How Will the Prostate Specific Antigen (PSA) Test Market Grow? Key Trends and Opportunities for 2025 and Beyond
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How Will the Prostate Specific Antigen (PSA) Test Market Grow Over the Forecast Period Based on Its Expected CAGR?
The prostate-specific antigen (PSA) test market has experienced rapid growth in recent years. It is expected to rise from $4.15 billion in 2024 to $4.66 billion in 2025, with a CAGR of 12.1%. The historical expansion can be linked to growing awareness, an aging population, technological advancements, evolving clinical recommendations, and progress in pharmaceutical innovations.
The prostate-specific antigen (PSA) test market is projected to experience significant expansion over the next few years, reaching $7.29 billion by 2029 with a compound annual growth rate (CAGR) of 11.9%. Growth in this period will be driven by advancements in test accuracy, the shift toward personalized medicine, and the global aging population. Key trends include the adoption of biomarker combinations, technological innovations, point-of-care testing, digital health integration, and an increased focus on early detection and prevention.
Which Factors Are Enhancing the Growth of the prostate specific antigen (psa) test Market?
The increasing prevalence of prostate cancer is expected to fuel the growth of the prostate-specific antigen (PSA) test market. The PSA test is used for early prostate cancer detection. According to the American Society of Clinical Oncology, in March 2023, around 288,300 men in the U.S. were diagnosed with prostate cancer, leading to approximately 34,700 deaths. Thus, the rise in prostate cancer cases is driving the growth of the PSA test market.
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Who Are the Dominant Players Expanding Their Reach in the Prostate Specific Antigen (PSA) Test Market?
Major companies operating in the prostate specific antigen (PSA) test market include:
• Siemens AG_x000D_
• F. Hoffmann-La Roche AG_x000D_
• Bayer AG_x000D_
• Abbott Laboratories_x000D_
• Becton Dickinson and Company_x000D_
What Are the Top Trends Shaping the Evolution of the Prostate Specific Antigen (PSA) Test Market?
Technological advancements are also driving innovation in the prostate-specific antigen (PSA) test market. In February 2023, LynxDx Inc., a US-based diagnostic company, launched MyProstateScore 2.0, a non-invasive urine screening test for prostate cancer. This innovative test combines 18 biomarkers, including the novel T2:ERG gene fusion, to provide a personalized risk assessment and guide clinical decisions.
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Which Segments of the Prostate Specific Antigen (PSA) Test Market Hold the Most Potential for Future Development?
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
Subsegments:
1) By Clinical Laboratory Improvement Amendments (CLIA): CLIA Waived Tests, Non-CLIA Tests
2) By Enzyme-Linked Immunosorbent Assay (ELISA): Sandwich ELISA Kits, Competitive ELISA Kits
3) By Fluorescence Immunoassay (FIA): Point-Of-Care FIA, Laboratory-Based FIA
4) By Other Types: Chemiluminescent Immunoassay (CLIA), Radioimmunoassay (RIA)
Which Regions Are Setting the Pace for Prostate Specific Antigen (PSA) Test Market Growth?
North America was the largest region in the prostate specific antigen (PSA) test market in 2024. 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
How Is the Prostate Specific Antigen (PSA) Test Market Defined Across Different Regions?
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.
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