The prostate cancer market size in the Asia Pacific is estimated to grow at a CAGR of 10.65% from 2023 to 2028 and be worth USD 21.03 billion by 2028 from USD 12.68 billion in 2023.
Prostate cancer is a common term for diseased situations in which abnormal cells grow and infect uncontrollably in the prostate. New product inventions, partnership agreements, collaborations, and acquisitions are some of the key strategies adopted by the players to get a significant market share in the forecast period.
Advancements in technology, personalized medicine, and cost-effective treatment procedures are a few other factors expected to boost the Asia-Pacific prostate cancer market. In addition, the rising incidence of prostate cancers and the availability of various treatment modalities are also fuelling the market growth.
However, limited commercially available drugs and treatments for this cancer are the challenges restraining the growth of the prostate cancer market. Nevertheless, The Asia Pacific market is estimated to show a substantial growth rate deeds in promising countries.
This research report on the APAC prostate cancer market has been segmented and sub-segmented into the following categories.
By Diagnostic Techniques:
By Radiation Therapy:
Asia-Pacific offers attractive potential for key players in the prostate cancer market due to increased awareness of prostate cancer treatment and acceptance of prostate cancer treatment products. In addition, improvements in healthcare infrastructure, an increase in the number of hospitals with modern medical facilities, a growing R&D sector, a rise in healthcare reforms, and technical advancements in the field of healthcare all contribute to market expansion. Over the forecast period, the market for castrate-resistant prostate cancer in the Asia Pacific is expected to grow rapidly. This is the case because of the existence of significant oncology firms and expanding R&D investments in nations like China and Japan. On the other hand, it has increased the development of prostate cancer drugs. Other factors driving the growth of the Asia-Pacific prostate cancer treatment market include leading manufacturers' increased focus on expanding their geographic presence in emerging Asia-Pacific countries to capitalize on high growth opportunities in the market, a large population base, and high disposable incomes.
Because China has a large population, the total number of tests is projected to be larger than in other regions. Therefore, China is expected to dominate the Asia-Pacific prostate cancer diagnostics market. Prostate cancer is, nonetheless, extremely common in Australia. The most significant rates of prostate cancer have been observed in Australia and New Zealand, owing to the widespread use of prostate-specific antigen (PSA) screening in these countries. However, prostate cancer incidence has been observed to differ from country to country in the Asia Pacific. Because Japan has a large geriatric population, the country is expected to gain a significant market share during the forecast period. To stay competitive, market companies are using various growth methods such as new product launches, mergers and acquisitions, government partnerships, and technological advancements to contribute significantly to market growth.
KEY MARKET PLAYERS:
Sanofi S.A, GlaxoSmithKline, AstraZeneca, AbbVie, Varian Medical Systems, Elekta, Theragenics, Pfizer, Novartis, Roche, Bayer, Johnson & Johnson, Abbott Laboratories, and Genentech are a few of the promising companies in the APAC prostate cancer market.
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