Global Prostate Cancer Diagnostics Market- Market Overview:

The Global Prostate Cancer Diagnostics market is expected to grow from USD 4.11 billion in 2022 to USD 11.16 billion by 2030, at a CAGR of 13.3% during the Projection period 2023-2030. The growth of this market is mainly driven owing to the increasing cases of prostate cancer globally.

Cancer of the prostate begins in the gland cells in the prostate, which can only be found in men. When prostate cancer is in the early stage, most men don't notice any changes. Prostate cancer signs typically appear later, after cancer has grown. Prostate cancer can cause difficulty peeing, blood in your urine, trouble getting erections, and back, hip, rib, or other bone pain. Prostate cancer incidence is primarily influenced by age, and it is rare under the age of 40, with the incidence rate increasing with age. Therefore, the factors fueling this market's growth are an ageing population and the high prevalence rate of prostate cancer. There are, however, some challenges faced by this market, such as a low success rate of clinical trials and high drug costs. Based on the data published by the Globocan 2020, prostate cancer makes up 7.3% of all cancer cases worldwide. Both developed and developing countries have experienced an increase in prostate cancer diagnostic demand as the focus on prostate cancer mortality has increased. As a result of government initiatives, an increase in public awareness about prostate cancer & existing treatments, and an increase in healthcare expenditures, the global market for prostate cancer services is expected to grow rapidly in the next few years.

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Market Dynamics:

Drivers:                          

• Prevalence of prostate cancer and rising awareness towards it

The rising prevalence of prostate cancer, rising treatment demand, growing awareness among people and availability of new treatments are key drivers influencing the prostate cancer diagnostics market. This type of cancer is more prevalent in adults, especially those over the age of 40. Hence, the increment in the geriatric population is fueling the market. Rise in awareness about prostate cancer, government initiatives and available progressive healthcare services and treatments due to rising healthcare expenditure are expected to drive the global market.

Restraints:                                             

• High cost of treatment and lack of professionals

There are a number of restraints that hinder market growth. The high costs of diagnostic tests have emerged to restrain the market’s growth. Moreover, the scarcity of trained professionals monitoring and operating the equipment is attributed to the degradation of the prostate cancer market. In addition to that, the frequent changes done by the government authorities are mostly hindering growth. Basically, the market growth is expected to be restricted by the low demand for medicines for prostate cancer and extended treatment times, especially in underdeveloped nations.

Opportunities:

• Technological advancements

Researchers are trying to use AI (Artificial Intelligence) in diagnosing prostate Cancer which can be fruitful in propelling the market growth rate. AI tools are basically examined the biopsy sample analysis in order to provide the results in a more efficient and accurate way in the near future. The expansion of the prostate cancer diagnostics market is mostly attributed to Innovative diagnostic & treatment options and rise in awareness about prostate disease.

Challenges:

• Failure to provide treatments and drugs in underdeveloped nations

It is expected that there will be a considerable limitation on the global market due to the high cost of the targeted therapies and some other immunotherapies.  Underdeveloped countries, especially in the therapeutics field, are expected to be restricted by a low level of awareness regarding technological advancements in the therapeutic area. Due to constant changes in reimbursement policies, combination therapies are becoming more and more costly, time spans used for treatment are extending and managing the drugs’ life cycle is becoming a major challenge, interfering with the market growth of prostate cancer.

Segmentation Analysis:

The global prostate cancer diagnostics market has been segmented based on test type, end-user, and region.

By Test Type

The test type segment includes confirmatory and preliminary. The preliminary segment led the largest share of the prostate cancer diagnostics market with a market share of around 58% in 2022. The preliminary test segment is dominated by the test type segment, this segment holds a large share of the market over the Projection period. Accordance to the American Institute for Cancer Research, PSA screening has helped early diagnose and treat cancers, increasing survival rates. PSA tests detect tumours that have not yet been recognized or have not yet reached an advanced stage.

By End-User

The end-user segment includes cancer research institutes, hospital-associated laboratories and independent diagnostics laboratories. The hospital-associated laboratories segment led the largest share of the prostate cancer diagnostics market with a market share of around 55.5% in 2022. Hospital-associated laboratories are expected to dominate the global prostate cancer diagnostics market during the Projection period due to an increase in prostate cancer cases. The Projection period is expected to be characterized by a growing disease prevalence and technological advancements that will drive market growth.

Global Prostate Cancer Diagnostics Market- Sales Analysis.

The sale of prostate cancer diagnostics expanded at a CAGR of 12% from 2016 to 2022

A PSA test is increasingly used to detect prostate cancer in men whose symptoms do not appear to be typical of the disease, thereby facilitating segment growth.

As government initiatives to improve research related to effective diagnosis and treatment rise during the Projection period, the market is expected to grow.

Huge potential for growth exists in the market, and new market players trying to enter the market by extending business via distribution agreements, as well as investing in prostate cancer diagnosis, will likely increase the market size and provide opportunities for prostate cancer diagnostics.

Thus, owing to the aforementioned factors, the global prostate cancer diagnostics market is expected to grow at a CAGR of 13.3% during the Projection period from 2023 to 2030.

By Regional Analysis:

The regions analyzed for the prostate cancer diagnostics market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region dominated the prostate cancer diagnostics market and held a 38% share of the market revenue in 2022.

• North American region witnessed a major share. A number of factors are contributing to North America's significant market share, including prostate cancer's increasing prevalence, increased awareness and increased research and development. Moreover, in response to the rise in prostate cancer cases, the major market players have increased their R&D activities to bring new and effective treatments to market. The market is expected to grow in the near future as 1.3 million prostate cancer cases were diagnosed in 2018. As a result, the rising incidence is expected to fuel market growth.
• Asia Pacific is anticipated to experience significant growth during the predicted period. Increasing consumption of westernized diets and a lack of physical activity are contributing to a rise in disease epidemiology in Asian countries, according to the National Institute of Health. The increasing prevalence of these diseases will therefore further necessitate the demand for diagnostic products in the coming years, resulting in a high regional growth rate.

Global Prostate Cancer Diagnostics Market - Country Analysis:

• Germany

Germany's prostate cancer diagnostics market size was valued at USD 0.31 billion in 2022 and is expected to reach USD 0.85 billion by 2030, at a CAGR of 13.5% from 2023 to 2030.

The prostate cancer diagnostics market is growing due to the introduction of innovative products, increasing awareness and various government initiatives. The market is expected to grow during the Projection period due to the exploration of emerging markets, strategic initiatives by market players, and increasing awareness about hair loss.

• China

China’s prostate cancer diagnostics market size was valued at USD 0.33 billion in 2022 and is expected to reach USD 0.92 billion by 2030, at a CAGR of 13.7% from 2023 to 2030.

Due to its large population, China is expected to dominate the Asia-Pacific prostate cancer diagnostics market since the number of tests there is higher than in other countries in the region, which will boost the market growth in the country.

• India

India's prostate cancer diagnostics market size was valued at USD 0.25 billion in 2022 and is expected to reach USD 0.69 billion by 2030, at a CAGR of 13.6% from 2023 to 2030.

A growing party culture, as well as a variety of festivals and functions, has increased the popularity of nail polish and nail art in the country, furthermore, the availability of numerous products, changes in consumption patterns, improved lifestyles, and an increase in personal care expenditure are expected to contribute to the growth of the nail industry in the future.

Key Industry Players Analysis:  

To increase their market position in the global prostate cancer diagnostics market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.

• MDXHEALTH
• Hoffmann-La Roche Ltd
• Genomic Health, Inc.
• Siemens Healthcare GmbH
• Abbott
• Metamark Genetics, Inc.
• HUMASIS
• FUJIREBIO
• OPKO Health, Inc.
• bioMérieux, Inc.
• Diasorin S.P.A.

Latest Development:

• In March, 2020 DiaSorin S.p.A and TTP plc, a well-known product development company and a leading independent technology announced their newly signed exclusive licensing and technology transfer agreement and according to it the DiaSorin company will gain access to TTP’s Puckdx TM, a low-cost and flexible platform for accessing the automation of sample-to-answer diagnostic assays. This will gain the advancements in diagnostic business profile for the company and will be helpful in future business development.
• In October 2020 Siemens Healthcare GmbH launched Biograph Vision Quadra Extended Axial FoV PET/CT Scanner. This scanner is known to be the most sensitive extended field view industry scanner specially designed for clinical & research purposes. The product will increase the demand for cancer diagnostic procedures and be highly useful for clinical purposes which eventually increases the revenue for the company.

Report Metrics

Report Attribute	Details
Study Period	2022-2030
Base year	2022
CAGR (%)	13.3%
Market Size	4.11 billion in 2022
Projection period	2023-2030
Projection unit	Value (USD)
Segments covered	By Test Type, By End-User, and By Region.
Report Scope	Revenue Projection, competitive landscape, company ranking, growth factors, and trends
Companies covered	MDXHEALTH, F. Hoffmann-La Roche Ltd, Genomic Health, Inc., Siemens Healthcare GmbH, Abbott, Metamark Genetics, Inc., HUMASIS, FUJIREBIO, OPKO Health, Inc., bioMérieux, Inc., and Diasorin S.P.A.
By Test Type	Confirmatory Preliminary
By End-User	Cancer Research Institutes Hospital Associated Laboratories Independent Diagnostics Laboratories
Regional scope	North America Europe Asia-Pacific South America Middle East and Africa

Scope of the Report

Global Prostate Cancer DiagnosticsMarket by Product:

• Confirmatory
• Preliminary

Global Prostate Cancer DiagnosticsMarket by End-User:

• Cancer Research Institutes
• Hospital Associated Laboratories
• Independent Diagnostics Laboratories

Global Prostate Cancer DiagnosticsMarket by Region:

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • Korea
  • Southeast Asia
• South America
  • Brazil
  • Peru
• Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia

Political Factors- The prostate cancer therapeutics market should thoroughly analyse the taxation policies that are relevant to the business before deciding whether to expand. Industries that are high priorities for the government will benefit more from tax policy. Many developing nations' governments currently want to cut business taxes in an effort to draw in foreign direct investment. prostate cancer therapeutics market ought to take into account these nations since their low tax rates will make it simpler to turn a profit and spend in R&D, innovation, and new product development projects.

Economic Factors- Exchange rate fluctuations can have an impact on a company's profitability. In order to accurately predict exchange rate variations and prevent unintended trade and business performance implications, the prostate cancer therapeutics market should do this research. A high interest rate means that the prostate cancer therapeutics market will have to make payments at a high rate of interest, increasing the overall cost of the loans received. For the prostate cancer therapeutics market, achieving growth goals in mature businesses close to saturation can be more difficult. Therefore, when selecting the nations for international expansion, the industry lifecycle stage must be taken into account.

Social Factors- Respect for hierarchy and social class stratification are two significant social characteristics that might affect the prostate cancer therapeutics market's commercial, marketing, and human resource management initiatives. When entering nations with high power distance, the prostate cancer therapeutics market is most comfortable in hierarchical structures with formal work cultures. The requirement for efficient market segmentation techniques is also indicated by increased social stratification because the prostate cancer therapeutics market cannot target many categories from various social classes using the same marketing mix.

Technological Factors- prostate cancer therapeutics market should favor nations with advanced technology infrastructure since these nations make it simpler for businesses to pursue goals like cost reduction, innovation, and value creation. A well-developed technological infrastructure also shows that it will be more difficult for the prostate cancer therapeutics market to use technology to gain a sustained competitive advantage because it might be easily duplicated by rivals. Technological innovation's velocity and progress can impact the market and industry as a whole. prostate cancer therapeutics market will be able to comprehend the rate of new product creation, the length of the product life cycle, and the unique features that consumers choose by researching the upcoming technological innovation trends. prostate cancer therapeutics market can determine whether switching to e-commerce will be more advantageous than starting a physical store by doing research on consumers' sentiments regarding cutting-edge, emerging digital technology.

Environmental Factors- prostate cancer therapeutics market should favor nations with advanced technology infrastructure since these nations make it simpler for businesses to pursue goals like cost reduction, innovation, and value creation. A well-developed technological infrastructure also shows that it will be more difficult for the prostate cancer therapeutics market to use technology to gain a sustained competitive advantage because it might be easily duplicated by rivals. Technological innovation's velocity and progress can impact the market and industry as a whole. prostate cancer therapeutics market will be able to comprehend the rate of new product creation, the length of the product life cycle, and the unique features that consumers choose by researching the upcoming technological innovation trends. prostate cancer therapeutics market can determine whether switching to e-commerce will be more advantageous than starting a physical store by doing research on consumers' sentiments regarding cutting-edge, emerging digital technology.

Legal Factors- A broad category of laws protecting employees' rights, including those to a fair salary, equality, equity, inclusion, fairness, and their physical and mental safety, is known as employment law. While some nations lack efficient enforcement of employment laws, others have harsh penalties for violating any of the specified rights of employees. prostate cancer therapeutics market should safeguard the safety of the working environment while entering or operating in such nations. There must be appropriate systems in place to prevent both direct and indirect discrimination. In the continuous competition for talent, effective compliance with employment rules can aid the prostate cancer therapeutics market in enhancing its employer brand reputation, which is critical for luring and keeping top personnel in the market.

1. Introduction
   • 1. Objectives of the Study
   • 2. Market Definition
   • 3. Research Scope
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
   • 1. Porter’s Five Forces Analysis
   • 2. Value Chain Analysis
   • 3. Top Investment Pockets
     • 3.1. Market Attractiveness Analysis By Test Type
     • 3.2. Market Attractiveness Analysis By End-User
     • 3.3. Market Attractiveness Analysis By Region
   • 4. Industry Trends
5. Market Dynamics
   • 1. Market Evaluation
   • 2. Drivers
     • 2.1. Prevalence of prostate cancer and rising awareness towards it
   • 3. Restraints
     • 3.1. High cost of treatment and lack of professionals
   • 4. Opportunities
     • 4.1. Technological advancements
   • 5. Challenges
     • 5.1. Failure to provide treatments and drugs in underdeveloped nations

6. Global Prostate Cancer Diagnostics Market Analysis and Projection, By Test Type
   • 1. Segment Overview
   • 2. Confirmatory
   • 3. Preliminary
7. Global Prostate Cancer Diagnostics Market Analysis and Projection, By End-User
   • 1. Segment Overview
   • 2. Cancer Research Institutes
   • 3. Hospital Associated Laboratories
   • 4. Independent Diagnostics Laboratories
8. Global Prostate Cancer Diagnostics Market Analysis and Projection, By Regional Analysis
   • 1. Segment Overview
   • 2. North America
     • 2.1. U.S.
     • 2.2. Canada
     • 2.3. Mexico
   • 3. Europe
     • 3.1. Germany
     • 3.2. France
     • 3.3. U.K.
     • 3.4. Italy
     • 3.5. Spain
   • 4. Asia-Pacific
     • 4.1. Japan
     • 4.2. China
     • 4.3. India
   • 5. South America
     • 5.1. Brazil
   • 6. Middle East and Africa
     • 6.1. UAE
     • 6.2. South Africa

9. Global Prostate Cancer Diagnostics Market-Competitive Landscape
   • 1. Overview
   • 2. Market Share of Key Players in the Prostate Cancer Diagnostics Market
     • 2.1. Global Company Market Share
     • 2.2. North America Company Market Share
     • 2.3. Europe Company Market Share
     • 2.4. APAC Company Market Share
   • 3. Competitive Situations and Trends
     • 3.1. Technology Launches and Developments
     • 3.2. Partnerships, Collaborations, and Agreements
     • 3.3. Mergers & Acquisitions
     • 3.4. Expansions

10. Company Profiles
    • MDXHEALTH
      • 1.1. Business Overview
      • 1.2. Company Snapshot
      • 1.3. Company Market Share Analysis
      • 1.4. Company Technology Portfolio
      • 1.5. Recent Developments
      • 1.6. SWOT Analysis
    • Hoffmann-La Roche Ltd
      • 2.1. Business Overview
      • 2.2. Company Snapshot
      • 2.3. Company Market Share Analysis
      • 2.4. Company Technology Portfolio
      • 2.5. Recent Developments
      • 2.6. SWOT Analysis
    • Genomic Health, Inc.
      • 3.1. Business Overview
      • 3.2. Company Snapshot
      • 3.3. Company Market Share Analysis
      • 3.4. Company Technology Portfolio
      • 3.5. Recent Developments
      • 3.6. SWOT Analysis
    • Siemens Healthcare GmbH
      • 4.1. Business Overview
      • 4.2. Company Snapshot
      • 4.3. Company Market Share Analysis
      • 4.4. Company Technology Portfolio
      • 4.5. Recent Developments
      • 4.6. SWOT Analysis
    • Abbott
      • 5.1. Business Overview
      • 5.2. Company Snapshot
      • 5.3. Company Market Share Analysis
      • 5.4. Company Technology Portfolio
      • 5.5. Recent Developments
      • 5.6. SWOT Analysis
    • Metamark Genetics, Inc.
      • 6.1. Business Overview
      • 6.2. Company Snapshot
      • 6.3. Company Market Share Analysis
      • 6.4. Company Technology Portfolio
      • 6.5. Recent Developments
      • 6.6. SWOT Analysis
    • HUMASIS
      • 7.1. Business Overview
      • 7.2. Company Snapshot
      • 7.3. Company Market Share Analysis
      • 7.4. Company Technology Portfolio
      • 7.5. Recent Developments
      • 7.6. SWOT Analysis
    • FUJIREBIO
      • 8.1. Business Overview
      • 8.2. Company Snapshot
      • 8.3. Company Market Share Analysis
      • 8.4. Company Technology Portfolio
      • 8.5. Recent Developments
      • 8.6. SWOT Analysis
    • OPKO Health, Inc.
      • 9.1. Business Overview
      • 9.2. Company Snapshot
      • 9.3. Company Market Share Analysis
      • 9.4. Company Technology Portfolio
      • 9.5. Recent Developments
      • 9.6. SWOT Analysis
    • bioMérieux, Inc.
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Technology Portfolio
      • Recent Developments
      • SWOT Analysis
    • Diasorin S.P.A.
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Technology Portfolio
      • Recent Developments
      • SWOT Analysis

List of Table

1. Global Prostate Cancer Diagnostics Market, By Test Type, 2023–2030 (USD Billion)
2. Global Confirmatory, Prostate Cancer Diagnostics Market, By Region, 2023–2030 (USD Billion)
3. Global Preliminary, Prostate Cancer Diagnostics Market, By Region, 2023–2030 (USD Billion)
4. Global Prostate Cancer Diagnostics Market, By End-User 2023–2030 (USD Billion)
5. Global Cancer Research Institutes, Prostate Cancer Diagnostics Market, By Region, 2023–2030 (USD Billion)
6. Global Hospital Associated Laboratories, Prostate Cancer Diagnostics Market, By Region, 2023–2030 (USD Billion)
7. Global Independent Diagnostics Laboratories, Prostate Cancer Diagnostics Market, By Region, 2023–2030 (USD Billion)
8. Global Prostate Cancer Diagnostics Market, By Region, 2023–2030 (USD Billion)
9. North America Prostate Cancer Diagnostics Market, By Test Type, 2023–2030 (USD Billion)
10. North America Prostate Cancer Diagnostics Market, By End-User 2023–2030 (USD Billion)
11. USA Prostate Cancer Diagnostics Market, By Test Type, 2023–2030 (USD Billion)
12. USA Prostate Cancer Diagnostics Market, By End-User 2023–2030 (USD Billion)
13. Canada Prostate Cancer Diagnostics Market, By Test Type, 2023–2030 (USD Billion)
14. Canada Prostate Cancer Diagnostics Market, By End-User 2023–2030 (USD Billion)
15. Mexico Prostate Cancer Diagnostics Market, By Test Type, 2023–2030 (USD Billion)
16. Mexico Prostate Cancer Diagnostics Market, By End-User 2023–2030 (USD Billion)
17. Europe Prostate Cancer Diagnostics Market, By Test Type, 2023–2030 (USD Billion)
18. Europe Prostate Cancer Diagnostics Market, By End-User 2023–2030 (USD Billion)
19. Germany Prostate Cancer Diagnostics Market, By Test Type, 2023–2030 (USD Billion)
20. Germany Prostate Cancer Diagnostics Market, By End-User 2023–2030 (USD Billion)
21. France Prostate Cancer Diagnostics Market, By Test Type, 2023–2030 (USD Billion)
22. France Prostate Cancer Diagnostics Market, By End-User 2023–2030 (USD Billion)
23. UK Prostate Cancer Diagnostics Market, By Test Type, 2023–2030 (USD Billion)
24. UK Prostate Cancer Diagnostics Market, By End-User 2023–2030 (USD Billion)
25. Italy Prostate Cancer Diagnostics Market, By Test Type, 2023–2030 (USD Billion)
26. Italy Prostate Cancer Diagnostics Market, By End-User 2023–2030 (USD Billion)
27. Spain Prostate Cancer Diagnostics Market, By Test Type, 2023–2030 (USD Billion)
28. Spain Prostate Cancer Diagnostics Market, By End-User 2023–2030 (USD Billion)
29. Asia Pacific Prostate Cancer Diagnostics Market, By Test Type, 2023–2030 (USD Billion)
30. Asia Pacific Prostate Cancer Diagnostics Market, By End-User 2023–2030 (USD Billion)
31. Japan Prostate Cancer Diagnostics Market, By Test Type, 2023–2030 (USD Billion)
32. Japan Prostate Cancer Diagnostics Market, By End-User 2023–2030 (USD Billion)
33. China Prostate Cancer Diagnostics Market, By Test Type, 2023–2030 (USD Billion)
34. China Prostate Cancer Diagnostics Market, By End-User 2023–2030 (USD Billion)
35. India Prostate Cancer Diagnostics Market, By Test Type, 2023–2030 (USD Billion)
36. India Prostate Cancer Diagnostics Market, By End-User 2023–2030 (USD Billion)
37. South America Prostate Cancer Diagnostics Market, By Test Type, 2023–2030 (USD Billion)
38. South America Prostate Cancer Diagnostics Market, By End-User 2023–2030 (USD Billion)
39. Brazil Prostate Cancer Diagnostics Market, By Test Type, 2023–2030 (USD Billion)
40. Brazil Prostate Cancer Diagnostics Market, By End-User 2023–2030 (USD Billion)
41. Middle East and Africa Prostate Cancer Diagnostics Market, By Test Type, 2023–2030 (USD Billion)
42. Middle East and Africa Prostate Cancer Diagnostics Market, By End-User 2023–2030 (USD Billion)
43. UAE Prostate Cancer Diagnostics Market, By Test Type, 2023–2030 (USD Billion)
44. UAE Prostate Cancer Diagnostics Market, By End-User 2023–2030 (USD Billion)
45. South Africa Prostate Cancer Diagnostics Market, By Test Type, 2023–2030 (USD Billion)
46. South Africa Prostate Cancer Diagnostics Market, By End-User 2023–2030 (USD Billion)

List of Figures 

1. Global Prostate Cancer Diagnostics Market Segmentation
2. Prostate Cancer Diagnostics Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Prostate Cancer Diagnostics Market Attractiveness Analysis By Test Type
9. Global Prostate Cancer Diagnostics Market Attractiveness Analysis By End-User
10. Global Prostate Cancer Diagnostics Market Attractiveness Analysis By Region
11. Global Prostate Cancer Diagnostics Market: Dynamics
12. Global Prostate Cancer Diagnostics Market Share By Test Type (2023 & 2030)
13. Global Prostate Cancer Diagnostics Market Share By End-User (2023 & 2030)
14. Global Prostate Cancer Diagnostics Market Share by Regions (2023 & 2030)
15. Global Prostate Cancer Diagnostics Market Share by Company (2021)