BURLINGTON, Mass., Dec. 9, 2015 /PRNewswire/ -- Decision Resources Group finds that the prostate cancer drug therapy market will witness an impressive 9.6 percent annual growth over 2014-2024, with major-market sales increasing from $5.5 billion in 2014 to $13.8 billion in 2024. Growth will be fuelled by continued uptake and label expansions of Xtandi (Medivation/Astellas Pharma) and the expected market entry of four novel, premium-priced therapies. Hormonal agents are, and will remain the dominant drug class throughout the ten-year forecast period, capturing a staggering 87 percent of major-market sales in 2024.
Other key findings from the Pharmacor report entitled "Prostate Cancer":
- Xtandi will be the top-selling therapy in the prostate cancer market and will capture $4.0 billion in major-market sales in 2024. In addition, the four emerging therapies expected to launch through 2024 will garner combined major-market sales of $5.2 billion.
- Fuelled by the expected entry of new agents, the untapped hormone-sensitive prostate cancer market segment will nearly quadruple in size and reach $4.6 billion in 2024—corresponding to a third of the total prostate cancer market.
Other key findings from the U.S. Physician and Payer Forum report entitled "U.S. Physician and Payer Perspectives on Novel Treatment Options for Prostate Cancer: What Are the Reimbursement and Market Access Hurdles in this Lucrative Market?":
- Median overall survival benefit—the most influential factor driving prescribing of therapies for metastatic castrate-resistant prostate cancer (mCRPC)—is more important for surveyed U.S. medical oncologists than for surveyed urologists.
- For the price-conscious U.S. payers, reimbursement of mCRPC therapies does not depend exclusively on efficacy and safety; cost-related factors are among the most influential drivers of formulary inclusion.
Other key findings from the European Physician and Payer Forum report entitled "The Burgeoning Prostate Cancer Market in the EU5: How are Physicians and Payers Responding to an Expanding Arsenal of Therapeutic Agents?":
- Primary research with European physicians and payers suggests that, while oncologists can access most prostate cancer drugs, country-specific prescribing guidelines and monitoring strategies designed to ensure safety and cost-effectiveness constrain drug usage.
- Interviewed European payers comment that the ability to select patients for treatment based on a biomarker would be a significant advantage for a new therapy during pricing and reimbursement negotiations.
Comments from Decision Resources Group analysts:
- "In light of the expected availability of less costly generic versions of Zytiga in the United States in the short term, brand price of emerging agents will likely play a pivotal role in determining their uptake and accessibility and, ultimately, their commercial success." —Khurram Nawaz, M.Sc., Principal Business Insights Analyst.
- "All payers we interviewed across the five major European markets* reiterate the need for an emerging therapy to demonstrate significant clinical benefits over an appropriate comparator, if it is to gain positive reviews by health technology assessment bodies and secure reimbursement." —Sehrish Rafique, M.Sc., Ph.D., Business Insights Analyst.
*France, Germany, Italy, Spain, and the United Kingdom.
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SOURCE Decision Resources Group