Prostate Cancer Treatment Market is expected to reach US$ 34.11 billion by 2030

Hormone Therapy Segment Contributed Significantly to Prostate Cancer Treatment Market Size in 2022

According to our new research study on "Prostate Cancer Treatment Market Forecast to 2030 – Global Analysis – by Therapy Type, End User, and Geography" the market is expected to grow from US$ 19.07 billion in 2022 to US$ 34.11 billion by 2030; it is anticipated to record a CAGR of 7.5% from 2022 to 2030. The prostate cancer treatment market report emphasizes the trends prevalent in the global market, along with drivers and deterrents affecting its growth.

The increasing prevalence of prostate cancer and surging strategic initiatives by companies propel the prostate cancer treatment market growth. However, the high cost of prostate cancer therapy hinders the growth of the market. Further, the growing use of targeted therapy is expected to bring new prostate cancer treatment market trends in the coming years.

Prostate Cancer Treatment Market, by Region, 2022 (%)

Source: The Insight Partners Analysis

Growing Demand for Targeted Therapy to Bring New Trends in Prostate Cancer Treatment Market

Therapies such as ablation and chemotherapy destroy healthy cells along with infected/cancerous cells, which can worsen the overall patient condition. Targeted therapy, a type of personalized medicine, is designed in a way to selectively eliminate cancerous cells, keeping the function of healthy cells unhampered. This therapeutic approach involves a combination of two or more drugs designed to directly target the cancerous cells. With recent developments in medical technologies, emphasis on the implementation of targeted therapies for the treatment of prostate cancer is increasing notably. Similar to any other cancer research, prostate cancer research also focuses on studying cell mutations responsible for driving the uncontrolled growth of cells. In April 2023, the Food and Drug Administration (FDA) granted the fast-track trial designation for the ¹⁷⁷Lu-PNT2002 candidate introduced by Lantheus Holdings Inc and POINT Biopharma Global Inc for treating metastatic castration-resistant prostate cancer (mCRPC). ¹⁷⁷Lu-PNT2002 is an innovative lutetium-based radiopharmaceutical therapy that combines PSMA-targeted (i.e., prostate-specific membrane antigen-targeted) ligand, PSMA-I&T (a PSMA inhibitor), and beta-emitting radioisotope no-carrier-added ¹⁷⁷Lu for treating metastatic castration-resistant prostate cancer (mCRPC). In March 2022, the US FDA approved Novartis’s Pluvicto (Lu¹⁷⁷ vipivotide tetraxetan) for treating adult patients suffering from PSMA-positive mCRPC. Thus, the burgeoning awareness of benefits of targeted therapy among patients, and developments in clinical studies and product approvals fuel the prostate cancer treatment market growth.

By therapy type, the prostate cancer treatment market is segmented into surgery, radiation therapy, hormone therapy, chemotherapy, immunotherapy, and targeted therapy. In 2022, the hormone therapy segment held the largest prostate cancer Treatment market share. The chemotherapy therapy segment is expected to record the highest CAGR during 2022–2030. Chemotherapy is considered an important treatment for prostate cancer. In this therapy, drugs are used to destroy new or existing cancerous cells. Chemotherapy for metastatic prostate cancer can alleviate symptoms. It can also help reduce cancer and improve the quality of life. Docetaxel (Taxotere) is considered as the standard of care in prostate cancer chemotherapy in patients exhibiting resistance to hormone therapy. The FDA has also approved the chemotherapy drug cabazitaxel (Jevtana) for treating Castration-Resistant Prostate Cancer (CRPC). It is also used to treat patients affected by metastatic prostate cancer that has grown while taking docetaxel.

The noteworthy benefits of targeted therapy include specificity toward cancerous cells. The surging awareness of such benefits and launches of newer targeted therapy drugs such as olaparib fuel the growth of the market for the targeted therapy segment. In June 2023, AstraZeneca and MSD’s Lynparza (olaparib) in combination with prednisone or prednisolone and abiraterone was approved in the US to treat adult patients with suspected deleterious BRCA-mutated (BRCAm) mCRPC.

Based on End Users, the market is divided into hospitals, clinics and others. In 2022, the hospital segment held the largest prostate cancer treatment market share, and it is further expected to record the highest CAGR during 2022–2030. The hospital is an essential aspect of patient care in a healthcare facility. Next to the hospitals, hospital pharmacies exist which look after purchases compounding, storage, manufacturing, testing, dispensing, packaging, and distribution of pharmaceuticals. Prostate cancer drugs are sold in hospital pharmacies, wherein patients admitted to the hospitals can easily get the required products on time.

The prostate cancer treatment market analysis has been carried out by considering the following segments: therapy type and end users. By therapy type, the market is segmented into surgery, radiation therapy, chemotherapy, hormone therapy, immunotherapy, and targeted therapy. The therapy type segment is further divided into olaparib, rucaparib, and others. The hormonal therapy segment is divided into LHRH agonists, GnRH antagonists, androgen receptors inhibitors, androgen synthesis inhibitors, and others. Based on end users, the market is divided into hospitals, clinics and others.

The geographic scope of prostate cancer treatment market report includes the assessment of the market performance in North America (US, Canada, and Mexico), Europe (Spain, UK, Germany, France, Italy, and Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

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