The global prostate health market size was USD 32.07 Billion in 2021 and is expected to register a revenue CAGR of 9.1% during the forecast period, according to the latest analysis by Emergen Research.
The global prostate health market size was USD 32.07 Billion in 2021 and is expected to register a revenue CAGR of 9.1% during the forecast period, according to the latest analysis by Emergen Research. Prostate health is a crucial sexual and urinary health concern for men. It is essential to maintain the prostate gland in good condition, as it can lead to various issues such as urinary frequency, urgency, weak stream, and dribbling. The prevalence of prostate cancer is increasing globally due to several risk factors such as unhealthy diet, sedentary lifestyle, and genetic predisposition, thereby propelling the growth of the market.
In addition, the aging population is another key factor that is anticipated to fuel the demand for prostate health products over the forecast period. As per the World Health Organization (WHO), the global population aged 60 years or above is projected to reach 2 billion by 2050 from 900 million in 2015. The increase in the aging population is likely to lead to a rise in the incidence of prostate-related issues, thereby driving the market growth.
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Moreover, the availability of advanced treatment options is another key factor that is expected to boost the market growth over the forecast period. For instance, in September 2019, the U.S. FDA approved Erleada (apalutamide) for the treatment of non-metastatic castration-resistant prostate cancer (nmCRPC). This approval was based on the results of the SPARTAN clinical trial that demonstrated a significant improvement in metastasis-free survival (MFS) in patients treated with Erleada as compared to those receiving placebo.
However, the high cost of treatment is anticipated to restrain the market growth over the forecast period. Prostate cancer treatment can be expensive, and not all patients have access to affordable treatment options. According to the National Cancer Institute (NCI), in the U.S., the median cost of prostate cancer treatment was USD 53,950 in 2018.
Some Key Highlights From the Report
- Some major companies in the global market report include Pfizer Inc., Lilly, Bayer AG, Abbott, GSK plc., Merck KGaA, ProArc, Nucleai, Inc., Sanofi, and AbbVie Inc.
- On 22 March 2022, Nucleai, an AI-powered spatial biology company and provider of the first multi-omic tissue segmentation platform for digital pathology, announced the launch of Prostate Health, a new product that uses machine learning and artificial intelligence (AI) to improve prostate cancer detection.
- The Metastatic Prostate Cancer segment is expected to register the highest CAGR during the forecast period. Prostate cancer is the most common type of cancer found in men, and it is the second leading cause of death from cancer for men worldwide. In 2019, there were an estimated 1.3 million new cases of prostate cancer and approximately 366,000 deaths from the disease.
- The AR-directeded therapies segment is expected to register a significant revenue growth rate over the forecast period due to the rising adoption of targeted cancer therapies. Also, the segment is anticipated to grow on account of the availability of key products and the increasing pipeline projects in this therapy area.
- The pharmacy segment accounted for largest revenue share in 2021 owing to high patient preference for purchasing medicines through local drug stores and chemist shops. However, the hospital segment is anticipated to grow at highest CAGR over the forecast period owing to increase in number of patients visiting hospitals for prostate cancer treatment.
- The e-commerce/online channel segment is estimated to witness fastest growth over the forecast period due to advantages such as customer convenience, home delivery, and cost-effectiveness.
- The Asia Pacific prostate health market is anticipated to grow at highest CAGR over the forecast period owing to rapidly growing geriatric population, increase in awareness about prostate cancer, and surge in healthcare expenditure.
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Emergen Research has segmented the global prostate health market based on disease indication, treatment, distribution channel, and region:
- Disease Indication Outlook (Revenue, USD Billion; 2019–2030)
- Prostate Cancer
- Prostatitis
- Alpha Blockers
- Benign Prostate Hyperplasia
- Others
- Treatment Outlook (Revenue, USD Billion; 2019–2030)
- Cytotoxic Agents
- Hormone ADT
- AR Directed Therapies
- PARP Inhibitors
- Others
- Distribution Channel Outlook (Revenue, USD Billion; 2019–2030)
- Pharmacy
- E-Commerce Stores
- Others
- Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
- North America
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