Prostate cancer is the second leading cause of cancer in men worldwide. It comes in second only to skin cancer in its number of global cases, representing some 15 percent of all cancers diagnosed in men. Considering this, it’s little surprise that researchers say the global market associated with prostate cancer will grow by leaps and bounds through 2023.
In a new market research report titled “Global Prostate Cancer Drug Market Analysis and Forecast to 2023,” researchers delved into projections for the near future. The market, researchers found, was worth an estimated $2.6 billion in 2013. By 2023, researchers estimate its worth will grow dramatically to $8.3 billion.
The reasons behind such robust growth projections are many. First off, researchers say, label extensions are anticipated for drugs that are currently marketed. In addition, nine new premium-priced treatment drugs are expected to hit the market soon. In addition, new treatments options are also being developed.
With an estimated 220,000 new cases of prostate cancer diagnosed annually in the United States alone, the audience for new drug treatments for the disease is continually growing. And, as researchers find new means to treat once-drug-resistant forms of the disease in new ways, the number of patients using different therapies is likely to rise.
Prostate cancer is generally diagnosed in men in their later years. This disease when caught early is typically considered highly treatable through drug therapies, radiation treatments, radical prostatectomies and other procedures.
Men who are concerned about prostate cancer and its risks are urged to speak with their healthcare providers. Personal physicians are best equipped to recommend early screening protocols and to help men better understand their unique personal risks for developing the disease. Early detection can lead to more effective treatments and a strong prospect for survival in most cases.