Prostate-Specific Antigen Test Market Size
Prostate-Specific Antigen Test Market size was valued at USD 3.9 billion in 2022 and is estimated to reach around USD 8.8 billion by 2032. The ongoing research in the field of prostate cancer diagnostics and therapy has resulted in the development of more advanced testing and prostate cancer treatment devices. These advancements increase the effectiveness of Prostate-specific antigen (PSA) testing for early detection and monitoring.
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Furthermore, with the aging population expanding and the notable prevalence of prostate cancer among older males, it is anticipated that the market will experience substantial growth in the coming years. According to a publication in the World Journal of Oncology, prostate cancer affects approximately 1 in 350 males under the age of 50, with the incidence rate increasing to 1 in every 52 men between the ages of 50 and 59. Among men over the age of 65, the incidence rate soars to nearly 60%. As the elderly population continues to grow, there will be a rising number of individuals at an elevated risk of prostate cancer. Consequently, this will lead to an increased demand for PSA testing.
Prostate-Specific Antigen Test Market Report Attributes
|Prostate-Specific Antigen Test Market Size in 2022:||USD 3.9 Billion|
|Forecast Period:||2023 to 2032|
|Forecast Period 2023 to 2032 CAGR:||8.3%|
|2032 Value Projection:||USD 8.8 Billion|
|Historical Data for:||2018 to 2022|
|No. of Pages:||200|
|Tables, Charts & Figures:||340|
|Segments covered:||Test Type, Application, End-use, and Region|
- Increasing incidence of prostate cancer
- Growing geriatric population
- Technological advancements in PSA testing
|Pitfalls & Challenges:|
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The prostate-specific antigen test is a diagnostic blood test that quantifies the bloodstream's concentration of PSA, a protein secreted by the prostate gland.
The recent outbreak of COVID-19 had negatively influenced the prostate-specific antigen test market revenue, specifically during the initial phase of 2020. The coronavirus outbreak proliferated the disease burden and hampered several global businesses including the healthcare sector, during the pandemic phase. These conditions severely impacted the PSA market growth. Several hospitals and healthcare facilities including diagnostic labs globally experienced a significant decline in patient visits for diagnosis and treatment of Prostate cancer.
Prostate-Specific Antigen Test Market Trends
The prostate-specific antigen (PSA) test industry is subject to several key factors, including technological advancements, evolving demographics, and shifting healthcare protocols. These dynamics significantly influence the demand for, accessibility of, and adoption of PSA testing.
- A rising trend in managing low-risk prostate cancer cases is the adoption of active surveillance. This approach, in contrast to immediate treatment, involves rigorous monitoring to determine the necessity of intervention.
- The market is continuously witnessing the development of more precise and sophisticated PSA testing methodologies. These innovations are geared toward reducing false positives, enhancing diagnostic accuracy, and providing a deeper understanding of prostate health.
- Additionally, Magnetic resonance imaging (mpMRI) is increasingly being employed in conjunction with PSA testing for visualizing the prostate gland. It plays a pivotal role in identifying and pinpointing suspicious areas, thereby guiding biopsy decisions, and significantly enhancing diagnostic accuracy.
Prostate-Specific Antigen Test Market Analysis
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The market by test type is categorized into preliminary tests and confirmatory tests. The preliminary tests segment is further segmented into total prostate specific antigen test, complex prostate specific antigen test, and free prostate specific antigen test. The confirmatory tests segment is further divided into PCA3 test, trans-rectal ultrasound, and biopsy. The preliminary tests segment was valued at USD 2.7 billion revenue in the year 2022.
- Advancements in genetic testing and biomarker testing have enabled the detection of specific indicators associated with a higher risk of prostate cancer. These tests can be valuable in assessing the need for preliminary testing.
- Furthermore, early detection of prostate cancer can lead to improved treatment outcomes. Preliminary tests play a vital role in identifying individuals at a higher risk, prompting the need for screening to detect cancer at an early and treatable stage.
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Based on application, the prostate-specific antigen test market is segmented into prostate cancer screening and prostate cancer monitoring. The prostate cancer screening segment dominated the market and accounted for over 54.3% business share in the year 2022 and is anticipated to witness significant growth during the forecast period.
- Prostate cancer predominantly affects older men, and the global aging population serves as a major catalyst for screening. With advancing age, the risk of developing prostate cancer rises, resulting in a heightened demand for screening among the elderly.
- In addition, the establishment of standardized protocols for prostate cancer screening is shaped by clinical guidelines and recommendations provided by medical organizations. These guidelines actively encourage collaborative decision-making between patients and healthcare providers, ultimately enhancing the efficacy and accessibility of screening processes.
The prostate-specific antigen test market by end-use is categorized into hospitals, specialty clinics, diagnostic centers, and other end-use. The hospitals segment was valued at USD 1.5 billion revenue size in the year 2022.
- The hospital segment is witnessing growth primarily due to a surge in patient awareness regarding the importance of regular prostate cancer screening. As the hospitals are well-equipped with advanced diagnostic equipment and experienced medical professionals. This makes them ideal facilities for conducting PSA tests accurately and providing comprehensive care for patients who require further evaluation or treatment.
- Moreover, hospitals are quick to embrace cutting-edge diagnostic technologies, including multiparametric magnetic resonance imaging (mpMRI) and other imaging methods. These advanced tools can complement PSA testing, leading to enhanced precision and diagnostic accuracy. As a result, this is expected to drive growth within this market segment.
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North America prostate-specific antigen test market accounted for USD 1.5 billion revenue size in 2022 and is predicted to witness substantial market growth over the analysis timeline.
- North America has emerged as a dynamic and burgeoning hub in the global prostate-specific antigen (PSA) testing market. This growth can be attributed to a combination of demographic shifts, increased awareness, and technological advancements within the region. A substantial proportion of men in this region fall into the 50 and older age group, and prostate cancer risk escalates with age. This demographic trend has consequently led to a rising demand for PSA testing. As a result, the region is expected to maintain its upward trajectory as awareness and technology continue to advance.
- Furthermore, North America has a well-developed healthcare infrastructure, with numerous hospitals, clinics, and diagnostic centers equipped to provide PSA testing services. Access to healthcare facilities is a significant driver, contributing to the market's progress.
Prostate-Specific Antigen Test Market Share
The prostate-specific antigen test industry is fragmented in nature, with companies competing to offer superior prostate-specific antigen test in this business space. Prominent players such as Abbott Laboratories Inc., Bio-Rad Laboratories, Inc., and Bayer AG hold a significant share in this market. These companies are diligently directing their efforts towards continuous test type innovation to gain substantial market share.
Some of the eminent market participants operating in the prostate-specific antigen test industry include:
- Abbott Laboratories Inc.
- AdvaCare Pharma
- Bayer AG
- Bio-Rad Laboratories, Inc.
- Beckman Coulter, Inc.
- FUJIREBIO is an H.U. Group company.
- GE HealthCare.
- Abcam plc.
- Lomina AG.
- Laboratory Corporation of America Holdings
Prostate-Specific Antigen Test Industry News:
- In March 2022, Novartis announced that the U.S. Food and Drug Administration (FDA) has approved Pluvicto for the treatment of adult patients with prostate-specific membrane antigen-positive metastatic castration-resistant prostate cancer (PSMA-positive mCRPC) that has spread to other parts of the body.
- In December 2021, OPKO Health, Inc. announced that the FDA approved the 4Kscore test. This test is permitted for use in males 45 and older who have never had a prostate biopsy or who have had a biopsy and have an age-specific abnormal total PSA and/or abnormal digital rectal exam (DRE).
Prostate-specific antigen test market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:
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By Test Type, 2018-2032 (USD Million)
- Preliminary tests
- Total prostate specific antigen test
- Complex prostate specific antigen test
- Free prostate specific antigen test
- Confirmatory tests
- PCA3 test
- Trans-rectal ultrasound
By Application, 2018-2032 (USD Million)
- Prostate cancer screening
- Prostate cancer monitoring
By End-use, 2018-2032 (USD Million)
- Specialty clinics
- Diagnostic centers
- Other end-users
The above information is provided for the following regions and countries:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa