Global outlook of the prostate cancer drugs market

Technavio’s market research analysts predict the global prostate cancer drugs market to grow steadily during the predicted period and post an impressive revenue of more than USD 10 billion by 2020. This industry research report identifies the preference of physicians towards the adoption of hormonal therapies to be one of the major factors that will have a positive impact on the growth of the drugs market for the treatment of prostate cancer. Hormonal therapies stop the growth of cancer cells by reducing the amount of testosterone in the body. Due to their effectiveness, hormonal therapies have an increased adoption among physicians. This increased preference will improve the sales of hormonal therapies including luteinising hormone blockers, GnRH blockers, anti-androgens, and abiraterone and will, in turn, propel the market’s growth prospects.

One of the major trends that will gain traction in this market is the advances in early stage diagnosis through new diagnostic methods. The emergence of novel diagnostic tests that will be more accurate than the conventional prostate-specific antigen (PSA) test will help scientists diagnose prostate cancer much better. New tests such as phi test, 4Kscore test, Progensa, TMPRSS2: ERG and ConfirmMDX will be more accurate in early stage diagnosis. This in turn, will enhance the patient pool and consecutively aid in the growth of the market.

Competitive landscape and key vendors

The market is characterized by the presence of a considerable number of prostate cancer drug manufacturers and appears to be highly fragmented. Since all vendors compete to gain significant revenue shares, the market appears to be highly competitive. The advances in R&D and the introduction of novel therapies will intensify the level of competition in the market. In addition to developing advanced drugs, prostate cancer drug companies also focus on acquiring other smaller vendors, which will increase their product portfolio and enhance their customer base.

The leading vendors in the market are -

• AbbVie
• Astellas Pharma
• AstraZeneca
• Johnson & Johnson
• Sanofi

The other prominent vendors in the market are Active Biotech, ADC Therapeutics, Advantagene, Advaxis Pharmaceuticals, ANI Pharmaceuticals, ArQule, Athenex Pharmaceuticals, Bavarian Nordic, Bayer HealthCare, BHR Pharma, BMS, Boehringer Ingelheim, Camurus, Cleveland BioLabs, CureVac, Dendreon, Dextech Medical, Eisai, Endo Pharmaceuticals, Ferring Pharmaceutical, Foresee Pharmaceuticals, GlaxoSmithKline, GTx, Innocrin Pharmaceutical, Inspyr Therapeutics, Io Therapeutics, Lidds AB, Merck Group, Myovant Sciences, Northwest Biotherapeutics, Novartis, Nymox Pharmaceuticals, OncoGenex, Oncolytics Biotech, Orion, Pharmamar, Progenics Pharmaceuticals, Sotio, Spectrum Pharmaceuticals, Synta, Takeda Pharmaceuticals, Teva Pharmaceutical, and Tokai Pharmaceuticals.

Segmentation by therapy and analysis of the prostate cancer drugs market

• Hormonal therapy
• Chemotherapy
• Immunotherapy
• Targeted therapy

During 2015, the hormonal therapy segment accounted for the major market shares and dominated the prostate cancer drugs​ industry. This is mainly due to the availability of a significant number of established drugs in the market such as AbbVie’s Lupron and AstraZeneca’s Zoladex. The effectiveness of these drugs in treating prostate cancer that leads to the increased acceptance of these novel therapies among physicians will drive the growth of the market in this segment.

Geographical segmentation and analysis of the prostate cancer drugs market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographical regions, the Americas will be the major revenue contributor to the drugs market for prostate cancer treatment throughout the predicted period. Factors such as the presence of multinational companies and the growing demand for targeted therapies and immunotherapies in the US and the rising awareness among individuals with prostate cancer in Canada and Brazil will fuel market growth in this region.

Key questions answered in the report include

• What will the prostate cancer drugs market size and growth rate be in 2020?
• What are the key factors driving the global prostate cancer drugs market?
• What are the key market trends impacting the growth of the global prostate cancer drugs market?
• What are the challenges to market growth?
• Who are the key vendors in the global prostate cancer drugs market?
• What are the market opportunities and threats faced by the vendors in the global prostate cancer drugs market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global prostate cancer drugs market?

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