Changing Trends in Prostate Cancer Treatment Market Outlook: Ken Research
The Prostate cancer is a form of cancer that advances in the male reproductive system. It is asymptomatic, and develop slowly at its earliest stages. In addition, it is the second most common cancer in the male after skin cancer. In case of cure, the initial stage of the prostate cancer are cured by the radiation therapy, and for the end stages, where tumor has blowout beyond the prostate gland, drug therapies are suggested. The drug therapies involve the chemotherapy, biological therapy, and hormone therapy. Xtandi and Zytiga are the foremost therapeutic drugs that are utilized for the cure of prostate cancer.
According to the report analysis, ‘Prostate Cancer Treatment Market by Drug Type (Chemotherapy, Biological Therapy, Hormone Therapy, and Others) and Distribution Channel (Hospital Pharmacies, Drug Stores & Retail Pharmacies, and Online Pharmacies): Global Opportunity Analysis and Industry Forecast, 2019-2026’ states that in the prostate cancer treatment market there are several corporates which presently operating more effectively for dominating the greatest value of market share and leading the highest market growth during the near duration while accepting the policies of profit making, advancing the applications of the prostate cancer treatment, developing the specifications of the technologies, employing the young work force, analyzing and studying the strategies of the government and competitors, spreading the awareness related to the features of such, and decreasing the linked price includes Astellas Pharma Inc., AstraZeneca plc, Bayer AG, Bristol-Myers Squibb Company, F. Hoffmann-La Roche AG, Ferring Pharmaceuticals Inc., GlaxoSmithKline Plc, Ipsen Pharma, Johnson & Johnson, Takeda Pharmaceutical Company Ltd and several others.
Whereas, the worldwide prostate cancer treatment market was worth at USD 6,887 million in 2018, and is predicted to reach USD 9,904 million by 2026, dominating a CAGR of 4.6% from 2019 to 2026. However, substantial increase in pervasiveness of prostate cancer, increase in the geriatric population, surge in awareness amongst the people regarding the treatment of prostate cancer, augment in the demand for prostate cancer treatment products, and growth in the uptake of hormonal agents in non-metastatic castration resistant (nmCRPC) & metastatic hormone nave (mHNPC) prostate cancer settings are the foremost factors that influence the growth of the prostate cancer treatment market. Not only has this, convenience of fresh prostate cancer treatments, robust emerging pipeline drugs, developed R&D investment by drug innovators, improved diagnosis & incidence rates in developed economies, augment in the generic products, and increase in the pharmaceutical industries & diagnostic centers around the globe underwrite toward the growth of the market. Meanwhile, the prolonged treatment durations and poor requirement for prostate cancer treatment drugs in underdeveloped countries are projected to restrict the growth of the market.
Though, the Asia-Pacific presents lucrative opportunities for the foremost players operating in the prostate cancer treatment market, due to growth in awareness concerned prostate cancer treatment and growth in implementation of the prostate cancer treatment products. Moreover, speedy advancement in the healthcare infrastructure, increase in number of hospitals equipped with advanced medical facilities, advancing the R&D sector, growth in the healthcare reforms, and technological advancements in the field of healthcare further underwrite to the market growth. Therefore, in the near years, it is projected that the market of prostate cancer treatment will be growing more effectively over the forthcoming years.
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Ankur Gupta, Head Marketing & Communications