Global Castrate Resistant Prostate Cancer Market, by Therapy Type (Hormonal Therapy, Immunotherapy, and Chemotherapy), by Drug Class (Antineoplastic, Non-steroidal Antiandrogen, Corticosteroids, Microtubule Inhibitor, and Others), by Route of Administration (Oral and Injectable), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 9.5 billion in 2021, and is expected to exhibit a CAGR of 8.2% during the forecast period (2021-2028).
The rising number of product approvals and launches is expected to drive growth of the global Castrate Resistant Prostate Cancer Market during the forecast period. For instance, on November 5, 2020, Lynparza (olaparib), developed by AstraZeneca and MSD (a part of Merck group), was approved in the European Union (EU) by the European Commission for patients with metastatic castration-resistant prostate cancer (mCRPC) who have a mutation in the breast cancer susceptibility gene 1/2 (BRCA1/2). AstraZeneca is a global, science-led biopharmaceutical company.
Moreover, increasing number of awareness programs related to prostate cancer by philanthropic organizations is expected to propel growth of the global Castrate Resistant Prostate Cancer Market during the forecast period. For instance, on June 21, 2021, Kareem Abdul-Jabbar, a National Basketball Association (NBA) legend and a prostate cancer survivor, collaborated on a new public service announcement (PSA) with the Prostate Cancer Foundation (PCF) and NBA Cares to raise awareness about an important men's health issue, prostate cancer. This program encourages men to get screened and understand their risks, the new PSA also provides an opportunity to address health-care inequities.
Global Castrate Resistant Prostate Cancer Market- Impact of Coronavirus (COVID – 19) Pandemic
The COVID-19 pandemic has affected several markets across the globe and is also expected to hamper growth the global Castrate Resistant Prostate Cancer Market. The COVID-19 pandemic has affected the demand and supply of healthcare products in three main ways; by directly affecting the production and demand; by creating disruptions in distribution channels; and due to its financial impact on firms and financial markets. Thus, impact of the coronavirus (COVID-19) pandemic is expected to limit the growth of the global Castrate Resistant Prostate Cancer Market during the forecast period, owing to the decline in cancer detection and surgical treatments. According to a news article published in the ‘American Cancer Society’ on June 28 2021, real-time electronic pathology reports from population-based cancer registries fell 10.2% in 2020 compared to 2019. Lung (17.4 %) and colorectal (12%) cancer had the greatest percentage declines, followed by breast (9.0%) and prostate (5.8%) cancer.
Browse 33 Market Data Tables and 25 Figures spread through 167 Pages and in-depth TOC on Global Castrate Resistant Prostate Cancer Market, by Therapy Type (Hormonal Therapy, Immunotherapy, and Chemotherapy), by Drug Class (Antineoplastic, Non-steroidal Antiandrogen, Corticosteroids, Microtubule Inhibitor, and Others), by Route of Administration (Oral and Injectable), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key Takeaways of the Global Castrate Resistant Prostate Cancer Market:
- The global Castrate Resistant Prostate Cancer Market is expected to exhibit a CAGR of 8.2% over the forecast period (2021-2028). North America is expected to account for major market share over the forecast period (2021-2028), owing to rising acquisitions, collaborations, and contract agreements within the market players. For instance, on January 13 2021, ESSA Pharma Inc., a clinical-stage pharmaceutical company, announced a clinical collaboration and supply agreement with Janssen Research & Development LLC to evaluate ESSA's EPI-7386 in combination with apalutamide, as well as EPI-7386 in combination with abiraterone acetate plus prednisone, in patients with metastatic castration-resistant prostate cancer (mCRPC).
- Some of the major players operating in the global Castrate Resistant Prostate Cancer Market include Sanofi, Johnson & Johnson Services Inc., Pfizer Inc., Astellas Pharma Inc., Bayer AG, Bristol Myers Squibb, Merck Sharp & Dohme, Novartis International AG, Eli Lilly & Company, and AstraZeneca plc.
