Prostate Cancer Diagnostics Market Report

Prostate Cancer Diagnostics Market Analysis Report By Type (Preliminary Tests, Confirmatory Tests), By Region (North America, APAC, Europe, MEA, Latin America), And Segment Forecasts, 2018 - 2025

  • Published Date: Aug, 2018
  • Base Year for Estimate: 2017
  • Report ID: GVR-2-68038-548-9
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 75

Industry Insights

The global prostate cancer diagnostics market size was valued at USD 2.2 billion in 2017 and is anticipated to expand at a CAGR of 12.3% over the forecast period. Constant technological advancements in the field of cancer diagnostics is expected to be one of the major factors driving the growth of this market over the next few years.

Furthermore, rising disease prevalence across the globe is fueling the demand for prostate cancer diagnostics. For instance, according to the National Cancer Institute, U.S. Department of Health And Human Services, in 2018, around 1, 64,690 new cases are estimated to be diagnosed.

U.S. prostate cancer diagnostics market

In addition, as per a study conducted by the American Cancer Society, prostate cancer is the third leading cause of cancer-related deaths in U.S. Thus, increasing prevalence of the disease will have a major impact on market development.

Moreover, rising awareness levels regarding the availability of advance cancer diagnostics technologies, especially in the emerging regions, is also likely to contribute toward the market expansion. In addition to this, supportive initiatives by various governments across the globe would help boost the market growth.

Type Insights

Based on type, the prostate cancer diagnostics market is segmented into preliminary tests and confirmatory tests. Confirmatory tests are further segmented into Prostate Cancer Antigen (PCA3) test, trans-rectal ultrasound, and biopsy. Preliminary tests captured the largest market share of prostate cancer diagnostics in 2016. However, confirmatory tests segment is estimated to expand at the fastest GAGR owing to the benefits offered by these tests, which include their non-invasive nature, convenience and, low risk of infection.

In addition to the physical examination, tests used for the diagnosis of prostate cancer are Prostate-specific Antigen (PSA) test, Digital Rectal Exam (DRE), and Biomarker tests. The PSA test helps determine the level of PSA in blood. High levels of PSA may be an indication of cancer. Similarly, DRE is performed to detect the presence of lumpy, hard, and abnormal growth of prostate. Since determining the presence or absence of cancerous growth depends upon the skills and ability of physicians or doctors, the results of the tests may not be accurate.

Global prostate cancer diagnostics market

In addition, the test causes discomfort to patients, making them reluctant toward it. Owing to these factors, there is a high demand for the exclusion of this test from primary diagnostic methods. Thus, DRE is may witness a slow GAGR than the PSA tests during the forecast period. PCA3 is the most reliable diagnostic test than MA biopsy. Moreover, it is non-invasive and convenient for patients, which leads to increased adoption of this test.

Regional Insights

North America is the leading market, followed by Europe. Sophisticated healthcare infrastructure and availability of technologically advanced products is contributing toward the growth of this market. U.S., in particular, is the largest market for prostate cancer diagnostics across the world. These tests are widely adopted in the country Due to increasing disease prevalence and favorable government initiatives.

Asia Pacific is expected to exhibit the highest CAGR over the coming years on account of the presence of untapped opportunities in the emerging economies such as India and China. In addition, rapid economic growth and socio-cultural changes in this region have led to a westernized lifestyle resulting in the growth of the disease incidences. The demand of prostate cancer diagnostics is high in the Asian countries such as Japan and China.

Factors such as growing awareness regarding the disease, entry of major companies in the emerging countries of Asia Pacific are responsible for market growth in this region. Additionally, increasing healthcare spending has caused a rise in the adoption of technologically advanced products in countries such as China and India, which is expected to propel region’s market development. For instance, China’s annual expenditure is projected to grow at an average rate of 11.8% from 2014 to 2018.

Prostate Cancer Diagnostics Market Share Insights

Some of the key companies in the market are Myriad Genetics, Inc.; MDx Health; Abbott Laboratories; Siemens Healthcare GmbH; F. Hoffman-La Roche AG; Genomic Health; and OPKO Health, Inc. Most of these market players adopt strategies such as product launch, collaborations, and M&A to strengthen their industry position.

For instance, in August 2017, DiaSorin S.p.A. announced the agreement to acquire microtitre-based ELISA immunodiagnostic of Siemens Healthineers. This agreement will help DiaSorin to expand its product portfolio.

Report Scope

Attribute

Details

Base year for estimation

2017

Actual estimates/Historical data

2014 - 2016

Forecast period

2018 - 2025

Market representation

Revenue in USD Million & CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America & MEA

Country scope

U.S., Canada, U.K., Germany, China, Japan, Brazil, Mexico, & South Africa

Report coverage

Revenue, company share, competitive landscape, growth factors, trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global prostate cancer diagnostics market report on the basis of type and region:

  • Type Outlook (Revenue, USD Million, 2014 - 2025)

    • Preliminary Tests

    • Confirmatory Tests

      • PCA3Test

      • Trans-rectal Ultrasound

      • Biopsy

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • Japan

      • China

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa (MEA)

      • South Africa

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