New York, March 16, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Prostate Cancer Drugs Global Market Report 2022" - https://www.reportlinker.com/p06245030/?utm_source=GNW
09 billion in 2021 to $17.64 billion in 2022 at a compound annual growth rate (CAGR) of 9.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $23.95 billion in 2026 at a CAGR of 8.0%.
The prostate cancer drugs market consists of sales of various drugs used for the prevention and treatment of prostate cancer.Prostate cancer is one of the most common types of cancer caused due to uncontrollable development of cells in the prostate gland in men that produces the seminal fluid that nourishes and transports sperm.
Some of the possible treatments for prostate cancer include hormonal therapy, chemotherapy, immunotherapy and targeted therapy.
The different types of prostate cancer drugs are hormone sensitive prostate cancer and hormone refractory prostate cancer.Hormone-refractory prostate cancer (HRPC) is a kind of prostate cancer that no longer responds to hormone therapy, even newer treatments.
The different types of therapies include hormonal therapy, chemotherapy, immunotherapy, targeted therapy and involves various sectors such as hospitals, clinics, others.
North America is the largest region in the prostate cancer drugs market in 2021.Middle East is expected to be the fastest growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing male geriatric population is a major driver for the prostate cancer drugs market.Prostate cancer is one of the most common types of cancer in men aged above 60.
According to the United Nations (UN), there were around 703 million people aged 65 or above globally, accounting for 13% of the global population in 2019. The American Cancer Society’s statistics for prostate cancer in the USA states that about 6 prostate cancer cases in 10 are diagnosed in men aged 65 or above, and it is rare for men aged less than 40.
Recurrent/non-responsive prostate cancer is major restraint for the growth of the prostate cancer drugs market.This is because recurrent/non-responsive prostate cancer cells lead to recurrence or spread of the cancer after an initial treatment.
Prostate cancer can recur locally in the tissue next to the prostate, the surrounding lymph nodes in the pelvis or lymph nodes outside this area, tissues next to the prostate (such as the muscles that help control urination, the rectum, or the wall of the pelvis).The cancer can also travel through the bloodstream and recur in bones or other organs.
According to the American Society of Clinical Oncology (ASCO), around 50% to 95% of men in the US with high-risk prostate cancer experience recurrence after localized treatment.
The use of combination therapy to treat prostate cancer is an emerging trend in the market.This is mainly because in some cases of prostate cancer, monotherapy has not been effective for the patients.
In this regard, companies in the prostate cancer drugs market are investing more in combination therapy for the treatment of prostate cancer.For example, Pfizer announced the results of its Phase 3 PROSPER trial in patients with non-metastatic (M0) Castration-Resistant Prostate Cancer (CRPC), which show that the use of XTANDI (enzalutamide) in combination with androgen deprivation therapy (ADT) significantly reduced the risk of developing metastases or death by 71% compared to using ADT alone.
Similarly, other combination therapies such as a combination of radiation therapy and androgen deprivation therapy for men with recurrent prostate cancer, and using chemotherapy drug docetaxel (Taxotere) along with ADT are also being used to treat prostate cancer.
The prostate cancer drugs market in the USA is regulated by the FDA which is responsible for approval of new drugs and lays down regulations related to treatment of prostate cancer.For instance, the FDA approved Erleada (apalutamide) for the treatment of prostate cancer that has not spread (non-metastatic), but continues to grow despite treatment with hormone therapy (castration-resistant).
This was the first case of FDA-approved treatment for non-metastatic, castration-resistant prostate cancer, and more such approvals are expected to follow in the future. Hence, the regulatory scenario related to prostate cancer drugs will encourage more drug manufacturers to enter the market.
In June 2021, Bayer, a Germany based pharmaceutics company acquired Noria Therapeutics Inc. (Noria) and PSMA Therapeutics Inc for an undisclosed amount. With this acquired Bayer will gain exclusive access to a specialized alpha radionuclide investigational drug built on actinium-225 and a small molecule aimed against prostate-specific membrane antigen. PSMA Therapeutics Inc. is a US-based company that specializes in prostate-specific membrane antigen research and Noria Therapeutics Inc. is a radiotherapy firm focused on creating alpha-emitting radiopharmaceuticals for targeted therapeutic and imaging applications in oncology.
The countries covered in the prostate cancer drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06245030/?utm_source=GNW
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