Prostate cancer market to almost double to $8 billion by 2019, says GBI

The prostate cancer treatment market is forecast to increase from $4.1 billion in 2012 to $8 billion by 2019, at a compound annual growth rate (CAGR) of 10.1%, according to business intelligence provider GBI Research.

According to GBI’s latest report, the overall prevalence of prostate cancer across the eight leading markets (the USA, UK, France, Germany, Italy, Spain, Japan and Canada) is expected to increase from 3.3 million in 2012 to 3.9 million by 2019.

Dominic Trewartha, an analyst at GBI Research, said: “In many countries, prostate cancer is the second-most common cancer in males, excluding non-melanoma skin cancers. This contributes to a high financial burden among the elderly, with the lifetime cost of each patient amounting to around $110,520 in the USA.”