Global Prostate Specific Antigen (PSA) Test Market Report 2024: Size, Drivers, And Top Segments
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How is the Prostate Specific Antigen (PSA) Test Market Expected to Expand from 2024 to 2033?
The market size for the prostate specific antigen (psa) test has experienced swift growth in the past few years. The projected escalation is from $3.66 billion in 2023 to $4.13 billion in 2024, indicating a compound annual growth rate (CAGR) of 12.8%. Factors influencing this growth during the historical period include heightened awareness, an aging population, advancements in medicine and pharmaceuticals, and clinical guidelines.
The market for prostate specific antigen (psa) tests is projected to experience swift expansion in the forthcoming years. The market is anticipated to reach $6.4 billion in 2028 with a compound annual growth rate (CAGR) of 11.6%. The estimated growth during the forecast period can be credited to improvements in test precision, a personalized medicine approach, and the worldwide aging populace. The forecast period will likely see major market trends like a move towards the combination of biomarkers, technological advancements, point-of-care testing, integration of digital health, and an emphasis on early detection and prevention.
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What Influences Are Propelling the prostate specific antigen (psa) test Market Forward?
The surge in prostate cancer occurrences is predicted to boost the expansion of the Prostate-specific antigen (PSA) test market. The male and female reproductive systems consist of the prostate gland, where prostate cancer typically originates. Utilized majorly for men’s prostate cancer screening, the Prostate-specific antigen (PSA) test aids in early detection and risk evaluation by measuring the PSA level in the bloodstream. For example, the American Society of Clinical Oncology (ASCO), a professional oncology organization based in the US, reported in March 2023 that approximately 288,300 men were diagnosed with prostate cancer, and around 34,700 people lost their lives to it in 2023. Furthermore, it was predicted that by 2020, around 1,414,259 people globally would be diagnosed with prostate cancer. Hence, the increasing prevalence of prostate cancer is fueling the growth of the Prostate-specific antigen (PSA) test market.
What Key Segments Exist Within the Prostate Specific Antigen (PSA) Test Market?
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
What Trends Are Coming to the Forefront in the Prostate Specific Antigen (PSA) Test Market?
Advancements in technology are becoming a predominant trend in the prostate-specific antigen (PSA) test market. To remain competitive, major firms in the prostate-specific antigen (PSA) test market are producing superior screening test tools. For example, LynxDx Inc., a diagnostic company in the United States, introduced MyProstateScore 2.0, a non-invasive urine prostate cancer screening test, in February 2023. This state-of-the-art test employs a mix of 18 biomarkers, along with the newly discovered gene fusion T2:ERG, to deliver a custom risk evaluation for each patient. Not only does this screening test provide extremely precise, stratified risk assessment insights to aid in making clinical decisions for patients with elevated prostate-specific antigen (PSA) or abnormal digital rectal exam (DRE) results, but it also has the potential to enhance prostate cancer screening and treatment processes.
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What Regions Are Leading the Charge in the Prostate Specific Antigen (PSA) Test Market?
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
The Prostate Specific Antigen (PSA) Test Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the prostate specific antigen (psa) test market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Prostate Specific Antigen (PSA) Test Market Include
1. Prostate Specific Antigen (PSA) Test Market Executive Summary
2. Prostate Specific Antigen (PSA) Test Market Segments
3. Prostate Specific Antigen (PSA) Test Market Size And Template Market Growth Rate
4. Key Prostate Specific Antigen (PSA) Test Market Trends
5. Major Prostate Specific Antigen (PSA) Test Market Drivers
……
25. Key Mergers And Acquisitions In The Prostate Specific Antigen (PSA) Test Market
26. Top Prostate Specific Antigen (PSA) Test Companies
27. Prostate Specific Antigen (PSA) Test Market Opportunities And Strategies
28. Prostate Specific Antigen (PSA) Test Market, Conclusions And Recommendations
29. Appendix
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