Non-Metastatic Castration Resistant Prostate Cancer Treatment Market Trends

Growth Drivers

• Growing Prevalence of Prostate Cancer – the main cause of prostate cancer is still not known, although aging can be a major factor in this disease. Additionally, ethnic group factor has also been noticed where black men were more likely to get prostate cancer than Asian men. For instance, it was estimated that around 100 new cases of prostate cancer are diagnosed every year per 100,000 men across the globe.

• Rising Geriatric Population Across the Globe – growth in the geriatric population is expected to be one of the major factors to boost the market growth over the forecast period since it has been noticed by medical professionals that the chances of prostate cancer are much higher in men above 50. For instance, data represented by the World Bank, it was stated that in 2021, the global geriatric population reached 758,631,369 which was an increase from 737,138,709 in 2020.

• Increasing Instances of Other Types of Cancer - non-metastatic castration-resistant prostate cancer (nmCRPC) treatment methods are also utilized to treat other types of cancers as well such as breast, lung, skin, and other cancer. Cancer has been considered to be the leading cause of death across the globe. The prevalence of cancer is presented by incidents and survival rate. For instance, in women, the prevalence of breast cancer was high in women reaching approximately 42% while in men, prostate cancer was observed to be most prevalent reaching approximately 43% in 2019.

• Growth in the Investment and R&D Activities in the Oncology Segment – owing to the escalating prevalence of cancer around the world, a surge in R&D activities to find cures for cancer can be observed. As of 2021, global cancer research and development activities were estimated to grow by 50%.

• Rising Development of New Drugs and Biomarkers – the utilization of biomarkers is noticed to be very high in clinical trials where approximately 50% of the clinical trials used biomarkers in 2018.

Challenges

• Expensive nmCRPC Treatment Therapies

The non-metastatic castration-resistant prostate cancer treatment is expected to be very expensive since depending on the type and its stage, healthcare providers give various types of therapy such as particle therapy, brachytherapy, chemotherapy, hormonal therapy, radiosurgery, and others.All of them require plenty of money and it also increases based on the duration of treatment. Hence, this factor is expected to limit the growth of the market over the forecast period.

• Lack of Awareness About the Disease in Lower Economic Regions
• Lack of Skilled Medical Professionals