Global Prostate Cancer Therapeutics MarketRs:4100
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Global Prostate Cancer Therapeutics Market was valued at US$ 9.21 Bn in 2017 and is expected to reach US$ 16.21 Bn by 2026, at a CAGR of 7.33 % during a forecast period.
Global Prostate Cancer Therapeutics Market
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding prostate cancer therapeutics market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focus on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies and regional presence. The report also provide PEST analysis, PORTER’s analysis, SWOT analysis to address question of shareholders to prioritizing the efforts and investment in near future to emerging segment in prostate cancer therapeutics market.
The prostate is an exocrine gland found in men, placed within the groin space just under the bladder and before of the body part. In prostate cancer, cells inside the gland mutate change into cancer cells. Additional, these affected cells begin killing the opposite healthy gland cells, and might unfold to the opposite body parts. Prostate cancer is that the second leading reason for new cancer cases in men globally and therefore the sixth leading cause for cancerous death in men.
Innovations within the development of recent drugs and therapies, sizable amount of recent drugs stepping into the market with FDA approval, high growth in hormone-refractory glandular cancer medicine market, and rise in base of aging population are key driving factors for the expansion of this market. Additionally, rise in prevalence of glandular cancer, dynamic fashion habits of populations, increased patient’s attention awareness, and increasing demand for non-invasive therapies are expected to push the market growth in the forecast period. Alongside these driving factors, the marketplace for prostate cancer is facing some challenges like time overwhelming regulative compliance and high price of prostate drugs. However, the marketplace for prostate cancer is probably going to rise in the forecast period because of the large number of current innovations for the treatment of prostate cancer.
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Based on Product Type, Hormone therapy, among product type segments in the prostate cancer therapeutics is highly attractive and is likely to stay this way in the forecast period and is expected to remain dominant throughout the forecast timeframe. Hormonal therapy is also called as androgen deprivation therapy (ADT). The hormone therapy helps to reduce the level of androgens that are male hormones which fuel the growth of cancer. Suppressing the hormone level, the drugs help to decrease the growth of cancer of prostate. The immunotherapy drugs for prostate cancer are projected to register the highest CAGR globally.
In terms of end-user, they are segregated as hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy accounted for the largest share in the global prostate cancer therapeutics market in 2017. The growing number of the patient pool for medical care in hospitals is the leading factor contributing towards the high share of segment in the global market.
Geographically, North America holds major share in the prostate cancer therapeutics market due to high number of prostate cancer patients whereas APAC and South America are likely to be grow moderately in the prostate cancer therapeutics market due to rising awareness about the disease. Europe is expected to grow at significant rates owing to increase in prevalence rates and developed healthcare infrastructure facilities.