The Global Prostate Cancer Drugs Market Will Reach Around $10 By 2022

The global prostate cancer drugs market was valued at about $7 billion in 2018 and is expected to grow to around $10 billion at a growth rate of 8% through 2022.

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 962 million people aged 60 or above globally, accounting for 13% of the global population in 2017.

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.

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North America was the largest region in the prostate cancer drugs market in 2016. This region is expected to remain the largest during the next five years. The prostate cancer drugs market in Asia Pacific is forecasted to register the highest growth rate during 2018-2023.

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.

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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.

The prostate cancer drugs market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast growth globally and by geography.

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