The global prostate health market is anticipated to grow at a significant CAGR of around 8.8% during the forecast period. The increasing prevalence of benign prostatic hyperplasia is considered as the primary factor attributable to the growth in the prostate health market. Benign prostatic hyperplasia (BPH) is known as a medical condition that affects men adversely through the non-cancerous enlargement of the prostate gland. While BPH seldomly shows symptoms before the age of 40, the risk of shrink in BPH increases with age. As per the World Health Organizations (WHO), the BPH is commonly diagnosed in approximately 50% of men between the ages of 51 and 60 and up to 90% of men older than 80.

Impact of COVID-19 Pandemic on Global Prostate Health Market

The prostate health market has been adversely impacted by the sudden emergence of the COVID-19 infection due to the halt in diagnostic procedures and surgical procedures. Moreover, prostate cancer patients, are more susceptible to COVID-19 infections compared to an individual without cancer, as they are in an immunosuppressive state caused by the malignancy and anticancer treatment. There was a significant decrease in prostate-related diseases diagnosis rates globally, which had shown the negative impact for that short period.

Segmental Outlook 

The global prostate health market is segmented based on disease indication and treatment. Based on the disease indication, the market is segmented into prostate cancer, benign prostatic hyperplasia, and prostatitis. Based on the treatment, the market is sub-segmented into chemotherapy, biological therapy, hormone therapy, and others. The other treatment includes medications. Among these, prostate cancer expected to account for the prominent market share in the prostate health market.

Global Prostate Health Market Share by Disease Indication, 2020 (%)

The Prostate Cancer Segment Expected to Hold Prominent Market Share in The Global Prostate Health Market

The growth in the market is majorly driven by the increasing prevalence of prostate cancer, rise in awareness among people regarding the treatment of prostate cancer, and availability of new drugs and prostate cancer treatments are the major factor that drives the market. The rapid increase in the number of prostate cancer cases is creating huge opportunities for market players. The major market players are focusing on R&D activities to bring new and authentic treatments to the market. the market growth is expected to be fueled using innovatory technologies in screening and diagnostic testing. Multiparametric MRI (MP-MRI) can greatly increase tumor identification. Furthermore, in terms of cancer-related mortality in men, prostate cancer ranks sixth and eleventh in terms of loss of life from any disease. According to the American Cancer Society’s estimates for prostate cancer in 2022, about 268,490 new cases and 34,500 deaths occurred in 2021 due to prostate cancer in the US.

Regional Outlooks

The global prostate health market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America).  The market can be analyzed for a particular region or country level as per the requirement. North America has been among the frontrunners in developing prostate health therapies in the healthcare industry. The market growth in North America can be mainly attributed to the growing target population, the high incidence of BPH, prostate cancer, and prostatitis, and the strong presence of medical device manufacturers. 

Global Prostate Health Market Growth, by Region 2021-2027

The Asia-Pacific Region Projected to Hold the Prominent Share in the Global Prostate Health Market

Asia Pacific region is the considered to be the fastest-growing market due to the growing improvement in healthcare infrastructure and development of hospitals equipped with advanced medical facilities across the region. Furthermore, rapidly rising technological advancement in the healthcare sector and various healthcare reforms will further contribute to driving the growth of the market.  For instance, in October 2020, Asia-Pacific Observatory on Health Systems and Policies announced new scheme named Health in Transitions (HiT) in Papua New Guinea catering to transform complete decentralized healthcare industry to centralized infrastructure. Other factors that drive the market are the surge in the focus of leading manufacturers on expanding their geographic presence in emerging countries capture the high growth opportunities in the market. 

Market Players Outlook

The major companies serving the global prostate health market include Abbott, Amgen Inc., Astellas Pharma Inc., AstraZeneca, Bayer AG., BDR Pharmaceuticals International Pvt. Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in July 2020, Ipsen announced to participate in the funding of the start of CONTACT-01 and CONTACT-02 global Phase III pivotal trials. CONTACT-01 appraise the safety and benefit of cabozantinib (CABOMETYX) in combination with atezolizumab (TECENTRIQ) in individuals with metastatic non-small cell lung cancer (NSCLC) who have been formerly treated with an immune checkpoint inhibitor and platinum-containing chemotherapy. CONTACT-02 is used to estimate the safety and efficacy of cabozantinib given along with atezolizumab versus a second novel hormonal therapy (NHT) in men with metastatic castration-resistant prostate cancer (CRPC) who have earlier been treated with one NHT.

The Report Covers

    • Market value data analysis of 2020 and forecast to 2027.

    • Annualized market revenues ($ million) for each market segment.

    • Country-wise analysis of major geographical regions.

    • Key companies operating in the global prostate health market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

   • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

    • Analysis of market entry and market expansion strategies.

    • Competitive strategies by identifying ‘who-stands-where’ in the market.