UK’s Prostate Cancer market size stood at around USD XX.X billion in 2019 and is projected to reach USD XX billion by 2028, exhibiting a CAGR of around 9.7% during the forecast period.
The high incidence of prostate cancer is the major factor for augmenting the demand for prostate cancer diagnostics services and therapeutics in UK. As per the World Health Organization, around 56,000 new cases of prostate cancer were registered in 2019. It is the most common cancer in UK with around 24% of the overall new cancer cases in men. The 5-year prevalence in UK due to prostate cancer is around 206,000 in 2019.
In UK, prostate cancer is the second largest cause of cancer mortalities with around 13,000 mortalities in 2019. This is primarily due to the increasing aging population of UK. As per Cancer Research UK, more than half (54%) of prostate cancer cases in the UK each year are diagnosed in males aged 70 and over of age. Moreover, incidence rates for prostate cancer are projected to rise by 12% in the UK between 2014 and 2035 and 1 in 8 men will be diagnosed with prostate cancer during their lifetime in the country. Prostate cancer is most common in black males, then White males and least common in Asian males.
Market Driving and Restraining Factors
The rising incidence of prostate cancer is recognized as a major driver for the growth of the prostate cancer market during the forecast period. Some other drivers are the increasing geriatric population base, growing demand for novel drugs. Although the exact cause of prostate cancer is not known, factors associated with it include overweight, obesity, and history of any other tumorous growth. Even patients with cardiovascular diseases are prone to metastasis of cancer. Thus, the rising incidence rate of the above-mentioned conditions is also driving the market growth.
Factors restraining market growth include high treatment costs and low patient compliance due to complicated treatment methods.