The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s prostate cancer drugs market report forecasts the prostate cancer drugs market size to grow to $23.50 Billion by 2027, with a CAGR (compound annual growth rate) of more than 5%.

Learn More On The Prostate Cancer Drugs Market Report 2023 – https://www.thebusinessresearchcompany.com/report/prostate-cancer-drugs-global-market-report

Prostate Cancer Drugs Market Size Forecast
The global prostate cancer drugs market is expected to grow from $17.63 billion in 2022 to $18.81 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global prostate cancer drugs market size is expected to grow to $23.50 billion in 2027 at a CAGR of 5.7%.

North America held the largest prostate cancer drugs market share, and Middle East was the fastest-growing region in 2022.

Key Prostate Cancer Drugs Market Driver ­– Increase In Men Geriatric Population
According to ACL (Administration For Community Living), a US-based government organization,the geriatric population is expected to increase by 21.6% by 2040. Among those population, men are affected more with prostate camcer than women.For example, in January 2022, according to American Cancer Society, a US-based organization, prostate cancer develops in older men and in non-hispanicblack menand about 6 cases in 10 are diagnosed in men who are 65 or older(geriatric population). Therefore, increasing men geriatric population drives the prostate cancer market.

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Key Prostate Cancer Drugs Market Trend – Adopting Combination Therapy
This is mainly because, in some cases of prostate cancer, monotherapy has not been effective for the patients. In this regard, companies in the prostate cancer drugs market are investing more in combination therapy for the treatment of prostate cancer. For example, Pfizer announced the results of its Phase 3 PROSPER trial in patients with non-metastatic (M0) Castration-Resistant Prostate Cancer (CRPC), which show that the use of XTANDI (enzalutamide) in combination with androgen deprivation therapy (ADT) significantly reduced the risk of developing metastases or death by 71% compared to using ADT alone. Similarly, other combination therapies such as a combination of radiation therapy and androgen deprivation therapy for men with recurrent prostate cancer, and using chemotherapy drug docetaxel (Taxotere) along with ADT are also being used to treat prostate cancer.

Prostate Cancer Drugs Market Segment
1) By Type: Hormone Sensitive Prostate Cancer, Hormone Refractory Prostate Cancer
2) By Therapy: Hormonal Therapy, Chemotherapy, Immunotherapy, Targeted Therapy
3) By End User: Hospitals, Clinics, Other End-Users

Prostate Cancer Drugs Market Major Players and Strategies
Major players in the prostate cancer drugs market are Astellas Inc., AstraZeneca PLC., Johnson & Johnson, Sanofi S.A, Bayer AG, Roche, Abbott, Pfizer, Norvaris and F. Hoffmann-La Roche AG.

In June 2021, Bayer, a Germany-based pharmaceutics company acquired Noria Therapeutics Inc. (Noria) and PSMA Therapeutics Inc. for an undisclosed amount. With this acquisition, Bayer will gain exclusive access to a specialized alpha radionuclide investigational drug built on actinium-225 and a small molecule aimed against prostate-specific membrane antigen. PSMA Therapeutics Inc. is a US-based company that specializes in prostate-specific membrane antigen research and Noria Therapeutics Inc. is a radiotherapy firm focused on creating alpha-emitting radiopharmaceuticals for targeted therapeutic and imaging applications in oncology.

The Prostate Cancer Drugs Global Market Report 2023 covers regional data on prostate cancer drugs market size, prostate cancer drugs market trends and drivers, opportunities, strategies, and prostate cancer drugs market competitor analysis. The countries covered in the prostate cancer drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The prostate cancer drugs refer to drugs that are used for the prevention and treatment of prostate cancer. Prostate cancer is one of the most common types of cancer caused due to uncontrollable development of cells in the prostate gland in men that produces the seminal fluid that nourishes and transports sperm. Some of the possible treatments for prostate cancer include hormonal therapy, chemotherapy, immunotherapy, and targeted therapy.

View More Reports Related To The Prostate Cancer Drugs Market –
Drugs For Immunotherapy Global Market Report 2023
Cancer Biologics Global Market Report 2023
Cancer Diagnostics Global Market Report 2023

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