Research Nester’s recent market research analysis on “Non-Metastatic Castration-Resistant Prostate Cancer (nmCRPC) Treatment Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a detailed overview of the global non-metastatic castration-resistant prostate cancer (nmCRPC) treatment market in terms of market segmentation by therapy type, application, and by region.
Growing R&D Activities to Find Cure for Cancer to Drive Growth of Global Non-Metastatic Castration-Resistant Prostate Cancer (nmCRPC) Treatment Market
The global non-metastatic castration-resistant prostate cancer (nmCRPC) treatment market is estimated to grow on the back of a rising number of people who are ages 65 or above across the globe. It was estimated that non-metastatic castration-resistant prostate cancer (nmCRPC) occurs generally in people above 50. Hence, the rising geriatric population is anticipated to be one of the major factors to hike the market growth over the forecast period. For instance, as of 2020, the total number of people aged 65 and above was stated to reach 758,631,369 in 2021. The prostate is a gland that is found in men and produces seminal fluids. Cancer associated with the prostate is the higher accumulation of prostate-specific antigens. The availability of many types of therapy in modern times to treat nmCRPC such as, chemotherapy, medication therapy, radiation therapy, and others is projected to boost the market growth over the forecast period.
In addition to these, the escalation in the prevalence of non-metastatic castration-resistant prostate cancer (nmCRPC) across the globe is observed to boost the demand for its treatment which is anticipated to hike the market growth over the forecast period. based on the data provided by the National Cancer Institute of the U.S. Department of Health and Human Services, it was stated that around 33,3330 people lost their lives owing to prostate cancer while 191,930 new cases of prostate cancer were diagnosed in the United States. On the other hand, the boom in R&D activities to find cures for various types of cancer backed by the development of new drugs and biomarkers is also anticipated to hike the market growth over the forecast period. For instance, cancer research and development activities were projected to rise by 50% across the globe in 2021. Hence, all these factors are estimated to hike the market growth over the forecast period.
Some of the major growth factors and challenges that are associated with the growth of the global non-metastatic castration resistant prostate cancer (nmCRPC) treatment market are:
Growth Drivers:
· Surge in R&D Activities in Oncology Segment
· Rising Instances of Other Types of Cancer
Challenges:
Lack of awareness about the disease in lower economic regions and lack of skilled medical professionals are some of the major factors anticipated to hamper the growth of the global non-metastatic castration resistant prostate cancer (nmCRPC) treatment market. In lower economic regions, people are not aware of the treatment methods of nmCRPC owing to the lack of government funding and program. Furthermore, the treatment methods of nmCRPC are noticed to be quite expensive. Various types of therapies are given based on the condition of cancer such as particle therapy, brachytherapy, chemotherapy, hormonal therapy, radiosurgery, and others.
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By therapy type, the global non-metastatic castration resistant prostate cancer (nmCRPC) treatment market is segmented into chemotherapy, immunotherapy, radiotherapy, hormonal therapy, and others. The hormonal therapy segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. The growth of the segment can be ascribed to the better efficiency of hormonal therapy. This type of therapy is noticed to be most beneficial for breast and prostate cancer. These types of cancer grow on hormones and can be life-threatening if not treated or diagnosed at the right time. For instance, it was anticipated that approximately 650,000 women died on account of breast cancer in 2020. Hormonal therapy is used at a high scale along with radiation therapy and surgery. Hence, these factors are anticipated to hike the market growth over the forecast period.
By region, the North America non-metastatic castration resistant prostate cancer (nmCRPC) treatment market is to generate the highest revenue by the end of 2035. This growth is anticipated by a higher prevalence of cancer in the region and the escalated utilization of non-metastatic castration-resistant prostate cancer (nmCRPC) treatment methods to heal other types of cancers as well. The therapy and surgeries used to treat nmCRPC are also noticed to be beneficial for treating breast, lung, and skin cancers. For instance, in North America, around 1 million cases of cancer were found and 12% of them were stated to be prostate cancer. On the other hand, the European non-metastatic castration resistant prostate cancer (nmCRPC) treatment market is also estimated to hold the second-largest share over the forecast period. The growth of this segment can be ascribed to the rising development of novel drugs in the region and increasing cases of prostate cancer..
This report also provides the existing competitive scenario of some of the key players of the global non-metastatic castration resistant prostate cancer (nmCRPC) treatment market which includes company profiling of Pfizer Inc, Astellas Pharma Inc., Clovis Oncology, Inc., Johnson & Johnson Health Care Systems Inc., Bayer AG, Orion Corporation, Merck & Co., Inc., Novartis AG, AstraZeneca PLC, and others.
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