Prostate Cancer Therapeutics Market Worth $21.5 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, Oct. 25, 2022 /PRNewswire/ -- The global prostate cancer therapeutics market size is expected to reach USD 21.5 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.2% from 2022 to 2030. The growth of the market is attributed to the escalating prevalence of prostate cancer which in turn increases the demand for novel therapeutics.

Key Industry Insights & Findings from the report:

• By drug class, the hormonal therapy segment held the largest share and is expected to be the fastest-growing segment due to the availability and efficient mechanism of action for treating the diseased condition completely.
• Xtandi drug is expected to grow at the fastest rate over the forecast period due to the high adoption of the drug and usage of the drug for longer periods of time.
• North America dominated the market in 2021 and is anticipated to be the fastest-growing region owing to an increase in the disease's prevalence, and a strong need for prostate cancer therapeutic products in the region.
• Key market players operating in the market are focusing on developing novel products to meet the demand and provide efficient treatment options.

Read full market research report for more Insights, "Prostate Cancer Therapeutics Market Size, Share & Trends Analysis Report By Drug Class (Zytiga, Gonax, Lupron, Zoladex, Decapeptyl, Eligard, Vantas, Casodex, Xtandi), By Distribution Channel, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Prostate Cancer Therapeutics Market Growth & Trends

A surge in government funding and increased public and private sector initiatives to enhance knowledge, and awareness about the availability of medicines amongst the public are projected to accelerate market growth. Furthermore, a rising preference for online drug purchasing over traditional methods, an increase in the number of internet users, and a rise in awareness regarding online pharmacies are expected to enhance the treatment adoption rate.

As per the American Cancer Society, in 2022, prostate cancer is the second leading cause of death in the male population of the U.S. Around one man in every 41 dies from prostate cancer. Although prostate cancer is a deadly disease, the mortality rate from the disease is low. The availability of a supportive regulatory landscape is expected to drive the adoption of novel products such as 177Lu-PSMA-617, which is precision medicine for patients that have not been cured with multiple rounds of treatment. The product received FDA approval in March 2022 for the treatment of mCRPC.

Targeted and biological therapy, chemotherapy, and hormonal therapy are some of the methods used to treat the condition. The high cost of targeted therapies and other immunotherapies is projected to act as a significant limitation on the global market. Low awareness of technological advancements in the therapeutic area in developing countries is expected to become a restrain for the market.

New trials are being conducted by institutes such as MRC Clinical Trials Unit at UCL. A June 2022, publication by the institute highlights secondary cancer tumor type of prostate cancer patients are benefited more from the use of chemotherapy such as docetaxel with an enhanced survival rate of 39%. These studies are creating a more effective way of providing a personalized medicine approach to prostate cancer patients so that they experience fewer side effects.

Prostate Cancer Therapeutics Market Segmentation

Grand View Research has segmented the global prostate cancer therapeutics market based on drug class, distribution channel, and region:

Prostate Cancer Therapeutics Market - Drug Class Outlook (Revenue, USD Million, 2018 - 2030)

• Hormonal Therapy
• Luteinizing Hormone-Releasing Hormone (LHRH) Antagonists
• Zytiga
• Gonax
• Luteinizing Hormone-Releasing Hormone (LHRH) Agonists
• Lupron
• Zoladex
• Eligard
• Decapeptyl
• Vantas
• Others
• Anti-Androgen
• Xtandi
• Casodex
• Chemotherapy
• Taxotere
• Jevtana
• Immunotherapy
• Provenge
• Targeted Therapy
• Xofigo
• Others

Prostate Cancer Therapeutics Market - Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Hospital Pharmacies
• Drug Stores & Retail Pharmacies
• Online Pharmacies

Prostate Cancer Therapeutics Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Asia Pacific
• Japan
• China
• India
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

List of Key Players of Prostate Cancer Therapeutics Market

• Johnson & Johnson Services, Inc.
• Astellas Pharma Inc.
• Eli Lilly and Company
• Sanofi
• Ipsen Pharma
• Bayer AG
• AstraZeneca
• Valeant Pharmaceuticals International, Inc.
• Merck & Co., Inc.
• Pfizer Inc.

Check out more related studies published by Grand View Research:

• Castrate-resistant Prostate Cancer Market - The global castrate-resistant prostate cancer market size is expected to reach USD 16.2 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.4% from 2020 to 2027. This growth is driven by the rising global burden of castrate-resistant prostate cancer and unhealthy lifestyle.
• Cancer Immunotherapy Market - The global cancer immunotherapy market is expected to reach USD 196.45 billion by 2030, registering CAGR of 7.2% during the forecast period, according to a new report by Grand View Research, Inc. The rising adoption of the immunotherapy over other therapy options for cancer owing to its targeted action is anticipated to increase the adoption during the forecast period.
• Hormone Replacement Therapy Market - The global hormone replacement therapy market is expected to reach USD 35.79 billion by 2030, according to a new study by Grand View Research Inc. expanding at a CAGR of 6.4% from 2022 to 2030. The growth in the hormone replacement therapy market is largely attributable to the rising prevalence of hormonal disorders coupled with technological advancements in drug delivery systems.

Browse through Grand View Research's Pharmaceuticals Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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