Metastatic Hormone Refractory Prostate Cancer Market to Register a Stout Growth by End 2025
Cancer is one of the most fatal and chronic disorders, in which, there is development of tumor due to uncontrolled growth of cells in particular part of the body. Cancer is highly hazardous disease, in which, the mortality rate is extremely high, due to highly invasive nature and prolonged duration of disease.
Metastatic hormone refractory prostate cancer is the cancer of prostate glands. Prostate cancer is the most common form of cancer that affects men. In most of the cases, cancer remains confined to prostate gland, even after treatment. Hence, it is usually difficult and very painful to treat prostate cancer. The diagnostic tests may preliminary include deep study of patient’s history and reasons of pain. Afterwards, the diagnosis of metastatic hormone refractory prostate cancer is carried out by utilizing imaging studies, such as, CT scan, MRI, bone scanning, and PET scanning. Biopsy test is also used for diagnosis and confirmation of the disease. Moreover, rising level of prostate-specific antigens (PSA) in a patient treated with prostate cancer indicates that the disease has returned.
The Metastatic Hormone Refractory Prostate Cancer Market is segmented on the basis of therapies and treatments available, such as, radiation therapy, chemotherapy, and cryosurgery. Radiation therapy mainly includes high energy X-rays or gamma-rays that are used to destroy the tumors. Hormone therapy is considered as the major therapy to treat metastatic hormone refractory prostate cancer. Major hormones used for the treatment of metastatic hormone refractory prostate cancer include goserelin (Zoladex), histrelin (Vantas), and leuprolide (Lupron) amongst others. Additionally, combined hormone therapy includes flutamide (Eulexin and others), nilutamide (Nilandron) and others. Chemotherapy is pharmacological treatment by using anti-cancer drugs either orally or parenterally.
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Major drugs used to treat this cancer include ketoconazole, dexamethasone, glucocorticoids, bisphosphonates, and finasteride (5-alpha reductase inhibitors) amongst others. Cryosurgery is also sometimes considered as the major therapy to treat metastatic hormone refractory prostate cancer. In addition, the market is segmented on the basis of geography, such as North America, Europe, Asia-Pacific and Rest of the World (RoW). The North American region is the most dominating market in the world, owing to rapidly growing incidences of prostate cancer and rising focus towards R&D to treat metastatic hormone refractory prostate cancer. On the other hand, Asia-Pacific and RoW are the most promising markets in the upcoming period, owing to rising awareness of prostate cancer, its chronic impact and treatments.
The market of metastatic hormone refractory prostate cancer is expected to steady growth rate during forecast period from 2014 – 2020. This growth is anticipated to be driven by various factors, such as, R&D practices running across the globe and high prevalence of prostate cancer. Owing to R&D practices, a number of drugs and formulations, such as, MDX-010 (Ipilimamab), MDV3100, Abiraterone and others are under pipeline studies and are expected to enter in the market during forecast period. Additionally, high prevalence of the disease is the major driver of the market growth. According to American Cancer Society estimates, approximately 233,000 new cases of prostate cancer are expected to diagnose in 2014, out of which, around 30,000 people may die due to prostate cancer. Hence, this high prevalence is the major driver of the market growth. In addition, rising awareness amongst the population for prostate cancer, and increasing medical infrastructure also support the growth of this market. However, high cost of R&D, diagnosis and treatment and lack of awareness in large number of countries (particularly belongs to Asia-Pacific and RoW region) are the major hurdles in the growth of this market.
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The major players operating in this market include Novartis International AG, Pfizer, Inc., AstraZeneca plc, Genentech, Inc., Merck & Co, Inc. and Eli Lilly and Company amongst others.