Global Prostate Cancer Therapeutics Market Size to Reach $21.90 Billion by 2030
[London, United Kingdom] – [1st June 2023]?– The global prostate cancer therapeutics market size is expected to reach USD 21.90 billion by 2029, according to a new report by Data Bridge Market Research. The market is growing at a CAGR of 8.2% during the forecast period of 2023 to 2030. The rising prevalence of prostate cancer, the adoption of novel screening and diagnostic technologies, and government support for new therapies to cure prostate cancer are the major factors driving the market growth.
Prostate cancer is a type of cancer that occurs in the prostate gland, which is a walnut-sized gland in men. The prostate gland produces a fluid that is part of semen. Prostate cancer is the most common cancer diagnosed in men after skin cancer. It is estimated that about 1 in 9 men will be diagnosed with prostate cancer during their lifetime.
The market for prostate cancer therapeutics is segmented by drug type, treatment, distribution channel, and geography. Based on drug type, the market is segmented into hormonal therapy, chemotherapy, radiation therapy, and immunotherapy. Hormonal therapy is the most common treatment for prostate cancer. Chemotherapy is used to treat prostate cancer that has spread to other parts of the body. Radiation therapy is used to kill cancer cells in the prostate gland. Immunotherapy is a newer treatment that uses the body's own immune system to fight cancer.
Based on treatment, the market is segmented into newly diagnosed prostate cancer, biochemically recurrent prostate cancer, and metastatic prostate cancer. Newly diagnosed prostate cancer is the most common stage of prostate cancer. Biochemically recurrent prostate cancer is a stage of prostate cancer that occurs after treatment. Metastatic prostate cancer is a stage of prostate cancer that has spread to other parts of the body.
Based on distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Hospital pharmacies are the largest distribution channel for prostate cancer therapeutics. Retail pharmacies are the second-largest distribution channel for prostate cancer therapeutics. Online pharmacies are the fastest-growing distribution channel for prostate cancer therapeutics.
By geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the largest market for prostate cancer therapeutics. Europe is the second-largest market for prostate cancer therapeutics. Asia Pacific is the fastest-growing market for prostate cancer therapeutics.
The report also provides the competitive landscape for the prostate cancer therapeutics market. The report includes the market share of the major players in the market. The major players in the market are AbbVie Inc., Bayer AG, Johnson & Johnson Services, Inc., Merck & Co., Inc., Sanofi, and Teva Pharmaceutical Industries Ltd.
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