ALBANY, New York, March 31, 2017 /PRNewswire/ --
According to a new market report published by Transparency Market Research "Prostate Cancer Therapeutics Market: (By Therapy type - Hormone Therapy (Luteinizing Hormone-Releasing Hormone Analogs, Luteinizing Hormone-Releasing Hormone Antagonists, and Antiandrogens), Chemotherapy (Systemic Chemotherapy and Regional Chemotherapy), Biologic Therapy and Targeted Therapy; By Distribution Channel - Hospital Pharmacy, Retail Pharmacy, Online Sales and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016-2024", the global Prostate Cancer Therapeutics Market was valued at US$ 8,786.5 Mn in 2015 and is estimated to reach US$ 17.5 Billion by 2024 at a CAGR of 8.1% from 2016 to 2024.
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Prostate cancer is one of the most commonly occurring cancer among men after skin cancer, it can often be treated successfully using the different therapies. Prostate cancer is also one of the leading causes of cancer death among men. According to National Cancer Institute, the number of new cases of prostate cancer was 129.4 per 100,000 men per year. The number of deaths was 20.7 per 100,000 men per year. As per National Cancer Institute it is estimated that approximately 12.9% of men will be diagnosed with prostate cancer once in a lifetime. In 2013, there were an estimated 2,850,139 men living with prostate cancer in the United States. The estimated number of new prostate cancer cases was 180,890 in 2016. Prostate cancer occurs only in men, and it is more common in older men than younger men. It is more likely to occur in men with a family history of prostate cancer. Prostate cancer is most frequently diagnosed among men aged 65-74.
In terms of therapy type, the global prostate cancer therapeutics market has been categorized into hormone therapy, chemotherapy, biologic therapy and targeted therapy. Hormone therapy segment is categorized into luteinizing hormone-releasing hormone analogs, luteinizing hormone-releasing hormone antagonists, and antiandrogens. Similarly chemotherapy segment is categorized into systemic chemotherapy and regional chemotherapy. Hormone therapy is the most attractive segment, which is expected to held largest market share in 2024. The segment is expected to gain market share by 2024 and is projected to expand at a CAGR of 7.8% from 2016 to 2024 due to recently launched new products like Zytiga and Xtandi are gaining huge acceptance and having more demand globally. Also an expected launches of antiandrogen products would drive the growth of this segment. Targeted therapy segment is the second largest segment of the prostate cancer therapeutics market. The recent new launches and pipeline drugs in this segment would boost the growth of targeted therapy segment and this segment is expected to grow at significantly high CAGR during forecast period. Biologic therapy segment is anticipated to be the second fastest growing segment in global prostate cancer therapeutics segment. The factors like increasing prevalence of prostate cancer, launch of promising emerging therapies, as well as innovation in the development of new drugs & therapeutic biological products, and high growth in hormone-refractory prostate cancer drug due to lesser side effects are expected to drive the growth of global prostate cancer therapeutics market.
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Based on distribution channels, the segment is divided into hospital pharmacy, retail pharmacy, online sales, and others. The hospital pharmacy segment is anticipated to have a prominent value by 2024. The segment is witnessing projected growth due to increase in the prevalence of prostate cancer around the world, and hence the number of patients undergoing treatment for prostate cancer are also increasing. The retail pharmacy segment is expected to hold its market share during forecast period, attributed to the increasing number of retail store and increased investment in retail stores by the retail giants in developed as well as developing regions. The others segment consist of the mail order pharmacy and others such distribution channels. With ever expanding e-commerce industry and its increasing application in healthcare industry, online sale of prostate cancer therapeutics products is likely to increase during forecast period. The mobile based applications for ordering the medicines is very convenient to the patients hence its use is increasing recently.
The major players in the global Prostate Cancer Therapeutics Market include Amgen, Inc., Johnson & Johnson (Janssen Biotech, nc.), Pfizer, Inc., AstraZeneca, AbbVie, Inc., Bayer AG, Ipsen Group, Sanofi, Endo Pharmaceuticals, Inc., Dendreon Corporation (Sanpower Group Co. Ltd.) and others
This review is based on a TMR report, titled "Prostate Cancer Therapeutics Market (Therapy Type - Hormone Therapy (Luteinizing Hormone-Releasing Hormone Analogs, Luteinizing Hormone-Releasing Hormone Antagonists, and Antiandrogens), Chemotherapy (Systemic Chemotherapy and Regional Chemotherapy), Biologic Therapy, and Targeted Therapy; Distribution Channel - Hospital Pharmacy, Retail Pharmacy, and Online Sales) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024."
The report segments the global prostate cancer therapeutics market as:
Global Prostate Cancer Therapeutics Market, by Therapy
- Hormone Therapy
- Luteinizing Hormone-Releasing Hormone Analogs
- Luteinizing Hormone-Releasing Hormone Antagonists
- Systemic Chemotherapy
- Regional Chemotherapy
- Biologic Therapy
- Targeted Therapy
Global Prostate Cancer Therapeutics Market, by Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Sales
Global Prostate Cancer Therapeutics Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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