer therapeutics market in 2020. The decline in the diagnosis rate due to the downfall in the number of hospital visits is the major factor that has negatively impacted the castrate-resistant prostate cancer therapeutics market growth in 2020.

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