The prostate is a compound tubuloalveolar exocrine gland of the male reproductive system. Most prostate cancers develop slowly; there are, however, cases of aggressive prostate cancers. Cancer cells can metastasize (spread) to other parts of the body from the prostate, particularly the bones and lymph nodes. Prostate cancer is the second leading cause of new cancer cases in males worldwide and the sixth leading cause of death in males due to cancer.
The demand for therapeutics is now higher than before on account of the rising prevalence of prostate cancer. Statistically, the American Society of Clinical Oncology has predicted that an estimated 191,930 men will be diagnosed with prostate cancer in the U.S. in 2020.
The prostate cancer therapeutics market was valued at USD 10,368 million in 2019 and is expected to grow with a CAGR of 8% during the forecast period.
To achieve optimal cancer treatment, recent advances in prostate cancer therapeutics have incorporated different bioinformatics and computational biology applications. With a focused strategy, including proteome profiling, exome sequencing, and whole-genome, market players have found a successful approach to develop potential cure and treatment. An excellent example of this can be gained from Biopep Solutions, Inc. This Canada-based company focuses its efforts on the development of BPS-001, which is a complex, multivalent biologic drug that possesses anti-tumor attributes. There is a huge demand for innovation in the prostate cancer therapeutics market for products that have enhanced survival time, less toxicity, increased progression-free survival, increased efficacy, and lower cost.
A statistical analysis reported by the National Cancer Institute under the National Institute of Health (The U.S.) depicts that out of roughly 200,000 cases that were reported in 2020, there were 34,000 deaths from prostate cancer, representing a mortality rate of 5.5%. Furthermore, the analysis suggests that 12.1% of men are expected to develop prostate cancer in their lifetime. Recently, research funding was approved by the World Cancer Research Fund International that promotes such R&D activities. The majority of cases of prostate cancer are diagnosed in men over 65, according to the Prostate Cancer Foundation. Therefore, in developing countries, the continuous growth in the geriatric population and the sedentary lifestyle is surging the incidence of prostate cancer.
Hospitals remain the predominant medium of care, despite the increasing number of outpatient surgical centers and clinics focused on providing therapies for prostate cancer treatment. This leads to strong sales by hospital pharmacies of prostate cancer therapeutics, which are expected to account for a substantial amount of market share. Also, the segment is expected to witness momentum due to an increase in admissions of geriatric patients in hospitals and laboratories for the diagnosis of old age-related disease. In addition, hospitals internationally are introducing innovative and efficient techniques, such as drug repositioning, to treat prostate cancer efficiently without dangerous side effects.
The hormone therapy segment dominates the prostate cancer therapeutics market during the forecast period. Hormonal therapy aims to reduce levels of male hormones, androgens, in the body; thus, stopping them from fueling prostate cancer cells. Additionally, the therapy is low cost and gives a better market reach.
However, the rapid development and adoption of immunotherapy drugs are expected to result in the fast growth of this drug class. In cases where the patient's prostate cancer is resistant to testosterone level reduction via hormone therapy, treatment options become very limited. Immunotherapy can be used in such conditions for therapeutic actions. Presently, only two FDA approved options for immunotherapy are available in the prostate cancer market, Sipuleucel-T (Cancer Vaccine) and Pembrolizumab (Immunomodulators). However, for patients with advanced prostate cancer, multiple immunotherapy options are currently in clinical trials.
Active Participation by the Government and Key Players in North America Drives the Market Growth North America holds the largest market share on account of the high prevalence of prostate cancer in the region. For instance, the American Cancer Society reports that prostate cancer is the most common cancer in American men. The estimates for prostate cancer in the U.S. for 2020 states about 33,330 deaths from prostate cancer.
With the growing number of patients, the sales of drugs and therapies have grown, giving higher revenue and boost to the market. Moreover, the presence of key market players in the region, such as Amgen, Inc.Johnson & Johnson (Janssen Biotech, Inc.), Pfizer, Inc. that are focused on the development and efficiency of therapeutics provides an impetus to the market growth.
Sipuleucel-T developed by Dendreon Pharmaceuticals is cell-based cancer immunotherapy for prostate cancer. It is a personalized treatment approved by the FDA that works by programming each patient's immune system to seek out cancer and attack it as if it were foreign. Additionally, governmental support in research and development fuels market growth. For instance, Prostate Cancer Canada is established to support research, cure, and prevention of prostate cancer.
The rising prevalence of prostate cancer in European regions, predominantly in France and Norway, has surged the need for early detection and treatment therapies. The Global Cancer Observatory, owned by the International Agency for Research on Cancer (IARC), reported that Guadeloupe, France had the highest rate of prostate cancer with an incidence rate of 189.1 per 100,000. Also, countries such as Ireland and the U.K. have witnessed a significant rise in the disease that has fueled market growth. As a result, several government organizations have taken initiates to spread awareness about prostate cancer. For instance, Prostate Cancer U.K. funds research into finding better ways to diagnose prostate cancer and developing better therapeutics regime.
Asia-Pacific is projected to be the fastest-growing market for prostate cancer. Manufacturers in the region are concentrating on hormonal therapies such as antiandrogens and luteinizing hormone-releasing hormone antagonists. In addition, the increase in awareness through programs organized by organizations and companies drives market growth.
Government participation in raising awareness through programs and online portals that provide comprehensive information for male patients over 50 years of age about screening & diagnosis through PSA blood tests and DRE accelerates market growth. In India, September has been declared as Prostate Cancer Awareness month, and the incidence rate of prostate cancer is 9–10/100000 population, which is higher when compared to other countries in the APAC region, as reported by the Indian Council of Medical Research (ICMR). In China, for example, key players are partnering with the local and governmental organizations, such as the Chinese Urological Association, to perform research activities for prostate cancer care.