Global prostate cancer therapeutics market is rapidly growing due to increase in incidence of prostate cancer and increase in ageing population. In addition, technological advancements in prostate cancer treatment such as radiation therapy and targeted therapy are expected to boost the prostate cancer therapeutics market. However, patients in underdeveloped and developing regions cannot afford the high costs of treatment and diagnosis of cancer can hinder market growth. In addition to this, low diagnostic rates due to unawareness about prostate cancer symptoms is hampering the prostate cancer therapeutics market.
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Global prostate cancer therapeutics market segmented based on route of administration, drug class and distribution channel
Based on drug class prostate cancer therapeutics market is segmented into
Immune System Modulators
Based on route of administration, prostate cancer therapeutics market is segmented into
Based on distribution channel, prostate cancer therapeutics market is segmented into
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New tests such as phi test, 4Kscore test, Progensa, TMPRSS2 ERG and ConfirmMDX will be more accurate in early stage diagnosis. This, in turn, aids in increasing diagnosis rate and consecutively aid in the growth of the market. Prostate cancer therapeutics market has large and small players and market is highly competitive. Players adopting acquisitions, mergers and collaborations to stenghten product offerings in prostate therapeutics market. For instance, in September 2017, Pfizer acquired Medivation, this acquisition represents opportunity to expand the business offering with an attractive pipeline and with xtandi, medicine for men with prostate cancer. Moreover, In April 2016, TESARO, Inc., an oncology-focused biopharmaceutical company, and Janssen Biotech Inc., one of the Janssen Pharmaceutical Companies of Johnson & Johnson, announced a global collaboration and license agreement focused on the development and commercialization of niraparib specifically for the treatment of prostate cancer.
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Geographically prostate cancer therapeutics market has been segmented into following regions Viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America expected to have major market share owing to increased research and development, developed healthcare infrastructure and high rate of prostate cancer incidents. In 2017, the American Cancer Society predicts that there will be around 161,360 new diagnoses of prostate cancer and that around 26,730 fatalities will occur because of prostate cancer in America alone. Europe is anticipated to grow at significant rates due to increase in prevalence rates and developed healthcare infrastructure facilities. Asia Pacific region expected to be fastest growing due to developing healthcare infrastructure facilities and increased research and development focused on cancer therapeutics.
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Some of the market players in prostate cancer therapeutics market include Johnson & Johnson Services Inc. (U.S.), AbbVie, Inc.(U.S.), Amgen, Inc.(U.S.), AstraZeneca (U.K), Ipsen Group(France), Sanofi (France), Dendreon Corporation (Sanpower Group Co. Ltd.) (U.S.), Bayer AG (Germany) Endo Pharmaceuticals, Inc. (U.S), and Pfizer, Inc (U.S.) to name a few.