At 9.1% CAGR, Global Prostate Health Market Size & Share Predicted to be Worth USD 68.0 Billion By 2030
According to the research report, the global prostate health market size & share was valued at USD 31.83 billion in 2021 and is expected to reach USD 68.0 Billion By 2030, growing at a CAGR of 9.1% during the forecast period.
Prostate cancer is cancer that takes place in the prostate. The prostate is a compact gland that is walnut-shaped in males that creates the seminal fluid that nurtures and transports sperms. Prostate cancer is the most familiar type of cancer. Many prostate cancers develop steadily and are restricted to the prostate gland, where there is no severe harm caused by them. But while some kinds of prostate cancer develop slowly and may require minimum or no treatment, other types are contentious and can spread speedily.
However, the risk of prostate cancer can be reduced if a healthy diet full of fruits and vegetables is chosen. The diet must include a variety of vegetables, whole grains, and fruits. Fruits and vegetables contain many nutrients and vitamins that can commit to health. Other factors are that healthy foods should be chosen over supplements. It has yet to be proven that accessories play a role in lessening the probability of prostate cancer. Instead, choose food rich in vitamins and minerals so that healthy levels of vitamins are maintained in the body.
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The mounting prevalence of prostate hyperplasia drives the prostate health market
A prominent factor driving the growth of the global market is the growing prevalence of agreeable prostatic hyperplasia, funding, obesity, and grants assigned to the research in BPH treatment, the increasing prevalence of prostate cancer, and the growing demand for hormone therapy drugs and the rising incidences of prostates. Although both surgery and medicines successfully treat BPH, both have significant side effects that may retard global market growth. Also, the large target population of the patient, growing health care expenditure, growing awareness, and unprecedented increase in the senior population are accountable for the growth in the demand for prostate health.
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North America is the emerging regional giant in the prostate health market
North America accounted for the largest share due to the high pervasiveness of treatment innovations and BPH, and the region is forecast to grow. Further, beneficial compensation rules, a robust healthcare infrastructure, research funding, and product introductions have ignited this market’s growth.
The Asia Pacific region is set to record a high CAGR in the global market during the forecast period. The surfacing economies like India, China, Mexico, and Brazil will likely provide noteworthy growth chances for the market contenders in the following years. Many factors like the existence of a well-targeted patient group, high healthcare spending, awareness of the physician, and a sizeable increase in the senior population are forecast to drive the demand for the prostate health market.
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By disease indication segment analysis
The prostate cancer segment leads the segmental dominance in the market
The market is driven by the growing prevalence of prostate cancer, growing public knowledge about prostate cancer therapy, and new medications and treatments. The soaring escalation of several occasions of prostate cancer portrays an expansive likelihood for market participants.
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Prostate health observed a setback in business due to unfavorable conversions in guidelines and regulations hindering the industry growth. Prominent officials globally have recognized that cancer patients are at a greater risk of covid-19 contamination than healthy adults.
Some of the major players operating in the global market include Abbott Laboratories, Amgen Inc., Astellas Pharma Inc., AstraZeneca PLC, Bayer AG, Bristol-Myers Squibb Co., Eli Lilly and Company, Endo Pharmaceuticals Inc., Ferring Pharmaceuticals Inc., GlaxoSmithKline PLC, Johnson & Johnson, Merck & Co., Inc., Pfizer Inc., and Siemens Healthcare AG.
- In October 2020, Israeli medical device maker Butterfly Medical raised USD 7 million in a Series B round to advance a physically shaped nitinol implant positioned in the prostatic urethra to relieve BPH symptoms.
- In 2020, Asahi Kasei Pharma acquired drug approval in China for Flivas, an instrument for managing dysuria associated with BPH.
Prostate health market: By disease indication
- Prostate Cancer
- AR Directed Therapies
- Hormone ADT
- Cytotoxic Agents
- PARP Inhibitors
- Benign Prostate Hyperplasia (BPH)
- Other Alpha Blockers
- 5 Alpha Reductase
- Over the counter
Prostate health market: By Modality
Prostate health market: By treatment
- Radiation Therapy
- Hormone Therapy