Prostate Cancer Therapeutics Market

The prostate cancer therapeutics market is projected to increase from US$ 17.37 billion in 2024 to US$ 30.83 billion by 2031, with an expected CAGR of 8.5% from 2025 to 2031.

Market Insights and Analyst Perspective:The prostate cancer therapeutics market is growing due to heightened R&D efforts aimed at developing new drug compounds, a rising incidence of prostate cancer cases, and increased government support for prostate cancer diagnostics. Furthermore, the availability of advanced products from market players is propelling market expansion. In January 2023, BDR Pharmaceutical introduced a generic version of Apalutamide, marketed as APATIDE, in India, which is used to treat non-metastatic castration-resistant prostate cancer and metastatic castration-sensitive prostate cancer.

Growth Drivers and Challenges:Prostate cancer ranks among the most prevalent health issues for men, particularly those aged 50 and older. It is more common in men who are obese or have a family history of the disease. Often, prostate cancer develops silently without noticeable symptoms, making early detection challenging. Most prostate cancers begin in the peripheral zone of the prostate gland, and symptoms typically emerge only when the cancer grows large enough to press on the urethra, or when bone pain from metastasis occurs. Men aged 50 and above experiencing lower urinary tract symptoms, erectile dysfunction, or hematuria should consider the possibility of prostate cancer. Globally, prostate cancer is the fifth leading cause of cancer-related deaths among men and the second most frequently diagnosed cancer. Although there has been a decline in prostate cancer incidence since 2000, cases of late-stage prostate cancer have been on the rise since 2010. Incidence and mortality rates vary significantly, with developed countries generally reporting higher incidence but lower mortality rates. In the US, the risk of prostate cancer is nearly four times higher than the global average. According to Novartis AG, approximately 1.4 million new prostate cancer cases and around 375,000 deaths were reported worldwide in 2020. The increasing global incidence of prostate cancer and low detection rates are key factors driving the growth of the prostate cancer therapeutics market.

Strategic Insights

Report Segmentation and Scope:The prostate cancer therapeutics market is categorized by therapy type, end user, and geography. By therapy type, it includes hormone therapy, chemotherapy, immunotherapy, targeted therapy, and others. By end user, it is divided into hospitals, specialty clinics, and others. Geographically, the market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

Segmental Analysis:The prostate cancer therapeutics market is segmented by therapy type into hormone therapy, chemotherapy, immunotherapy, targeted therapy, and others. In 2022, the hormone therapy segment held the largest market share after chemotherapy, and it is expected to achieve the highest CAGR from 2022 to 2030. Chemotherapy remains a crucial treatment for prostate cancer, as it involves drugs that target and destroy both new and existing cancer cells. Chemotherapy can alleviate symptoms of metastatic prostate cancer, reduce tumor size, and enhance quality of life. Docetaxel (Taxotere) is the standard treatment for chemotherapy in patients resistant to hormone therapy, while cabazitaxel (Jevtana) has also been approved by the FDA for treating castration-resistant prostate cancer, particularly in patients whose cancer has progressed during docetaxel treatment.

Regional Analysis:The prostate cancer therapeutics market is analyzed by region, including North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. North America is the leading contributor to the global growth of the prostate cancer therapeutics market, while Asia Pacific is anticipated to exhibit the highest CAGR from 2022 to 2030. The growth of the prostate cancer therapeutics market in the US is primarily driven by the rising incidence of prostate cancer, new product launches, and government initiatives. For instance, in June 2023, AstraZeneca and MSD's Lynparza (olaparib) was approved in the US for treating adult patients with suspected deleterious BRCA-mutated (BRCAm) metastatic castration-resistant prostate cancer (mCRPC). Additionally, in November 2023, the FDA approved enzalutamide, manufactured by Astellas Pharma US, Inc., for treating non-metastatic castration-sensitive prostate cancer (nmCSPC) with a high risk of metastasis.

Prostate Cancer Therapeutics Market Report ScopeIndustry Developments and Future Opportunities:Key initiatives by major players in the prostate cancer therapeutics market include:

In March 2022, the US FDA approved Novartis's Pluvicto (lutetium Lu 177 vipivotide tetraxetan) for treating adult patients with advanced prostate cancer known as prostate-specific membrane antigen-positive metastatic castration-resistant prostate cancer (PSMA-positive mCRPC).

In April 2023, the FDA granted fast track designation to Lantheus Holdings Inc and POINT Biopharma Global Inc for 177Lu-PNT2002, aimed at treating metastatic castration-resistant prostate cancer (mCRPC). PNT2002 is an innovative PSMA-targeted 177Lu-based radiopharmaceutical therapy that combines a PSMA-targeted ligand, PSMA-I&T, with a beta-emitting radioisotope, no-carrier-added 177Lu for mCRPC treatment.Competitive Landscape and Key Companies:Prominent players in the prostate cancer therapeutics market include Astella Pharma Inc, Johnson & Johnson Services Inc, Eli Lilly and Company, Bayer AG, Sanofi, Merck KGaA, AstraZeneca, Novartis AG, AbbVie, and Bristol Myers Squibb. These companies focus on launching new products and expanding geographically to meet the growing global demand and enhance their specialty product portfolios. Their international presence enables them to cater to a broad customer base, thereby facilitating market growth.