The global Prostate Cancer Market is poised to grow at an exponential pace, primarily due to the mounting prevalence of prostate cancer, rapidly aging population and strong bolstering pipeline. The market would undergo a transformation during the analysis period, attributed by emerging product launches and line extensions opted for existing therapies. Limited treatment options along with a booming patient pool has generated the need for novel effective therapies with enhanced survival benefits and minimal adverse effects.
Enhanced diagnosis and incidence rates in developed economies largely drive the market growth. In addition, strong emerging pipeline, improved R&D investment by drug innovators and increasing awareness would further boost the market growth. Conversely, uncertain reimbursement policies and the high cost incurred due to combination therapies and prolonged treatment durations are expected to curtail the market growth.
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The unmet medical need for complete treatment would provide lucrative growth opportunities for innovators to address the untapped market potential in future. Furthermore, developing regions with rapid urbanization, sedentary lifestyle, rising awareness and improving healthcare access would offer attractive opportunities for innovators.
As the market mainly depends on improved overall survival, managing the drug lifecycle would be a key challenge for innovators to sustain in the prostate cancer market. Further, looming patent cliffs of leading drugs such as Zytiga, would translate into an opportunity for new entrants. Few of the key strategies adopted by leading players in the market are new product launch and acquisitions.
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In August 2013, Johnson and Johnson acquired Aragon Pharmaceuticals (developing the late-stage prostate cancer molecule, ARN-509). Recently, Astellas in collaboration with Medivation launched Xtandi in various countries for the treatment of metastatic CRPC.
The Global Prostate Cancer market segmentation is illustrated below:
Prostate Cancer Market By Type
Prostate Cancer Market By Therapy
Prostate Cancer Market By Geography
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