Global Prostate Cancer Diagnosis and Treatment Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2028: The increasing prevalence rate of prostate cancer, rising US FDA approvals for prostate cancer, and growing adoption of innovative technologies are some of the major factors driving the growth of the Global Prostate Cancer Diagnosis and Treatment Market.
The Prostate Cancer Diagnosis and Treatment Market is valued at USD 4.40 Billion in 2021 and is expected to reach USD 10.03 Billion by 2028 with a CAGR of 12.5% over the forecast period.
Prostate cancer is one of the most common non-skin cancers worldwide. Prostate cancer starts when cells in the prostate gland begin to grow slowly out of control. The prostate is a gland that has developed only in men. It makes some fluid that is part of the semen. Almost all prostate cancers are adenocarcinomas. These cancers develop from the cells of the gland (the cells that make the prostate fluid that is added to the semen). Other types of cancer that can start in the prostate include small cell carcinoma, neuroendocrine tumors (other than small cell carcinoma), transitional cell carcinoma, and sarcoma. Besides, continued growth in the elderly population, the prevalence of sedentary lifestyles in developed economies, and increasing cases of urological disorders all contribute to the development of prostate cancer worldwide. The last few years have seen significant innovations in the androgen receptor in the context of prostate cancer. In addition, advances have been made in radiopharmaceutical-based therapies as well as immunotherapy. However, their optimal deployment in the clinic remains unclear. Significant advances in the diagnosis and treatment of prostate cancer, such as abiraterone acetate, enzalutamide, cabazitaxel, radium-233, and sipuleucel-T, have occurred over the years.
The COVID-19 pandemic has shown a negative impact on the growth of the global prostate cancer diagnosis and treatment market. During the COVID-19 pandemic, there was a decline in cancer diagnoses. Apart from this, the market has recorded negative growth due to halting diagnosis and treatment of cancer. Major economies have been hit hard by the pandemic as the region has a high number of patients affected by various cancers. Lockdowns lead to fewer visits to hospitals for treatment, and negatively impact the region. However, post-COVID-19, the market is expected to grow with a ""V"" shaped recovery pattern due to increased demand for cancer treatments and drugs.
The global prostate cancer diagnosis and treatment market is segmented on the type, application, region & country level. Based on type, the global prostate cancer diagnosis and treatment market is segmented into the digital rectal exam (DRE), and prostate-specific antigen test (PSA). By application, the global prostate cancer diagnosis and treatment market is segmented into research centers, hospitals, and diagnostic clinics.
The regions covered in the global prostate cancer diagnosis and treatment market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global prostate cancer diagnosis and treatment is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
Some major key players for the global prostate cancer diagnosis and treatment market report cover prominent players like -
One of the major factors in the growth of the prostate cancer diagnosis and treatment market is the increasing prevalence rate of prostate cancer. Prostate cancer is the commonly diagnosed malignancy in older men. An increasing number of older men are diagnosed with prostate cancer due to increasing life expectancy and the increased use of PSA screening. For instance, according to the WHO, 1.41 million new cases of prostate cancer were reported worldwide in 2021, representing 7.1% of all cancers in men. Therefore, the increasing prevalence rate of prostate cancer is expected to drive the market.
In addition, the rising US FDA approvals for prostate cancer are boosting the growth of the prostate cancer diagnosis and treatment market. For instance, as per the news published on March 23, 2022, the Food and Drug Administration approved Pluvicto (lutetium Lu 177 vipivotide tetraxetan, Advanced Accelerator Applications USA, Inc., a Novartis company) for the treatment of adult patients with prostate-specific membrane antigen (PSMAstatic me). On the same day, the FDA approved the radioactive diagnostic agent Locametz (gallium Ga 68 gozetotide) for positron emission tomography (PET) of PSMA-positive lesions, including a selection of patients with metastatic prostate cancer for whom lutetium Lu 177 vipivotide tetrax. Directed therapy is indicated. Lokametz is the first radiodiagnostic agent approved for patient selection in the use of radioligand therapeutic agents. Such ongoing investments and initiatives by governments in various countries are contributing fruitfully to increasing the market share.
Moreover, the growing adoption of innovative technologies is also supplementing the prostate cancer diagnosis and treatment market growth. For instance, as per the news published on February 14th, 2022, applied molecular therapies launched its first theragnostic product for prostate cancer treatment. Therefore, many innovations in various prostate cancer treatments promote the growth of the prostate cancer diagnosis and treatment market.
However, low awareness levels regarding technological innovations in the therapeutic field associated with prostate cancer diagnosis and treatment may hinder the growth of the global prostate cancer diagnosis and treatment market. Despite that, increasing cases of prostate cancer and advancements in technology may create more opportunities in the global prostate cancer diagnosis and treatment market.
Geographically, North America holds a major share in the global prostate cancer diagnosis and treatment market. due to the increasing geriatric population, rising number of prostate cancer cases, and conducting many activities to create awareness about this disease. These factors boost the market. The increasing geriatric population is driving the growth of the market. For instance, the U.S. According to the Census Bureau, more than 56 million adults age 65 and older live in the United States, which is about 16.9% of the nation's population. Therefore, the increasing prevalence of the geriatric population is expected to fuel market growth over the forecast period. In addition, the rising number of prostate cancer cases is another factor supplementing the market growth in this region. Well-developed healthcare infrastructure and rapid rates of early-stage prostate cancer treatment help to further increase the market size. The high knowledge level with respect to prostate cancer diagnosis and therapy, especially in the United States, also facilitates market growth in this sector. For instance, according to the American Cancer Society, on January 12th, 2022, about 268,490 new cases of prostate cancer were diagnosed. non-Hispanic black men and Older men and are more likely to develop prostate cancer. About 6 in 10 cases occur in men aged 65 or older, and it is rare in men under 40. Therefore, the increasing prevalence of prostate cancer cases is expected to boost market growth over the forecast period.
Asia-Pacific is the fastest-growing region in the global prostate cancer diagnosis and treatment market due to the rise in cases of prostate cancer, the increasing elderly population, and growing awareness about prostate cancer diagnosis and treatments. These factors boost the market. For instance, an estimated 414 million Asians were age 65 and older in 2021, about 20% more than the total US population. Therefore, increasing cases of the geriatric population are expected to fuel the market's growth over the years.
On March 23rd, 2022, prostate cancer treatment took a major step forward as the U.S. The Food and Drug Administration approved a new therapy that zeroes in on killing cancer cells. The treatment, called 177Lu-PSMA-617, uses a molecule that targets a specific protein selectively found on the surface of cancer cells called PSMA (prostate-specific membrane antigen). The technology delivers radiation that damages DNA and kills cancer cells.
On February 14th, 2022, Applied Molecular Therapies (AMT) announced a successful TGA license upgrade for GMP manufacturing of an emerging prostate cancer therapy, following the launch of a new joint venture between Cyclotek and ANSTO. Prostate cancer is the second most common cancer diagnosed in Australian men and the third most common cause of cancer death. It is estimated that more than 18,000 new cases of prostate cancer will be diagnosed in Australia this year.
On December 18th, 2020, the FDA approved the first oral drug in this class and may eliminate the need for some patients to visit a clinic for treatments that require administration by a healthcare provider, said Richard Pazdur, Director and Acting Director of the FDA's Oncology Center of Excellence. Office of Oncologic Diseases at the FDA's Center for Drug Evaluation & Research. This ability to reduce clinic visits could be particularly beneficial in helping cancer patients stay at home and avoid contact during the coronavirus pandemic.
|2015 - 2020
|2021 - 2027
|Market Size in 2021:
|USD 4.40 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2028:
|USD 10.03 Billion
|Tables, Charts & Figures:
|Dendreon Pharmaceuticals LLC, Tolmar Pharmaceuticals Inc., AbbVie Inc., Astellas Pharma Inc., AstraZeneca PLC, Ipsen SA, Sanofi, Bristol-Myers Squibb Co., Bayer AG, and others
|By Type, By Application
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
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