Number of pages: 100 | Report Format: PDF | Published date: March 17, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
According to the deep-dive market assessment study by Growth Plus Reports, the global prostate cancer radiotherapy market is expected to register a revenue CAGR of 5.3% during the forecast period.
Prostate Cancer Radiotherapy Market Fundamentals
Prostate cancer develops when cells in the prostate gland begin to proliferate uncontrollably. The prostate gland is responsible to produces fluid responsible for nourishing sperm. There are majorly four types of prostate cancer: adenocarcinoma, transitional cell carcinoma, squamous cell carcinoma, and small cell cancer. More than 95% of prostate cancer is adenocarcinoma, which develops in the gland cells that line the prostate gland.
Radiotherapy is a common treatment option for prostate cancer that involves using high-energy radiation to kill cancer cells. It can be delivered externally or internally and may be used alone or in combination with other treatments, such as surgery or hormone therapy. Radiotherapy is a highly effective treatment for prostate cancer, with success rates ranging from 80%-90%. It can be used as a primary treatment or in combination with other therapies and has been shown to improve overall survival rates significantly.
In some cases, radiotherapy is prescribed for prostate cancer that has spread to different body parts. This is referred to as metastatic or advanced prostate cancer. Radiotherapy in an advanced stage of prostate cancer uses high-energy waves comparable to X-rays. External beam radiation or internal radiotherapy may be used in the treatment. External beam radiation uses a mechanism to guide radiotherapy beams onto the tumor. This is distinct from internal radiation, which involves administering radiotherapy to the tumor from within the body. Radium 223 internal radiation may be used to treat metastatic prostate cancer. Radiotherapy for metastatic prostate cancer is intended to shrink the tumor, treat symptoms such as discomfort, and make the patient feel more at ease.
Prostate Cancer Radiotherapy Market Dynamics
The increasing prevalence of prostate cancer drives the global prostate cancer radiotherapy market. Several factors contribute to the growing prevalence of prostate cancer, including an aging population; most prostate cancer cases are observed in senior males. Additionally, changes in lifestyle and environmental factors contribute to increasing incidences of prostate cancer. According to the American Cancer Society, prostate cancer is the most common cancer observed in American men. The organization estimates that in 2023, about 288,300 new cases of prostate cancer will be reported, with about 34,700 fatalities.
Oncologists are highly prescribing radiotherapy for treating prostate cancer. This is because radiotherapy for prostate cancer can be used as an alternative to surgeries and as a primary treatment option for early-stage prostate cancer. Moreover, radiotherapy can be offered to patients in many forms, such as small pellets in brachytherapy and in the form of medications by radiopharmaceuticals, which is convenient for many patients.
Technological advancements in radiotherapy are anticipated to fuel the revenue share of the prostate cancer radiotherapy market during the forecast period. For instance, robotic radiotherapy offered by CyberKnife is effective for treating prostate cancer because these devices have good control with few side effects. The unique robotic design keeps the radiation on target even when the tumor moves. These devices can also offer real-time image guidance, offering a clear picture of the disease inside the body.
The global prostate cancer radiotherapy market is also growing with the launch of radiopharmaceuticals. For instance, in March 2022, the US Food and Drug Administration (FDA) authorized Novartis PluvictoTM (lutetium Lu 177 vipivotide tetraxetan), formerly known as 177Lu-PSMA-617,000, for the treatment of adult patients with a specific kind of advanced cancer called PSMA-positive metastatic castration-resistant prostate cancer.
However, side effects of prostate radiotherapy, such as diarrhea and poly urine, can increase concerns. The high cost of radiotherapy and radiopharmaceuticals can somewhat impede the market potential.
Prostate Cancer Radiotherapy Market Ecosystem
The global prostate cancer radiotherapy market is analyzed from three perspectives: type, end user, and region.
Prostate Cancer Radiotherapy Market by Type
Based on the type, the global prostate cancer radiotherapy market is segmented into external beam radiation, brachytherapy, and radiopharmaceutical.
The external beam radiation segment dominates the global prostate cancer radiotherapy market. This segment is sub-segmented into three-dimensional conformal radiation therapy (3D-CRT), intensity-modulated radiation therapy (IMRT), proton beam therapy, image-guided radiation therapy (IGRT), and stereotactic radiation therapy (SRT).
External beam radiation therapy (EBRT) is an effective treatment option for prostate cancer. It has shown success in controlling cancer growth, providing pain relief, and preserving the quality of life in many patients. Some studies reported 5-year biochemical control rates between 60%-80% for localized prostate cancer. In contrast, long-term follow-up studies have reported 10-year biochemical control rates of 50%-70% for patients with all stages of prostate cancer. The efficacy of EBRT may vary depending on the cancer stage, patient’s age, and overall health condition. Moreover, EBRT is an effective treatment option for prostate cancer. It has shown success in controlling cancer growth, providing pain relief, and preserving the quality of life in many patients. EBRT has shown promising cure rates for localized prostate cancer when combined with other treatments. The most common type of EBRT for prostate cancer is IMRT. It employs computer-controlled equipment that moves around the patient while delivering radiation. In addition to structuring the beams and targeting them toward the prostate from various angles, the intensity (strength) of the beams may be regulated to prevent radiation doses from reaching surrounding normal tissues. This allows doctors to provide the malignancy with a larger radiation dosage.
The radiopharmaceutical segment is anticipated to show lucrative growth in the coming years. This segment is sub-segmented into strontium-89 chloride (Metatron), samarium-153 lexidronam (quadramet), and radium-223 dichloride (xofigo). The increasing demand for radiopharmaceuticals is majorly due to the launch of new radiation drugs for treating prostate cancer in the market. Moreover, the efficacy of radiopharmaceuticals in effectively targeting specific tumor cells is increasing their adoption.
Prostate Cancer Radiotherapy Market by End User
Based on end user, the global prostate cancer radiotherapy market is segmented into hospitals, cancer care centers, and independent radiotherapy centers.
The hospitals segment accounts for the majority of the revenue share of the global prostate cancer radiotherapy market. Hospitals are better equipped to provide radiotherapy for prostate cancer patients due to their advanced technology and experienced medical staff. Additionally, hospitals offer a range of support services, such as nutrition counseling, physical therapy, and psychological support, to help patients manage the side effects of treatment.
The cancer care centers segment is expected to grow in the forecast period. This is due to the availability of a dedicated team of experienced professionals, including oncologists, radiation therapists, and medical physicists focused solely on treating cancer and well-versed in cutting-edge radiotherapy techniques. Cancer care centers also have advanced equipment and treatment technologies, enabling more precise and effective radiotherapy for prostate cancer patients.
Prostate Cancer Radiotherapy Market by Region
Based on the region, the global prostate cancer radiotherapy market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominated the prostate cancer radiotherapy market with the largest revenue share. One of the major factors driving the prostate cancer radiotherapy market in North America is the increasing prevalence of prostate cancer among males. Additionally, the rising demand for minimally invasive procedures and technological advancements in radiotherapy equipment contribute to the revenue growth of the prostate cancer radiotherapy market.
The Europe prostate cancer radiotherapy market is characterized by many top players who offer technologically advanced products. Increasing awareness of radiotherapy treatments for prostate cancer and favorable reimbursement policies is boosting revenue growth of the prostate cancer radiotherapy market in Europe.
Over the forecast period, Asia Pacific is predicted to be the fastest-growing geographic region in the prostate cancer radiotherapy market. This growth can be attributed to the increasing densities of healthcare settings. Moreover, the growing demand for advanced treatment options for treating cancer is also influencing the prostate cancer radiotherapy market in Asia Pacific.
Prostate Cancer Radiotherapy Market Competitive Landscape
The prostate cancer radiotherapy market is moderately competitive due to product launches, mergers, and acquisitions. Launching new devices, securing permission for such items, and participating in other activities, such as awareness initiatives, are some of the primary development strategies many organizations focus on. Furthermore, the market classified technological advancements and easy accessibility to their products as superior growth strategies.
The prominent companies occupying the largest revenue share in the global prostate cancer radiotherapy market are:
Prostate Cancer Radiotherapy Market Strategic Developments
The global prostate cancer radiotherapy market is expected to grow at a revenue CAGR of 5.3% during the forecast period.
Curium Pharma, Siemens Healthineers AG, and GE Healthcare Technologies, Inc. are among the key players in the global prostate cancer radiotherapy market.
The external beam radiation segment accounts for the largest revenue share in the global prostate cancer radiotherapy market.
Asia Pacific is expected to observe the highest revenue growth in the global prostate cancer radiotherapy market during the forecast period.
*Insights on financial performance are subject to the availability of information in the public domain