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Prostate Cancer Therapeutics Market Trends

Report ID: GMI10189
Published Date: Jul 2024
Report Format: PDF

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Prostate Cancer Therapeutics Market Trends

The prostate cancer therapeutics industry is experiencing several notable trends that are shaping its growth and development. Factors such as continuous innovations in therapies, increased focus on personalized medicine, rise of minimally invasive treatments, and growing demand for integrated artificial intelligence in healthcare and machine learning, among other factors are propelling the industry growth.

Further, there is a growing focus on patient-centric care approaches, involving shared decision-making between healthcare providers and patients. Patient preferences, quality of life considerations, and treatment goals play a significant role in treatment planning and selection of therapeutics.
Moreover, combination therapies that combine different treatment modalities, such as surgery with radiotherapy or chemotherapy with immunotherapy, are increasingly used to enhance treatment efficacy and overcome resistance mechanisms in prostate cancer, thereby aforementioned factors are expected to drive the market.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Prostate cancer therapeutics industry size was USD 11.7 billion in 2023 and is projected to expand at 8.8% CAGR from 2024 to 2032, due the ongoing advancements in treatment modalities, and expanding pipeline of novel therapies.

The hormonal therapy segment in the prostate cancer therapeutics industry accounted for USD 8.1 billion in revenue in 2023, as it is effective in reducing levels of androgens (male hormones), such as testosterone.

The androgen receptor inhibitors drug class segment in the prostate cancer therapeutics industry accounted for 35% share in 2023 and is estimated to witness significant growth between 2024 and 2032, owing to their ability to provide therapeutic options to manage CRPC by targeting androgen receptor signaling pathways.

North America prostate cancer therapeutics industry recorded USD 4.6 billion in revenue in 2023 and is projected to grow at 8.4% CAGR from 2024 to 2032, led by the presence of advanced healthcare infrastructure, including well-equipped hospitals, specialized cancer centers, and comprehensive oncology care facilities.