PORTLAND, Oregon, July 9, 2015 /PRNewswire/ --
According to a new report by Allied Market Research, titled, "World Castration-Resistant Prostate Cancer (CRPC) Therapeutics - Market Opportunity and Forecast, 2014-2020", the global CRPC therapeutics market would generate a revenue of $9.5 billion by 2020, registering a CAGR of 9.1% from 2015 to 2020. Hormonal therapy segment spearheads among all the therapy types, governing around 4/5th of the global market value in 2014 and would sustain its market position throughout 2020.
The global CPRC therapeutics market has witnessed high growth in the past few years and would continue to grow at a consistent pace due to the high unmet clinical need associated with the disease. Large amount of drugs in pipeline, augmented patient awareness and untapped nmCRPC space would largely drive the market growth during the forecast period. On the other hand, introduction of novel treatments would be difficult as long as the Food and Drug Administration (FDA) and the European Medicines Agency (EMA) require an improvement in overall survival period. Moreover, lack of differentiation in mechanism of action among the approved and novel agents along with factors such as premium pricing and uncertain reimbursement policies would hinder the market growth during the analysis period.
To view the report, visit the website at https://www.alliedmarketresearch.com/castration-resistant-prostate-cancer-therapeutics-market
The market would gain traction in the emerging countries of Asia-Pacific and third-world countries such as Africa and Latin America. Asia Pacific and LAMEA region would collectively constitute around 1/3rd of the overall market by 2020. The large undiagnosed patient population, rapid urbanization, rising disposable income, improved government funding towards healthcare and growing awareness about prostate cancer would be the prime reasons responsible for the impressive market growth in these regions. The market growth would mainly rely on the novel breakthrough treatments with improved overall survival benefits. The survival benefit would be instrumental in governing the peak sales and market penetration of novel approved drugs.
Key findings of the study:
- North America CRPC market spearheads the regional CRPC markets and would continue to lead throughout the forecast period
- Radiotherapy segment is projected to grow at a CAGR of 24.5% throughout the forecast period, fastest among all CRPC therapy segments
- Immunotherapy segment is expected to grow more than threefold over the forecast period
- Asia Pacific CRPC market is expected to garner 1/5th of the overall market revenue by 2020
- European market is expected to expand more than two-fold as compared to North American market (within hormonal therapy segment) over the forecast period
- Countries like India and China holds immense future market potential as there is a higher count of undiagnosed CRPC patients.
The principal and key strategy adopted by the leading players in the market is product launch. In order to implement the strategy, acquisitions and partnerships/collaborations have been the key strategies adopted by the leading industry players. The key companies profiled in the report are Astellas Inc., Johnson & Johnson, Sanofi S.A, Dendreon Corporation, Bayer AG, and others.
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