Pune, April 26, 2023 (GLOBE NEWSWIRE) -- As per the report by SNS Insider, the Prostate Health Market was valued at USD 34.05 billion in 2022, and it is anticipated to grow at a CAGR of 8.8% during the forecast period of 2023-2030, reaching a market size of USD 66.86 billion.
Market Overview
Prostate health refers to the overall wellness of the prostate gland, which is a small gland located between the bladder and the penis in men. The prostate gland plays a vital role in the male reproductive system, as it produces and secretes a fluid that helps to nourish and protect sperm cells. Maintaining good prostate health is essential for men, especially as they age. Common prostate health issues include enlarged prostate, prostatitis, and prostate cancer. These conditions can cause a range of symptoms such as difficulty urinating, pain or discomfort in the pelvic area, and even sexual dysfunction.
Market Analysis
The prostate health market is experiencing a period of significant growth, with various factors contributing to this trend. One of the main drivers of this growth is the increasing number of innovations and FDA approvals by major players in the market. These innovations are leading to the development of new and improved products and services for the diagnosis, treatment, and management of prostate-related issues, which is driving demand in the market. Another factor contributing to the growth of the market is the emergence of pipeline drugs. These drugs are in the development stages and have shown promising results in clinical trials, which has generated a lot of excitement and interest in the market.
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Key Company Profiles Listed in this Report Are:
Some of the major key players are as follows: Astellas Pharma, Eli Lilly and Company, Glaxo SmithKline, Abbott Laboratories, Eli Lilly and Company, Abbvie, JOHNSON & JOHNSON SERVICES, INC., AstraZeneca, Merck, SANOFI, Pfizer inc, and other players.
Impact of Recession on Prostate Health Market Growth
It is worth noting that the impact of a recession on the prostate health market can vary depending on the severity and duration of the economic downturn. In some cases, the market may remain relatively stable, especially if there is a high demand for prostate health services due to a rise in the prevalence of prostate-related issues. Moreover, advancements in technology and treatment options can also influence the market, with new and innovative products and services driving demand even during an economic downturn.
Prostate Health Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 34.05 Billion |
| Market Size by 2030 | US$ 66.86 Billion |
| CAGR | CAGR of 8.8% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Prostate Health Market: Key Segmentation | • By Disease Indication (Prostate Cancer (AR Directed Therapies, Hormone ADT, Cytotoxic Agents, PARP Inhibitors), Benign Prostate Hyperplasia (Alpha Blockers, 5 Alpha Reductase), Prostatitis (Prescription, Over the counter) |
| Key Regional Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Key Regional Developments
The prostate health market is highly dependent on geography, with different regions showing varying levels of growth and demand. Currently, North America leads the market with the highest share. This can be attributed to several factors such as the high prevalence of BPH (benign prostatic hyperplasia) in the region, coupled with treatment innovations that have led to improved outcomes for patients. Moreover, the North American region benefits from advantageous reimbursement rules and a solid healthcare infrastructure that supports the development and delivery of prostate health products and services.
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Key Takeaway from Prostate Health Market Study
- The hormone ADT (Androgen Deprivation Therapy) segment is expected to register the fastest growth in the market. Androgen deprivation therapy is a common treatment option for patients with advanced or metastatic prostate cancer, which involves suppressing the production of testosterone in the body.
- The Alpha Blockers segment is expected to experience the fastest growth in the market. This segment is expected to witness significant growth due to increasing cases of benign prostatic hyperplasia (BPH) among men globally.
Recent Developments Related to Prostate Health Market
- Beta Drugs Limited, a pharmaceutical company based in India, has received approval from the Drug Controller General of India (DCGI) to launch Enzalutamide 160mg for the treatment of prostate cancer. Enzalutamide is an androgen receptor inhibitor that is used in the treatment of advanced prostate cancer.
- ESSA Pharma Inc., a clinical-stage pharmaceutical company, and Janssen Biotech, Inc., have announced that they will collaborate to evaluate the combination therapy of ESSA's investigational drug, EPI-7386, with Janssen's prostate cancer therapy, apalutamide, for the treatment of advanced prostate cancer.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Prostate health market Segmentation, By Disease Indication
9. Regional Analysis
10. Company Profiles
11. Competitive Landscape
12. Conclusion
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