The Castrate Resistant Prostate Cancer Market is Estimated To Witness High Growth Owing To Developments in Cancer Therapies

 

Castrate Resistant Prostate Cancer Market

The global Castrate Resistant Prostate Cancer Market is estimated to be valued at US$ 11.12 Bn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market Overview:

Castrate resistant prostate cancer (CRPC) occurs after private cancer has spread to other areas of the body even when therapy lowers testosterone levels. Chemotherapy is given to reduce cancer growth and spread in the body blocking tumors from growing and spreading. Other hormonal therapy medicines and chemotherapy are also used.

 

Market key trends:

One of the key trends in the CRPC market is the emergence of high intensity focused ultrasound (HIFU) as a non-invasive focal therapy. In HIFU, high intensity focused ultrasonic beams are used to destroy diseased prostate tissues through heat generation without harming surrounding normal tissues. It provides targeted treatment of prostate tumors with minimal invasiveness compared to radical prostatectomy or radiotherapy. The advancement of HIFU technology is expected to drive the growth of the CRPC market.

Segment Analysis

The global castrate resistant prostate cancer market is segmented based on drug type, distribution channel, and geography. In terms of drug type, the market is segregated into chemotherapy, hormonal therapy, immunotherapy, and targeted therapy. The chemotherapy segment currently dominates the market due to the wide usage and availability of generic chemotherapeutic agents. These drugs are recommended as a first line treatment option.

 

Key Takeaways

The Global Castrate Resistant Prostate Cancer Market Share is expected to witness high growth, exhibiting CAGR of 8.2% over the forecast period, due to increasing incidence of prostate cancer driven by aging population and sedentary lifestyle.

 

Regional analysis

North America currently dominates the global market and is expected to continue its dominance over the forecast period. This is attributed to presence of advanced healthcare facilities, awareness regarding prostate cancers, and availability of reimbursements. Asia Pacific is expected to be the fastest growing market owing to increasing patient population, rising healthcare spending, and emerging healthcare infrastructure.

 

Key players

Key players operating in the castrate resistant prostate cancer market are Sanofi, Johnson & Johnson Services Inc., Pfizer Inc., Astellas Pharma Inc., Bayer AG, Bristol Myers Squibb, Merck Sharp & Dohme, Novartis International AG, Eli Lilly & Company, and AstraZeneca plc. These players are focusing on launch of advanced therapeutics and expanding their geographical presence through collaborations and acquisitions to strengthen their market position.

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https://www.dailyprbulletin.com/castrate-resistant-prostate-cancer-market-size-share-growth-outlook-2023/

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