Market Trends of Castrate Resistant Prostate Cancer Therapeutics Industry
This section covers the major market trends shaping the Castrate Resistant Prostate Cancer Therapeutics Market according to our research experts:
Hormonal Therapy Segment is Expected to Hold a Significant Market Share over the Forecast Period.
The major factors driving the growth of the segment include rising geriatric population who are more prone to castrate resistant prostate cancer, launch of new drugs, presence of high number of approved drugs and the expansion of product indication. In addition, the rising development of innovative drugs to address unmet needs and current treatment options is expected to boost the growth of the market for castrate-resistant prostate cancer.
According to a National Clinical Trial (NCT) Registry, Sir Mortimer B. Davis Jewish General Hospital is currently conducting a phase II clinical trial with a new generation of hormonal therapy Darolutamide to assess the response of stereotactic body radiation therapy (SBRT) layered on Darolutamide (BAY1841788) on radiological progression-free survival (RPFS) and deferring palliative second line systemic therapy in patients with castration resistant prostate cancer. The trial began in October 2020 and expected to complete in November 2027.
Thus, increasing research and development activities along with rising prevalence of castrate resistant prostate cancer due to aging population is expected to drive the market growth.
North America Region is Expected to Hold a Major Market Share Over the Forecast Period
In North America region, the United States is expected to hold signifcant market share due to high prevalence of the disease, the presence of major market players, increasing research and development activities and favorable reimbursement policies.
In June 2020, in United States, Exelixis, Inc in collaboration with Roche-Genentech and Takeda initiated a phase III clinical trial to evaluate the safety and efficacy of cabozantinib in combination with atezolizumab in men with metastatic castration-resistant prostate cancer (mCRPC).
Furthermore, presence of favorable reimbursement policies for patients is expected to boost the growth of the market for castrate-resistant prostate cancer. For instance, Jevtana is covered under Medicare Part B benefits. It is identified by J9043 and C9276 under Healthcare Common Procedure Coding System. Thus, owing to above mentioned factors, market in the United States is expected to be one of the largest and is also expected to grow in the future.
