Global castrate resistant prostate cancer market is estimated to witness high growth, owing to growing geriatric population and rapid adoption of novel therapies
Global castrate resistant prostate cancer market is estimated to be valued at USD 9.80 Bn in 2024, exhibiting a CAGR of 8.6% over the forecast period of 2024-2031. The market growth is driven by growing geriatric population suffering from prostate cancer and rapid adoption of novel therapies for castrate resistant prostate cancer. Furthermore, development of targeted therapies and combo therapies can drive the market growth.
Market Dynamics:
Growing Geriatric Population: Rising geriatric population can drive the global castrate resistant prostate cancer market growth. Age is one of the primary risk factors for prostate cancer, with the majority of cases being diagnosed in men aged 65 years or older. According to the United Nations, the global population aged 60 years or over was 962 million in 2017 and is projected to reach 2.1 billion by 2050. This rising pool of elderly population prone to prostate cancer can boost demand for castrate resistant prostate cancer drugs over the forecast period.
Rapid Adoption of Novel Therapies: Introduction of novel therapies such as chemotherapy, immunotherapy and hormone therapy has improved the clinical outcome for patients with castrate resistant prostate cancer
Increasing Prevalence of Prostate Cancer Globally
Prostate cancer is one of the most commonly diagnosed cancers among men worldwide. According to the Global Cancer Observatory, there were over 1.4 million new cases of prostate cancer diagnosed globally in 2020. Rising prevalence of prostate cancer, especially in developed regions such as North America and Europe, can boost demand for treatments targeting advanced stages of the disease such as castrate resistant prostate cancer. Growing elderly population also contributes to increasing caseload of prostate cancer.
Advances in Diagnostic and Treatment Options
Significant research efforts are being made to better understand the biology and evolution of castrate resistant prostate cancer. This leads to development and approval of several novel therapeutic agents in the recent years. Notable drug approvals include antibody drug conjugates, PARP inhibitors, and other targeted therapies that have improved outcomes for patients. Further clinical research evaluate promising combination regimens and therapies targeting specific genomic alterations. The availability of more effective therapeutic options is expanding treatment possibilities and positively impacting the castrate resistant prostate cancer market.
High Cost of Advanced Therapies
Many of the novel drug therapies available for castrate resistant prostate cancer such as immunotherapy and targeted therapies involve high development costs, which gets reflected in their market prices. The high cost of these specialty medications poses significant financial burden for patients as well as healthcare systems and insurance payers. This can hamper the market growth.
Limited Long Term Efficacy
While recent approvals have improved clinical outcomes as compared to standard chemotherapy, none of the existing castrate resistant prostate cancer treatments provide a definitive cure. Most patients eventually develop resistance even to the newest agents. The temporary and limited efficacy associated with current therapeutic options can hamper the market growth. Continued research is needed to develop more durable treatment responses.
Increasing Healthcare Expenditure in Emerging Markets
Emerging countries across Asia Pacific and Latin America are experiencing rapid economic growth and rising incomes. This leads to greater government investments in public healthcare systems and increase in private healthcare spending. As access to advanced cancer diagnostics and treatments improve in these regions, there will be significant opportunities to expand the uptake of castrate resistant prostate cancer drugs.
Combination Therapies and Personalized Medicine
Ongoing clinical trials are exploring novel combination regimens using existing drugs along with immunotherapy, targeted therapy, chemotherapies and other agents. The goal is to achieve improved efficacy through synergistic effects. Advances in precision oncology and biomarker-guided approaches can develop more personalized treatment strategies. These evolving treatment paradigms present lucrative commercial opportunities if successfully developed and adopted into clinical practice.
Link: https://www.coherentmarketinsights.com/market-insight/castrate-resistant-prostate-cancer-market-4529
Key Developments
- In October 2023, Novartis, a pharmaceutical corporation, presented Phase III PSMAfore trial data at the 2023 European Society for Medical Oncology (ESMO) Congress. The data, highlighted in the Presidential Symposium, demonstrate that Pluvicto (lutetium (177Lu) vipivotide tetraxetan) achieved its primary endpoint by significantly improving radiographic progression-free survival (rPFS) in patients with PSMA-positive metastatic castration-resistant prostate cancer (mCRPC) who had previously received androgen receptor pathway inhibitor (ARPI) therapy, compared to a change in ARPI alone
- In August 2023, the U.S. FDA granted approval for Akeega (niraparib and abiraterone acetate) in a fixed-dose combination with prednisone. This approval is for adult patients diagnosed with deleterious or suspected deleterious BRCA-mutated castration-resistant prostate cancer (mCRPC), confirmed by an U.S. FDA-approved test
- In June 2023, AstraZeneca, a biopharmaceutical company, and MSD's Lynparza (olaparib), in combination with abiraterone and prednisone or prednisolone, had received U.S. approval for treating adult patients with deleterious or suspected deleterious BRCA-mutated metastatic castration-resistant prostate cancer (mCRPC)
- In February 2023, Pfizer, a pharmaceutical and biotechnology corporation, announced that the Phase 3 TALAPRO-2 study of TALZENNA (talazoparib), an oral PARP inhibitor, in combination with XTANDI (enzalutamide), has shown positive results. The study demonstrated a statistically significant and clinically meaningful enhancement in radiographic progression-free survival (rPFS) compared to placebo plus XTANDI in men with metastatic castration-resistant prostate cancer (mCRPC).
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