The growing cases of prostate cancer in the healthcare industry is propelling the market growth.
Market Size – USD 7.85 Billion in 2018, Market Growth – CAGR of 8.9%, Market Trends – The advent of evolved methods of treatment.
The Global Hormone Refractory Prostate Cancer (HRPCA) Market is forecast to reach USD 15.64 Billion by 2026, according to a new report by Reports and Data. Hormone refractory prostate cancer (HRPCA), also known as Castrate-Resistant Prostate Cancer (CRPC), is a particular type of cancer that recurs even after hormonal therapy. It has been categorized under prostate cancer in present times. Due to the low deliverance of clinical needs associated with limited survival periods, HRPCA prevalence is intensified along with fast-emerging treatment methodologies. The global HRPCA market is anticipated to witness unprecedented growth. Most prostate cancers are found during screening with a rectal exam or prostate-specific blood test. Initially, prostate cancers don’t show any symptoms, but on advancing stages, sometimes symptoms can be seen. On the situation where Hormone Refractory Prostate Cancer is suspected based on the outcomes of screening tests, further tests are needed to confirm the diagnosis.
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The drivers for Hormone Refractory Prostate cancer market are promising pipeline drugs, evolving methods of treatment, along with growth in patient awareness. A large untapped pool of patients would opt for the treatment of Hormone Refractory Prostate Cancer, which will boost the revenue in the market. On the other hand, premium drugs for Hormone Refractory Prostate Cancer, limited period of survival, and indeterminate reimbursement policies would hinder the growth of the market over the forecast period.
The population of Asia Pacific has been shifting towards the youth, and the purchasing potential of this young populace is also increasing. Because of the rising cases of prostate cancer in this region, which mainly affects the older age group, the situation here attracts a large quantity of medicine manufacturers. Further research on these preventive as well as curtailing drugs are being promoted in this region.
Further key findings from the report suggest:
- Cytotoxic agents are set to expect the highest CAGR of 9.1% during the forecast period. These drugs have been in the market for some time and the growth of this segment is imminent because of the availability as well as cost effective nature of these drugs.
- Hormonal Therapy segment held the largest market share of 59.7% in the year 2018. This methodology is utilized due to availability of treatment in most clinics and hospitals. A major consensus resorts to this treatment method because of the high research in this technique.
- Ambulatory Surgical Centres are set to experience the highest CAGR of 10.0% during the forecast period. This is because of the benefits of ambulatory treatment where the patient is to let go without a stay at the centre. This treatment method is easy to deliver as well as a larger number of patients can be catered.
- Asia Pacific is forecasted to have the highest CAGR of 9.4% during the forecast period. Countries like India and China are rapidly catching up with the growth in the pharmaceuticals market. With high cases of prostate cancer and the research regarding pertaining, the market is set to observe significant growth.
- Key participants AbbVie Inc., Acceleron Pharma Inc., AB Science SA, AstraZeneca Plc., Astellas Pharma Inc., Boston Biomedical, Dendreon Corporation, Sanofi S.A, and Johnson & Johnson, among others.
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For the purpose of this report, Reports and Data have segmented into the global Hormone Refractory Prostate Cancer (HRPCA) Market on the basis of agent type, treatment type, end-users, and region:
Agents Type Outlook (Revenue, USD Billion; 2016-2026)
- Cytotoxic Agents
Treatment Type Outlook (Revenue, USD Billion; 2016-2026)
- Hormonal Therapy
- Radiation Therapy
End-Users Outlook (Revenue, USD Billion; 2016-2026)
- Ambulatory Surgical Centers
- Specialty Clinics
Regional Outlook (Revenue, USD Billion; 2016-2026)
- North America
- Asia Pacific
- Latin America
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Key Highlights of the Report:
In-depth examination of the latest market trends, including drivers, opportunities, threats, constraints, challenges, and future growth prospects
Regional and country-wise market size estimation for the forecast period
Key pricing strategies of the regional market players
Demand & supply gap analysis
Competitive landscape analysis
Brief summary of the key strategies, financial positions, and recent developments of the leading companies
Company profiling of the leading market players
Precise assessment of the revenue shares of the top market players
Strategic recommendations for new market entrants
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