Prostate Cancer Diagnostics Market
Prostate Cancer Diagnostics Market Study by PSA, PCA3, and CTC Tests for Hospitals, Independent Diagnostic Laboratories, and Cancer Research Institutes from 2024 to 2034
Analysis of Prostate Cancer Diagnostics Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Prostate Cancer Diagnostics Market Outlook (2024 to 2034)
The global prostate cancer diagnostics market is estimated at a value of US$ 4.18 billion in 2024. As per this recently published report by Fact.MR, worldwide revenue from prostate cancer diagnostics is projected to rise at a CAGR of 10% and reach US$ 10.84 billion by 2034.
Prostate cancer is one of the most common types of cancer in men. The rising cases of prostate cancer are driving high demand for effective diagnostic solutions. The risk of prostate cancer increases with age. High obesity leads to prime chances of having prostate cancer. Several studies suggest that prostate cancer growth is more aggressive in obese people.
Awareness regarding regular check-ups and early treatments is expected to drive the demand for advanced prostate cancer diagnostic technologies. Additionally, the absence of a one-test-fits-all approach to prostate cancer is pushing people to focus on timely detection.
Increasing geriatric population across the world along with continuous innovations in the healthcare sector is expected to uplift the prostate cancer diagnostics market growth in the coming years. The rising healthcare spending by governments worldwide is further generating opportunities for prostate cancer diagnostic solution providers.
- The North American prostate cancer diagnostics market size is projected to reach US$ 2.63 billion by 2034.
- East Asia is expected to capture 22.4% of the global prostate cancer diagnostics market share in 2024.
| Report Attribute | Detail |
|---|---|
| Prostate Cancer Diagnostics Market Size (2024E) | US$ 4.18 Billion |
| Forecasted Market Value (2034F) | US$ 10.84 Billion |
| Global Market Growth Rate (2024 to 2034) | 10% CAGR |
| South Korea Market Value (2034F) | US$ 578.5 Million |
| CTC Test Demand Growth Rate (2024 to 2034) | 12.9% CAGR |
| Key Companies Profiled | Bayer AG; F. Hoffmann-La Roche Ltd; ACON Laboratories, Inc.; HUMASIS; Vyant Bio Inc.; Danaher Corporation; Teco Diagnostics; Hologic Inc.; Abbott Laboratories; Biocept Inc.; AstraZeneca Plc.; AccuQuik Test Kits; MDxHealthcare; Siemens Healthcare GmbH; OPKO Health Inc.; Foundation Medicine Inc.; Myriad Genetics Inc.; DiaSorin S.p.A; bioMérieux SA; Metamark Genetics, Inc.; Prostatype Genomics; Fujirebio; Becton Dickinson and Company; Agilent Technologies; Proteomedix; Eurolyser Diagnostica GmbH. |
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What is a Key Prostate Cancer Diagnostics Market Trend?
“Integration of Digital Technologies to Offer Accurate and Reliable Prostate Cancer Diagnostic Solutions”
Development of improved screening techniques is one of the notable prostate cancer diagnostics market trends. Effective prostate cancer treatment depends upon early detection. Advanced cancer diagnostic technologies can help to get quick and accurate screening of disease. Prostate-specific antigen (PSA) testing is one of the effective technologies in the early detection of prostate cancer. Liquid biopsy and DNA probes-based diagnostic solutions are also effective in cancer detection.
Integration of artificial intelligence (AI) and machine learning (ML) algorithms is set to offer reliable and accurate diagnostic solutions. Digital technologies such as AI, ML, the Internet of Things (IoT), and predictive data analytics are contributing to the development of advanced imaging technologies such as positron emission tomography (PET), magnetic resonance imaging (MRI), and multiparametric MRI. These technologies are effective in providing accurate images of the prostate gland aiding doctors to identify abnormalities and implement efficacious treatment procedures. Thus, technological advancements are projected to boost the profits of prostate cancer diagnostic technology providers.
Which Issues Should Prostate Cancer Diagnostic Solution Producers Focus On?
“Lack of Awareness and High Costs Associated with Diagnosis”
Even though technological breakthroughs are expected to offer high-growth opportunities for prostate cancer diagnostic solution providers lack of knowledge or awareness of cancer type is expected to hamper their revenue growth to some extent. People in developing countries are unaware of the prostate cancer and its symptoms. Leading manufacturers should focus on awareness programs to increase the early detection of disease.
High costs of screening are also one of the factors hampering the prostate cancer diagnostic solution sales growth. Patients with low income are often deterred from being diagnosed with cancer due to high screening costs.
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Start-Up Ecosystem
- Enrich Bioscience is a Canada-based start-up that offers DNA methylation detection solutions for cancer diagnosis. By detecting anomalous DNA methylation, the start-up's solution offers accurate and specific methylation data. This solution is effective in performing accurate, non-invasive cancer screening for individuals.
- SAGA Diagnostics is a Swedish start-up that offers dPCR testing technology for cancer detection. The company’s SAGAsafe solutions provide accurate detection of various cancer types through a non-invasive in-vitro diagnostic (IVD) kit.
Country-wise Analysis
Why is the United States Ahead in Cancer Care Innovation?
“Sophisticated Healthcare Institutions Offering Advanced Prostate Cancer Diagnostic Technologies”
| Attribute | United States |
|---|---|
| Market Value (2024E) | US$ 444.6 Million |
| Growth Rate (2024 to 2034) | 10.5% CAGR |
| Projected Value (2034F) | US$ 1.2 Billion |
- As per estimations by to American Cancer Society in 2024 about 299,010 new cases of prostate cancer are expected to be detected in the United States.
Prevalence of prostate cancer and the presence of advanced healthcare infrastructure are expected to push the sales of prostate cancer diagnostic technologies in the United States in the years ahead. Strong existence of biotech firms and research institutions in the United States is further leading to the development of advanced prostate cancer screening technologies.
Why are Prostate Cancer Diagnostic Solution Producers Expected to Do Well in Japan?
“High Presence of Target Patients Driving Need for Advanced and Reliable Prostate Cancer Diagnostic Technologies”
| Attribute | Japan |
|---|---|
| Market Value (2024E) | US$ 270.6 Million |
| Growth Rate (2024 to 2034) | 10.5% CAGR |
| Projected Value (2034F) | US$ 736.3 Million |
Strong presence of an aging population who are more prone to chronic disorders such as cancer is anticipated to offer profitable opportunities for prostate cancer diagnostic service providers. Aged men have a high chance of having prostate cancer. Japan is also ahead in technological innovations and the medical sector is no exception. Thus, the high patient pool and availability of advanced diagnosis technologies are driving the market growth in Japan.
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Category-wise Analysis
Why are Sales of Prostate-Specific Antigen (PSA) Tests High?
“PSA Tests Effective in Early Cancer Tumor Detection”
| Attribute | PSA Tests |
|---|---|
| Segment Value (2024E) | US$ 1.66 Billion |
| Growth Rate (2024 to 2034) | 9.8% CAGR |
| Projected Value (2034F) | US$ 4.21 Billion |
Prostate-specific antigen (PSA) tests are projected to exhibit high sales during the study period (2024 to 2034). Prostate-specific antigen tests can detect small and unrecognized cancer cells effectively. This test can detect cancer tumors before the occurrence of symptoms. Thus, the demand for PSA tests is high.
Which End User Accounts for High Revenue Generation?
“Hospitals Prime Preference for Treatment of Prostate Cancer”
| Attribute | Hospitals |
|---|---|
| Segment Value (2024E) | US$ 1.41 Billion |
| Growth Rate (2024 to 2034) | 9.7% CAGR |
| Projected Value (2034F) | US$ 3.57 Billion |
Patients primarily prefer hospitals for the diagnosis and treatment of chronic disorders. The presence of advanced healthcare technologies and skilled professionals makes hospitals the prime preference for treatment procedures. Hospitals are also well known for effective chronic disease treatment such as cancer. Hospitals offer various range of services including initial screening to advanced treatment.
Competitive Landscape
Key players in the prostate cancer diagnostics market are focused on integrating the digital technologies such as artificial intelligence and machine learning for studying tissue formation and determining the accuracy of the same. The introduction of advanced prostate cancer diagnostic technologies aids leading companies in uplifting their market position and shares.
Collaborations with research institutions and partnerships with other players are expected to boost the product folio and profits of key market players. Regional expansion is also an effective strategy to find opportunities in untapped regions.
- The Mount Sinai Robert F. Smith Mobile Prostate Cancer Screening Unit was launched in April 2022 to improve the early detection of prostate cancer among at-risk populations in New York City.
- In March 2022, miR Scientific and Leonie Hill Capital joined hands for the commercialization of the miR Sentinel™ Prostate Cancer Test in Singapore and Southeast Asia.
Fact.MR provides detailed information about the price points of key providers of prostate cancer diagnostic solutions positioned across the world, sales growth, production capacity, and speculative technological expansion, in the recently updated market report.
Key Segments of Prostate Cancer Diagnostics Market Research
-
By Test Type :
- PSA
- PCA3
- CTC
- Others
-
By End User :
- Hospitals
- Independent Diagnostic Laboratories
- Cancer Research Institutes
-
By Region :
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
- FAQs -
How big is the prostate cancer diagnostics market in 2024?
The global prostate cancer diagnostics market is approximated at US$ 4.18 billion in 2024.
What is the projected market value for prostate cancer diagnostics by 2034?
The market for prostate cancer diagnostics is forecasted to reach US$ 10.84 billion by 2034.
What is the estimated market growth rate for the next decade?
Demand for prostate cancer diagnostics is foreseen to increase at a CAGR of 10% from 2024 to 2034.
Which region holds a leading market share in 2024?
North America is expected to capture 23.9% of the global market share in 2024.
What is the sales outlook for prostate cancer diagnostics in Japan?
The market in Japan has been calculated to reach US$ 736.3 million by 2034.
Which type of prostate cancer diagnostic test is most widely popular?
PSA test sales are evaluated at US$ 1.66 billion in the year 2024.
Who are the well-known producers of prostate cancer diagnostics solutions?
Leading market players are Bayer AG, F. Hoffmann-La Roche Ltd, ACON Laboratories, Inc., Teco Diagnostics, and Danaher Corporation.
What are the best diagnostics for prostate cancer?
The two most common tests are the digital rectal examination (DRE) and prostate-specific antigen (PSA) blood tests.
Prostate Cancer Diagnostics Market