Prostate Cancer Diagnostics Market Research by Expert: Growth Rate, Industry Statistics and Forecasts to 2027

The global prostate cancer diagnostics market is forecasted to reach USD 7,112.2 Million by 2027, according to a new report by Reports and Data. The prostate cancer diagnostics market is observing demand attributed to the rising incidence of prostate cancer. It is the most common cause of death occurring as a result of cancer in American men. It has been found that nearly 1 out of 41 men die of prostate cancer. According to recent estimations, around 33,330 men will die of the disease in the year 2020.

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Increasing awareness about cancer diagnosis at an early stage is a significant factor driving the market growth. A majority of prostate cancers or about 90.0% cases are detected when the disease is in the prostate gland and the nearby organs, and for such cases, the 5-year survival rate is about 100.0%, whereas the 5-year survival rate for the cases in which the disease has spread to other body parts is 31.0%.

Further key findings from the report suggest

    • Adenocarcinomas develop in the cells of the gland, which line the prostate gland and are the most commonly occurring prostate cancer, with about everyone suffering from the disease has this type.
    • PCA3 is a biomarker beneficial in improving the precision of prostate cancer diagnostics. The biomarker is preferred, due to its fairly high sensitivity and specificity during the diagnostic procedures.
    • Hospitals & clinics dominated the market in 2019. The factors including well-resourced operating & diagnostic rooms, higher purchasing power, the existence of highly skilled healthcare professionals, and improved health coverage for hospital-based healthcare services from several private and group insurance plans, among others, are responsible for the high market share of hospitals.
    • North America contributed to the largest market share in 2019. The market dominance is owing to the higher acceptance of advanced technologies, well-established healthcare diagnostic facilities, the surging incidence of prostate cancer, and the enactment of numerous initiatives for raising awareness about the disease in the region.

The ongoing pandemic is significantly changing the dynamics of the pharma and healthcare sector. Various countries are facing challenges such as shortage of medicines, vaccines, healthcare devices in hospitals. This is expected to open lucrative growth opportunities for market players in the coming years.

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Competitive Landscape:

The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.

Top Companies Profiled in the Report:

Abbott Laboratories, Siemens Healthineers, F. Hoffman La Roche Ltd., Danaher Corporation, Agilent Technologies, Myriad Genetics Inc., Becton, Dickinson, and Company, Diasorin SPA, Genomic Health, and Beckman Coulter Inc., among others.

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Prostate Cancer Diagnostics Market Segmentation:

Prostate Cancer Type Outlook (Revenue, USD Billion; 2017-2027)

  • Acinar Adenocarcinoma
  • Ductal Adenocarcinoma
  • Transitional Cell (or Urothelial) Cancer
  • Squamous Cell Cancer
  • Small Cell Prostate Cancer
  • Others

Test Type Outlook (Revenue, USD Billion; 2017-2027)

  • Preliminary Tests
  • Confirmatory Tests
    1. PCA3
    2. Transrectal Ultrasound
    3. Biopsy

End-User Outlook (Revenue, USD Billion; 2017-2027)

  • Hospitals & Clinics
  • Diagnostic Centers
  • Research Institutes
  • Others

Regional Outlook:

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
  • Latin America (Brazil, Rest of LATAM)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.

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