The Hormone Refractory Prostate Cancer (HRPCA) market is projected to grow at a rate of 8.9% in terms of value, from USD 8.56 Billion in 2019 to reach USD 17.05 Billion by 2030. Castration-Resistant Prostate Cancer or Hormone Refractory Prostate Cancer (HRPCA), a type of prostate cancer that generally recurs after administering androgen deprivation therapy, is gaining high relevance in the prostate cancer market.
The global HRPCA market is anticipated to expand at a significant pace, owing to huge unmet clinical need, very low survival benefits, growing prevalence rates, and fast-emerging treatment modifications. The market growth would pivot around certain breakthrough treatments responsible for reaping medical benefits. The ICD-10 (International Classification of Diseases, Tenth Revision) for hormone-refractory prostate cancer is used to identify a patient’s suffering from the disease from the medical records and also in case of reimbursement. Prostate cancer may lead to Osteosarcoma, hematuria, and the medications and therapy used for treatment are Bicalutamide, ZYTIGA®, Abiraterone, and Lupron. However, a dearth of awareness pertaining to new drugs and their prospective side-effects may create hindrances in the growth of the market in the forecast period
Promising drug pipeline, augmented patient awareness, emerging untapped non-metastatic CRPC space, and evolving treatment patterns are the factors that are beneficial for the market scenario. The large undiagnosed patient population, rising disposable income, rapid urbanization, improved government funding towards cancer, and developing awareness about prostate cancer would be the majority of the reasons responsible for unparalleled market growth. On the other hand, factors such as uncertain reimbursement policies, premium pricing of CRPC drugs, and lack of differentiation in the mechanism of deliverance among the approved and novel agents are likely to suspend the market growth.
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Agent Type Outlook:
Radio-Pharmaceuticals held a market share of 14.1% during the year 2018. This is because of the unavailability of drugs required for radiotherapy to the general consensus. The main products from this segment are the radiotracers, which locate the site of an anomaly. Further treatment is carried out using different methods.
Cytotoxic agents are set to expect the highest CAGR of 9.1% during the forecast period. These drugs have been in the market for some time, and the growth of this segment is imminent because of the availability as well as cost-effective nature of these drugs.
Treatment Type Outlook:
Radiation Therapy is anticipated to have the highest CAGR of 9.8% during the forecast period. It is a type of treatment that uses beams of intense energy to obliterate cancer cells. Radiation therapy most often uses X-rays, but other types of energy rays can also be used.
Chemotherapy held a substantial market share in 2019. This treatment type most frequently used for the treatment of cancer. Cancer has a significant impact on society in the US and across the globe. It has been estimated that 1,735,350 new cancer cases were diagnosed in the US, and 609,640 people suffered death from the disease. The number of new incidences of cancer is 439.2 per 100,000 men and women annually, and the number of cancer-related morbidities is 163.5 per 100,000 men and women annually. In the year 2019, an estimated USD 147.30 billion was spent on cancer care in the US. The use of these imaging techniques is causative of the increasing market demand.
Hospitals had held the largest market share of 37.8% in the year 2018. Mostly cancer-related treatments are done in hospitals where the patient is treated before the therapy is conducted. Certain measures and procedures need to be followed before the treatment, and hence, hospitals are considered as a major segment for end-users. The factors, including well-resourced diagnostic rooms, higher purchasing power, the existence of highly skilled healthcare professionals, and improved health coverage for hospital-based healthcare services from several private and group insurance plans, among others, are responsible for the high market share of hospitals.
Europe is forecasted to experience a CAGR of 8.8% during the forecast period. The European Commission’s Directorate for Health and Food Safety ensures the efforts of EU countries to protect and improve the health of their population and to ensure the resilience, effectiveness, and accessibility of their health systems. This policy promotes the market in this region.
North America held the largest market share of 32.0% in the year 2018. This large market share is owing to the highly developed treatment scenarios in this region. The demand for cancer treatment medicine is quickly growing due to its usage in a broad range of end-user verticals, which is expected to augment the market growth. Breakthroughs in technology, as well as in research which are happening across the region, are further driving the growth of this market.
- The hormonal Therapy segment held the largest market share of around 59.0% in the year 2019 and is projected to grow at a rate of 8.4% in the period 2020-2030.
- Ambulatory Surgical Centers are set to experience the highest CAGR of 10.0% during the forecast period. This is because of the benefits of ambulatory treatment where the patient is to let go without a stay at the center.
- Asia Pacific is forecasted to have the highest CAGR of 9.4% during the forecast period. A large population base and an increasing purchasing power parity of the people in the region are likely to drive the market demand in the upcoming years.
- Vaccines contributed to the second-largest market share in 2019 and is likely to grow at a rate of 8.7% in the forecast period.
Key participants include AbbVie Inc., Acceleron Pharma Inc., AB Science SA, AstraZeneca Plc., Astellas Pharma Inc., Boston Biomedical Inc., Dendreon Corporation, Sanofi SA, and Johnson & Johnson, among others.
The players operating in the market have undertaken a number of strategies related to the market in the period 2019-2020. Some of the key highlights are:
- In July 2019, Endo and Helsinn announced an agreement with Paladin Labs to commercialize Pracinostat in Canada.
- In February 2019, Endo announced a strategic change to unify its operating model, enhance the generics pipeline through substantial investments in hard-to-produce assets & technologies. Thus, transforming the branded business into a highly focused Specialty business.
The industry offers numerous growth opportunities. Thus, a number of startups providing innovative products and technologies have been entering the market. One such is Glactone Pharma, which developed a novel drug to treat castration-resistant prostate cancer when the tumor does not respond to anti-hormonal drug therapy.
Mergers and Acquisitions are an integral part of the industry. Along with the companies operating in the market, other key market players have also been entering the industry.
- In 2019, Takeda Pharmaceuticals acquired the Irish pharmaceutical manufacturer Shire for USD 60.3 billion, making it the highest takeover of a Japanese company. In order to complete the deal, Takeda had to modify its offer four times.
- In June 2018, Sanofi announced that it had completed its USD 4.8 billion acquisition of Ablynx, a pharmaceutical company based in Ghent, Belgium, that develops therapeutic proteins based on single-domain antibody fragments. This would benefit Sanofi in obtaining a stronger foothold in the industry of medicine.
- In 2019, Bioverativ Inc., a global biotechnology company, which focuses on the discovery, development, and commercialization of innovative therapies for rare blood disorders, announced that it had completed its acquisition of True North Therapeutics, a private, clinical-stage disease biotechnology company. The acquisition advances Bioverativ’s vision of becoming the leading rare disease company, which is focused on blood disorders.
Reports and Data forecasts promising developments for increased adoption of hormone-refractory prostate cancer (HRCPA). According to industry experts, the radiation therapy treatment type is garnering significant traction in the market. New companies entering the industry would emphasize designing and developing innovative products, thereby catering to the increasing requirement of end-users.
Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2019 to 2030. The scope of the report can be defined as:
For the purpose of this study, Reports and Data have segmented the hormone-refractory prostate cancer (HRCPA) market on the basis of Agent Type, Treatment Type, End-user, and region:
Agent Type Outlook (Revenue, USD Million; 2019-2030)
- Cytotoxic Agents
Treatment Type Outlook (Revenue, USD Million; 2019-2030)
- Hormonal Therapy
- Radiation Therapy
End-User Outlook (Revenue, USD Million; 2019-2030)
- Ambulatory Surgical Centers
- Specialty Clinics
Regional Outlook (Revenue, USD Million; 2019-2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Saudi Arabia
- Rest of the Middle East and Africa
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