China Prostate Cancer Diagnostic and Therapeutic Market
China is the most populated country and an emerging economy. China prostate cancer market is forecast to grow at a CAGR of around 8.5% during the forecast period. The incidence of prostate cancer is less in the country as compared to western economies. As per the World Health Organization, the estimated new cases of prostate cancer in 2018 were 99,000 and 5-year prevalence is around 222,000. China government is taking positive steps to improve healthcare infrastructure, driving the prostate cancer market. The government is also increasing access to healthcare by broadening the reach of its health insurance schemes and spending on training hospital staff. In addition, it is involving the private sector by inviting them to build private hospitals or collaborating on innovation.
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The companies which are contributing significantly in the market include Pfizer Inc., The Xian Janssen Pharmaceutical Ltd., Abbott Laboratories, AbbVie Products, LLC, Amgen Inc., AstraZeneca PLC, Bayer AG, Bristol-Myers Squibb Co., Ferring Pharmaceuticals Inc., GlaxoSmithKline PLC, Johnson & Johnson, Siemens Healthcare AG and others.
China prostate cancer diagnostic and therapeutic market is segmented on the basis of diagnostic techniques and therapeutics. By diagnostic technique the market is further is segmented into prostate-specific antigen test, digital rectal examination, prostate biopsy, imaging techniques. Imaging techniques segment is expected to have a significant growth rate in the country during the forecast period. By therapeutics, the market is further divided into hormonal therapy, chemotherapy, immunotherapy, radiation therapy, targeted therapy, surgery. Radiation therapy is the main treatment for localized prostate cancer, and a comprehensive therapy based on androgen deprivation therapy is the treatment for advanced disease.
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The market players are considerably contributing to the market growth by the adoption of various growth strategies including new product launch, merger, and acquisition, collaborations with government, and technological advancements to stay competitive in the market. For instance, in November 2019, the Xian Janssen Pharmaceutical Ltd. announced to launch ERLEADA (apalutamide), after the approval from China National Medical Products Administration (NMPA) in September 2019. Moreover, in the same month, Pfizer, Inc. announced the approval of Xtandi for men with metastatic castration-resistant prostate cancer (CRPC) and also who had disease progression despite androgen deprivation therapy (ADT).
China Prostate Cancer Diagnostic and Therapeutic Market Segmentation
China Prostate Cancer Diagnostic and Therapeutic Market by Diagnostic Techniques
o Prostate-Specific Antigen Test (PSA)
o Digital Rectal Examination
o Prostate Biopsy
o Imaging Techniques
China Prostate Cancer Diagnostic and Therapeutic Market by Therapeutics
o Hormonal Therapy
o Chemotherapy
o Immunotherapy
o Radiation Therapy
o Targeted Therapy
o Surgery
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