Global Androgen Deprivation Therapy Market Size

Androgen Deprivation Therapy Market Analysis

The Androgen Deprivation Therapy Market is expected to grow at a significant CAGR of 5.2% during the study period, 2022-2027.

The emergence of the COVID-19 pandemic had an adverse effect on the world economy and the healthcare system. It has impacted the androgen deprivation therapy market, as cancer patients, especially prostate cancer patients, are more susceptible to coronavirus than individuals without cancer, as they are in an immunosuppressive state caused by the malignancy and anticancer treatment. Thus, they were majorly suggested to stay at home and avoid all non-emergent treatment, which has impacted the market. Additionally, According to the study “Effects of Androgen Deprivation Therapy on COVID-19 in Patients with Prostate Cancer: A Systematic Review and Meta-Analysis,” published in July 2021, ADT did not increase the mortality and morbidity of COVID-19 and should be considered a safe treatment for patients with prostate cancer during the pandemic. Such studies boosted the ongoing androgen therapy treatments. However, due to outages in the manufacturing plants, there was a supply chain disruption which has impacted the supply of the medication used for androgen deprivation therapy, thus, impacting the market.

The factors propelling the studied market growth are the rising burden of prostate cancer, increasing research and development activities, advancements in treatment technology for effective treatment of prostate cancer, rising product approvals, and strategic initiatives adopted by key market players.

As per the data published by GLOBOCAN, in 2020, the prevalence of prostate cancer was found to be 1,414,259, or 7.3% of the total cancer cases worldwide. The huge burden of prostate cancer globally generates the demand for effective treatment, hence driving the androgen deprivation therapy market.

According to an article published by the American Cancer Society in January 2022, prostate cancer is common among people aged 65 years and above. Therefore, the growing geriatric population will also boost the demand for its therapeutics, thus driving the market. According to World Population Prospects’ 2020 statistics, by 2050, 15 billion in the world will be over age 65 years, and at present, it is 727 million. Thus, the rising aging population in the world is expected to propel market growth.

Additionally, strategies such as partnerships, distribution agreements, mergers, and acquisitions adopted by key market players will boost the market growth. For instance, in May 2022, Myovant Sciences and Accord Healthcare, Ltd. entered into an exclusive license agreement for Accord to commercialize Relugolix for the treatment of advanced hormone-sensitive prostate cancer under the trade name ORGOVYX (Relugolix, 120 mg) in the European Economic Area, United Kingdom, Switzerland, and Turkey. Such partnerships will expand the accessibility of ORGOVYX across geographies, thereby leading to lucrative growth of the market.

Furthermore, the achievement of milestones in the drug development cycle will also fuel market growth. For instance, in May 2022, Bayer reported that the United States Food and Drug Administration (FDA) had accepted a supplemental New Drug Application (sNDA) and granted Priority Review for the oral androgen receptor inhibitor (ARi) darolutamide in combination with docetaxel for the treatment of metastatic hormone-sensitive prostate cancer (mHSPC).

Therefore, owing to the aforementioned factors, the studied market is expected to grow significantly during the study period. However, limited reimbursement policies and increasing side effects is expected to hinder the market growth during the study period