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 observed in the historical period can be attributed to factors such as increased awareness, an aging population, advancements in medical technology, clinical recommendations, and progress in pharmaceutical developments.
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 anticipated growth in the forecast period can be attributed to advancements in test accuracy, the adoption of a personalized medicine approach, and the impact of a globally aging population. Significant trends expected in the forecast period include a shift towards biomarker combinations, technological innovations, the integration of point-of-care testing, the incorporation of digital health solutions, and a heightened focus on early detection and prevention.
The projected expansion of the prostate-specific antigen (PSA) test market is fueled by the increasing incidence of prostate cancer. Prostate cancer, affecting the prostate gland in the male reproductive system, is a condition that warrants early detection and risk assessment. The PSA test serves as a prevalent screening tool for prostate cancer, measuring PSA levels in the bloodstream. Recent reports from the American Society of Clinical Oncology (ASCO) in March 2023 revealed that in the United States alone, an estimated 288,300 men were diagnosed with prostate cancer, with approximately 34,700 succumbing to the disease in 2023. Globally, it is anticipated that around 1,414,259 individuals will be diagnosed with prostate cancer in 2020. Consequently, the escalating prevalence of prostate cancer is a driving force behind the growth of the PSA test market.
The upswing in chronic diseases contributes to the burgeoning demand for PSA tests. Chronic diseases, characterized by prolonged medical conditions necessitating ongoing attention and management, include prostate cancer as one such condition. The PSA test emerges as a pivotal tool for screening, diagnosis, and monitoring the progression of prostate cancer. Predictions from the National Library of Medicine in 2022 anticipate a 99.5% rise in the number of individuals aged 50 and older with at least one chronic illness, reaching 142.66 million by 2050. Furthermore, the prevalence of multimorbidity is projected to increase by 91.16%, encompassing 14.968 million people in 2050. Hence, the upsurge in chronic diseases is poised to propel the PSA test market.
A prominent trend in the PSA test market is the integration of technological advancements. Key players in the market are actively developing advanced screening tools to maintain their competitive edge. LynxDx Inc., a US-based diagnostic company, exemplifies this trend with the launch of MyProstateScore 2.0 in February 2023. This non-invasive urine prostate cancer screening test employs 18 biomarkers, including the innovative gene fusion T2,ERG, for personalized risk assessment. MyProstateScore 2.0 not only delivers highly accurate, stratified risk assessment insights but also guides clinical decisions for patients exhibiting elevated PSA or abnormal digital rectal exam (DRE) findings.
Major companies in the PSA test market are focusing on product development and launches, such as home testing kits for PSA. Home testing kits, facilitating self-administered diagnostic procedures, offer convenience and accessibility. In September 2023, Randox, an Ireland-based health and toxicology company, unveiled an at-home testing kit for PSA. This kit enables individuals to measure PSA levels in their blood, providing indications of abnormalities within the prostate. Elevated PSA levels may signal various conditions, including an enlarged prostate, prostatitis, urinary tract infection, or the potential presence of prostate cancer.
In June 2021., Bayer AG, a Germany-based pharmaceutical and biotechnology company, acquired Noria Therapeutics Inc. and PSMA Therapeutics Inc. This acquisition aims to broaden Bayer's portfolio of targeted alpha therapies (TATs) for prostate cancer, gain access to Noria's non-invasive urine test, and fortify its position in the prostate cancer market. PSMA Therapeutics Inc., a subsidiary of Noria Therapeutics Inc., specializes in providing PSA test services for prostate cancer.
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.
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 countries covered in the prostate specific antigen (psa) test market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The main types of PSA tests include clinical laboratory improvement amendments (CLIA), enzyme-linked immunosorbent assay (ELISA), fluorescence immunoassay (FIA), and others. Clinical laboratory improvement amendments (CLIA) comprise a set of regulations governing laboratory testing, requiring clinical laboratories to obtain certification from the Centers for Medicare & Medicaid Services (CMS) before conducting diagnostic testing on human samples. These tests find applications in various areas, including screening and post-treatment monitoring, and are utilized by diverse end-users such as hospitals, diagnostic centers, research institutes, and others.
The prostate-specific antigen (PSA) test market research report is one of a series of new reports that provides prostate-specific antigen (PSA) test market statistics, including prostate-specific antigen (PSA) test industry global market size, regional shares, competitors with a prostate-specific antigen (PSA) test market share, detailed prostate-specific antigen (PSA) test market segments, market trends and opportunities, and any further data you may need to thrive in the prostate-specific antigen (PSA) test industry. This prostate-specific antigen (PSA) test market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The prostate-specific antigen (PSA) test market includes revenues earned by entities by providing services such as prostate cancer detection, monitoring, PSA screening, prostatitis evaluation, complex PSA tests, and blood tests. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
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 anticipated growth in the forecast period can be attributed to advancements in test accuracy, the adoption of a personalized medicine approach, and the impact of a globally aging population. Significant trends expected in the forecast period include a shift towards biomarker combinations, technological innovations, the integration of point-of-care testing, the incorporation of digital health solutions, and a heightened focus on early detection and prevention.
The projected expansion of the prostate-specific antigen (PSA) test market is fueled by the increasing incidence of prostate cancer. Prostate cancer, affecting the prostate gland in the male reproductive system, is a condition that warrants early detection and risk assessment. The PSA test serves as a prevalent screening tool for prostate cancer, measuring PSA levels in the bloodstream. Recent reports from the American Society of Clinical Oncology (ASCO) in March 2023 revealed that in the United States alone, an estimated 288,300 men were diagnosed with prostate cancer, with approximately 34,700 succumbing to the disease in 2023. Globally, it is anticipated that around 1,414,259 individuals will be diagnosed with prostate cancer in 2020. Consequently, the escalating prevalence of prostate cancer is a driving force behind the growth of the PSA test market.
The upswing in chronic diseases contributes to the burgeoning demand for PSA tests. Chronic diseases, characterized by prolonged medical conditions necessitating ongoing attention and management, include prostate cancer as one such condition. The PSA test emerges as a pivotal tool for screening, diagnosis, and monitoring the progression of prostate cancer. Predictions from the National Library of Medicine in 2022 anticipate a 99.5% rise in the number of individuals aged 50 and older with at least one chronic illness, reaching 142.66 million by 2050. Furthermore, the prevalence of multimorbidity is projected to increase by 91.16%, encompassing 14.968 million people in 2050. Hence, the upsurge in chronic diseases is poised to propel the PSA test market.
A prominent trend in the PSA test market is the integration of technological advancements. Key players in the market are actively developing advanced screening tools to maintain their competitive edge. LynxDx Inc., a US-based diagnostic company, exemplifies this trend with the launch of MyProstateScore 2.0 in February 2023. This non-invasive urine prostate cancer screening test employs 18 biomarkers, including the innovative gene fusion T2,ERG, for personalized risk assessment. MyProstateScore 2.0 not only delivers highly accurate, stratified risk assessment insights but also guides clinical decisions for patients exhibiting elevated PSA or abnormal digital rectal exam (DRE) findings.
Major companies in the PSA test market are focusing on product development and launches, such as home testing kits for PSA. Home testing kits, facilitating self-administered diagnostic procedures, offer convenience and accessibility. In September 2023, Randox, an Ireland-based health and toxicology company, unveiled an at-home testing kit for PSA. This kit enables individuals to measure PSA levels in their blood, providing indications of abnormalities within the prostate. Elevated PSA levels may signal various conditions, including an enlarged prostate, prostatitis, urinary tract infection, or the potential presence of prostate cancer.
In June 2021., Bayer AG, a Germany-based pharmaceutical and biotechnology company, acquired Noria Therapeutics Inc. and PSMA Therapeutics Inc. This acquisition aims to broaden Bayer's portfolio of targeted alpha therapies (TATs) for prostate cancer, gain access to Noria's non-invasive urine test, and fortify its position in the prostate cancer market. PSMA Therapeutics Inc., a subsidiary of Noria Therapeutics Inc., specializes in providing PSA test services for prostate cancer.
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.
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 countries covered in the prostate specific antigen (psa) test market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The main types of PSA tests include clinical laboratory improvement amendments (CLIA), enzyme-linked immunosorbent assay (ELISA), fluorescence immunoassay (FIA), and others. Clinical laboratory improvement amendments (CLIA) comprise a set of regulations governing laboratory testing, requiring clinical laboratories to obtain certification from the Centers for Medicare & Medicaid Services (CMS) before conducting diagnostic testing on human samples. These tests find applications in various areas, including screening and post-treatment monitoring, and are utilized by diverse end-users such as hospitals, diagnostic centers, research institutes, and others.
The prostate-specific antigen (PSA) test market research report is one of a series of new reports that provides prostate-specific antigen (PSA) test market statistics, including prostate-specific antigen (PSA) test industry global market size, regional shares, competitors with a prostate-specific antigen (PSA) test market share, detailed prostate-specific antigen (PSA) test market segments, market trends and opportunities, and any further data you may need to thrive in the prostate-specific antigen (PSA) test industry. This prostate-specific antigen (PSA) test market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The prostate-specific antigen (PSA) test market includes revenues earned by entities by providing services such as prostate cancer detection, monitoring, PSA screening, prostatitis evaluation, complex PSA tests, and blood tests. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Prostate Specific Antigen (PSA) Test Market Characteristics3. Prostate Specific Antigen (PSA) Test Market Trends and Strategies32. Global Prostate Specific Antigen (PSA) Test Market Competitive Benchmarking33. Global Prostate Specific Antigen (PSA) Test Market Competitive Dashboard34. Key Mergers and Acquisitions in the Prostate Specific Antigen (PSA) Test Market
4. Prostate Specific Antigen (PSA) Test Market - Macro Economic Scenario
5. Global Prostate Specific Antigen (PSA) Test Market Size and Growth
6. Prostate Specific Antigen (PSA) Test Market Segmentation
7. Prostate Specific Antigen (PSA) Test Market Regional and Country Analysis
8. Asia-Pacific Prostate Specific Antigen (PSA) Test Market
9. China Prostate Specific Antigen (PSA) Test Market
10. India Prostate Specific Antigen (PSA) Test Market
11. Japan Prostate Specific Antigen (PSA) Test Market
12. Australia Prostate Specific Antigen (PSA) Test Market
13. Indonesia Prostate Specific Antigen (PSA) Test Market
14. South Korea Prostate Specific Antigen (PSA) Test Market
15. Western Europe Prostate Specific Antigen (PSA) Test Market
16. UK Prostate Specific Antigen (PSA) Test Market
17. Germany Prostate Specific Antigen (PSA) Test Market
18. France Prostate Specific Antigen (PSA) Test Market
19. Italy Prostate Specific Antigen (PSA) Test Market
20. Spain Prostate Specific Antigen (PSA) Test Market
21. Eastern Europe Prostate Specific Antigen (PSA) Test Market
22. Russia Prostate Specific Antigen (PSA) Test Market
23. North America Prostate Specific Antigen (PSA) Test Market
24. USA Prostate Specific Antigen (PSA) Test Market
25. Canada Prostate Specific Antigen (PSA) Test Market
26. South America Prostate Specific Antigen (PSA) Test Market
27. Brazil Prostate Specific Antigen (PSA) Test Market
28. Middle East Prostate Specific Antigen (PSA) Test Market
29. Africa Prostate Specific Antigen (PSA) Test Market
30. Prostate Specific Antigen (PSA) Test Market Competitive Landscape and Company Profiles
31. Prostate Specific Antigen (PSA) Test Market Other Major and Innovative Companies
35. Prostate Specific Antigen (PSA) Test Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Prostate Specific Antigen (PSA) Test Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on prostate specific antigen (psa) test market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
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- Measure the impact of high global inflation on market growth.
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- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
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- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for prostate specific antigen (psa) test? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered: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
Key Companies Mentioned: Siemens AG; F. Hoffmann-La Roche AG; Bayer AG; Abbott Laboratories; Becton Dickinson and Company
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- 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
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | February 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 4.13 Billion |
| Forecasted Market Value ( USD | $ 6.4 Billion |
| Compound Annual Growth Rate | 11.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 30 |
