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Pharmacy benefit management market
ANDROGEN DEPRIVATION THERAPY (ADT) MARKET REPORT OVERVIEW
The global androgen deprivation therapy (ADT) market size was USD 5647 million in 2019 and will touch USD 7971.1 million by 2026, exhibiting a CAGR of 5.0% during the forecast period.
ADT is the short form of androgen deprivation therapy. This involves treatment that aims at reducing male hormones with a particular focus on testosterone hormone levels in men. These approaches help to slow down or stop the growth of prostate cancer cells since most prostate cancers require male hormones for their growth (in order for them to grow). ADT is usually administered together with other kinds of treatments like radiation therapy or surgery in different stages of prostate cancer as adjunctive therapy.
Prostate cancer has become increasingly common, and hence there has been an increased demand for ADT due to better therapies. This situation has resulted from it being among the leading cancers affecting males, creating more and more demands for ADT services. The reason behind this is that older adults face great risk of having prostate cancer thus they tend to look for more ADTs.
COVID-19 Impact: Cancellations and Delays Due to the Pandemic to Hinder Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
Unfortunately, the pandemic has disrupted health care services in different ways, including cancellations and delays for screening and treatments related to COVID-19 which may have impacted the diagnosis of prostate cancer; a leading indication for ADT.
Conversely, maintaining good health generally and being treated by medical people promptly during a pandemic like this could raise awareness and improve early detection thereby increasing the demand for ADTs. Besides, administration of COVID-19 vaccinations coupled with gradual reopening of healthcare centers will mitigate negative effects brought about by this outbreak on androgen deprivation therapy (ADT) market growth.
LATEST TRENDS
"Advanced Formulations to Drive Market Growth"
There is an increasing move towards personalized medicine in ADTs where treatment plans are specifically designed according to individual characteristics such as genetic makeup; tumor biology; treatment history et cetera with an objective of optimizing treatment outcomes and minimizing side effects. This has been effective in various combination therapies that involve androgen deprivation therapy (ADT) with radiation therapy among others to enhance treatment effectiveness and decrease risk of disease progression or recurrence. In order to make these drugs more convenient and increase compliance rates, pharmaceutical companies are trying to create better formulations like long-acting injections and new delivery systems used for androgen deprivation therapy (ADT).
ANDROGEN DEPRIVATION THERAPY (ADT) MARKET SEGMENTATION
By Type
Based on type the global market can be categorized into medicine, surgery and other.
- Medicine: Medicine has been employing invasive techniques in diagnosing, treating and preventing illnesses using drugs, changes of lifestyle, and therapies. This includes those with expertise in fields like family medicine, internal medicine, pediatrics who address a variety of health issues without the need for surgery.
- Surgery: Surgery involves operational techniques used in treating diseases; injuries as well as deformity by manual or instrumental means. Surgeons receive training on how to operate through carrying out surgical operations for example removing damaged tissues plus organ transplants prior to repair. It can be done due to various reasons like relieving symptoms, improving performance or saving lives.
By Application
Based on application the global market can be categorized into hospital, clinic and other.
- Hospitals: Hospitals on the other hand are massive medical facilities capable of providing a wide range of health services such as emergency care, operations, and intensive care among others. They have more resource level which means that they can handle complex and severe illnesses like high-tech medical equipment in addition to specialized doctors and nurses. These may also be equipped with inpatient facilities where patients are admitted for either short or long-term treatment.
- Clinics: contrary clinics refer to small scale healthcare centers involving mostly outpatient services. Some clinics focus on aspects such as primary care, gynecology or pediatrics hence offering possibilities like regular checkups, immunization shots and minor surgical procedures. Though not necessarily however various diagnostic services inclusive of lab tests and imaging studies might also be offered by these clinics though they lack adequate resources that hospitals have.
DRIVING FACTORS
"Disease Progression to Augment the Market"
For the most part among males, prostate cancers are frequently treated with ADT. The prevalence of prostate cancer is growing thus leading to increased demand for androgen deprivation therapies (ADTs). Prostate cancer cells depend on hormones in order to multiply; therefore, lowering hormone levels can block their growth. For example, a combination of radiation therapy or surgery alongside treatments such as ADTs can enhance the outlook, for patients. In patients with advanced or metastatic prostate cancer, it helps to manage the disease process leading to improvement in quality of life.
"Adjuvant Therapy to Expand the Market"
ADT, on occasion, acts as an adjuvant in reducing the risk of recurrence either before or after surgery or radiation therapy. Besides, some patients’ characteristics such as their age group, general health and personal biases may also determine this decision to use ADT. This makes ADT use in certain situations a recommendation of clinical guidelines hence it is widely used in the treatment of prostate cancer. Hence, among others its role with other treatments in addition to clinical guidelines and overall, how effective is ADT when used for prostate cancer are key drivers towards its usage in clinical practice.
RESTRAINING FACTOR
"Risk of Cardiovascular Complications to Hinder Potential Market Growth "
These effects can affect lifestyle and make some patients to either quit or skip taking ADT. In some cases, these treatments can be used for long periods even up to a patient’s life time leading to what is known as treatment fatigue. Other findings have reported that ADT may boost chances of cardiovascular events like stroke and heart attack which are worrying more so in patients with already existing cardiac conditions.
ANDROGEN DEPRIVATION THERAPY (ADT) MARKET REGIONAL INSIGHTS
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East &Africa
The North America is the main hub for the androgen deprivation therapy (ADT) market share. There is also a higher prevalence of prostate cancer in USA hence increasing demand for ADT. On top of this, the region has a well-developed healthcare system, advanced medical technologies and high health expenditure that accelerates the growth in ADT market. Similarly, Europe and Asia-Pacific are other important markets with large shares having increasing prostate cancer incidences as well as improved access to healthcare services.
KEY INDUSTRY PLAYERS
"Key Industry Players Shaping the Market through Innovation and Market Expansion"
The market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.
List of Market Players Profiled
- Pfizer (U.S.)
- Astellas Pharma (Japan)
- Johnson & Johnson (U.S.)
- Novartis International (Switzerland)
- Merck (U.S.)
INDUSTRIAL DEVELOPMENT
April, 2021: Making sure that they stick to their treatment regimens may be made easier by releasing versions of ADT medicines such as those involving long-term injections. Meanwhile, there has been an increased tendency towards combining ADT with other clinical approaches such as radiotherapy or novel targeted therapies aimed at improving outcomes after treatment while minimizing chances of disease relapse.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. As a whole, it provides important insights into the market dynamics in a systematic manner that is easy to understand.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 5647 Million in 2019 |
Market Size Value By |
US$ 7971.1 Million by 2026 |
Growth Rate |
CAGR of 5% from 2019 to 2026 |
Forecast Period |
2022-2026 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the androgen deprivation therapy (ADT) market expected to touch by 2026?
The androgen deprivation therapy (ADT) market is expected to reach USD 7971.1 million by 2026.
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What CAGR is the androgen deprivation therapy (ADT) market expected to exhibit by 2026?
The androgen deprivation therapy (ADT) market is expected to exhibit a CAGR of 5.0% by 2026.
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Which are the driving factors of the androgen deprivation therapy (ADT) market?
Disease progression and adjuvant therapy are the driving factors of the androgen deprivation therapy (ADT) market.
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What are the key segments of the androgen deprivation therapy (ADT) market?
Medicine has been employing invasive techniques in diagnosing, treating and preventing illnesses using drugs, changes of lifestyle, and therapies. This includes those with expertise in fields like family medicine, internal medicine, pediatrics who address a variety of health issues without the need for surgery.