Prostate Cancer Market – Insights:
The global prostate cancer market is expected to grow with a healthy CAGR during the forecast period of 2017 to 2027 according to the latest study by Market Research Future. The rising incidences of cancer across the globe is expected to be a primary driver for market growth. The American Cancer Society has reported that one in nine men will be diagnosed with prostate cancer with older men being at highest risk.
Initiatives taken on by the government in collaboration with key players in the market have successfully raised awareness about the diseases and encouraged men to get regular check-ups leading to a higher rate of early diagnosis which has, in turn, acted as a major driver for market growth. Moreover, further growth is being driven due to the research and development activities taken on by these prominent market players to offer viable, effective treatment options. Evolving innovation in technologies for diagnosis and treatment are expected to drive market growth during the assessment period.
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The high cost of certain therapy options and unfavorable reimbursement policies are expected to pose challenges to the growth of the global prostate market. However, increasing healthcare expenditure and supportive government policies regarding research and development are expected to encourage further expansion of the market in the near future.
The global prostate market has been segmented on the basis of treatment, end-users, and region. By treatment, the market has been segmented into chemotherapy, surgery & radiation therapy, targeted therapy, biologic therapy, hormone therapy, vaccines and others. Further sub-segmentation is as follows:
- Chemotherapy – antimetabolites, anthracyclines, taxanes, and alkylating agents
- Targeted Therapy – tyrosine kinase inhibitors, monoclonal antibodies
- Hormone Therapy – estrogen-receptor modulators (SERMS), aromatase inhibitors, and others.
By end-users, the market has been segmented into hospitals, clinics, pharmacies, and others. By region, the market has been segmented into the Americas, Europe, the Asia-Pacific (APAC) and the Middle East and Africa.
The global market for prostate cancer is led by North America which a subsegment of The Americas. The region is expected to witness a steady CAGR during the forecast period. A well-developed healthcare, successful awareness initiatives and a strong presence of leading reputable market players are some factors responsible for growth in this region. Additionally, ongoing innovation and research in the North American region are expected to have a positive effect on the global market growth.
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Europe closely follows North America’s lead and is expected to grow moderately due to the presence of an established healthcare system and favorable government policies regarding R&D.
Growing awareness of prostate cancer on a global basis has set the Asia Pacific toward a healthy CAGR during the assessment period. The growing healthcare sector and demand for effective treatment is expected to motivate growth in the coming years. Moreover, the region has a vast patient population which is rapidly urbanizing leading to changing lifestyles and as a result a higher occurrence of chronic diseases like cancer, this motivated growth for the prostate cancer market in this region.
Eminent market players that contribute to the competitive landscape include OncBioMune Pharmaceuticals Inc., Endo Pharmaceuticals Inc., OncoGenex Pharmaceuticals Inc., TOLMAR Inc., Bayer Pharma AG, Tokai Pharmaceuticals, Inc., Progenics Pharmaceuticals, Inc.
Latest Industry News
A research team from Dundee University has used a shear wave elastography (SWE), a type of ultrasound, to detect the presence of prostate tumors. The method is accurate, highly affordable and non-invasive. This technology has already successfully been used to diagnose breast cancer and liver diseases and had to be modified with a special probe to apply the technology to prostate detection.
MDxHealth has announced that the company has signed a global licensing agreement with Philips for the exclusive rights to manufacture and market the recent phosphodiesterase-4D7 prostate cancer biomarker as a prognostic test.
TOC of Global Prostate cancer Market Research Report- Forecast To 2027:
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.2.2 ASSUMPTIONS & LIMITATIONS
1.3 MARKET STRUCTURE:
2 RESEARCH METHODOLOGY
2.1 RESEARCH PROCESS:
2.2 PRIMARY RESEARCH
2.3 SECONDARY RESEARCH:
3 MARKET DYNAMICS
3.4 MACROECONOMIC INDICATORS
4 MARKET FACTOR ANALYSIS
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