The size of the prostate cancer market in North America was valued at USD 21.33 billion in 2022. This value is estimated to grow at a CAGR of 8.97% during the forecast period and worth USD 32.77 billion by 2027. North America is the largest market for prostate cancer across the globe. This is rising as there is constant input for innovative drugs to cure diseases. Prostate cancer is cancer that occurs in a man's prostate. It is one of the most widespread types of cancer in men. This type of cancer generally grows gradually and initially remains limited to the prostate gland, which may not cause severe harm. Therefore, this market needs new drugs to address unmet needs, low cost, and enhanced survival time.
The market for prostate cancer in the North American region is expected to grow due to a rise in the population. The prostate cancer market is also driven by the increase in the expected approval of nine late-stage pipeline products within the forecast period. In addition, there has been much growth in the prostate cancer therapeutics market over the past decade, with several products targeting advanced forms of the disease and showing significantly increased efficacy over their predecessors.
Side effects associated with cancer treatment are expected to hinder the growth rate of the North American prostate cancer market.
This research report on the North American prostate cancer market has been segmented and sub-segmented into the following categories.
By Diagnostic Techniques:
By Radiation Therapy:
Geographically, the North American market is expected to dominate the global prostate cancer market during the forecast period. The presence of advanced healthcare facilities with educated medical professionals is projected to propel the market in North America to greater levels. The main reasons behind North America's market dominance are the increased prevalence and high mortality rate of prostate cancer in the United States. In addition, this region is seeing a lot of money invested in R&D to create newer immunotherapies, the rising prevalence of prostate cancer, greater awareness, and targeted pharmacological therapies to treat these cancers. Prostate cancer cases are on the rise, which means there are plenty of prospects for market players. The key market participants are concentrating their R&D efforts on bringing innovative and effective therapies to the market. Canada's market players focus on new product launches, partnerships, mergers, acquisitions, and other growth initiatives. The U.S. FDA is taking steps to boost the growth of the cancer therapy market by approving medications still in the clinical stage, thereby speeding up clinical trials. In addition, Businesses and research organizations are investing in R&D. As a result, the market is rapidly expanding.
KEY MARKET PLAYERS:
A few noteworthy companies operating in the North American prostate cancer market profiled in the report are Sanofi S.A, GlaxoSmithKline, AstraZeneca, AbbVie, Varian Medical Systems, Elekta, Theragenics, Pfizer, Novartis, Roche, Bayer, Johnson & Johnson, Abbott Laboratories, and Genentech.
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