Prostate Cancer Market Set to Grow

Leading independent analyst Datamonitor Healthcare has revealed that the prostate cancer market is expected to grow by 50% during the next 9 years.

The combined sales of prostate cancer drugs across the US, Japan and the five major EU markets (France, Germany, Italy, Spain and the UK) was worth $4.4 billion in 2012 and is expected to reach $6.6 billion by 2021, with a compound annual growth rate of 4.5%.

Much of this growth will be due to the uptake of new drugs including Johnson & Johnson’s Zytiga, an oral treatment for metastatic castrate-resistant prostate cancer, which is expected to be a blockbuster drug this year with global sales worth more than $1 billion.

The current number of sufferers in the US, Japan, and the five major EU markets stands at 580,000 and is set to increase to 600,000 in 2014 as more people are diagnosed with prostate cancer.

Dr Joe Hedden, analyst at Datamonitor Healthcare, said: “We are expecting to see a number of different drugs in the pipeline have a significant impact on the treatment of prostate cancer as well as the market value.”

“Although the at-risk population is increasing, it’s very positive to see a number of promising drugs being approved for use including Medivation/Astellas’ oral drug Xtandi.”