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The prostate cancer therapeutics market will reach $7bn in 2014 according to new Visiongain report

LONDON, UK, 18TH July 2014: A new report by visiongain calculates that the global prostate cancer therapeutics market will reach $7bn in 2014 with revenue showing strong growth to 2024.

 
 
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PRLog - Jul. 18, 2014 - LONDON, U.K. -- These forecasts and others appear in visiongain’s latest report The Prostate Cancer Therapeutics Market Forecast 2014-2024: Opportunities for Leading Companies.

The last few years have shown massive acceleration in the expansion of the treatment paradigm for prostate cancer patients. The premium prices that targeted cancer therapies can command have made the development of oncology drugs a lot more attractive to the pharmaceutical industry. Xtandi and Zytiga are both second generation hormone therapies that are fiercely battling in the mCRPC treatment space. Zytiga has the advantage at the moment because the FDA approved an expanded indication for Zytiga for mCRPC before chemotherapy in December 2012; however it is likely that Xtandi will gain approval for this indication next year after their successful phase III PREVAIL trial. These new hormone therapies are readily adopted as they offer fewer adverse side effects on patients as compared to chemotherapies.

Amy To, a pharmaceutical and medical devices analyst at visiongain explains: “The prostate cancer therapeutics market is one of the oncology markets with greater commercial interests owing to its large drug treatable patient populations, multiple treatment settings and extended treatment durations. A major driver in the prostate cancer market will be the ageing population because more than 9 out of 10 prostate cancer patients will be 65 years and over. There will be strong growth in the prostate cancer therapeutics market from 2014 to 2024. The prostate cancer drugs market will show growth despite generic competition on off-patent, legacy drugs and will remain resilient after the patent expiry loss for J&J’s leading blockbuster drug Zytiga in 2016. The market will be kept buoyant by the remarkable growth of Medivation/Astellas’ Xtandi franchise as well as the expected arrival of pipeline immunotherapeutic therapies such as Bavarian Nordic’s Prostvac and Advantagene’s ProstAtak.”

Robotic prostatectomy will continue to surge in popularity over the next decade. Therefore radical prostatectomy will remain the most common localised procedure and the highest revenue generating devices market over the forecast period. At the same time, robotic prostatectomy is a prime example of the exorbitant prices that healthcare payers must absorb to offer state-of-the-art technology. Robotic prostatectomy brings greater surgical precision as compared to open or laparoscopic prostatectomy.

The concern for the prostate cancer drug market is not the lack of research and development, but rather the ability of healthcare systems to reimburse for the new treatments available. Reimbursement varies from one country to the other, but tends to be less generous in EU countries as compared to the US. Over the forecast period, the major restraint for manufacturers will be their need to prove the cost-effectiveness of drugs and devices before they are accepted on the market.

The fastest growth will be exhibited in the emerging economies where there are currently very low levels of diagnosis and treatment of prostate cancer. Nevertheless, the US will remain the largest national market over the forecast period because of widespread screening programs and higher incidence rates.

Visiongain’s report provides revenue forecasts to 2024 for the global prostate cancer therapeutics market and leading regional markets. It forecasts sales in the US, Japan, Europe (EU5: Germany, France, Italy, Spain, UK and the rest of Europe), China, India, Russia, Brazil, Mexico and South Korea. The report also forecasts sales for the major drugs for advanced prostate cancer treatment and major device submarkets for localised cancer treatment. It also includes 3 insightful interviews with industry experts regarding unmet prostate cancer treatment needs and current treatment trends.

The Prostate Cancer Therapeutics Market Forecast 2014-2024: Opportunities for Leading Companies adds to visiongain’s extensive range of analytical reports on industries and markets in healthcare.

For an executive summary please contact:
Email: Sara Peerun on sara.peerun@visiongainglobal.com

Tel: +44 (0) 20 7336 6100

Notes for Editors

If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongainglobal.com or call her on +44 (0) 207 336 6100

About visiongain

Visiongain is one of the fastest-growing and most innovative independent media companies in Europe. From its head office in London, UK, visiongain produces a range of newsletters, business reports and e-zines covering current affairs and market trends in the Energy, Telecoms, Pharmaceutical, Defence, and Materials sectors.

Visiongain publishes reports produced by its in-house analysts, who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high quality, original analyses to inform their strategic decisions.


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Source:Visiongain
Location:London - London - United Kingdom
Industry:Business
Tags:radical prostatectomy, immunotherapy, advanced cancer, biomarkers, chemotherapy
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