The prostate cancer diagnostics market was estimated to be over $3 billion globally in 2020 and is anticipated to grow at an astounding CAGR of over 10% through 2031. The market is being driven by increased awareness of the importance of routine exams and early treatment. Furthermore, the lack of a prostate cancer test that works for everyone has forced people to concentrate on early detection, spurring growth.
Increased knowledge of the value of routine screenings and early treatment is driving the market for prostate cancer diagnostics. Additionally, because there is no prostate cancer test that is accurate for everyone, people are forced to focus on early detection, which promotes growth.
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Market Titans
- Abbott Laboratories
- Biocept Inc.
- AstraZeneca Plc.
- Vyant Bio Inc.
- Danaher Corporation
- Bayer Aktiengesellschaft
- Becton Dickinson and Company
- Agilent Technologies
- Foundation Medicine Inc.
- Myriad Genetics Inc
Key Statistics Supporting the Surge
- China prostate cancer diagnostics market is expected to contribute 40% of its revenue in the global market.
- Based on end users, the hospital segment is anticipated to surge at 8% CAGR from 2021 to 2031.
- The USA prostate cancer diagnostics market is anticipated to elevate at a CAGR of 9% by 2031.
- Based on test type, the CTC segment surged to US$ 141 million by the end of 2021 in the global prostate cancer diagnostics market.
- By test type, the PSA segment surpassed US$ 270 million by 2021 in the global prostate cancer diagnostics market.
Competition Dashboard
- For instance, Siemens Healthcare GmbH is focusing on developing scanners for detecting cancer carrying tissues. The end users demand for scanners that would study tissues at an early stage has increased. Thus, the company’s Vision Quadra Extended Axial scanner is extremely sensitive and can be used for clinical purposes.
- Likewise, Becton Dickinson and Company (BD) offers an entire portfolio dedicated to prostate health. Under this umbrella, the company offers brachytherapy, prostate biopsy and radiofrequency ablation techniques respectively.
- In July 2021, AstraZeneca Plc. acquired Alexion Pharmaceuticals Inc. This venture marks an entry of the former into the rare disease sector, including cancer diagnostics and treatment. Both companies will collaborate on developing medicines to manage rare diseases, including prostate cancer.
Key Segments Covered
- By Test Type
- PSA
- PCA3
- CTC
- Immunohistochemistry
- By End User
- Hospitals
- Independent Diagnostic Laboratories
- Cancer Research Institutes
- Others
- By Regions
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
Key Imeratives
- The Prostate Cancer Diagnostics market study often examines important trends, risks and incentives, components, industry conditions, and difficulties in the global market.
- The report employed a variety of data and graphs to present a more complete picture of the Prostate Cancer Diagnostics market.
- The global analysis contained a preliminary assessment of the industry’s size as well as a full review of the sector.
- This research gives a fast snapshot of the current situation of worldwide regions.
- The Prostate Cancer Diagnostics report includes top sellers, unions, stores, malls, and enterprises.
- The report also contains comprehensive insights into the market segmentation.
- What will be the demand outlook for the prostate cancer diagnostics market during the forecast period?
- What are the challenges faced in the prostate cancer diagnostics market?
- Which end user will lead the growth in the prostate cancer diagnostics market from 2021 to 2031?
- What is the projected market valuation of the prostate cancer diagnostics market in 2031?
- What are the factors driving the prostate cancer diagnostics market from 2021 to 2031?
- Which region will generate the maximum revenue in the prostate cancer diagnostics market?
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