Overview and Scope
The prostate-specific antigen (PSA) test is a blood test that quantifies the presence of prostate-specific antigen in the body. This test is primarily used to screen for and monitor prostate cancer in men and measures the level of prostate-specific antigen in the blood.
Sizing and Forecast
The prostate specific antigen (psa) test market size has grown rapidly in recent years. It will grow from $3.66 billion in 2023 to $4.13 billion in 2024 at a compound annual growth rate (CAGR) of 12.8%. The growth in the historic period can be attributed to increased awareness, aging population, medical advancements, clinical recommendations, pharmaceutical advancements.
The prostate specific antigen (psa) test market size is expected to see rapid growth in the next few years. It will grow to $6.4 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to advancements in test accuracy, personalized medicine approach, personalized medicine approach, global aging population. Major trends in the forecast period include shift towards biomarker combinations, technological innovations, point-of-care testing, digital health integration, focus on early detection and prevention.
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Segmentation & Regional Insights
The prostate specific antigen (psa) test market covered in this report is segmented –
1) By Type: Clinical Laboratory Improvement Amendments (CLIA), Enzyme-Linked Immunosorbent Assay (ELISA), Fluorescence Immunoassay (FIA), Other Types
2) By Application: Screening, Post-Treatment Monitoring, Other Applications
3) By End User: Hospitals, Diagnostic Centers, Research Institutes, Other End Users
North America was the largest region in the prostate specific antigen (PSA) test market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the prostate specific antigen (psa) test market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing prevalence of prostate cancer is expected to propel the growth of the prostate-specific antigen (PSA) test market going forward. Prostate cancer is a condition in which cancer arises in the prostate gland, a component of the male and female reproductive systems. The prostate-specific antigen (PSA) test is commonly used as a screening tool for prostate cancer in men. It measures the level of PSA in the bloodstream, which will help with early detection and risk assessment. For instance, in March 2023, according to the reports shared by the American Society of Clinical Oncology (ASCO), a US-based professional oncology organization, in the US, an estimated 288,300 men were diagnosed with prostate cancer, and approximately 34,700 people died in 2023. Further, in 2020, globally, an estimated 1,414,259 people will be diagnosed with prostate cancer. Therefore, the rise in the prevalence of prostate cancer is driving the growth of the prostate-specific antigen (PSA) test market.
Key Industry Players
Major companies operating in the prostate specific antigen (PSA) test market report are Siemens AG, F. Hoffmann-La Roche AG, Bayer AG, Abbott Laboratories, Becton Dickinson and Company, PerkinElmer Inc., Beckman Coulter Inc., Bio-Rad Laboratories Inc., Ortho-Clinical Diagnostics Inc., DiaSorin SpA, OPKO Health Inc., R&D Systems Inc., Meso Scale Diagnostics LLC, Tosoh America Inc., Fujirebio Europe N.V., Boditech Med Inc., DRG International Inc., BioVision Inc., Enzo Life Sciences Inc., RayBiotech Inc., Novus Biologicals LLC, Creative Diagnostics Inc., Elabscience, LifeSpan BioSciences Inc., American Laboratory Products Company Ltd., Accuquik Inc., AOBIOUS Inc., Boster Biological Technology Co. Ltd., Cell Biolabs Inc., Lomina AG
The prostate specific antigen (psa) test market report table of contents includes:
1. Executive Summary
2. Prostate Specific Antigen (PSA) Test Market Characteristics
3. Prostate Specific Antigen (PSA) Test Market Trends And Strategies
4. Prostate Specific Antigen (PSA) Test Market – Macro Economic Scenario
5. Global Prostate Specific Antigen (PSA) Test Market Size and Growth
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31. Prostate Specific Antigen (PSA) Test Market Other Major And Innovative Companies
32. Global Prostate Specific Antigen (PSA) Test Market Competitive Benchmarking
33. Global Prostate Specific Antigen (PSA) Test Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Prostate Specific Antigen (PSA) Test Market
35. Prostate Specific Antigen (PSA) Test Market Future Outlook and Potential Analysis
36.Appendix
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