Global Prostate Cancer Market - 2023-2030

Global Prostate Cancer Market - 2023-2030

The Global Prostate Cancer Market reached US$ 11.7 billion in 2022 and is projected to witness lucrative growth by reaching US$ 21.6 billion by 2030. The Prostate Cancer Market is expected to exhibit a CAGR of 8.1% from 2023 to 2030.

Prostate cancer is the second-most typical cancer arising in males, behind skin cancer. The growing prevalence of prostate cancer, raising awareness concerning early diagnosis, and the availability of sophisticated methods present in the medical domain are driving market growth.

The increasing product introductions also drive the global prostate cancer market during the forecast period. For instance, in March 2022, the US FDA authorized Novartis, a Swiss-American multinational pharmaceutical corporation's Pluvicto (lutetium Lu 177 vipivotide tetraxetan) indicated for the therapy of adult individuals suffering from a specific kind of progressive cancer named prostate-specific membrane antigen–positive metastatic castration-resistant prostate cancer.

Market Dynamics

The Growing Cases of Prostate Cancer are Driving the Global Prostate Cancer Market in the Forecast Period

The growing incidences of prostate cancer drive the global market during the forecast period. For instance, according to the American Society of Clinical Oncology (ASCO), prostate cancer, besides skin cancer, is the most typical cancer in males.

In 2023, an estimated 288,300 males in the United States will be detected with prostate cancer. While, globally, an estimated 1,414,259 individuals were seen with prostate cancer in 2020. Prostate cancer is the fourth most typically detected cancer in the world.

The Increasing Initiatives are Providing the Global Prostate Cancer Market with Prospective Growth Opportunities

The increasing initiatives to support prostate cancer patients present the Global Prostate Cancer Market with lucrative growth opportunities in the upcoming years. For instance, in April 2022, the Milton and Carroll Petrie Department of Urology at Mount Sinai established the Mount Sinai Robert F. Smith Mobile Prostate Cancer Screening Unit to help prostate health in the Black community.

COVID-19 Impact Analysis

The COVID-19 analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it to pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Russia-Ukraine War Impact Analysis

As the warfare in Ukraine released disorder and uprooted millions of individuals, numerous Ukrainians had to escape to the western region of the nation and became refugees in Europe and outside. Among them were individuals with prostate cancer, who encountered a fierce one-two force of extreme sickness and exile.

And while cancer hospitals in Ukraine are being deserted or even attacked, Ukrainian patients across the boundary, struck by sanctions and inflation, even encounter an indefinite future for their care.

Global Recession Impact Analysis

The healthcare industry is not completely immune to recession, as healthcare institutions thought firings and employment during past financial downturns. That stated, the industry does cope finer than other sectors because of its essential nature. However, the danger of recession threatens the market as inflation persists increasing.

The elevated extent of tension about the persistent recession as the high inflation in developed countries worldwide has transpired in a general cost surge over the past two years. The cumulatively deteriorating general purchasing control is anticipated to affect growing economies particularly and is considered helpful in numerous ways.

Artificial Intelligence Impact Analysis

Artificial intelligence positively impacts the Global Prostate Cancer Market during the forecast period, owing to its increased application in prostate cancer diagnosis and drug development. For instance, ai models can assist in diagnosing and grading cancer aggressiveness on non-invasive radiology pictures (Ultrasound and MRI), and on histopathology images obtained via prostate biopsy.

Segment Analysis

The Global Prostate Cancer Market is segmented based on therapy type, end-user, and region.

The Chemotherapy Segment is Estimated To Hold a 30.6% Share of the Global Market.

The chemotherapy segment is estimated to hold about 30.6% of the global prostate cancer market owing to the increasing research development in the part. For instance, in February 2023, investigators from Sanford Burnham Prebys, a non-profit medical research institute concentrating on fundamental and translational studies, found that prostate cancer can be killed by targeting a single enzyme called PI5P4Kα.

Geographical Analysis

Europe is Estimated to Hold the Second-Largest Share of the Global Prostate Cancer Market During the Forecast Period.

Owing to the growing number of prostate cancer cases and initiatives to battle against prostate cancer, Europe is estimated to hold about 26.8% of the global prostate cancer market. For instance, according to the European Federation of Pharmaceutical Industries and Associations, over 30 million males in Europe are detected with prostate cancer in their lifetime and every year more than 75,000 males die from prostate cancer in Europe.

Moreover, the introduction of the EU4Health program has supported PRAISE-U (PRostate cancer Awareness and Initiative for Screening in the European Union), an ambitious three-year task concerning 25 organizations from 12 nations. PRAISE-U’s task is to develop a nationally-tailored cost-effective early diagnosis algorithm for prostate cancer filtering in the EU to decrease mortality and morbidity induced by prostate cancer while evading overdiagnosis and overtreatment.

Competitive Landscape

The major global players in the market include Johnson & Johnson, Astella, Inc., Sanofi Aventis, IPSEN, Bayer AG, AstraZeneca, Valent Pharmaceuticals LLC, Novartis International AG, and Clovis Oncology Inc., among others.

Why Purchase the Report?
• To visualize the Global Prostate Cancer Market segmentation based on therapy type, end-user, and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous prostate cancer market-level data points with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Prostate Cancer Market Report Would Provide Approximately 53 Tables, 54 Figures And 195 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies