The Prostate
Cancer Diagnosis and Therapy Market Research Report Information by Type, By Component, and By
Region– Market Forecast Till 2030
Prostate Cancer
Diagnosis and Therapy Market Size was valued at USD 5.9 billion in 2022 and is
projected to grow from USD 6.34 Billion in 2023 to USD 10.52 billion by 2030,
exhibiting a compound annual growth rate (CAGR) of 7.50% during the forecast
period (2023 - 2030).The report covers COVID-19 impact on the global prostate
cancer diagnosis and therapy market and provides an extensive analysis of
market segments, market trends, growth projections, and market challenges to
identify the prevailing market opportunities.
Prostate cancer
is one of the most common cancers in men over 55 years of age. More than 80% of
the male population suffers from either one of the prostate cancers (prostatic
adenocarcinoma, transitional cell carcinoma, sarcomas, and squamous cell
carcinoma) worldwide.
Market Dynamics
Increased
prevalence of prostate cancer is one of the major factors driving the market
growth. Prostate cancer is the second leading cause of death in men and the
fourth most common cancer in men. There is an increase in the incidence of
prostate cancer due to an increasing age population, obesity, smoking, and poor
dietary habits. People who consume food containing high animal fats and fewer
vegetables are found to be more vulnerable to a high risk of prostate cancer.
The mutation in genetic material also leads to cancer of the prostate. AGS
Health in Aging Foundation, a non-profit organization, reported that
approximately 3 million American men currently have prostate cancer. As per the
UK World Cancer Research Fund, 1.3 million new cases of prostate cancer were
identified worldwide in 2018. France, Ireland, Estonia, Barbados, Norway, and
others were among the top countries with a significant number of prostate
cancer cases in 2018. As a result, the increasing prevalence of cancer
worldwide promotes the demand for various diagnostic and therapeutic methods.
The high cost of
treatment and the side effects may impede the growth of the market. However,
the launch of new products provides growth opportunities for the prostate
cancer diagnosis and therapy market.
Market
Segmentation
The global market
for prostate cancer diagnosis and therapy is segmented into type, component,
and end-user.
By type, the
global prostate
cancer diagnosis and therapy market report has been segmented into prostatic adenocarcinoma,
small cell carcinoma, and others.
By product, the
global market for prostate cancer diagnosis and therapy has been segmented into
reagents, consumables, and analyzers.
Based on the
components, the global prostate cancer diagnosis and therapy market have been
classified as therapy and diagnosis. The segment for therapy is further is
sub-segmented into radiotherapy drugs, hormonal therapy, chemotherapy, and
immunotherapy. Hormonal therapy is divided into LHRH analogs, anti-androgens,
and LHRH antagonists. Chemotherapy is divided into cabazitaxel, docetaxel, and
others. The diagnosis is sub-segmented into tissue biopsy, diagnostic imaging,
and others.
By the end-user,
the global market for prostate cancer diagnosis and therapy has been segmented
into specialty centers, hospitals & clinics, and others.
Regional Analysis
By region, the
global market for prostate cancer diagnosis and therapy has been divided into
the Americas, Europe, Asia Pacific, and the Middle East & Africa.
The Americas held
the largest market share in 2018 and are likely to remain dominant during the
review period due to the high prevalence rate of prostate cancer in the region,
an increasing geriatric population, and an increase in early-stage treatment of
prostate cancer. In addition, growing awareness of procedures related to
prostate cancer diagnosis and therapy in the US is driving market growth in
this area. As per the data provided by the Society, the approximate number of
new cases in the US in 2019 were around 174,650 and nearly 31,620 deaths from
prostate cancer (patients in treatment).
Europe is
predicted to have the second-largest market share in the forecast period. Key
factors, such as aging populations and growing awareness among individuals,
combined with various government initiatives to promote early-stage prostate
cancer treatment, are some of the major factors driving the growth of the
regional market.
The Asia Pacific
is expected to see the highest growth rate during the forecast period due to
booming health insurance schemes, growing disposable per capita income, and the
expansion of the healthcare sector in the regional market. In addition, the
increase in men's obesity levels due to lifestyle changes has significantly
contributed to a rise in the number of cases of prostate cancer in the region.
Key Players
The global prostate
cancer diagnosis and therapy market player are Abbvie Inc. (US), Sanofi
(France), AstraZeneca (UK), Ipsen Pharma (France), Astellas Pharma Inc.
(Japan), Johnson & Johnson Services Inc. (US), Bayer AG (Germany), Tolmar
Pharmaceuticals, Inc.(US), Dendreon Pharmaceuticals LLC (US), and Ferring BV
(Switzerland), among others.
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