Global Castrate Resistant Prostate Cancer (CRPC) Market to Surpass US$ 16.4 Billion by 2028, Says Coherent Market Insights (CMI)
SEATTLE, July 20, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global castrate-resistant prostate cancer market is estimated to be valued at US$ 9.5 billion in 2021 and is expected to exhibit a CAGR of 8.2% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Castrate-resistant Prostate Cancer Market:
Key trends in the market include increasing cases of prostate cancer, increasing number of product launches, and rising research and development activities.
The increasing prevalence of prostate cancer is expected to fuel growth of the global castrate-resistant prostate cancer market over the forecast period. For instance, according to the Cancer Research UK report 2018, the most common cancer in men is prostate cancer and over 47,500 men were diagnosed with prostate cancer accounting for 129 men each day, and death rate amounting to over 11,500 men across the U.K.
The increasing number of product approvals and launch is expected to bolster growth of the global castrate-resistant prostate cancer market. For instance, on May 15 2020, Clovis Oncology Inc., a biopharmaceutical company, announced that the U.S. Food and Drugs Administration (FDA) approved Rubraca (rucaparib) tablets for the treatment of adult patients with a deleterious BRCA (BReast CAncer gene) mutation -associated metastatic castration-resistant prostate cancer (mCRPC).
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Moreover, increasing research and development activities for the treatment of castrate-resistant prostate cancer is expected to drive growth of the global castrate-resistant prostate cancer market. For instance, on May 29 2020, Pfizer Inc., a multinational pharmaceutical company and Astellas Pharma Inc., a Tokyo-based company in collaboration, announced the final results of the Phase 3 PROSPER trial's overall survival (OS) analysis. The final PROSPER results showed that XTANDI (enzalutamide) significantly extended overall survival in men with non-metastatic castration-resistant prostate cancer (nmCRPC).
Key Market Takeaways:
The increasing research and development activities, rising product launches and approvals, inorganic activities such as collaborations, acquisitions, and others are expected to drive growth of the global castrate-resistant prostate cancer market over the forecast period. For instance, on April 28, 2021, ESSA Pharma Inc., a clinical-stage pharmaceutical company, announced an agreement with Bayer AG, a multinational pharmaceutical & life sciences company. The agreement calls for ESSA's lead product candidate, EPI-7386 to be in combination with Bayer's darolutamide tested in patients with metastatic castration-resistant prostate cancer (‘mCRPC’).
Competitive Landscape:
Key players operating in the global castrate-resistant prostate cancer market include Sanofi, Johnson & Johnson Services Inc., Pfizer Inc., Astellas Pharma Inc., Bayer AG, Bristol Myers Squibb, Merck Sharp & Dohme, Novartis International AG, Eli Lilly & Company, and AstraZeneca plc.
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Market Segmentation:
Global Castrate-resistant Prostate Cancer Market, By Therapy Type:
Hormonal Therapy
Immunotherapy
Chemotherapy
Global Castrate-resistant Prostate Cancer Market, By Drug Class:
Antineoplastic
Non-steroidal Antiandrogen
Corticosteroids
Microtubule Inhibitor
Others
Global Castrate-resistant Prostate Cancer Market, By Route of Administration:
Oral
Injectable
Global Castrate-resistant Prostate Cancer Market, By Distribution Channel:
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Global Castrate-resistant Prostate Cancer Market, By Region:
North America
By Country:
U.S.
Canada
Latin America
By Country:
Brazil
Mexico
Argentina
Rest of Latin America
Europe
By Country:
U.K.
Germany
Italy
Spain
France
Russia
Rest of Europe
Asia Pacific
By Country
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East
By Country:
GCC
Israel
Rest of Middle East
Africa
By Country/Region:
South Africa
Central Africa
North Africa
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.
CONTACT: Mr. Shah Senior Client Partner – Business Development Coherent Market Insights Phone: US: +1-206-701-6702 UK: +44-020-8133-4027 Japan: +81-050-5539-1737 India: +91-848-285-0837 Email: sales@coherentmarketinsights.com Website: https://www.coherentmarketinsights.com