LONDON--(EON: Enhanced Online News)--According to the latest market study released by Technavio, the global prostate cancer drugs market is expected to post an impressive revenue of more than USD 10 billion by 2020.
“Immunotherapies are gaining traction in this market and are expected to garner significant share during the forecast period, owing to its specificity and efficacy”
This research report titled ‘Global Prostate Cancer Drugs Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
“The advances in early stage diagnosis of prostate cancer with the development of new diagnostic tests such as phi test, and Progensa are expected to substantially increase the patient pool, thereby driving market growth,” says Sapna Jha, a lead analyst at Technavio for in-vitro diagnostics research.
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The global prostate cancer drugs market can be categorized based on therapy into four segments:
- Hormonal therapy
- Targeted therapy
Hormonal therapy involves the application of several pharmacologic agents that help in the reduction of testosterone levels in men. Hormonal therapy dominated the prostate cancer market with a share of 80% in 2015. Hormonal therapies such as Johnson & Johnson’s Zytiga and and Astellas Pharma’s Xtandi will continue to drive the market during the forecast period.
Though chemotherapy is not a standard treatment for early prostate cancer, it is used in cases where hormonal therapy does not work. Chemotherapy drugs enter the bloodstream and travel throughout the body. This treatment is basically useful for cancers that have metastasized to distant organs. Sanofi’s Taxotere and Jevtana are the key drugs in the global chemotherapy prostate cancer drugs market. These drugs reported a revenue of approximately USD 500 million in 2015. In addition, the emergence of combination drugs is expected to have a positive impact on the market growth.
Immunotherapy is a treatment option for advanced or recurrent forms of prostate cancer. This therapy makes use of the body's immune system to fight cancer. Immunotherapy works by either stimulating the immune system to attack cancer cells or by providing the immune system with antibodies to compete with cancer. This treatment method may be used alone or in combination with other treatments, such as radiation therapy and hormone therapy.
“Immunotherapies are gaining traction in this market and are expected to garner significant share during the forecast period, owing to its specificity and efficacy,” says Sapna.
Targeted therapy is used as a treatment option for prostate cancer when the cancer recurs or when a patient's tumor can be brought under control at an earlier stage by manipulating its growth signals. This therapy makes use of drugs that help identify and attack cancer cells, while little damage is done to the normal cells.
Bayer HealthCare’s Xofigo reported a revenue of USD 285 million in 2015, reporting a YoY growth of 37%. This indicates growing interest, leading to increased adoption of targeted therapies during the forecast period.
The top vendors highlighted by Technavio’s healthcare and life sciences research analysts in this report are:
- Astellas Pharma
- Johnson & Johnson
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