Market Size of Prostate Health Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 9.10 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Prostate Health Market Analysis
The prostate health market is expected to register a CAGR of 9.1% over the forecast period.
COVID-19 impacted the prostate health market owing to the disruptions in elective treatment of prostate diseases during the initial phase of the pandemic worldwide. COVID-19 was also reported to have an adverse impact on people with prostate cancer. For instance, the review article published in the Journal of Prostate Cancer and Prostatic Diseases in May 2021 stated that SARS-CoV-2 could 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. However, the studied market recovered in the last two years since the restrictions were lifted and elective treatment procedures resumed. The emergence of new variants of COVID-19 has a negligible impact on the prostate health market, and the studied market is expected to register stable growth during the forecast period owing to factors such as rapid technological advances and personalized medicine, rising prevalence of prostate diseases, and increase in research initiatives and funding by government and other agencies.
The market for prostate health is expected to grow during the forecast period owing to the high burden of prostate cancer worldwide and rising awareness among people for early diagnosis. For instance, as per Australian Cancer 2022 statistics, 24.2 thousand new cases of prostate cancer were estimated to be diagnosed in Australia in 2022. Similarly, according to the Canadian Cancer Society, 24.6 thousand Canadian men were expected to be diagnosed with prostate cancer in 2022, representing 20% of all new cancer cases in men in 2022. Therefore, the high burden of prostate cancer is expected to propel the market growth during the forecast period.
Furthermore, the industry's growth is being aided by the rising research activities for the development of innovative treatment by market players. For instance, a report published by Novartis in June 2021 stated that their product 177Lu-PSMA-617 significantly improved overall survival and radiographic progression-free survival for men with metastatic castration-resistant prostate cancer in the Phase III VISION study. Therefore, the rising research activities by market players for the development and launches of innovative treatments for prostate cancer are expected to propel the market growth during the forecast period.
The strategic initiatives by market players, such as acquisitions, launches, and approvals by market players to expand prostate cancer offerings, are expected to propel the market growth. For instance, in April 2022, Teleflex Incorporated launched the UroLift System in Japan for treating benign prostatic hyperplasia (BPH), or enlarged prostate. Also, in December 2021, the United States FDA approved Entadfi (finasteride and tadalafil) for the treatment of benign prostatic hyperplasia (BPH) in men with an enlarged prostate. Moreover, in May 2021, the European Commission approved Astellas' XTANDITM (enzalutamide) for men with metastatic hormone-sensitive prostate cancer.
Therefore, owing to the aforementioned factors, such as the high burden of prostate cancer and rising research and development activities and product approvals and launches by market players, the studied market is anticipated to witness growth over the analysis period. However, the high cost of treatment is expected to restrain the market growth.
Prostate Health Industry Segmentation
As per the scope of the report, prostate health is necessary for the human male in order to maintain reproductive health. The 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, and prostatitis), treatment (hormonal therapy, chemotherapy, surgical treatments (radical prostatectomy, orchidectomy, transurethral resection, others treatment types), geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). 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) for the above segments.
By Disease Indication | |
Prostate Cancer | |
Benign Prostate Hyperplasia | |
Prostatitis |
By Treatment | ||||||
Hormonal Therapy | ||||||
Chemotherapy | ||||||
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Other Treatment Types |
Geography | ||||||||
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Prostate Health Market Size Summary
The prostate health market is poised for significant growth over the forecast period, driven by a combination of factors including technological advancements, personalized medicine, and increased awareness of prostate diseases. The market experienced initial disruptions due to the COVID-19 pandemic, which affected elective treatments and had adverse effects on prostate cancer patients. However, the market has since recovered, with the emergence of new variants having a negligible impact. The rising prevalence of prostate diseases and increased research initiatives and funding are expected to further propel market growth. The high burden of prostate cancer globally, coupled with growing awareness for early diagnosis, is a key driver of market expansion. Innovative treatment developments and strategic initiatives by market players, such as product launches and approvals, are also contributing to the market's positive outlook.
The radical prostatectomy segment is anticipated to witness substantial growth due to the rising demand for robotic-assisted procedures and the associated benefits and success rates. Research studies highlighting the advantages of radical prostatectomy over other treatments are expected to boost its demand. North America is projected to hold a significant market share, supported by high prostate cancer incidence, substantial R&D investment, and a concentration of market players. The region's market growth is further fueled by product launches, mergers, and acquisitions. The adoption of minimally invasive procedures is also on the rise, contributing to market expansion. The competitive landscape of the prostate health market is moderate, with several global and regional players actively participating in the market.
Prostate Health Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rapid technological advances and personalized medicine
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1.2.2 Rising prevalence of prostate diseases
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1.2.3 Increase in research initiatives and funding by government/other agencies
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1.3 Market Restraints
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1.3.1 High cost for the treatment
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Disease Indication
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2.1.1 Prostate Cancer
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2.1.2 Benign Prostate Hyperplasia
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2.1.3 Prostatitis
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2.2 By Treatment
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2.2.1 Hormonal Therapy
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2.2.2 Chemotherapy
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2.2.3 Surgical Treatments
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2.2.3.1 Radical Prostatectomy
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2.2.3.2 Orchidectomy
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2.2.3.3 Trans Urethral Resection
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2.2.3.4 Others
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2.2.4 Other Treatment Types
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Prostate Health Market Size FAQs
What is the current Global Prostate Health Market size?
The Global Prostate Health Market is projected to register a CAGR of 9.10% during the forecast period (2024-2029)
Who are the key players in Global Prostate Health Market?
Teleflex, Novartis AG, Elekta, Siemens Healthcare GmbH and Bayer AG are the major companies operating in the Global Prostate Health Market.