Castrate Resistant Prostate Cancer Market Size, Share | 2030

Report Description

The global castrate-resistant prostate cancer market size was valued at USD 8.5 billion in 2019 and is estimated to expand at a CAGR of 8.4 % during the forecast period, 2021–2028. The growth of the market is attributed to the increasing prevalence of castrate-resistant prostate cancer, increased use of novel drugs, unhealthy lifestyle, demand for fast treatments and increased investments in R&D by key players.

Get Free Sample Report

When cells in the body begin to grow out of control, cancer develops. Cancer cells can develop in almost any organ of the body and spread to other parts of the body. Prostate cancer refers to a kind of cancer that affects the male reproductive system. Prostate cancer is usually slow-growing and stable, though it can occasionally migrate from the prostate (gland) to other parts of the body, such as the bone and lymph node. Prostate cancer has no symptoms at first, but in extreme cases, it can cause pain when urinating and problems during sexual intercourse. Prostate cancer that has become resistant to hormone treatment is known as castrate-resistant prostate cancer. Hormone therapy, commonly known as androgen deprivation therapy (ADT), reduces testosterone levels in the body significantly. The levels of testosterone are similar to those found in males who have had their testicles surgically removed. Castration is a term used to describe the surgical removal of the testes, though orchiectomy is a more formal term. Androgens are produced by the testicles, hence their removal lowers hormone levels. Male sex hormones are referred to as androgens. Prostate cancer normally progresses slowly when testosterone levels are low. Despite the drop in testosterone, men with castrate-resistant prostate cancer still have progressive cancer growth. If prostate cancer progresses and becomes castrate resistant, there are treatments that can help slow the disease's progression but do not cure it. One of the most important goals is to prevent the cancer from spreading. Cancer that spreads from the prostate gland to other regions of the body, such as the spine, lungs, and brain, is known as metastatic cancer. Genetic predisposition, aging population, unhealthy food, pharmaceutical exposure, and many sexual partners are all risk factors for castration-resistant prostate cancer. Prostate imaging, biopsy, tumour marker, and staging test are all used to diagnose castration-resistant prostate cancer. The fact that castration-resistant prostate cancer is resistant to medical and surgical therapy is crucial. Hormone therapy, immunological modulation, antiangiogenic treatment, and bone focused medicines are some of the additional therapeutic options on the market.

Market Trends, Drivers, Restraints, and Opportunities

• Increasing prevalence of castrate-resistant prostate cancer due to increasing patient of prostate cancer is projected to boost the market growth during the forecast period.
• Growing application of novel drug and new product development in pipeline are expected to propel the market growth in the coming years.
• Increasing advancements in innovative medication and demand for effective treatment is anticipated to drive the market growth in the forecast period.
• Lack of a standard treatment pattern and variable choice of treatments based on patient characteristics and physician preference are projected to hamper the market growth.
• Increased R&D investment and technological advancements are projected to offer lucrative opportunities for the market players.

Scope of the Report

The report on the global castrate-resistant prostate cancer market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Hormonal therapy segment is expected to account for a key share of the market
Based on therapy, the castrate-resistant prostate cancer market is segmented into Chemotherapy, Hormonal Therapy, Immunotherapy, and Radiotherapy. The hormonal therapy segment is expected to account for a key share of the market during the forecast period owing to the presence of a large number of authorized drugs, the launch of new drugs, and the expansion of product indications. Furthermore, the market for castrate-resistant prostate cancer is expected to grow due to the increasing development of innovative medications to address unmet requirements and existing treatment choices.

On the other hand, the immunotherapy therapy segment is anticipated to expand at a rapid pace during the forecast period owing to increasing prevalence of advanced prostate cancer. Chemotherapy is one of the treatment options for Castrate-resistant Prostate Cancer (CRPC), and it is utilized as the first treatment. Docetaxel (Taxotere) and prednisone are two authorized chemotherapy medicines.

Get Free Sample Report

North America is anticipated to dominate the market
On the basis of regions, the castrate-resistant prostate cancer market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market at an impressive CAGR during the forecast period. The regional market growth can be attributed to increasing prevalence of the castrate-resistant prostate cancer, the presence of key players, changing lifestyle and favorable reimbursement policies. The presence of regulatory bodies in North American countries is expected to accelerate the development of therapies. This is mostly due to the fact that these organizations play a critical role in raising public awareness regarding immunotherapy's effectiveness in cancer treatment.

On the other hand, Europe is expected to exhibit a rapid growth rate in the coming years owing to initiatives by both government and private institutions such as European Organization for Research and Treatment of Cancer (EORTC) and the European Medicines Agency (EMA), to develop unique programs focusing on multiple approaches in drug development.

On the other hand, Asia Pacific is expected to exhibit a rapid growth rate in the coming years owing to presence of key oncology companies, increased R&D investments in countries such as China and Japan. As a result, there has been a surge in the development of prostate cancer treatments. In addition, clinical trials in developing countries are less expensive than in developed countries.

Get Free Sample Report