The Prostate Health Market Size is valued at 33.88 Billion in 2023 and is predicted to reach 69.71 Billion by the year 2031 at a 9.74 % CAGR during the forecast period for 2024-2031.
Prostate cancer is a type of cancer that can develop in men. The little gland produces seminal fluid. It is the second most significant cause of death for men in the US. Some prostate cancers have a sluggish growth rate, are only found in the prostate gland, and may not show any harm. Others may spread swiftly and cause serious injury, while some may need therapy. Rising obesity, lifestyle disorders, smoking, and the development of cutting-edge prostate cancer diagnosis and treatment techniques contribute to the market's revenue growth.
Additionally, growing investments by major corporations and governments of several nations throughout the world in the development of novel medicines and equipment to prevent and treat prostate cancer are also propelling market revenue growth due to the FDA's support of emerging technologies and medications in the pipeline, as well as the market for prostate health, which is anticipated to rise significantly. Over the predicted time range, it is anticipated that government FDA approvals will create numerous growth opportunities for the prostate cancer health industry.
The creation of breakthrough treatments like PSMA-targeted therapy and technological advancements accelerate the market's revenue growth. In addition, it is projected that the market will generate more money as demand for prostate cancer and hormone therapy treatments rises. However, the side effects of BPH and prostate health treatments and drugs prevent market expansion in the short term. Prostate cancer and its therapies, such as surgery, radiation, and hormone therapy, can potentially cause erectile dysfunction. It is projected that these factors will restrain market revenue growth.
Market Segmentation:
The Prostate Health market is segmented on disease indication, treatment and distribution channels. Based on disease indication, the market is segmented into Prostate Cancer, Prostatitis, Alpha Blockers, Benign Prostate Hyperplasia and Others. Based on the treatment, Prostate Health is segmented into Cytotoxic Agents, Hormone ADT, AR Directed Therapies, PARP Inhibitors and Others. Based on end-user, the market is segmented into Hospitals, Specialty Clinics, Homecare and Others. Based on distribution channel, the market is segmented into Pharmacies, E-commerce Stores and Others.
Based On Treatment, The Hormone ADT Segment Is Accounted As A Major Contributor To The Prostate Health Market.
Based on the treatment, Prostate Health is segmented into Cytotoxic Agents, Hormone ADT, AR Directed Therapies, PARP Inhibitors and Others. The hormone ADT category held the largest revenue share. Prostate cancer is fueled by the male sex hormone androgens, which can also slow the disease's spread. It is widely accepted that ADT is the first line of treatment for symptomatic metastatic prostate cancer. The most common androgen is testosterone. Androgen Deprivation Therapy (ADT) hormone therapy is used to lower testosterone levels in the body by surgically removing testicles or taking drugs that make testicles inactive. Hormone treatment can be used to treat prostate cancer in various situations, including localized, locally advanced, and metastatic illness, as well as rising PSA levels after localized prostate cancer surgery and radiation therapy, which is anticipated to propel this market's revenue growth.
The E-Commerce Stores Segment Witnessed Growth At A Rapid Rate.
Based on distribution channel, the market is segmented into Pharmacies, E-commerce Stores and Others. The e-commerce stores category dominates the market. Online pharmacies are convenient, grow swiftly, and are replacing traditional drugstores. It's easy and convenient for folks who live far from actual pharmacies and older adults to buy prescription drugs online. Additionally, e-commerce stores save money and time. Simply ordering prescription medications online is possible. It is not necessary to go to a pharmacy and wait in line.
The North America Prostate Health Market Holds A Significant Revenue Share In The Region.
The North America Prostate Health market is expected to register the highest market share in revenue in the near future due to the rising frequency of BPH and advancements in therapy. Additionally, favourable reimbursement policies, research funding, a robust healthcare infrastructure, and an increase in product introductions have all contributed to the expansion of the prostate health industry in the area. In addition, Asia Pacific is projected to grow rapidly in the global Prostate Health market. Throughout the projection period, emerging nations in the Asia Pacific, such as China, India, Brazil, and Mexico, are anticipated to increase and present potential prospects for various market players. The need for prostate health solutions in the Asia Pacific is also anticipated to rise as a result of increasing healthcare investments, a rise in physician awareness, and an ageing population.
Competitive Landscape
Some major key players in the Prostate Health Market:
- Pfizer Inc.
- Lily
- Bayer AG
- Abbolt
- GSK plc.
- Merck KGaA
- ProArc
- Nucleai, Inc.
- Sanofi
- AbbVie Inc.
Prostate Health Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 33.88 Billion |
|
Revenue Forecast In 2031 |
USD 69.71 Billion |
|
Growth Rate CAGR |
CAGR of 9.74 % from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
Disease Indication, Treatment, Distribution Channel |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Pfizer Inc., Lily, Bayer AG, Abbolt, GSK plc., Merck KGaA, ProArc, Nucleai, Inc., Sanofi, and AbbVie Inc. |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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