Castrate-resistant Prostate Cancer Market Size, Share & Trends Analysis Report By Therapy (Chemotherapy, Hormonal Therapy, Immunotherapy, Radiotherapy), By Region, And Segment Forecasts, 2020 - 2027

Report Overview

The global castrate-resistant prostate cancer market size was valued at USD 8.5 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 8.4% from 2020 to 2027. The rising prevalence of castrate-resistant prostate cancer, growing adoption of novel drugs, along with an unhealthy lifestyle are key factors anticipated to accelerate market growth. The need for faster treatment options and investments in R&D by key players is also fueling the growth rate of the market.

The incidence of castrate-resistant prostate cancer is growing globally which is attributable to the high prevalence of prostate cancer that develops into castrate-resistant prostate cancer after a few years of diagnosis. Over 3.1 million men are diagnosed with the disease in 2020 in the US while Metastatic Castrate-resistant Prostate Cancer (mCRPC) has an incidence rate of 12.1%. A good prognosis is associated with the rising trend of early diagnosis of the condition.

During initial treatment, 85.0% of patients show a positive response to standard chemical castration treatment. In addition, the 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 or HCPCS Level II code, 0024-5824-11 as National Drug Code or NDC, and 96413 as CPT code. However, despite technological advancements, the disease remains lethal owing to its aggressive form.

Moreover, the lack of a standard treatment sequence is another factor impacting the growth of the segments. The choices of treatment are highly variable depending on patient characteristics and physician preference. These factors are anticipated to impact the growth of the market for castrate-resistant prostate cancer.

Therapy Insights

The hormonal therapy segment accounted for the largest revenue share of 83.1% in the market for castrate-resistant prostate cancer in 2019. This growth is owing to the presence of a high number of approved drugs, the launch of new drugs, and the expansion of product indication. In addition, the rising development of innovative medicines to address unmet needs and current treatment options is expected to boost the growth of the market for castrate-resistant prostate cancer.

Immunotherapy therapy is one of the important therapeutic options and has the potential to affect mCRPC. The segment is expected to witness a CAGR of 19.4% during the forecast period. According to Dendreon Pharmaceuticals, Provenge has been prescribed to around 40,000 men suffering from advanced prostate cancer. It is autologous cellular immunotherapy for the treatment of asymptomatic or minimally symptomatic mCRPC.

Chemotherapy is used as the first treatment for Castrate-resistant Prostate Cancer (CRPC); it is one of the treatment options for CRPC. The approved chemotherapy drugs involve docetaxel (Taxotere) with prednisone. Increasing advancements in chemotherapy have led to the development of second-line treatment with prolonging overall survival in mCRPC patients whose disease progressed after or during docetaxel therapy.

Regional Insights

North America accounted for the largest revenue share of 46.6% in the castrate-resistant prostate cancer market in 2019 and is expected to continue its dominance over the forecast period. This growth is attributable to a high prevalence of the disease, the presence of regional players, and favorable reimbursement policies. Changing lifestyle is another factor adding to the prevalence of diseases.

The local presence of regulatory entities in North American countries is expected to boost the development of therapies in the near future. This is mainly due to the fact that these entities play a pivotal role in creating awareness among people about the potential of immunotherapy in cancer management.

In Europe, the market for castrate-resistant prostate cancer is expected to grow at a significant rate during the forecast period due to combined efforts of several governments & private institutes, such as the European Organization for Research and Treatment of Cancer (EORTC) and the European Medicines Agency (EMA), to develop unique programs focusing on multiple approaches in drug development.

In Asia Pacific, the market for castrate-resistant prostate cancer is expected to grow at a lucrative rate during the forecast period due to the presence of leading oncology companies and an increase in R&D investments in countries such as China and Japan. This, in turn, has led to an increase in the development of prostate cancer drugs. Moreover, the cost of clinical trials in developing countries is lesser than that in developed countries.

Key Companies & Market Share Insights

The presence of prominent market players and an increase in the number of government initiatives with respect to retailers in various regions are factors expected to boost the growth of the market for castrate-resistant prostate cancer. Growing consumer awareness about early diagnosis and treatment options and increased demand for economical and effective treatment strategies, especially in APAC and MEA regions, are factors likely to drive the sales channel, collectively.

In addition, strategic initiatives, such as collaboration and partnership, undertaken by companies to conduct and fund clinical trials of investigational candidates are expected to accelerate market growth. For instance, in July 2020, Ipsen joined the collaboration of the Exelixis and Roche clinical trial and participated in the funding of Phase III CONTACT-02 pivotal trials. The trial evaluates the safety and efficacy of cabozantinib in combination with atezolizumab in comparison with a second Novel Hormonal Therapy (NHT) with mCRPC patients who have received one NHT.

Due to the increasing prevalence of CRPC, key market players are expanding into emerging economies by implementing strategies such as diversification of product portfolios. Furthermore, companies secure investment within a portfolio to boost advancement in the development of new medicines. For instance, in June 2020, Cardiff Oncology, Inc. entered into a securities purchase agreement with Acorn Bioventures & CAM Capital. The agreement is expected to drive the development of onvansertib. Some of the prominent players in the castrate-resistant prostate cancer market include:

• Sanofi

• Johnson & Johnson Services, Inc.

• Pfizer, Inc.

• Astellas Pharma, Inc.

• Bayer AG

Castrate-Resistant Prostate Cancer Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global castrate-resistant prostate cancer market report on the basis of therapy and region:

• Therapy Outlook (Revenue, USD Million, 2016 - 2027)

  • Chemotherapy

  • Hormonal Therapy

  • Immunotherapy

  • Radiotherapy

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Russia

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

    • Singapore

    • Australia

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • UAE

    • Saudi Arabia