Prostate Cancer Market to Treble to $8.2 Billion by 2023; Report
by Pharmacy Life - Published on 03 May 2015
The global treatment market value for prostate cancer, excluding hormonal and bone therapies, will expand more than threefold from $2.6 billion in 2013 to an estimated $8.2 billion by 2023, according to research and consulting firm
GlobalData.
The company’s latest report states that
this increase, which will occur across the nine major markets (9MM) of the US, France, Germany, Italy, Spain, UK, Japan, Brazil, and Canada, will be driven by a rapidly ageing population, the introduction of nine new, premium-priced therapies by 2023, and the
expected label extensions for both Zytiga and Xtandi in the treatment of hormone-sensitive prostate cancer.
Furthermore, says
Raksha Mudbhary, PhD, GlobalData’s Senior Analyst covering Oncology, Japan and Brazil will experience particularly impressive market growth during the forecast period, due to the increased screening of prostate cancer resulting in higher incidence in Japan, as well as the introduction of several branded products for the treatment of castration-resistant prostate cancer (CRPC).
However, the analyst notes that the
primary driver of growth across the 9MM for prostate cancer treatment will be the label extension of Xtandi into chemotherapy-naïve metastatic CRPC, non-metastatic CRPC and hormone-sensitive prostate cancer.
'
Xtandi’s safety and efficacy garnered a favorable impression from Key Opinion Leaders,' says Mudbhary, 'and its use in multiple prostate cancer patient segments ensures that
it will be the market-leading drug in this therapy area by 2016.
'GlobalData forecasts that
sales of Xtandi will grow to $3.8 billion by 2023, at a CAGR of 24 per cent, accounting for an impressive 46 per cent of total branded drug sales in the prostate cancer space.'
Despite the positive outlook over the forecast period,
a few factors may limit growth, primarily the loss of patent protection for Zytiga, the leading drug in the prostate cancer therapeutics market in 2013.