The prostate cancer treatment market is projected to expand from US$ 19.07 billion in 2022 to US$ 34.11 billion by 2030, reflecting a compound annual growth rate (CAGR) of 7.5% during this period.

Prostate cancer ranks among the most prevalent health issues affecting men, particularly those over the age of 50. This type of cancer is notably more frequent in individuals who are overweight or have a familial predisposition to prostate cancer. Often referred to as a silent disease, prostate cancer can develop without significant symptoms, making early detection challenging. Typically, most prostate cancers begin in the peripheral zone of the prostate gland. As a result, symptoms usually manifest only when the tumor grows large enough to press against the urethra, or in some cases, when bone pain arises due to metastasis, which may be the first sign of advanced disease. Men aged 50 and older who experience lower urinary tract symptoms, erectile dysfunction, or blood in urine should consider the possibility of prostate cancer. This disease is the fifth leading cause of cancer-related deaths among men globally and is the second most frequently diagnosed cancer.

### Strategic Initiatives Driving Market Growth

The growth of the prostate cancer treatment market is significantly influenced by various strategic initiatives undertaken by both large and small companies in the sector. These strategies include geographic expansion, the introduction of new products, and advancements in technology. Below are some notable recent developments in the prostate cancer treatment landscape:

• In November 2023, the FDA granted approval to enzalutamide, developed by Astellas Pharma US, Inc., for treating non-metastatic castration-sensitive prostate cancer (nmCSPC) with a high risk of metastasis.


• Also in November 2023, Astellas Pharma Inc. completed the acquisition of Propella Therapeutics Inc., which includes PRL-02 (abiraterone decanoate), a next-generation androgen biosynthesis inhibitor aimed at treating prostate cancer.


• In April 2023, Lantheus Holdings Inc. and POINT Biopharma Global Inc. received fast track designation from the FDA for 177Lu-PNT2002, intended for the treatment of metastatic castration-resistant prostate cancer (mCRPC). This innovative therapy combines a PSMA-targeted ligand with a beta-emitting radioisotope for effective treatment.


• In June 2023, the combination of AstraZeneca and MSD's Lynparza (olaparib) with prednisone or prednisolone and abiraterone was approved in the US for adult patients with suspected deleterious BRCA-mutated (BRCAm) mCRPC.


• In February 2023, Fusion Pharmaceuticals Inc. announced the acquisition of an investigational new drug application from RadioMedix, focusing on a Phase 2 clinical trial (the "TATCIST" trial) for 225Ac-PSMA I&T, a small molecule targeting prostate-specific membrane antigen (PSMA) in prostate cancers.


• In March 2022, the FDA approved Novartis's Pluvicto (lutetium Lu 177 vipivotide tetraxetan) for treating adults with PSMA-positive mCRPC.

The active engagement of market participants in expansions, partnerships, and mergers and acquisitions is propelling the growth of the prostate cancer treatment market.

### Market Scope and Regional Insights

The prostate cancer treatment market report encompasses various regions, including North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). North America stands as the largest contributor to the global prostate cancer therapeutics market. Meanwhile, the Asia Pacific region is anticipated to exhibit the highest CAGR in the prostate cancer therapeutics market from 2022 to 2030. The surge in prostate cancer cases, coupled with product launches and government initiatives, primarily drives the growth of the prostate cancer therapeutics market in the US. For instance, the approval of Lynparza in June 2023 and enzalutamide in November 2023 are significant contributors to market expansion.

Key organizations such as the World Health Organization (WHO), the Centers for Disease Control and Prevention (CDC), and the Food and Drug Administration (FDA) are among the primary and secondary sources referenced in the preparation of the prostate cancer treatment market report.