Prostate Health

Prostate Health

The prostate is an organ located beneath the urinary bladder and ahead of the rectum, composed of connective tissue and glandular tissue. It produces fluid for the production of sperm, and its muscles facilitate the passage of sperm through the urethra. Prostate health is an important aspect of overall male health as ignorance of prostate health leads to the birth of multiple diseases including prostate cancer, and benign prostate hyperplasia. The prostate health market is growing at a tremendous rate owing to an increased focus on early detection and prevention, advances in treatment options, and a rise in the geriatric population. For instance, the majority of prostate cancer cases are diagnosed in older men, with a median age of 66 years, according to a May 2023 study published in the Journal of the American Society of Clinical Oncology. Additionally, 60% of the patients are men aged 65 and over, and 20% are men aged 75 and over. Also, the World Health Organization (WHO) reported in October 2022 that between 2015 to 2050, the segment of the world's population over 60 years will nearly double from 12% to 22%, which will propel the prostate health market at a steady rate.

The Prostate Health Market is expected to grow at a strong CAGR of 8.9% during the forecast period owing to the rising technological advancements for maintaining prostate health. For instance, Nucleai Company, a spatial biology firm powered by artificial intelligence, launched the Prostate Health platform on 22 March 2022. Prostate Health is the first multisectoral tissue segmentation platform (MTSP) for digital pathology that uses artificial intelligence (AI) and machine learning (ML) to enhance prostate cancer detection. Several other factors such as increased investment in research, and improved patient outcomes are also leading to the surge in the market. Improper lifestyle leads to obesity and obesity causes multiple problems in patients. For instance, according to a 2020 article published by Science Direct, obesity is linked to an increased likelihood of recurrence after curative intent treatment and progression to advanced prostate cancer in individuals with prostate cancer.

• Based on indication, the market is segmented into prostate cancer, benign prostate hyperplasia, and others. The prostate cancer segment held the highest share in the market in the year 2022 owing to increasing cases of prostate cancer, bad lifestyle factors, and obesity. Consumption of unhealthy foods and diets that are predominantly fat-rich and derived from animal sources can lead to DNA damage and the development of cancer. For instance, the American Cancer Society has reported that in 2021, there were approximately 248,570 new cases of prostate cancer diagnosed in the U.S., with the majority of these cases originating in 2020. Other factors such as the rise in the geriatric population are also strengthening grounds for the prostate cancer segment in the prostate health market.
• Based on modality, the market is bifurcated into diagnosis and treatment. The diagnosis segment is expected to grow with the highest CAGR during the forecast period owing to the increased cases of prostate cancer, rising number of screening tests, technological developments in diagnostics using artificial intelligence, and government awareness programs regarding risks and symptoms associated with prostate cancer. For instance, in 2021, the National Cancer Institute reported that 37.1 percent of men between the ages of 55 and 69 had undergone a Prostate-Specific Antigen Test within the previous year, as compared to the previous year. Thus, the increase in diagnosis of prostate cancer is driving the growth of this modality.
• On the basis of treatment, the market is segmented into hormonal therapy, radiation therapy, surgical treatments, and therapeutics. The chemotherapy category held the highest share in the market in 2022 attributed to the efficacy of chemotherapy in the eradication of cancer cells which is maximized by the use of X-ray and proton radiation to target cancer cells. Furthermore, the prevalence of prostate cancer has been on the rise around the world, which has contributed to the growth of this segment globally. For instance, it was reported in June 2023 that, in the U.S., a quarter of cancer patients receive chemotherapy each year, and when compared to not receiving treatment, chemotherapy can have a positive effect on the survival of some patients. Thus, the chemotherapy segment held dominance in the market in the year 2022.
• For a better understanding of the market adoption of the prostate health industry, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is expected to grow with the highest CAGR during the forecast period. Several factors, such as the rising prevalence of prostate diseases, a large patient pool, a rising geriatric population, and rising research and development activities are driving the regional market growth. Countries such as India and China offer attractive investment opportunities for clinical research and are anticipated to positively drive research and development prospects for prostate health. In addition to this, rising obesity among adults is a major driving factor for this segment. For instance, the World Health Organization in 2021 estimated that in Southeast Asia 6.6 million young children under 5 years and one in five adults are currently overweight, which is expected to significantly rise in upcoming years. Hence, given the large population size of APAC, it is expected to grow with a high CAGR during the forecast period.
• Some of the major players operating in the market include Johnson & Johnson Services, Inc.; Abbott; Johnson & Johnson Services, Inc.; Novartis AG; Siemens Healthcare GmbH; Bayer AG; Pfizer Inc.; Sanofi; Amgen Inc.; AstraZeneca; Bristol-Myers Squibb Company.