Metastatic Prostate Cancer Market Report and Forecast 2024-2032

Metastatic Prostate Cancer Market Size

The metastatic prostate cancer market was valued at USD 8.43 billion in 2023 driven by the rising prevalence of cancer across the 8 major markets. The market is anticipated to grow at a CAGR of 8.1% during the forecast period 2024-2032 to reach a value of USD 17 billion by 2032. 

Metastatic Prostate Cancer Market Outlook

• The increasing incidence of metastatic prostate cancer and a growing aging population is driving the demand for advanced treatments and personalised therapies in the market.

• Increased FDA approvals for new therapies accelerate market growth by introducing innovative treatments, enhancing patient access, and encouraging ongoing research and development.

• The market growth is driven by continuous advancement in treatment modalities, including the development of targeted therapies, immunotherapies, and personalised medicine.

Metastatic Prostate Cancer Market Overview

Metastatic prostate cancer is characterised by the growth of cancerous cells outside the prostate. There are several treatment therapies for treating the condition. Hormone therapy slows or blocks prostate cancer cells from growing. Chemotherapy kills cancer cells, and it is an important treatment option for metastatic prostate cancer when the disease has metastasized (spread). Other treatment options include immunotherapy, checkpoint inhibitors, and systemic radiation treatments.

Metastatic Prostate Cancer Market Growth Drivers

Rising Prevalence Drives Market Growth

The market growth is driven by the rising prevalence of prostate cancer. Prostate cancer is the second-leading cause of cancer death in men in the United States of America. The American Cancer Society reported around 1,958,310 new cancer cases and 609,820 cancer deaths in the United States in 2023. The organization has estimated that nearly 299,010 new cases and about 35,250 prostate cancer-related deaths will occur in the United States in 2024. The market growth can also be attributed to the growing geriatric population of older people. The combination of factors is creating a sense of urgency to introduce innovative and effective systemic therapies to cater to patients suffering from the disease and improve patient outcomes.

Surge in FDA Approvals to Meet Rising Metastatic Prostate Cancer Market Demand

The market is witnessing significant FDA approvals to bring innovative treatments in the market. For instance, in August 2023, the combination of niraparib and abiraterone acetate (Akeega) with prednisone was approved by the FDA for men with deleterious or suspected deleterious BRCA-mutated metastatic castration-resistant prostate cancer. The approval was expedited and granted under the priority review designation. The approval of new and innovative therapies in the market increases the range of treatment options available. The accelerated approval process highlights the FDA's support for innovative treatments, encouraging further investment and development in metastatic prostate cancer treatment, and fuelling market development.

Research and Clinical Trials Bolstering Market Growth

The market growth is poised to be fuelled by the ongoing research into novel therapies, including targeted drugs, immunotherapies, and combination treatments. For instance, in July 2024, Bayer revealed that its drug Nubeqa was found to be effective in slowing the progression of a certain type of prostate cancer in a late-stage trial, underpinning growth prospects. Nubuqa in combination with androgen deprivation therapy significantly delayed progression-free survival in comparison to the androgen deprivation therapy alone in a phase III trial. This development is expected to boost Nubeqa's clinical performance and escalate its use among healthcare providers to treat advanced prostate cancer, leading to higher adoption rates.

Metastatic Prostate Cancer Market Trends

The market is witnessing several trends and developments to improve the global current scenario. Some of the notable trends are as follows:

Metastatic Prostate Cancer Market Segmentation

Market Breakup by Treatment Type

• Chemotherapy

• Immunotherapy

• Hormonal Therapy

• Radiation Therapy

• Others

Market Breakup by Route of Administration

• Oral

• Parenteral

• Others

Market Breakup by End User

• Hospitals

• Clinics

• Cancer Centers 

• Research Laboratories 

• Others

Market Breakup by Country

• United States

• EU-4 and the United Kingdom
  • Germany
  • France
  • Italy
  • Spain
  • United Kingdom

• Japan

• India

Metastatic Prostate Cancer Market Share

Segmentation Based on Treatment Type Anticipated to Witness Growth

The market segmentation based on treatment type includes chemotherapy, immunotherapy, hormonal therapy, radiation therapy, and others. Hormonal therapy is expected to lead the market share due to its effectiveness in targeting androgen hormones. The high prevalence of hormone-sensitive metastatic prostate cancer is a major factor driving its dominance in the market.

Metastatic Prostate Cancer Market Analysis by Region

Based on region, the market report is divided into the United States, EU-4 (Germany, France, Italy, Spain), the United Kingdom, Japan and India. The United States dominates the market due to several factors. The country has a high incidence of prostate cancer highly driven by an aging population and increasing diagnostic practices, contributing to a large patient pool requiring advanced treatments. The United States healthcare system also supports the rapid adoption of innovative therapies, bolstered by substantial investment in research and development. The market dominance can be attributed to the presence of leading pharmaceutical companies and research institutions facilitating continuous advancements in treatment options, including targeted therapies and immunotherapies, which are increasingly personalised using biomarkers and genetic testing.

Additionally, the U.S. FDA's proactive regulatory environment, which includes expedited approval pathways like Priority Review and Breakthrough Therapy Designation, ensures that cutting-edge treatments reach the market faster than in other regions. The country's robust healthcare infrastructure, combined with strong reimbursement frameworks, enables broader patient access to these high-cost, and advanced therapies. Moreover, high patient awareness and engagement in clinical trials contribute to the rapid adoption of new treatments. These factors collectively justify the United States as the leading regional market for metastatic prostate cancer, driving both innovation and market growth.

Leading players in the Metastatic Prostate Cancer Market

The key features of the market report comprise patent analysis, clinical trial analysis, grants analysis, funding and investment analysis, and strategic initiatives by the leading players. The major companies in the market are as follows:

AstraZeneca

AstraZeneca is a global, science-led biopharmaceutical company that has made significant strides in oncology, including metastatic prostate cancer. Their portfolio includes Lynparza (olaparib), a PARP inhibitor used in metastatic prostate cancer patients with specific genetic mutations like BRCA1/2. Lynparza represents a targeted therapy approach, offering personalized treatment options that extend survival in patients with advanced prostate cancer.

Pfizer, Inc.

Pfizer is a leading global pharmaceutical corporation with a diverse portfolio in oncology. It offers Xtandi (enzalutamide), a next-generation androgen receptor inhibitor that has become a standard treatment for both metastatic and non-metastatic prostate cancer. Xtandi works by blocking the effects of androgens, which fuel the growth of prostate cancer cells and is widely used in combination with other therapies to improve patient outcomes.

Sanofi

Sanofi is a global healthcare leader with a strong presence in the oncology field, including metastatic prostate cancer. Their portfolio includes Jevtana (cabazitaxel), a chemotherapy drug used in patients with advanced prostate cancer who have previously been treated with docetaxel. Jevtana is often utilized in cases where the disease has progressed despite prior treatments, offering a critical option for prolonging survival in late-stage metastatic prostate cancer patients.

Bristol Myers Squibb

Bristol Myers Squibb (BMS) is a global biopharmaceutical company known for its innovative cancer treatments. In the metastatic prostate cancer market, BMS is focused on immunotherapy, with Opdivo (nivolumab) being a key component of their portfolio. Although Opdivo is more commonly associated with other cancers, BMS is actively exploring its potential in combination with other agents to treat metastatic prostate cancer, particularly in patients with high mutational burdens or other specific biomarkers.

Other key players in the market include F-Hoffmann-La Roche Ltd, Daiichi Sankyo Inc., AB Science, Teva Pharmaceutical Industries Ltd, and Eli Lily and Company.

Key Highlights of the Report

Key Questions Answered in the Metastatic Prostate Cancer Market

• What was the metastatic prostate cancer market value in 2023? 
• What is the metastatic prostate cancer market forecast outlook for 2024-2032? 
• What are the regional markets covered in the EMR report? 
• What is market segmentation based on treatment type? 
• How is the market segmented based on the route of administration?   
• Who are the end-users in the market? 
• What are the major factors aiding the metastatic prostate cancer market demand?  
• How has the market performed so far and how is it anticipated to perform in the coming years? 
• What are the market's major drivers, opportunities, and restraints?  
• Which regional market is expected to lead the market share in the forecast period?  
• Which country is expected to experience expedited growth during the forecast period?  
• What are the major metastatic prostate cancer market trends?
• Which route of administration is expected to dominate the market? 
• Which treatment type will dominate the market share?  
• Which end-user will lead the market?
• Who are the key players involved in the metastatic prostate cancer market? 
• What is the patent landscape of the market? 
• What are the current unmet needs and challenges in the market?
• How are partnerships, collaborations, mergers, and acquisitions among the key market players shaping the market dynamics?