As per the current market research conducted by the CMI Team, the global Prostate Cancer Market size is expected to record a CAGR of 9.2% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 13,717.2 Million. By 2033, the valuation is anticipated to reach USD 30,287.8 Million.

Prostate Cancer Market: Growth Factors and Dynamics

  • Aging Population: The aging global population contributes to the growth of the prostate cancer market as the incidence of prostate cancer increases with age. As life expectancy rises, there is a higher likelihood of diagnosing and treating prostate cancer cases.
  • Technological Advancements: Advances in diagnostic tools, imaging techniques, and treatment modalities, such as robotic-assisted surgery and precision medicine, drive market growth. These technologies enhance early detection, diagnosis accuracy, and personalized treatment strategies, improving overall patient outcomes.
  • Rising Awareness and Screening Programs: Increased awareness about prostate cancer, coupled with proactive screening programs and public health initiatives, leads to earlier detection. This, in turn, contributes to higher treatment success rates and a growing demand for healthcare services related to prostate cancer.
  • Novel Therapies and Drug Development: Ongoing research and development efforts result in the introduction of novel therapies, immunotherapies, and targeted drugs for prostate cancer treatment. The emergence of more effective and less invasive treatments fosters market growth and expands the available options for patients.
  • Growing Investment in Healthcare Infrastructure: Increased healthcare spending and infrastructure development globally contribute to better access to diagnostic facilities, treatment centers, and specialized healthcare professionals. This improved accessibility promotes early detection and treatment of prostate cancer, positively impacting the market.

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Prostate Cancer Market: Partnership and Acquisitions

  • In 2022, Switzerland’s Novartis AG gained FDA approval for PluvictoTM (lutetium Lu 177 vipivotide tetraxetan), formerly known as 177Lu-PSMA-617. This approval extends treatment options for adult patients with prostate-specific membrane antigen-positive metastatic castration-resistant prostate cancer (PSMA-positive mCRPC), offering a promising advance in managing this specific type of advanced cancer.
  • In 2022, BioPharma launched Camcevi (leuprolide), a 42mg injection emulsion, for treating advanced prostate cancer in adults. Additionally, the company provides the AccordConnects mobile application, enabling efficient inventory management of Camcevi, enhancing accessibility and facilitating streamlined administration for healthcare professionals.

Prostate Cancer Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the Prostate Cancer Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

  • Disruption in Screening and Diagnostics: COVID-19 led to disruptions in routine healthcare services, causing delays in prostate cancer screenings and diagnostics. Reduced access to healthcare facilities and a focus on managing the pandemic contributed to a decline in timely prostate cancer detection.
  • Treatment Delays and Shift in Priorities: Treatment delays and a shift in healthcare priorities during the pandemic impacted prostate cancer patients. Some elective procedures were postponed, affecting treatment plans and potentially leading to more advanced stages of prostate cancer upon diagnosis.
  • Resumption of Screening Programs: The recovery involves the resumption of regular prostate cancer screening programs and diagnostic services as healthcare systems stabilize. Increased awareness campaigns encourage individuals to undergo screenings, facilitating early detection and timely intervention.

List of the prominent players in the Prostate Cancer Market:

  • AstraZeneca plc
  • Johnson & Johnson
  • Sanofi S.A.
  • Roche Holding AG
  • Novartis International AG
  • Bristol Myers Squibb Company
  • Astellas Pharma Inc.
  • Amgen Inc.
  • Takeda Pharmaceutical Company Limited
  • Pfizer Inc.
  • AbbVie Inc.
  • Dendreon Pharmaceuticals LLC
  • Bayer AG
  • Eli Lilly and Company
  • Endo Pharmaceuticals Inc.
  • Others

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