According to the forecast, North American revenues are expected to accumulate a revenue share of 45% in 2023. As prostate cancer diagnosis investments rise in North America, the region will dominate the market.
The global Prostate Cancer Market is anticipated to be worth around US$ 10.92 billion in 2023, with a CAGR of 8.5% through 2033. The market is expected to be worth US$ 24.7 billion by 2033. Recent pharmaceutical development advances, an increasing number of FDA-approved treatments, and a robust growth rate in the market for hormone-refractory glandular cancer drugs are projected to drive market expansion in the next years.
Aside from an ageing population, high disposable money contributes to market growth. Expansion will be driven by rising cancer prevalence rates, changing population fashion choices, improved patient knowledge, and a desire for non-invasive therapy.
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This sickness can be treated with targeted or biological therapy, chemotherapy, and hormone therapy. The FDA has approved new research for treatments and drugs that will be available in the near future. Pre-biopsy MRIs, according to a recent study conducted by Moon Hyung Choi and colleagues, can effectively prevent needless biopsies in persons with PSA levels greater than 20 ng/ml.
Key Takeaways from the Market Study
“New drug development and therapies are being studied in greater numbers. At-home chemotherapy and oral chemotherapy are in high demand. A reimbursement scheme that covers affordable generics will reduce coverage for expensive therapies, says an analyst at FMI.
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Competitive Landscape
The availability of oral chemotherapy is one of the primary factors driving rising demand. Instead of incurring large medical costs, preventative measures should be implemented. Companies with a broad geographic reach are adopting collaborative sales strategies, such as integrating several businesses into one to generate more diverse medical items, in order to expand to more complex applications.
Competitors are increasing their market presence through astute and profitable agreements. Acquisitions and collaborations allow companies to make greater use of cutting-edge technologies. Home health clinic businesses engage in a range of transactions in order to expand their technological horizons.
? Telix Pharmaceuticals Limited is pleased to announce that the results of its pivotal Phase III ZIRCON project for TLX250-CDx have been selected for oral presentation at the ASCO GU Symposium, which will be held in San Francisco, CA from February 16-18, 2023. Telix will offer six further presentations on its theranostic prospects targeting carbonic anhydrase IX (CAIX) and prostate-specific membrane antigens (PSMA) as part of the programme. This talk will include improvements in Prostate Cancer PET imaging using PSMA-11, prospective applications of TLX250-CDx outside of ccRCC, and the STARLITE Phase II studies, which are determining whether TLX250 targeted radiation paired with immunotherapy is effective in treating ccRCC.
More Valuable Insights Available
The Prostate Cancer Therapeutics Market is a rapidly growing segment of the oncology market that focuses on the prevention, diagnosis, and treatment of Prostate Cancer. Prostate Cancer is one of the most commonly diagnosed cancers in men, and it can be a serious and life-threatening condition if left untreated. The market includes a range of products and services, including diagnostic tests, imaging technologies, surgical and radiation therapies, and medications.
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Key Segments Profiled in the Prostate Cancer Industry Survey
Prostate Cancer Market by Drug Class:
Prostate Cancer Market by Distribution Channel:
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Jul 03, 2023
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