What Is The Current and Historic Market Size Analysis Of The Prostate Specific Antigen (PSA) Test Market?
The prostate specific antigen (psa) test market has seen considerable growth due to a variety of factors.
•The market size for the prostate specific antigen (PSA) test has seen a fast-paced expansion in the past few years. The market, which was valued at $4.15 billion in 2024, is projected to rise to $4.66 billion in 2025, showcasing a compound annual growth rate (CAGR) of 12.1%.
Factors such as heightened awareness, an aging demographic, advancements in medical technology, clinical endorsements, and pharmaceutical progressions have all contributed to the growth experienced in the historic period.
What Are The Predictions for The Prostate Specific Antigen (PSA) Test Market Size In The Coming Years?
The prostate specific antigen (psa) test market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, the market size for the prostate specific antigen (PSA) test is predicted to witness a swift expansion. The report suggests it will increase to $7.29 billion in 2029, with a compound annual growth rate (CAGR) of 11.9%.
This projected growth for the forecast period can be justified by factors such as enhancements in the accuracy of the test, a personalized approach to medicine, and an aging global population. Key trends anticipated in the forecast period encompass a transition towards the integration of biomarkers, technological modernizations, point-of-care testing, the incorporation of digital health, along with an emphasis on early detection and prevention.
Which Drivers Are Accelerating Growth In The Prostate Specific Antigen (PSA) Test Market?
The surge in prostate cancer cases is anticipated to fuel the rise of the prostate-specific antigen (PSA) test market. Prostate cancer occurs in the prostate gland, a part of both male and female reproductive systems. The PSA test is widely utilized to screen men for prostate cancer, as it gauges the PSA level in blood, assisting in early detection and risk evaluation. For instance, the American Society of Clinical Oncology (ASCO) reported in March 2023, that around 288,300 men in the US were diagnosed with prostate cancer, leading to nearly 34,700 deaths the same year. Hence, the escalating frequency of prostate cancer is instigating the growth of the PSA test market.
What Are The Core Segments Of The Global Prostate Specific Antigen (PSA) Test Market?
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)
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Which Emerging Trends Are Reshaping The Prostate Specific Antigen (PSA) Test Market Size?
Profound advancements in technology have emerged as a major trend gaining momentum in the prostate-specific antigen (PSA) test market. To maintain their competitive edge, primary firms in the PSA test market are focusing on the development of state-of-the-art screening tools. For example, in February 2023, LynxDx Inc., a diagnostics corporation based in the US, unveiled MyProstateScore 2.0, a revolutionary non-invasive urine test for prostate cancer screening. This test employs an array of 18 biomarkers, including the ground-breaking gene fusion T2:ERG, to generate individual risk assessments for patients. In addition to that, this test provides highly precise, tiered risk assessment details, thereby aiding medical practitioners in making clinical decisions for patients showing elevated levels of PSA or abnormal digital rectal exam (DRE) results. The test further holds the capability to enhance the process of prostate cancer screening and treatment.
Who Are the Key Players in the Prostate Specific Antigen (PSA) Test Market?
Major companies operating in the prostate specific antigen (PSA) test market include:
• 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.
What are the Regional Insights into the Prostate Specific Antigen (PSA) Test Market?
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
