Prostate Cancer Medicine Market expected to Witness Significant Growth in Forecast Period by 2022

Global Prostate Cancer Medicine Market is expected to grow at a significant CAGR in the upcoming years as the scope and its applications are rising enormously across the globe. Prostate cancer is a cancer that occurs in the prostate gland in men, the gland that produces the seminal fluid and plays important role in urine control in men. It is most common cancer in men. All prostate cancer is adenocarcinomas that are, it begins in cells that release and make mucus and other fluids. It is a slow - growing cancer and mainly occurs at old age.

The factors that are playing a major role in the growth of Prostate Cancer Medicine Market are improved R&D investment by drug innovators and rising awareness and use of enhanced technology. On the other hand, reimbursement policies, high - cost combination therapies, and lengthy treatment durations are estimated to hinder the overall market growth. The market is segmented based on types, applications, and region. Types such as Targeted Therapy Drugs, Hormonal Therapy Drugs, Immunotherapy Drugs, and Chemotherapy Drugs classify Prostate Cancer Medicine Industry.

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Targeted Therapy Drugs consists of Signal transduction inhibitor - Sprycel, Angiogenesis inhibitor - lanreotide, TASQ, Zaltrap, and Apoptosis inducing - custirsen sodium. Hormonal Therapy Drugs consists of Pipeline drugs - Zytiga, MDV3100, and TAK700, LHRH antagonists - Firmagon, Antiandrogens - Casodex, and LHRH analogs - Zoladex, Lupron, Eligard, Vantas, and Decapeptyl.

Hormonal Therapy segment accounts for the largest market share of Prostate Cancer Medicine Market and is estimated to lead the overall market in the years to come. The reason being, the presence of a significant number of recognized drugs like AbbVie’s Lupron and Astra Zeneca’s Zoladex. In addition, the effectiveness of these drugs in treating prostate cancer is another factor rising the growth of the market. Applications into Pharmacy, Hospital, and others classify this market.

Prostate Cancer Medicine Market is segmented geographically into Americas (North America, Latin America), Europe (Eastern Europe, Western Europe), Asia Pacific, Latin America, Middle East and Africa. Globally, Americas accounts for the largest market share of Prostate Cancer Medicine Industry and is estimated to lead the overall market in the years to come. The reason being, the presence of key manufacturers in the region, high demand for targeted therapies and immunotherapies in the United States, developed healthcare infrastructure, and growing awareness among individuals regarding prostate cancer. The United States is the major consumer of this market in this region. Europe and Asia Pacific follow suit.

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On the other hand, Asia Pacific is estimated to grow at fastest pace in the years to come. The reason being, a government initiative in generating awareness through online portals and programs that gives details regarding screening & diagnosis through PSA blood tests and DRE for male patients over 50 years of age. In addition, increasing investments by manufacturers for the development of immunotherapies and targeted therapies, use of modern technologies, and improving healthcare infrastructure.

The key players of Prostate Cancer Medicine Market are Roche Holding AG, AstraZeneca Plc., Astellas Pharma AG, Active Biotech, Abbott Laboratories, Bristol Myers - Squibb, Bayer AG, Teva Pharmaceuticals Industries Ltd., Pfizer Inc., and Johnson & Johnson. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.