Current Trends in Prostate Cancer Therapeutics Market with Future Scope Analysis

The report on Prostate Cancer Therapeutics Market by Infinium Global Research analyzes over the period of 2017 to 2023. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in Global Prostate Cancer Therapeutics Market. It will help a lot of decision makers to develop strategies and find new opportunities in the Global Prostate Cancer Therapeutics Market.

The global market for prostate cancer therapeutics was valued at around USD 10.2 billion in 2016 and is expected to reach USD 19.8 billion by 2023, growing at a CAGR of around 9.9% during the forecast period of 2017 to 2023. Prostate cancer is a malignant tumor, or group of cancerous cells, which arises in the prostate gland, a gland in the male reproductive system located below the urinary bladder and in front of the rectum. Prostate cancer may be benign in some cases, but can turn metastatic and become life threatening. Prostate cancer generally occurs in men over the age of 50. Hereditary factors, diets that have too much red meat content, and environmental factors affecting the male hormones (androgen) impact the etiology of prostate cancer. According to the American Cancer Society’s estimates, approximately 161,360 new cases of prostate cancer and 26,730 deaths from prostate cancer are estimated in the United States in 2017. Other than skin cancer, prostate cancer is the most common cancer in American men. The prostate cancer market has a huge demand for novel drugs that address the unmet medical needs of the patients at an increased effectiveness and lower cost.

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Innovations in the development of new drugs and therapies, large number of new drugs entering into the market with FDA approval, high growth in hormone-refractory prostate cancer therapeutics market, and rise in base of aging population are the key driving factors for the growth of this market. In addition, rise in prevalence of prostate cancer, changing lifestyle habits of populations, increased patient’s healthcare awareness, and increasing demand for non-invasive therapies are further expected to propel the market growth in the coming years. Along with these driving factors, the market for prostate cancer is facing some challenges such as time consuming regulatory compliance and high cost of prostate drugs. However, the market for prostate cancer is likely to rise in the future due to the large number of ongoing innovations for the treatment of prostate cancer.

Companies profiled:

· Abbott Laboratories,

· AstraZeneca plc,

· Astellas Pharma Inc.,

· Bristol-Myers Squibb,

· Johnson & Johnson,

· Pfizer Inc.,

· Sanofi,

· AbbVie, Inc.,

· Teva Pharmaceuticals,

· Takeda Pharmaceuticals, etc.

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