The incidence of prostate diseases such as prostate cancer and prostatitis is increasing, driving the demand for diagnostic and therapeutic products.
WILMINGTON, Del., July 08, 2024 (GLOBE NEWSWIRE) — Transparency Market Research, Inc. Prostate Health Market (Prostate Health Market) was predicted to achieve US$31.9 billion In 2023, 9.2% average annual growth rate From 2024 to 2034, and by 2034, the market Reaching $83.8 billion.
Rising healthcare expenditure, especially in emerging economies, is supporting the growth of the prostate health market. Improving access to healthcare services is another contributing factor. The trend towards personalized medicine, including genetic testing and customized treatment plans, is gaining momentum in the prostate health market.
The move towards non-invasive or minimally invasive treatment options, such as robotic-assisted surgery and laser therapy, is becoming increasingly common. AI and machine learning are increasingly integrated into the diagnostic and treatment process, improving accuracy and outcomes.
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The introduction of telemedicine and digital health platforms has made prostate health services more accessible by facilitating remote consultations and monitoring. There has been growing interest in nutraceuticals and dietary supplements aimed at promoting prostate health, with a preference for natural, preventative approaches.
Continued investments in research and development of innovative treatments, including new drug formulations and advanced surgical techniques, will create opportunities for market players. Increasing emphasis on preventive healthcare and early diagnosis will create opportunities for companies offering screening tools and preventive treatments.
The prostate health market is growing due to the rise in diseases such as benign prostatic hyperplasia (BPH) and prostate cancer. In 2020, there were 1,414,259 new prostate cancer cases globally, with North America and Europe leading the way with 73.7% and 62.1%, respectively, while Africa and Asia had lower rates of 26.6% and 11.5%, respectively. The prevalence of BPH is high with age, affecting approximately 50% of men aged 51-60 years and up to 90% of men aged 80 years and above.
Advances in treatments such as Novartis’ 177Lu-PSMA-617, which has improved survival rates in metastatic castration-resistant prostate cancer, and early diagnosis campaigns are further driving the market growth.
Key findings prostate health Market Report
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Ongoing research into biomarkers for prostate disease is improving diagnostic accuracy and allowing for earlier detection of prostate disease.
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The shift toward patient-centered models of care, with an emphasis on individualized treatment plans and patient engagement, is gaining momentum.
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There is growing interest in holistic, comprehensive approaches to prostate health that combine traditional treatments with complementary therapies such as acupuncture, herbal medicine and yoga.
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The use of big data and analytics in healthcare is helping to identify trends, improve diagnostic accuracy, and develop more effective treatment protocols for prostate health.
Prostate Health Market Trends (Prostate Health)
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Based on disease type, the prostate cancer segment is expected to drive the growth of the prostate health market.
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Adenocarcinoma is the most common type of prostate cancer, accounting for the majority of prostate cancer cases. Its high prevalence and incidence has significantly increased the demand for diagnostic and therapeutic solutions.
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Innovations in diagnostic techniques such as prostate-specific antigen (PSA) testing, MRI fusion biopsy, and advanced imaging techniques have improved early detection and diagnosis rates.
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On the treatment side, the hormone therapy segment is expected to drive market growth.
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Hormonal therapy is particularly effective in managing advanced stages of prostate cancer, including metastasis and recurrence, by reducing or blocking the production of androgens that drive prostate cancer growth.
Global Prostate Health Market: Regional Perspectives
North America
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North America has one of the highest rates of prostate disease, particularly prostate cancer and benign prostatic hyperplasia (BPH).
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This high prevalence has led to increased demand for diagnostic testing, treatment and supportive care services.
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North America boasts an advanced healthcare infrastructure with access to cutting-edge diagnostic tools, treatment options, and specialized healthcare providers.
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This infrastructure will support early detection, diagnosis and treatment of prostate disease, improving patient outcomes.
Asia Pacific
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Rapid advances in medical technology and healthcare delivery systems are transforming prostate health care in the Asia Pacific region.
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This includes the introduction of robotic surgery for prostate removal, advanced imaging techniques for early detection, and telemedicine solutions for monitoring and examining patients in remote locations.
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Prostate health awareness and preventive screening programs are becoming increasingly important in the Asia Pacific region.
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Public health initiatives, education campaigns and screening activities can improve early detection rates and facilitate timely medical intervention.
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Prostate Health Market: Key Players
The competitive landscape of the prostate health market is dynamic and multifaceted, with various players including pharmaceutical companies, biotechnology companies, medical device manufacturers, nutritional supplement manufacturers, etc. The following companies are well-known in the prostate health market:
Major developments
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In 2022, Teleflex introduced the UroLift system in India to address Benign Prostatic Hyperplasia (BPH) or enlarged prostate. The system offers a minimally invasive treatment option for BPH, allowing the procedure to be performed as a same-day outpatient service.
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In the same year, Novartis received European Commission (EC) approval for PRUBIK (lutetium (177Lu) bipibotide tetraxetane), a targeted radioligand therapy, for the treatment of adult patients with prostate-specific membrane antigen (PSMA)-positive metastatic castration-resistant prostate cancer (mCRPC).
Prostate Health (Salute della prostata) Market Segmentation
Types of disease
process
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chemical treatment
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Hormone therapy
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Immunotherapy
Route of administration
Distribution Channel
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Hospital Pharmacy
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Retail Pharmacy
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Online Pharmacy
region
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North America
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latin america
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Europe
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Asia Pacific
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Middle East and Africa
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