Abiraterone Acetate Drugs Market: Introduction
- Abiraterone acetate drugs are anti-androgens (anti-testosterone) that are used to treat prostate cancer. They are classified as adrenal inhibitors and are a type of hormone therapy. They are orally active inhibitors of the steroidal enzyme CYP17A1.
- Abiraterone acetate drugs are utilized for the treatment of prostate cancer. According to the American Cancer Society, about 1 man in 8 would be diagnosed with prostate cancer during his lifetime.
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Key Drivers, Restrains, and Opportunities of Global Abiraterone Acetate Drugs Market
- Higher incidence of prostate cancer worldwide is expected to drive the abiraterone acetate drugs market during the forecast period. According to the American Cancer Society’s estimates, approximately 248,530 new cases were diagnosed and 34,130 men died from prostate cancer in 2020, in the U.S. Additionally, according to an article published by National Center for Biotechnology Information in 2020, 1,276,106 new cases were diagnosed and 358,989 men died worldwide in 2018.
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- Introduction of new abiraterone acetate drugs by pharmaceutical companies are anticipated to boost the drugs market. For instance, in January 2021, Amneal Pharmaceuticals received approval for an additional strength of 500 mg for generic abiraterone acetate tablets from USFDA. Furthermore, in June 2020, Dr Reddy’s Laboratories Limited launched the abiraterone acetate tablet in the U.S. market after USFDA approval.
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North America to Capture Major Share of Global Abiraterone Acetate Drugs Market
- North America is expected to account for a major share of the global abiraterone acetate drugs market due to higher incidence of prostate cancer and the presence of key players in the region. Moreover, high disposable income and increase in healthcare expenditure are anticipated to drive the market in the region.
- The abiraterone acetate drugs market in Asia Pacific is projected to expand at a rapid pace during the forecast period owing to a rise in the prevalence of prostate cancer and increase in awareness in the region.
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Key Players Operating in Global Abiraterone Acetate Drugs Market
The global abiraterone acetate drugs market is highly concentrated due to the presence of key players. A large number of manufacturers hold major share in their respective regions. Growth strategies adopted by leading players are likely to drive the global abiraterone acetate drugs market.
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