Infinium Global Research Prostate Cancer Therapeutics Market | Page 2

Infinium Global Research has added a new report on Global Prostate Cancer Therapeutics Market. The report predicts
the market size of Prostate Cancer Therapeutics is expected to reach XX billion by 2023.
The global market for prostate cancer therapeutics was valued at around USD 10.2 billion in 2016 and is expected to
reach USD 19.8 billion by 2023, growing at a CAGR of around 9.9% during the forecast period of 2017 to 2023.
Prostate cancer is a malignant tumor, or group of cancerous cells, which arises in the prostate gland, a gland in the
male reproductive system located below the urinary bladder and in front of the rectum. Prostate cancer may be
benign in some cases, but can turn metastatic and become life threatening. Prostate cancer generally occurs in men
over the age of 50. Hereditary factors, diets that have too much red meat content, and environmental factors
affecting the male hormones (androgen) impact the etiology of prostate cancer. According to the American Cancer
Society’s estimates, approximately 161,360 new cases of prostate cancer and 26,730 deaths from prostate cancer
are estimated in the United States in 2017. Other than skin cancer, prostate cancer is the most common cancer in
American men. The prostate cancer market has a huge demand for novel drugs that address the unmet medical
needs of the patients at an increased effectiveness and lower cost.
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Innovations in the development of new drugs and therapies, large number of new drugs entering into the market
with FDA approval, high growth in hormone-refractory prostate cancer therapeutics market, and rise in base of aging
population are the key driving factors for the growth of this market. In addition, rise in prevalence of prostate cancer,
changing lifestyle habits of populations, increased patient’s healthcare awareness, and increasing demand for non-
invasive therapies are further expected to propel the market growth in the coming years. Along with these driving
factors, the market for prostate cancer is facing some challenges such as time consuming regulatory compliance and
high cost of prostate drugs. However, the market for prostate cancer is likely to rise in the future due to the large
number of ongoing innovations for the treatment of prostate cancer.