The global hormone refractory prostate cancer (HRPCA) market is expected to reach USD 18.35 billion by 2028, at a CAGR of 9.64% from 2021 to 2028.

NEWARK, UNITED STATES, NEW JERSEY, November 3, 2021 /EINPresswire.com/ -- As per the report published by The Brainy Insights, the global hormone refractory prostate cancer (HRPCA) market is expected to reach USD 18.35 billion by 2028, at a CAGR of 9.64% from 2021 to 2028. North America is accounting for the largest market value of USD 2.38 Billion in 2020, owing to the highly developed treatment scenarios in this region. The advancement in technologies, investment in R &D, and the promising drugs in the pipeline are also the reason that North America region has the highest market value. Asia-Pacific is forecasted to have the highest CAGR of 9.84% during the forecast period. The biggest economies of the world India and China would be the most important region for this market. The increase in the education rate in the emerging economies are creating the awareness about the types of cancer and the types of treatment required for the treatment.

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Key players operating in the global Hormone Refractory Prostate Cancer (HRPCA) market include AbbVie Inc., AcceleronPharma Inc., AB Science SA, AstraZeneca Plc., AstellasPharma Inc., Boston Biomedical Inc., Dendreon Corporation, Sanofi S.A, Johnson & Johnson and BioverativInc among others. The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances and partnerships to improve their market position in the global Hormone Refractory Prostate Cancer (HRPCA) industry. For instance, in June 2018, Sanofi announced that it had completed the acquisition of Ablynx, a pharmaceutical company based in Ghent, Belgium, that develops therapeutic proteins based on single-domain antibody fragments. This acquisition would benefit Sanofi in obtaining a stronger foothold in the industry of medicine.

Treatment type segment include chemotherapy, hormonal therapy, immunotherapy, radiation therapy, surgery and others. The hormonal therapy segment is accounted for the largest market value of USD 4.12 Billion in 2020. The major consensus resorts to this treatment method because of the high amount of successful research in this technique. The end-user segment includes Hospitals, Ambulatory Surgical Centers, Specialty Clinics and Others. Hospitals had held the largest market share of 37.83% in the year 2020. This is because cancer treatments happens in hospitals and in Cancer specialized hospitals.

The premium pricing, which is blocking or making people reluctant of the treatment compounded with the reimbursement policies, which is also very uncertain, is the main factor restraining the market. The prostate cancer mostly affects old age people. So the rising geriatric population in the developed economies could show rising cases of Hormone Refractory Prostate Cancer (HRPCA), which will fuel this market.

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