The global Castrate Resistant Prostate Cancer Market is estimated to be valued at US$ 11.12 Bn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview
Castrate resistant prostate cancer occurs when prostate cancer grows or metastasizes even when the male sex hormone testosterone is suppressed either through chemical or surgical castration. Drugs used to treat castrate resistant prostate cancer help improve symptoms caused by advanced prostate cancer as well as slow disease progression.
Market key trends
One of the key trends in the castrate resistant prostate cancer market is the rising adoption of nanotechnology based drugs. Nanomedicines offer immense potential in treating castrate resistant prostate cancer. For example, nanotechnology based drug delivery systems help in targeted delivery of anticancer drugs minimally invasive manner to prostate cancer sites, reducing systemic side effects. This technology facilitates delivery of higher drug concentrations directly at the tumor site.
Segment Analysis
The global Castrate Resistant Prostate Cancer market is segmented based on treatment type, route of administration, and end-user. Based on treatment type, the market is segmented into chemotherapy, hormonal therapy, immunotherapy, and radiation therapy. The hormonal therapy segment currently dominates the market due to wide availability and adoption. This therapy works for a long period of time and provides better quality of life as compared to other therapies.
Key Takeaways
The global Castrate Resistant Prostate Cancer Market Growth is expected to witness high growth, exhibiting a CAGR of 8.2% over the forecast period, due to an increasing prevalence of prostate cancer across the world.
Regional analysis
North America dominated the global market and is expected to continue its dominance over the forecast period. This is attributed to the rising geriatric population in the US and Canada which are more prone to developing prostate cancer. Asia Pacific is expected to be the fastest-growing market owing to increased awareness regarding early diagnosis and the availability of advanced treatment options in countries like India, China and Japan.
Key players
Key players operating in the Castrate Resistant Prostate Cancer market are Sanofi, Johnson & Johnson Services Inc., Pfizer Inc., Astellas Pharma Inc., Bayer AG, Bristol Myers Squibb, Merck Sharp & Dohme, Novartis International AG, Eli Lilly & Company, and AstraZeneca plc. Sanofi dominates the market with their approved drug Taxotere which is indicated for use in combination with prednisone for treatment of patients with castration-resistant prostate cancer.
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Research Nester released a report titled “Non-Metastatic Castration Resistant Prostate Cancer Treatment Market: Global Demand Analysis & Opportunity Outlook 2029”which delivers detailed overview of the global non-metastatic castration resistant prostate cancer treatment market in terms of market segmentation by therapy type, application and region.Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.The non-metastatic castration resistant prostate cancer (nmCRPC) treatment market is projected to grow with a moderate CAGR during the forecast period, i.e., 2021-2029 on account of the increasing elderly population and the rising prevalence of prostate cancer.
The National Cancer Institute of the U.S. Department of Health and Human Services, in the U.S., the estimated new cases and number of deaths from prostate cancer in the year 2020 were 191,930 and 33,330, respectively.Get Exclusive Sample Report Copy Of This Report @ https://www.researchnester.com/sample-request-2884The market is segmented by therapy type into chemotherapy, immunotherapy, radiotherapy, hormonal therapy, and others.
Among these segments, the hormonal therapy segment is anticipated to hold the largest share by the end of 2021 in the nmCRPC treatment market as a result of the higher positive diagnosis rates of hormonal therapy than other available treatments.
This can be attributed to the presence of leading healthcare providers in the region, especially in the United States, who are extensively involved in the research and development for innovative cancer treatment procedures.Increasing Ageing Population and Prostate Cancer Prevalence to Drive Market GrowthAccording to the United Nations, it is estimated that by 2050, every one in six people will be 65 years or older, i.e., 16% of the total world population.
It has been observed that individuals whose age is above 65 years or more possesses a high risk of having prostate cancer.
However, the expensive cost of cancer therapies and lack of awareness in low income economies are some factors that are estimated to restrain market growth in the near future.Get Exclusive Sample Report Copy Of This Report @ https://www.researchnester.com/sample-request-2884This report also provides the existing competitive scenario of some of the key players of the global non-metastatic castration resistant prostate cancer treatment market which includes company profiling of Pfizer Inc. (NYSE: PFE), Astellas Pharma Inc. (TYO: 4503), Johnson & Johnson Health Care Systems Inc. (NYSE: JNJ), Bayer AG (ETR: BAYN), Orion Corporation (HEL: ORNBV), Merck Sharp & Dohme Corp. (NYSE: MRK), Clovis Oncology (NASDAQ: CLVS), Novartis AG (SWX: NOVN), and AstraZeneca PLC (LON: AZN).
