Prostate Cancer Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2030

The report on the global prostate cancer market provides qualitative and quantitative analysis for the period from 2021-2030. The global prostate cancer market was valued at USD 12.32 billion in 2022 and is expected to reach USD 29.52 billion in 2030, with a CAGR of 10.0% during the forecast period 2023-2030. The study on prostate cancer market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2021-2030.

Demand for prostate therapies is increasing as prostate cancer cases are becoming more common. For instance, Prostate cancer is the most common cancer among men, except for skin cancer. In 2023, an estimated 288,300 men in the United States will be diagnosed with prostate cancer. Worldwide, an estimated 1,414,259 people were diagnosed with prostate cancer in 2020. It is the fourth most diagnosed cancer in the world. Rising healthcare expenditure and reimbursement support positively impact the market of Prostate cancer treatment are the factors projected to propel the market within the forecast period. The Federal Government annually invests millions of dollars in prostate cancer research through the Prostate Cancer Research Program (PCRP) and the National Institutes of Health (NIH). NCI Funded Research Portfolio (NFRP) has over $255 million allocated for prostate cancer research.

The global prostate cancer market is bifurcated By Drug Class, End User, and Distribution Channel. By Drug Class the segment is further segmented into Hormonal Therapy, Chemotherapy, Immunotherapy, Targeted Therapy, and others. The hormonal therapy segment is anticipated to dominate the market growth during the forecast period. The growth of the segment is attributed to the various advantages as Hormone therapy is also called androgen suppression therapy. The goal of this treatment is to reduce levels of male hormones, called androgens, in the body, or to stop them from fueling prostate cancer cell growth. Androgens stimulate prostate cancer cells to grow. Furthermore, in 85% to 90% of cases of advanced prostate cancer, hormone therapy can shrink the tumor. Hormone therapy may be used to reduce or prevent symptoms in men with prostate cancer who are not able to have surgery or radiation therapy.

The global prostate cancer market is segmented into Asia Pacific, North America, Europe, the Middle East & Africa, and South America. North America is predicted to be the fastest-growing region within the global market share. Since the disease is becoming more common there is a great need for prostate cancer therapy items in the area. However, growth in North America is responsible for the launch of promising new medications in the biologics and hormone therapy sectors. The anticipated launch of a few pipeline medications is anticipated to fuel the local market during the projection period. For instance, the Pluvicto medication, which will be used to treat adult patients with prostate cancer, received FDA approval for an advanced accelerator application in March 2022. Over the course of the projection period, the market is expected to be driven by a solid pipeline and government backing for innovation.

Report Findings

1) Drivers

• Demand for prostate therapies is increasing as prostate cancer cases are becoming more common this factor drives the prostate cancer market.
• Rising healthcare expenditure and reimbursement support positively impact the market of prostate cancer treatment.

2) Restraints

• High cost of treatment, complications, and side effects caused due to treatment can hamper the prostate cancer market growth.

3) Opportunities

• The emergence of strong pipeline drugs and the presence of new prostate cancer treatments will escalate the growth rate of the prostate cancer market.

Research Methodology

A) Primary Research

The primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents.

The primary respondents are approached include

1. Key Opinion Leaders
2. Internal and External subject matter experts
3. Professionals and participants from the industry

The primary research respondents typically include

1. Executives working with leading companies in the market under review
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/country managers
5. Vice President level executives.

B) Secondary Research

Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. Each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.

The secondary sources of the data typically include

1. Company reports and publications
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies

Segment Covered

The global prostate cancer market is segmented on the basis of drug class, distribution channel, and end user.

The Global Prostate Cancer Market by Drug Class

• Hormonal Therapy
• Immunotherapy
• Targeted Therapy
• Others

The Global Prostate Cancer Market by Distribution Channel

• Hospital Pharmacies
• Drug Store & Retail Pharmacies
• Online Pharmacies
• Others

The Global Prostate Cancer Market by End User

• Clinic
• Hospital
• Others

Company Profiles

The companies covered in the report include

• Pfizer Inc.
• AbbVie Inc.
• AstraZeneca
• Johnson & Johnson Services, Inc.
• Merck & Co., Inc.
• Sanofi
• Bayer AG
• Clovis Oncology, Inc.
• Eli Lilly and Company
• Astellas Pharma Inc.

What does this Report Deliver?

1. Comprehensive analysis of the global as well as regional markets of the prostate cancer market.
2. Complete coverage of all the segments in the prostate cancer market to analyze the trends, developments in the global market and forecast of market size up to 2030.
3. Comprehensive analysis of the companies operating in the global prostate cancer market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.