CASTRATE RESISTANT PROSTATE CANCER MARKET ANALYSIS

Castrate Resistant Prostate Cancer Market Size and Trends

Global castrate resistant prostate cancer market is estimated to be valued at USD 9.80 Bn in 2024 and is expected to reach USD 17.51 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.6% from 2024 to 2031.

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The market growth is primarily driven by rising geriatric population globally susceptible to develop prostate cancer and high adoption of premium-priced targeted therapies for metastatic castrate resistant prostate cancer.

Global castrate resistant prostate cancer market trend involves exponential rise in therapeutics and treatment options for patients with mCRPC. Introduction of new drug classes such as androgen receptor inhibitors, immune-modulators, kinase inhibitors along with combination therapies can transform the treatment algorithm and clinical outcomes in the near future. Wider acceptance of novel targeted therapies can drive the market growth during forecast period.

Rising Geriatric Population

Rising global population of elderly citizens aged 65 years and above can drive the castrate resistant prostate cancer market growth globally. According to the data published by World Health Organization in 2022, the number of people aged 65 years or older is projected to increase from 703 million in 2019 to 1.5 billion in 2050 worldwide. Prostate cancer is one of the highly prevalent cancer types seen in men above 65 years of age. As men progress to older age groups, their chances of developing prostate cancer and its castrate resistant form also increases considerably. Aging leads to weakening of the immune system and other physiological changes in the body, which make elderly men more vulnerable to cancers. Specifically for prostate cancer, rising levels of male hormones like testosterone in aging bodies create a supportive environment for cancer cells to thrive. Since castrate resistant prostate cancer is an advanced stage of prostate cancer where the primary treatment of hormone therapy becomes ineffective, its patient pool directly draws from the increasing population of elderly prostate cancer patients. This demographic shift boosts demand for novel drugs and therapies targeted towards managing castrate resistant prostate cancer symptoms and progression.

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New product launches

The global castrate resistant prostate cancer market is witnessing strong growth driven by continuous product launches in the recent past years. New therapeutic options are offering hopes to prostate cancer patients who no longer respond to conventional hormone therapies. In last two years, three new drugs have been approved by FDA which has expanded the treatment landscape for metastatic castrate resistant prostate cancer (mCRPC) patients. In April 2020, FDA approved novel immunotherapy drug 'Pembrolizumab' in combination with enzalutamide or abiraterone for mCRPC patients. This was a major breakthrough as it provide an immune based treatment option. In May 2021, FDA granted regular approval to 'Apalutamide' for mCRPC patients who are also undergoing androgen deprivation therapy. This is a second generation oral anti-androgen drug and offers potential benefits over existing anti-androgen therapy.More recently in December 2021, FDA approved 'Larotrectinib' for adult and pediatric patients with solid tumors that have a NTRK gene fusion without a known acquired resistance mutation. This drug offers hope to mCRPC patients whose cancer has certain NTRK gene alterations. According to American Cancer Society's Cancer Facts & Figures 2023 report, such targeted therapies play a significant role in improving survival for many cancer types including prostate cancer in recent years. These continuous new product approvals are fueling strong growth in global castrate resistant prostate cancer market.