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Prostate Cancer Diagnostics and Therapy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • ID: 4591314
  • Report
  • April 2021
  • Region: Global
  • 124 pages
  • Mordor Intelligence

FEATURED COMPANIES

  • Abbvie Inc.
  • AstraZeneca PLC
  • F. Hoffmann-La Roche Ltd.
  • Ipsen SA
  • Merck & Co. Inc.
  • Sanofi-Aventis
The prostate cancer diagnostics and therapy market was expected to grow with a CAGR of nearly 6.1% during the forecast period, 2021-2026.

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. So, they are majorly suggested to stay at home and avoid all non-emergent diagnoses and treatment. According to the Union for International Cancer Control's (UICC), 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, this negative 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. Prostate cancer is the second most common type of cancer in the male population. About 80% of men who reach 80 years of age are diagnosed with it. As per the data published by Globocan 2020, 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 the population in the world is also expected to propel market growth. For instance, as per World Population Ageing Report 2019, there were 703 million people aged 65 years or over in the world in 2019, and this number of older persons is projected to double and reach 1.5 billion in 2050. In addition, several government bodies are also taking initiatives in order to expand the treatment and diagnostic options. For instance, in 2018, the Australian government and Movember Foundation announced a partnership to combat prostate cancer by investing AUD 12 million in the ground-breaking new research teams focused on conducting life-saving prostate cancer researches and decreasing the number of deaths caused by the disease. Hence, owing to all the aforementioned 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 is expected to hinder the market growth.

Key Market Trends

The Transrectal Ultrasound (TRUS) Segment is Expected to Grow at Rapid Pace

The transrectal ultrasound (TRUS) guided biopsy is also among the common diagnostic procedure performed for prostate cancer, which is still considered as the viable option. It is quick and convenient to the provider, along with a familiar approach to most of the 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.

Philips is one of the major companies, which is advancing in both transrectal and transperineal biopsy. BK Medical is among the others, which has established itself well in PSA testing and TRUS as the primary diagnostic pathway, for more than 25 years.

In recent years, the American Urology Association and the European Association of Urology have recommended the TRUS biopsy, which is the most common and useful alternative transperineal approach. In several cases, the patients are often suffering 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 estimated to be steady, during the forecast period.

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

Geographically, North America is anticipated to dominate the market share owing to the factors such as increasing prevalence of prostate cancer coupled with rising awareness and increasing research and development in this region. According to the American Cancer Society, in 2018, an estimate of 164,690 new prostate cancer cases was identified and 29,430 deaths were reported in the United States.

The USFDA 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 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 March 2019, MiR Scientific launched tests for prostate and bladder cancer, and in 2018, Clovis Oncology received Breakthrough Therapy Designation from USFDA for Rubraca(rucaparib) for the treatment of BRCA1/2-Mutated Metastatic Castration-Resistant Prostate Cancer (mCRPC).

Market players in Canada are focusing on various growth strategies, such as new product launches, partnerships, mergers, and acquisitions, etc. For instance, in Feb 2018, Janseen Pharmaceutical received Health Canada approval for a new indication for ZYTIGA (abiraterone acetate) thereby, broadening its use for the treatment of newly diagnosed metastatic prostate cancer. In addition to promising pipeline drugs, such as Apalutamide, the market in this region is expected to propel.

Competitive Landscape

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. 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, among others. Market players are constantly focusing on market expansion through innovative product launches. For instance, in Feb 2019, Blue Earth Diagnostics announced the first commercial production of Axumin(fluciclovine ) in Italy, with the first Italian patients being dosed. Axuminis a novel molecular imaging agent approved in the European Union for use in PET imaging to detect prostate cancer in men, those who are experiencing suspected recurrence

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Abbvie Inc.
  • AstraZeneca PLC
  • F. Hoffmann-La Roche Ltd.
  • Ipsen SA
  • Merck & Co. Inc.
  • Sanofi-Aventis
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 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
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 Becton, Dickinson and Company
6.1.6 Dendreon Pharmaceuticals LLC
6.1.7 F. Hoffmann-La Roche Ltd.
6.1.8 Hologic Inc.
6.1.9 Ipsen SA
6.1.10 Johnson & Johnson Services, Inc
6.1.11 Koninklijke Philips NV
6.1.12 Merck & Co. Inc.
6.1.13 Pfizer Inc.
6.1.14 Sanofi-Aventis
6.1.15 Thermo Fisher Scientific

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown
  • Abbvie Inc.
  • Astellas Pharma Inc.
  • AstraZeneca PLC
  • Bayer AG
  • Becton, Dickinson and Company
  • 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
Note: Product cover images may vary from those shown

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