Global castration resistant prostate cancer treatment market 2017-2021
About Castration-Resistant Prostate Cancer (CRPC) Treatment
Prostate cancer is also known as carcinoma of the prostate is cancer of the prostate gland that affects only the male population. It is a slow progressive disease. CRPC is an inveterate stage of prostate cancer, in which almost 90% of individuals develop metastases, specifically in the skeleton. The major therapies involved in the treatment of CRPC are hormonal therapy and chemotherapy.
Technavio’s analysts forecast the global castration-resistant prostate cancer treatment market to grow at a CAGR of 9.01% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global castration resistant prostate cancer treatment market for 2017-2021. To calculate the market size, the report considers sales of branded, generic, and off-label drugs.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Castration-Resistant Prostate Cancer (CRPC) Treatment Market 2017-2021
Technavio recognizes the following companies as the key players in the global castration-resistant prostate cancer treatment market: Astellas Pharma, Johnson & Johnson, Sanofi, and Valeant.
Other Prominent Vendors in the market are: Active Biotech, Advaxis, ANI Pharmaceuticals, Athenex, Bavarian Nordic, Bayer, Bristol-Myers Squibb, CureVac, GlaxoSmithKline, Innocrin Pharmaceutical, Merck, Myovant Sciences, Northwest Biotherapeutics, OncoGenex Pharmaceuticals, Oncolytics Biotech, Orion, Sotio, Madrigal Pharmaceuticals), Takeda Pharmaceutical, and Teva Pharmaceutical Industries.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing consolidation in cancer treatment market. The oncology drugs industry has seen significant R&D and funding, which are largely responsible for the increasing consolidation of the industry. The rising trend of movement of cancer treatment from clinics to hospitals signifies the growing importance of strategic alliances and acquisition among the vendors.”
According to the report, one driver in the market is physician’s preference toward hormonal therapy. The abnormal growth in testosterone level characterizes prostate cancer. Therefore, hormone therapies, which control the secretion of this hormone and help reduce the growth of prostate cancer cells, remain the most sought-after therapy for treating CRPC. The proven efficacious profiles of these therapies with established clinical credentials have led to increased adoption among physicians. Hormonal therapies dominate the global CRPC treatment market and are expected to continue with the same during the forecast period.
Further, the report states that one challenge in the market is high cost of treatment. The high cost of treatment is a major problem for the CRPC patients across the globe. Many of the treatment options available for the individuals are out of their budget and ultimately forces the individual or the payer to skip the treatment. Virtual monopoly among the drug manufacturers and the high cost of R&D are some of the major factors for the high cost of CRPC treatment. A large proportion of population either skip the treatment or leave it in the middle.
Astellas Pharma, Johnson & Johnson, Sanofi, Valeant, Active Biotech, Advaxis, ANI Pharmaceuticals, Athenex, Bavarian Nordic, Bayer, Bristol-Myers Squibb, CureVac, GlaxoSmithKline, Innocrin Pharmaceutical, Merck, Myovant Sciences, Northwest Biotherapeutics, OncoGenex Pharmaceuticals, Oncolytics Biotech, Orion, Sotio, Madrigal Pharmaceuticals, Takeda Pharmaceutical, and Teva Pharmaceutical Industries
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