Prostate Cancer Therapeutics Market is Likely to Clock a CAGR of 8.19% Between 2017 – 2024

The global Prostate Cancer Therapeutics Market is highly consolidated with a handful of large players, namely Pfizer Inc., Janssen Biotech Inc., and Amgen that hold majority market share, says Transparency Market Research (TMR) in a new market study. These companies are engaged in research and development, manufacture, and commercial availability of new drugs. Acquisitions and strategic alliances are some other growth strategies adopted by key players in the prostate cancer therapeutics market. For example, in 2016, Pfizer Inc. announced the successful completion of acquisition of Medivation Inc., the latter’s portfolio includes Xtandi – a leading hormone therapy in the U.S.

According to estimates presented by TMR, the global prostate cancer therapeutics market is likely to clock a CAGR of 8.19% between 2017 and 2024 vis-à-vis revenue. At this rate, the opportunities in the market are expected to be worth US$17,535.3 mn by the end of 2024 from US$10,107.6 mn in 2017. By therapy type, hormone therapy is currently most attractive and is predicted to stay this way over the forecast period. Hospital pharmacy is the leading distribution channel segment as it stocks various medicines needed at different stage of treatment.

Majorly fuelling the global prostate cancer therapeutics market is rising incidence of prostate cancer. As per data published by Cancer Research – a U.K. based government institute, 11,287 prostate cancer deaths were reported in the country in 2014. Prostate cancer is a serious health condition among men that impacts quality of life to a high degree. Although the real cause of prostate cancer remains unknown, obesity and past history of cancer are some key factors associated with the condition. Regular screening, early diagnosis, and advances in medical science have enabled increased survival rate of prostate cancer.

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Advances in medical science leading to launch of promising treatment options is fuelling the prostate cancer therapeutics market. Various diagnostic techniques have enabled detection of prostate cancer at an early stage. Measurement of prostate-specific antigen (PSA) has enabled early detection of prostate cancer. Some other promising therapies in phase II and phase III clinical trials for prostate cancer detection include hormonal agents, cytotoxic agents, and other antiprostate-specific membrane antigen therapies.

Furthermore, as per the Mayo Foundation for Medical Education and Research, a combination of anti-cytotoxic T-lymphocyte-associated antigen and hormonal therapies can stir targeted immune response against prostate tumors.

Development of new drugs and novel therapeutic biological products are aiding the prostate cancer therapeutics market. Prominent players are aggressively engaged in R&D for developing novel therapeutics to enhance survival rate of prostate cancer patients. At present, several molecular agents are in early phase clinical trials for the treatment of prostate cancer. In addition, high adoption of hormone-refractory prostate cancer drug due to fewer side effects is providing new prospects to prostate cancer therapeutics market.

Prostate Cancer Therapeutics Market: Promising New Therapies to Auger the Global Market Growth

Prostate cancer is a serious health issue among men and has a large socioeconomic impact on the society. It is the most common cancer diagnosed among men in developed regions, while it is the fourth-most common cancer diagnosed globally. Routine screening, early diagnosis, and recent treatment options have enabled increased survival of prostate cancer patients. Prostate cancer is an abnormal and uncontrolled growth of cells in prostate gland of a male individual.

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Approximately 75% of prostate cancers are developed sporadically, in which genetic changes occur after birth. Although, the real cause of prostate cancer is largely unknown, some of the prime factors associated with the disease include obesity, overweight, and past history of certain cancers. The global prostate cancer therapeutics market was valued at US$8.78 bn in 2015. Rising at a CAGR of 8.1% between 2016 and 2024, the market is expected to reach US$17.53 bn by the end of 2025. The overall market is segmented on the basis of therapy type, and distribution channel segments.

Rise in geriatric Population to Propel the Growth of Prostate Cancer Therapeutics Market

Lessened morbidity, particularly in created countries, has brought about the ascent in ageing population and is viewed as a main source fuelling the frequency of prostate cancer. As per a study directed by the (PCF) Prostate Cancer Foundation, a greater part of prostate cancer patients are analyzed in men maturing above 65 years. Consequently, stationary way of life and persistent ascent in maturing populace is anticipated to be the major factors the worldwide prostate cancer therapeutics market. The increased occurrence of heftiness additionally builds the danger of prostate cancer, along these lines making open doors in the global market.

Other than this, the dispatch of promising rising treatments holds guarantee for the market’s development. Different rising analytic advancements have empowered detecting prostate cancer at a beginning time. Such encouraging novel treatments in stage II and III stage trials are required to support development open doors in the global market after launch. Moreover, advancements in the improvement of effective and affordable therapeutics are offering impulse to the worldwide prostate cancer therapeutics market.

Increased Cost of Cancer Medication to Hamper the Global Market Growth

On the drawback, the soaring cost of cancer therapeutics and treatment is conflicting with the market requirement. The prostate cancer treatment demands different treatments, for example, hormonal treatment, chemotherapy, and natural and focused on treatment. Be that as it may, inferable from increased cost of focused treatments, development possibilities for the market are being bargained with. Low awareness regarding innovative progressions and additionally growing cost of these exceptional medicines are hindering the market’s direction especially in creating countries. A noteworthy segment of male populace, particularly in immature nations is as yet oblivious about prostate cancer. Thus a substantial number of cases whose disease is left undiscovered.

View Report @ https://www.transparencymarketresearch.com/prostate-cancer-therapeutics-market.html

Prostate Cancer Therapeutics Market: Promising New Therapies to Auger the Global Market Growth

Prostate cancer is a serious health issue among men and has a large socioeconomic impact on the society. It is the most common cancer diagnosed among men in developed regions, while it is the fourth-most common cancer diagnosed globally. Routine screening, early diagnosis, and recent treatment options have enabled increased survival of prostate cancer patients. Prostate cancer is an abnormal and uncontrolled growth of cells in prostate gland of a male individual.

Get Report Sample @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=6562

Approximately 75% of prostate cancers are developed sporadically, in which genetic changes occur after birth. Although, the real cause of prostate cancer is largely unknown, some of the prime factors associated with the disease include obesity, overweight, and past history of certain cancers. The global prostate cancer therapeutics market was valued at US$8.78 bn in 2015. Rising at a CAGR of 8.1% between 2016 and 2024, the market is expected to reach US$17.53 bn by the end of 2025. The overall market is segmented on the basis of therapy type, and distribution channel segments.

Rise in geriatric Population to Propel the Growth of Prostate Cancer Therapeutics Market

Lessened morbidity, particularly in created countries, has brought about the ascent in ageing population and is viewed as a main source fuelling the frequency of prostate cancer. As per a study directed by the (PCF) Prostate Cancer Foundation, a greater part of prostate cancer patients are analyzed in men maturing above 65 years. Consequently, stationary way of life and persistent ascent in maturing populace is anticipated to be the major factors the worldwide prostate cancer therapeutics market. The increased occurrence of heftiness additionally builds the danger of prostate cancer, along these lines making open doors in the global market.

Other than this, the dispatch of promising rising treatments holds guarantee for the market’s development. Different rising analytic advancements have empowered detecting prostate cancer at a beginning time. Such encouraging novel treatments in stage II and III stage trials are required to support development open doors in the global market after launch. Moreover, advancements in the improvement of effective and affordable therapeutics are offering impulse to the worldwide prostate cancer therapeutics market.

Increased Cost of Cancer Medication to Hamper the Global Market Growth

On the drawback, the soaring cost of cancer therapeutics and treatment is conflicting with the market requirement. The prostate cancer treatment demands different treatments, for example, hormonal treatment, chemotherapy, and natural and focused on treatment. Be that as it may, inferable from increased cost of focused treatments, development possibilities for the market are being bargained with. Low awareness regarding innovative progressions and additionally growing cost of these exceptional medicines are hindering the market’s direction especially in creating countries. A noteworthy segment of male populace, particularly in immature nations is as yet oblivious about prostate cancer. Thus a substantial number of cases whose disease is left undiscovered.

View Report @ https://www.transparencymarketresearch.com/prostate-cancer-therapeutics-market.html