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Prostate Cancer Diagnostics and Therapy Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)

  • ID: 4591314
  • Report
  • June 2022
  • Region: Global
  • 124 Pages
  • Mordor Intelligence
The prostate cancer diagnostics and therapy market was expected to register a CAGR of nearly 13.7% during the forecast period (2022-2027).

Cancer diagnosis and treatment care are hard hit by the sudden emergence of the COVID-19 infection due to the halt in diagnostic procedures and surgical procedures. Moreover, as per many studies, cancer patients, especially prostate cancer patients, are more susceptible to coronavirus than individuals without cancer, as they are in an immunosuppressive state caused by the malignancy and anticancer treatment. Thus, they are majorly suggested to stay at home and avoid all non-emergent diagnoses and treatment. According to the Union for International Cancer Control (UICC) in May 2020, there is a significant decrease in cancer diagnostics rates in the United States during the pandemic. This is expected to impact the market growth. However, such hindering impact on growth is anticipated to persist for a short duration.

The major factor attributing to the growth of the market studied is an aging population and a high prevalence rate of prostate cancer. According to the Globocan 2020, prostate cancer is the second most common type of cancer in the male population. As per the data published by same source, the prevalence of prostate cancer was found to be 1,414,259, or 7.3% of the total cancer cases worldwide. As prostate cancer is more common in the elderly population, the rising aging is population in the world is also expected to propel market growth. For instance, according to the World Population Aging Highlight of 2020 published by the United Nations, the global geriatric population (people of age 65 years or more) was 727 million in 2020, and it is expected to reach 1.5 billion by the end of 2050.

Furthermore, in May 2020, Food and Drug Administration granted accelerated approval to rucaparib for patients with deleterious BRCA mutation (germline and/or somatic)-associated metastatic castration-resistant prostate cancer (mCRPC) who have been treated with androgen receptor-directed therapy and a taxane-based chemotherapy. Therefore, these will lead to increased adoption of prostate cancer therapies, driving the market growth.

Hence, owing to all the aforementioned factors, the market is anticipated to propel at high growth rates. However, the high cost of prostate cancer drugs and the low success rate of clinical trials are expected to hinder the market growth.

Key Market Trends


The Transrectal Ultrasound (TRUS) Segment is Expected to Grow at Rapid Pace Over the Forecast Period


The transrectal ultrasound (TRUS) guided biopsy is also among the common diagnostic procedures performed for prostate cancer, which is still considered the viable option. It is quick and convenient to the provider, with a familiar approach to most urologists and a low risk of urinary retention. It is very useful to observe the abnormal areas of the prostate, size, and shape of the prostate. TRUS is considered a viable option in some cases as an important alternative for the early detection of prostate cancer. For patients who cannot undergo MRI procedures due to claustrophobia, metal implants, or lack of insurance coverage, TRUS is a good option with clinical benefits.

Furthermore, according to the study published in Journal of Urology, titled 'A Nationwide Analysis of Risk of Prostate Cancer Diagnosis and Mortality following an Initial Negative TRUS-Biopsy with Long-Term Follow-Up' in February 2022, men who have negative TRUS biopsies have an extremely low prostate cancer-specific death rate, especially if their prostate specific antigen (PSA) is below 10. This raises major concerns regarding the widespread use of MRI-targeting for first prostate biopsy, and advises that MRI-targeting should be reserved for men whose PSA is greater than 10 ng/ml following a negative biopsy. This will lead to increased adoption of transrectal ultrasound for the detection of prostate cancers, thereby driving this segment growth.

In addition, in May 2021, RSIP Vision, an experienced leader in driving innovation for medical imaging through advanced Artificial Intelligence (AI) and computer vision solutions, has launched a new prostate MRI-to-ultrasound registration tool that provide MRI-to-ultrasound registration using standard MRI scans and trans-rectal ultrasound images. Such advanced solutions will furhter drive this segment growth due to increased adoption of transrectal ultrasound diagnostics in detection of prostate cancers.

In several cases, the patients often suffer from associated diseases, where the TURS biopsy has a considerable edge over other procedures. Thus, it is widely known and accepted. At present, with several new approaches coming up with imaging, the growth of this segment is estimated to be steady during the forecast period.



North America is Expected to Retain a Significant Market Share During the Period of Forecast


North America is anticipated to hold a significant the market share, owing to the factors such as the increasing prevalence of prostate cancer, coupled with the rising awareness and increasing research and development in this region. According to the American Cancer Society, in 2022, an estimate of 268,490 new prostate cancer cases was identified, and 34,500 deaths were reported in the United States. In addition according to the same source, about 6 cases in 10 are diagnosed in men who are 65 or older, and it is rare in men under 40. The average age of men at diagnosis is about 66.

The United States Food and Drug Administration is taking steps to enhance the growth of the cancer therapy market by approving drugs, which are in the clinical phase, thus accelerating the clinical developments. Companies and research organizations are investing in research and development (R&D). Hence, the market is expanding at a fast pace.

The rising number of prostate cancer cases is creating huge opportunities for market players. The major market players are focusing on R&D activities to bring new and reliable treatments to the market. For instance, in September 2021, the United States Food and Drug Administration has authorized marketing of software to assist medical professionals who examine body tissues (pathologists) in the detection of areas that are suspicious for cancer as an adjunct (supplement) to the review of digitally-scanned slide images from prostate biopsies (tissue removed from the body). Such initiatives will lead to increased adoption of prostate cancer diagnosis and treatment in the United States, thereby driving the market growth.

Market players in North America are focusing on various growth strategies such as new product launches, partnerships, mergers, and acquisitions. For instance, in April 2020, Knight Therapeutics has licensed the exclusive rights to commercialize Trelstar in Canada from Debiopharm, a Swiss-based, global biopharmaceutical company, to offer standard-of-care therapy to Canadian prostate cancer patients. In addition, in January 2021, Myovant partnered with Pfizer to commercialize its prostate cancer drug Orgovyx (relugolix), approved in December 2020.

Therefore, owing to the above mentioned factors, the market is expected to drive in this region over the forecast period.



Competitive Landscape


The market for prostate cancer diagnostics and therapy is highly competititive. Several large drug and equipment manufacturers exist within the global prostate cancer diagnostic and therapy market, and their status as a major player lies primarily within specific product markets. Some of the key players in the market include Abbott Laboratories, Astellas Inc., AstraZeneca, Bayer HealthCare AG, Cellanyx Diagnostics Inc., Dendreon Corporation, Ferring Pharmaceuticals, Ipsen Group, Sanofi-Aventis, Tolmar Inc, GE Healthcare, Siemens Healthineers, and F. Hoffmann-La Roche AG. Market players are constantly focusing on market expansion through innovative product launches.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support


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Table of Contents

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Aging Population and High Prevalence Rate of Prostate Cancer
4.2.2 Innovation in Drugs and Developments in Genomics and Proteomics
4.2.3 Increasing Government Initiatives for Cancer Awareness
4.3 Market Restraints
4.3.1 High Cost of Prostate Cancer Drugs
4.3.2 Low Success Rate of Clinical Trials
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Type
5.1.1 Benign Prostatic Hyperplasia
5.1.2 Prostatic Adenocarcinoma
5.1.3 Small Cell Carcinoma
5.1.4 Other Types
5.2 By Modality
5.2.1 Diagnosis
5.2.1.1 Tissue Biopsy
5.2.1.2 Transrectal Ultrasound
5.2.1.3 Clinical Laboratory Examination
5.2.1.3.1 Prostate-specific Antigen Testing
5.2.1.3.2 Urine Testing
5.2.1.4 Diagnostic Imaging
5.2.2 Treatment
5.2.2.1 Surgery
5.2.2.2 Radiation Therapy
5.2.2.3 Therapeutics
5.2.2.3.1 Hormone Therapy
5.2.2.3.2 Chemotherapy
5.2.2.3.3 Other Treatments
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle-East & Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbvie Inc.
6.1.2 Astellas Pharma Inc.
6.1.3 AstraZeneca PLC
6.1.4 Bayer AG
6.1.5 Dendreon Pharmaceuticals LLC
6.1.6 F. Hoffmann-La Roche Ltd
6.1.7 Hologic Inc.
6.1.8 Ipsen SA
6.1.9 Johnson & Johnson Services Inc.
6.1.10 Koninklijke Philips NV
6.1.11 Merck & Co. Inc.
6.1.12 Pfizer Inc.
6.1.13 Sanofi-Aventis
6.1.14 Thermo Fisher Scientific
7 MARKET OPPORTUNITIES AND FUTURE TRENDS

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Abbvie Inc.
  • Astellas Pharma Inc.
  • AstraZeneca PLC
  • Bayer AG
  • Dendreon Pharmaceuticals LLC
  • F. Hoffmann-La Roche Ltd
  • Hologic Inc.
  • Ipsen SA
  • Johnson & Johnson Services Inc.
  • Koninklijke Philips NV
  • Merck & Co. Inc.
  • Pfizer Inc.
  • Sanofi-Aventis
  • Thermo Fisher Scientific

Methodology

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