Report: Prostate cancer treatment market will reach $8.2B by 2023
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 Markets, a research and consulting firm with the new report PharmaPoint: Prostate Cancer—Global Drug Forecast and Market Analysis to 2023.
The report states that the increase, which will occur across the nine major markets (9MM)—U.S., France, Germany, Italy, Spain, U.K., Japan, Brazil, and Canada—will be driven by a rapidly aging population, the introduction of nine new premium-priced therapies by 2023, and the expected label extensions for both Zytiga and Xtandi for treatment of hormone-sensitive prostate cancer.
Furthermore, Raksha Mudbhary, Ph.D., the authors’ senior analyst covering oncology, said 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).
The analyst noted, however, 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.
Mudbhary said, “Zytiga is anticipated to lose key U.S. patent protection in December 2016. Although there is some uncertainty regarding the timing of Zytiga generics entering the U.S. market, the resulting loss of branded sales will restrict growth during the latter part of the forecast period.”