The non-metastatic castration resistant prostate cancer (nmCRPC) treatment market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. Extensive research associated with cancer treatment in western countries, along with the growing investment in the development of advanced therapies are expected to fuel the progress of this market. The growth of the market can also be attributed to factors such as the increasing geriatric population and the rising prevalence of nmCRPC amongst individuals on a global level. According to the data collected from National Cancer Institute of the U.S. Department of Health and Human Services, in 2020, the estimated new cases and number of deaths from prostate cancer in the U.S. were 191,930 and 33,330, respectively.
The market is segmented based on therapy type into chemotherapy, immunotherapy, radiotherapy, hormonal therapy, and others, out of which, the hormonal therapy segment is anticipated to grab the largest share by the end of 2021 on account of higher positive diagnosis rates and better efficiency of hormonal therapy than chemotherapy. Moreover, hormonal therapy is widely being used as an adjuvant treatment alongside radiation therapy and surgery, which is also projected to contribute to the growth of the segment during the forecast period.
On the basis of application, the speciality hospitals segment in the global nmCRPC treatment market is projected to grow with significant CAGR over the forecast period. The growth of the segment can be attributed to the fact that nmCRPC is a relatively rare occurrence and as a result, a considerable portion of the population with this cancer on a global level tend to choose healthcare facilities specializing in its treatment. CLICK TO DOWNLOAD SAMPLE REPORT
Non-Metastatic Castration Resistant Prostate Cancer Treatment Market Regional Synopsis
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the increasing awareness about nmCRPC and the need to develop innovative cancer treatment solutions in the region. Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to the growing investment of governmental and non-governmental agencies in cancer research, accompanied by the presence of leading healthcare service providers in the region. Along with this, the North America also leads in terms of ongoing clinical trials, which is also expected to contribute to the market growth in the region. Alternatively, the market in Europe is also anticipated to occupy a significant share in the mnCRPC treatment market on account of its proven success in terms of drug development and a high prevalence of prostate cancer in the region. As per the analysis of European Commission, prostate cancer is ranked first among the most widely diagnosed cancer among men in the European Union.
The global non-metastatic castration resistant prostate cancer treatment market is further classified on the basis of region as follows:
Our in-depth analysis of the global non-metastatic castration resistant prostate cancer market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Rising occurrence of prostate cancer and increasing elderly population are the key factors driving market growth.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
Costly therapies and lack of awareness about cancer therapies in lower economic regions are estimated to hamper market growth.
The market in Asia Pacific region will provide ample growth opportunities owing to the increasing awareness about nmCRPC.
The major players dominating the non-metastatic castration resistant prostate cancer treatment market are Pfizer Inc., Bayer AG, Astellas Pharma US, Inc., and Merck Sharp & Dohme Corp. among others.
The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by therapy type, application and region.
With respect to application, the speciality hospitals segment is anticipated to hold the largest market share owing to the growing preference among individuals for speciality treatment facilities for rare diseases.
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