Nanotechnology Is Fastest Growing Segment Fueling The Growth Of Castrate Resistant Prostate Cancer Market


https://www.coherentmarketinsights.com/market-insight/castrate-resistant-prostate-cancer-market-4529
Castrate Resistant Prostate Cancer Market



The global Castrate Resistant Prostate Cancer Market is estimated to be valued at US$ 11.12 Bn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview

Castrate-resistant prostate cancer occurs when prostate cancer grows or metastasizes even when the male sex hormone testosterone is suppressed either through chemical or surgical castration. Drugs used to treat castrate-resistant prostate cancer help improve symptoms caused by advanced prostate cancer as well as slow disease progression.

Market key trends

One of the key trends in the castrate-resistant prostate cancer market is the rising adoption of nanotechnology-based drugs. Nanomedicines offer immense potential in treating castrate resistant prostate cancer. For example, nanotechnology-based drug delivery systems help in targeted delivery of anticancer drugs minimally invasive manner to prostate cancer sites, reducing systemic side effects. This technology facilitates delivery of higher drug concentrations directly at the tumor site.
Segment Analysis

The global Castrate Resistant Prostate Cancer market is segmented based on treatment type, route of administration, and end-user. Based on treatment type, the market is segmented into chemotherapy, hormonal therapy, immunotherapy, and radiation therapy. The hormonal therapy segment currently dominates the market due to wide availability and adoption. This therapy works for a long period and provides better quality of life as compared to other therapies.

Key Takeaways

The global Castrate Resistant Prostate Cancer Market Growth is expected to witness high growth, exhibiting a CAGR of 8.2% over the forecast period, due to an increasing prevalence of prostate cancer across the world.

Regional analysis

North America dominated the global market and is expected to continue its dominance over the forecast period. This is attributed to the rising geriatric population in the US and Canada which are more prone to developing prostate cancer. Asia Pacific is expected to be the fastest-growing market owing to increased awareness regarding early diagnosis and the availability of advanced treatment options in countries like India, China and Japan.

Key players

Key players operating in the Castrate Resistant Prostate Cancer market are Sanofi, Johnson & Johnson Services Inc., Pfizer Inc., Astellas Pharma Inc., Bayer AG, Bristol Myers Squibb, Merck Sharp & Dohme, Novartis International AG, Eli Lilly & Company, and AstraZeneca plc. Sanofi dominates the market with their approved drug Taxotere which is indicated for use in combination with prednisone for treatment of patients with castration-resistant prostate cancer.


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