Pune, March 17, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global hormone-refractory prostate cancer (HRPCA) market is expected to grow from USD 7.13 billion in 2020 to USD 18.35 billion by 2028, at a CAGR of 9.64% during the forecast period 2021-2028.
Promising pipeline drugs is one of the factors fuelling the hormone-refractory prostate cancer (HRPCA) market.
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Normally early-stage prostate cancer requires a normal level of testosterone to grow, but hormone-refractory prostate cancer (HRPCA) does grow even when the testosterone level is kept very low, and that’s why it is called Castrate-Restraint Prostate Cancer (CRPC). For diagnosis of Hormone Refractory Prostate Cancer(HRPC) prostate biopsy is the solution. The prevalence of this cancer, advancement in technologies and high unmet requirement are some of the factors fuelling Hormone Refractory Prostate Cancer Market. As two of the best emerging economies are in the Asia Pacific region, there is a great scope of this market in this region. The rise in the awareness of the people about this cancer and the types of treatment for it will drive this market. The prostate cancer at initial stages usually does not show any symptoms. In the advancing stages, the symptoms can be seen. The high cost of the treatment, uncertain reimbursement policies and little life expectancy are some of the factors that are acting as a restraint for the market. The increase in the education rate in the emerging economies are creating the awareness about the types of cancer and the types of treatment required for the treatment. This sets a good soil for the expansion of this market in this region. Also, in the developing countries, there is a large scope with the large undiagnosed patient population, who just got aware about their health because of health concern trend among them. This also drives the market.
The premium pricing, which is blocking or making people reluctant of the treatment compounded with the reimbursement policies, which is also very uncertain, is the main factor restraining the market. The prostate cancer mostly affects old age people. So the rising geriatric population in the developed economies could show rising cases of Hormone Refractory Prostate Cancer (HRPCA), which will fuel this market.
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Key players operating in the global Hormone Refractory Prostate Cancer (HRPCA) market include AbbVie Inc., AcceleronPharma Inc., AB Science SA, AstraZeneca Plc., AstellasPharma Inc., Boston Biomedical Inc., Dendreon Corporation, Sanofi S.A, Johnson & Johnson and BioverativInc among others.
• The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances and partnerships to improve their market position in the global Hormone Refractory Prostate Cancer (HRPCA) industry. For instance, in June 2018, Sanofi announced that it had completed the acquisition of Ablynx, a pharmaceutical company based in Ghent, Belgium, that develops therapeutic proteins based on single-domain antibody fragments. This acquisition would benefit Sanofi in obtaining a stronger foothold in the industry of medicine.
• For instance, in 2017, Bioverativ Inc. acquired True North Therapeutics. The acquisition is in the direction of Bioverativ’s vision of becoming the leading rare disease company, concentrated on blood disorders
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Hormonal therapy segment is dominating the market with the highest market value of USD 4.12 Billion in 2020
Treatment type segment include chemotherapy, hormonal therapy, immunotherapy, radiation therapy, surgery and others. The hormonal therapy segment is accounted for the largest market value of USD 4.12 Billion in 2020. The major consensus resorts to this treatment method because of the high amount of successful research in this technique.
Hospitalssegment is dominating the market with the highest market value of USD 2.7 Billion in 2020
The end-user segment includes Hospitals, Ambulatory Surgical Centers, Specialty Clinics and Others. Hospitals had held the largest market value of USD 2.7 Billion in the year 2020. This is because cancer treatments happens in hospitals and in Cancer specialized hospitals.
Regional Segment Analysis of the Hormone Refractory Prostate Cancer (HRPCA) Market
• North America (U.S. , Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
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The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. North America is accounting for the largest market value of USD 2.38 Billion in 2020, owing to the highly developed treatment scenarios in this region. The advancement in technologies, investment in R &D and the promising drugs in the pipeline are also the reason that North America region has the highest market value. Asia-Pacific is forecasted to have the highest CAGR of 9.34% during the forecast period. The biggest economies of the world India and China would be the most important region for this market. The increase in the education rate in the emerging economies are creating the awareness about the types of cancer and the types of treatment required for the treatment. There are many untapped region for this market. But because of the high price of the treatment, the companies would focus on the emerging countries where the per capita income of the people are increasing. The biggest economies of the world India and China would be the most important region for this market. As the disposable income of the people have increased, they are looking for better quality of life which include better health care and better treatment.
About the report:
The global Hormone Refractory Prostate Cancer (HRPCA) market is analysed on the basis of value (USD Billion).All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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