Wellesley, Mass, April 05, 2017 (GLOBE NEWSWIRE) -- New proprietary research by BCC Research reveals that an expanding population of prostate cancer patients, increasing treatment demand, and emerging technologies are moving the prostate cancer global market. By 2021, the market is estimated to reach $65.1 billion, up from $47.2 billion in 2016, based on a 6.6% CAGR.
BCC Research's Prevention and Treatment of Prostate Cancer reports market growth is expected in the U.S., Europe, Japan, Brazil, and Canada due to new products entering the market. The expected launch and adoption of many of these innovative drugs, which will enable the entry of new companies into the prostate cancer therapeutics market, should significantly push the market.
Research Highlights
- The U.S. is predicted as the largest and the fastest-growing market from 2016 to 2021.
- A significant shift is occurring in the diagnosis and treatment of early-stage prostate cancer via advances in molecular biology, genetics and biotechnology.
- The increase in diagnostic tests and the launch of innovative drugs and technologies are driving the prostate cancer products segment.
"Changes in lifestyle and technological advancements also will support the market," says Kevin Fitzgerald, BCC Research editorial director. "However, the high cost of treatment, the side effects of surgery and surgical risks will remain challenges to overall growth."
Treatment Options Needed for Disease-Resistive Patients
Surgery and radiotherapy are often curative when treatment is indicated for localized disease, with androgen deprivation therapy (ADT) being the standard of first-line care. However, most patients ultimately develop resistant disease, for whom treatment options have historically been limited.
"A clear clinical need to diversify the treatment options for this patient cohort exists,” Fitzgerald says. "The current late-stage drugs in development for prostate cancer address this clinical need. However, results have been mixed, with none demonstrating the clinically transformative efficacy of safety. As a result, the growth in prostate cancer prevalence from a global aging population is expected as a key market driver during the forecast period."
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.