|Fastest Growing Market:||Asia-Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The prostate health market is expected to register a CAGR of 9.1% over the forecast period 2022-2027.
The COVID-19 pandemic disrupted the market of prostate health in the initial phases. People with prostate cancer or related prostate diseases faced challenges with treatment during the lockdown. According to the article “Is COVID-19 a risk factor for progression of benign prostatic hyperplasia and exacerbation of its related symptoms? a systematic review” published in the journal Prostate Cancer and Prostatic Diseases in May 2021 explains that SARS-CoV-2 can possibly damage the prostate and worsen benign prostatic hyperplasia and its related Lower urinary tract symptoms through ACE2 signaling, androgen receptors-related mechanisms, inflammation, and metabolic derangement.
Further, the increasing rate of prostate diseases fuels the market for prostate treatments and health support. According to the article “Global, Regional, and National Incidence and Year Lived with Disability for Benign Prostatic Hyperplasia from 1990 to 2019” published on 2021 says that globally, the estimated incidence case of Benign Prostatic Hyperplasia (BPH) in 2019 was 11.26 million. It concludes as population growth and aging cause the burden of Benign Prostatic Hyperplasia to be high and increase worldwide, and it may associate with socioeconomic status.
Increased investment in research and development, a rise in upcoming pipeline medicine, and the availability of novel prostate treatments fuel the market for prostate health. The 2021 updates from National Cancer Institute explain the use of Nanoparticles to deliver drugs to prostate cancer cells. The article “Gold nanoparticles shown to be safe and effective treatment for prostate cancer” published in 2019, supports the novel drug technologies used in prostate healthcare as Biocompatible gold nanoparticles that convert near-infrared light to heat have been demonstrated to ablate low- to intermediate-grade prostate cancers safely and effectively.
Furthermore, the industry's growth is being aided by new product launches and strategic efforts by significant market competitors, for example, according to a report published by Novartis in June 2021, says that their product 177Lu-PSMA-617 significantly improves overall survival and radiographic progression-free survival for men with metastatic castration-resistant prostate cancer in Phase III VISION study. Additionally, a product named Pluvicto from Novartis gained United Stated Food and Drug Administration approval in March 2022, which is the first targeted radioligand therapy for the treatment of progressive, prostate-specific membrane antigen (PSMA) positive metastatic castration-resistant prostate cancer.
As a result of the reasons mentioned, the researched market is anticipated to grow throughout the analysis period. However high cost for prostate disease treatment restrains the prostate health market growth.
Scope of the Report
As per the scope of the report, prostate health is necessary for the human male in order to maintain reproductive health, prostate gland is the gland that plays a key role in reproduction, which produces the seminal fluid that nourishes and transports sperm. The Prostate Health Market is segmented by Disease Indication (Prostate Cancer, Benign Prostate Hyperplasia, Prostatitis), Treatment (Hormonal Therapy, Chemotherapy, Surgical Treatments (Radical Prostatectomy, Orchidectomy, Trans Urethral Resection, Others), Other Treatment Types, Geography (North America, Europe, Asia-Pacific, South America, Middle East, and Africa). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
|By Disease Indication|
|Benign Prostate Hyperplasia|
|Other Treatment Types|
Key Market Trends
Radical Prostatectomy is Expected to Witness a Positive Growth Over the Forecast Period
Radical prostatectomy (prostate removal) is a surgery that removes the entire prostate gland as well as some surrounding tissue. This procedure is used to treat prostate cancer commonly. This surgery gives the patient a life expectancy of 10 years or more according to the age group.
The article published in Frontiers in Surgery in 2021, “Radical Prostatectomy: Sequelae in the Course of Time”, explains that Patients undergoing Radical Prostatectomy have a low risk of serious complications. The fastest recovery occurs within the first year after Radical Prostatectomy, but long-term improvements are conceivable as well.
In February 2022, an article titled” Survival after Radical Prostatectomy versus Radiation Therapy in High-Risk and Very High-Risk Prostate Cancer” published on the Journal of Urology throws light on the benefits of Radical Prostatectomy compared to other radiation-based therapy on prostate cancer.
The advancement in the Radical Prostatectomy soon explains the influence of robotic radical prostatectomy with the help of artificial intelligence. For example, the article “The future of robotic radical prostatectomy driven by artificial intelligence” was published on 2021 in the journal Mini Invasive Surgery, talks about the introduction of three-dimensional (3D) technology fulfill the preferences of both patients and surgeons, allowing the three-dimensional vision of the anatomy and improving the perception of the disease's location and characteristics, such as its interaction with the prostate capsule.
As a result of the aforementioned factors, the Radical Prostatectomy segment is predicted to develop significantly throughout the forecast period.
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North America is Expected to Grow the Prostate Health Market
North America held most of the market share for the prostate health market. This region's growth can be related to a spike in the prevalence of prostate diseases in the United States and the rest of North America, as well as enhanced trials and studies for prostate disease treatment development. Increased investment in research and development, a rise in upcoming pipeline medicine, and the availability of novel prostate treatments fuel the market of North America for prostate health. Miami-based Veru Inc. announced the United States Food and Drug Administration Approval of ENTADFI, a new treatment for Benign Prostatic Hyperplasia in December 2021. When compared to finasteride monotherapy, ENTADFI (finasteride and tadalafil) capsules for oral use have been demonstrated to be more effective in treating urinary tract symptoms caused by Benign Prostatic Hyperplasia (BPH) with a lower risk of sexual side effects. The FDA-approved indication for ENTADFI is to begin treatment of the signs and symptoms of benign prostatic hyperplasia in males with an enlarged prostate for up to 26 weeks
Key product releases, mergers, acquisitions, and the presence of manufacturers in the country are all factors that have contributed to the growth of the prostate health market. According to the press release in October 2021 by Amgen announced the acquisition of Teneobio, Inc. Teneobio's proprietary bispecific and multispecific antibody technologies will be integrated into Amgen's existing antibody capabilities and BiTE platform, allowing for significant speed and efficiency in the discovery and development of new molecules with the potential to treat a wide range of important diseases across Amgen's core therapeutic areas. TNB-585, a Phase 1 bispecific T cell engager for the treatment of metastatic castrate-resistant prostate cancer (mCRPC), and numerous preclinical oncology pipeline assets with the potential for Investigational New Drug filings soon will also be acquired as part of the deal. The prostate health market is predicted to grow in the North American region as a result of the preceding factors.
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The prostate health market is fragmented in nature due to the presence of several companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known. Include Novartis AG, Teleflex, Siemens Healthcare GmbH, Elekta, and Bayer AG among others.
In June 2021, Bayer announced the acquisition of Noria and PSMA Therapeutics to expand its portfolio in prostate cancer. Bayer will obtain exclusive rights to a differentiated alpha radionuclide therapy based on actinium-225 and a small molecule targeting prostate-specific membrane antigen as a result of this acquisition (PSMA). Bayer's existing cancer-targeted alpha therapeutics (TAT) portfolio, which includes XofigoTM (radium-223 dichloride) and a proprietary platform of investigational TATs based on thorium-227, will be expanded with this acquisition. Prostate cancer is the second most often diagnosed cancer in men, and the pre-IND program focuses on its treatment. Because of its unique architecture, this therapy has the potential to provide a differentiated efficacy and safety profile, as well as address a large unmet medical need for men with prostate cancer.
In May 2021 the European Commission has approved Astellas' XTANDITM (enzalutamide) for men with metastatic hormone-sensitive prostate cancer. Men with metastatic hormone-sensitive prostate cancer have a poor prognosis, with a median survival time of only 3-4 years, highlighting the need for innovative therapeutic alternatives. Enzalutamide is presently the only oral medication approved by the European Commission to treat three kinds of advanced prostate cancer: non-metastatic, metastatic castration-resistant prostate cancer (CRPC), and metastatic high-risk prostate cancer (mHSPC).
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rapid technological advances and personalized medicine
4.2.2 Rising prevalence of prostate diseases
4.2.3 Increase in research initiatives and funding by government/other agencies
4.3 Market Restraints
4.3.1 High cost for the treatment
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Disease Indication
5.1.1 Prostate Cancer
5.1.2 Benign Prostate Hyperplasia
5.2 By Treatment
5.2.1 Hormonal Therapy
5.2.3 Surgical Treatments
184.108.40.206 Radical Prostatectomy
220.127.116.11 Trans Urethral Resection
5.2.4 Other Treatment Types
5.3.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.3.4 Middle East and Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle East and Africa
5.3.5 South America
22.214.171.124 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.2 Novartis AG
6.1.4 AstraZeneca PLC
6.1.5 Bayer AG
6.1.8 Clovis Oncology
6.1.9 Siemens Healthcare GmbH
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Prostate Health Market market is studied from 2019 - 2027.
What is the growth rate of Global Prostate Health Market?
The Global Prostate Health Market is growing at a CAGR of 9.1% over the next 5 years.
Which region has highest growth rate in Global Prostate Health Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Prostate Health Market?
North America holds highest share in 2021.
Who are the key players in Global Prostate Health Market?
Teleflex, Novartis AG, Elekta, Siemens Healthcare GmbH, Bayer AG are the major companies operating in Global Prostate Health Market.