Research Nester released a report titled “Non-Metastatic Castration Resistant Prostate Cancer Treatment Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global non-metastatic castration resistant prostate cancer treatment market in terms of market segmentation by therapy type, application and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The non-metastatic castration resistant prostate cancer (nmCRPC) treatment market is projected to grow with a moderate CAGR during the forecast period, i.e., 2021-2029 on account of the increasing elderly population and the rising prevalence of prostate cancer. The National Cancer Institute of the U.S. Department of Health and Human Services, in the U.S., the estimated new cases and number of deaths from prostate cancer in the year 2020 were 191,930 and 33,330, respectively.
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The market is segmented by therapy type into chemotherapy, immunotherapy, radiotherapy, hormonal therapy, and others. Among these segments, the hormonal therapy segment is anticipated to hold the largest share by the end of 2021 in the nmCRPC treatment market as a result of the higher positive diagnosis rates of hormonal therapy than other available treatments. It is also gaining worldwide recognition for its usage as an adjuvant therapy with radiotherapy and surgery.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the non-metastatic castration resistant prostate cancer treatment market in the Asia Pacific is projected to grow at the highest CAGR throughout the forecast period. Currently, the market in North America holds the largest share. This can be attributed to the presence of leading healthcare providers in the region, especially in the United States, who are extensively involved in the research and development for innovative cancer treatment procedures.
According to the United Nations, it is estimated that by 2050, every one in six people will be 65 years or older, i.e., 16% of the total world population. Along with this, the number of persons above 80 years or older is also projected to triple by the end of 2050.
Age is one of the most predominant risk factors of any kind of prostate cancer. It has been observed that individuals whose age is above 65 years or more possesses a high risk of having prostate cancer. Additionally, the rising prevalence of prostate cancer in recent years is also expected to boost the market growth during the forecast period. However, the expensive cost of cancer therapies and lack of awareness in low income economies are some factors that are estimated to restrain market growth in the near future.
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