by Castrate resistant prostate cancer (CRPC) refers to prostate cancer that continues to progress even after medical or surgical therapy lowers testosterone levels. Drugs used in the treatment of CRPC provide palliation by extending life and or decreasing tumor burden. The global Castrate Resistant Prostate Cancer Market is estimated to be valued at US$ 11.12 Billion in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of prostate cancer has been a key growth driver for the castrate resistant prostate cancer market. As per WHO data, prostate cancer has the fifth highest cancer incidence rate across the globe. According to the American Cancer Society, around 268,490 new cases of prostate cancer were reported in the US in 2022. The rising prevalence is attributed to growing geriatric population and changing lifestyle behaviors. This substantial patient pool suffering from prostate cancer has significantly driven the demand for treating castrate resistant prostate cancer, thus augmenting market growth.
SWOT Analysis
Strength: The rising prevalence of prostate cancer creates demand for novel treatment options. Advancements in diagnostic methods and targeted therapies also boost the market.
Weakness: High treatment costs place a financial burden on patients. Limited treatment response and drug resistance remain challenges as well.
Opportunity: An aging demographic prone to prostate cancer indicates market potential. Ongoing research on combination therapies and personalized medicine can further expand opportunities.
Threats: Patent expirations of blockbuster drugs enable market entry of generics, impacting revenues of incumbent players. Stringent regulations for drug approvals also act as a threat.
Key Takeaways
The Global Castrate Resistant Prostate Cancer Market Size is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis: North America currently dominates the market and is anticipated to continue its leadership during the forecast period. This is attributed to the growing pool of patients, rising healthcare expenditure, and presence of leading market players in the region.
Key players operating in the Castrate Resistant Prostate Cancer market are Bucher Vaslin, Pera Pellenc, Scharfenberger, Zambelli Enotech, ENOTOOLS, Criveller Group, Della Toffola, Gruppo Bertolaso, Fabbri, Mori Luigi & C.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
