Prostate Specific Antigen Testing Market Size, Share, Industry, Forecast and outlook (2024-2031)

Prostate-Specific Antigen Testing Market is Segmented By Type (Total Prostate-Specific Antigen Test, Complex Prostate-Specific Antigen Test, Free Prostate-Specific Antigen Test, Prostate-Specific Antigen Reverse Transcription Polymerase Chain Reaction Test, Trans-rectal Ultrasound, Biopsy), By Application (Screening, Post-treating monitoring, Others), By End-User (Hospitals, Clinics, Diagnostic Centers, Research Institute, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Prostate-Specific Antigen Testing Market Overview

Prostate Specific Antigen Testing Market is  Predicted  to grow at a CAGR of 4% during the forecast period (2023-2030).

Prostate specific antigen (PSA) is a protein that is only secreted by prostatic epithelial cells and is a valuable tumor marker for prostate cancer. Though not a prostate-specific molecule, its elevated presence in blood serum is used to screen men for prostate cancer. Increased PSA levels are linked to prostatitis, an inflammation of the prostate gland, or a benign form of prostatic hyperplasia. PSA testing is used with a digital rectal exam (DRE) to screen asymptomatic men for prostate cancer. PSA screening has grown in popularity among clinicians and healthcare providers to detect potential cases of prostate cancer and assist them in determining the nature of the problem.

Prostate-Specific Antigen Testing Market Summary

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Prostate-Specific Antigen Testing Market Dynamics

Due to the growing senior population, the market for prostate-specific antigen testing is booming. Increased public awareness about the benefits of prostate cancer screening, technological advancements in testing and treating prostate cancer, and various reimbursement policies for prostate cancer treatments in various developed and developing regions influence the growth of the prostate-specific antigen market.

The increase in prevalance of prostate cancer in the market will drive the market growth

The global prostate-specific antigen testing market is being driven primarily by the rising incidence of prostate cancer among men, particularly those over 50. Furthermore, after prostate cancer treatment, PSA levels must be monitored regularly.

In addition, the use of serum-based biomarkers for the diagnosis of prostate cancer has increased the demand for PSA testing. When combined with an array of advanced cancer-specific markers, PSA testing has increased the accuracy and specificity of the results, boosting the market.

However, overdiagnosis of clinically insignificant prostate cancer, combined with exaggeration of the results, is a major deterrent to the use of prostate-specific antigen testing. Several reimbursement policies in developed and developing countries cover annual PSA testing for men over 50. Furthermore, PSA testing as part of annual wellness coverage in developed countries such as the United States is expected to create promising opportunities for market players.This contributes to the growth of the Global Prostate Specific Antigen Testing   market.

False-positive or false-negative PSA test results is likely to hamper the market growth

Because of false-positive or false-negative PSA test results, the prostate-specific antigen testing market is facing some challenges. Furthermore, most of these tests, such as PSA screening, had several side effects, such as difficulties in urine flow, effects on bowel function, erectile dysfunction, and frequent pains, which hampered the growth of the Prostate-specific antigen testing market. Higher technological advancements that result in the most simplified and accurate results in tests such as the Prostate Health Index (phi) can limit the growth of the PSA testing market unless the way the tests are treated changes.

COVID-19 Impact Analysis on Prostate-Specific Antigen Testing Market

Manufacturers swiftly adjust their company practices and purchasing techniques to satisfy market demand as the COVID-19 problem worsens. Because the virus has spread over the globe, individuals are focusing more on their health and building immunity. PSA testing is a preventative measure for detecting prostate cancer early, and it will be in high demand during the predicted period. However, because it is not a life-or-death screening, it may take a backseat as the medical community deals with COVID-related emergencies.

Prostate-Specific Antigen Testing Market Segmentation Analysis

The biopsy segment is expected to grow at the fastest CAGR during the forecast period (2023-2030)     

Over the projection period, the biopsy segment is expected to grow rapidly. The rising number of operations, the rising number of prostate cancer cases, and the rising geriatic population contribute to the segment's growth. For instance, except for skin cancer, prostate cancer is the most common cancer in men. An estimated 248,530 men in the United States are diagnosed with prostate cancer this year according to cancer net. According to Cancer.org , Prostate cancer affects about 1 in every 8 men at some point in their lives.Older males and non-Hispanic Black men are more prone to acquire prostate cancer. Men over the age of 65 account for about 6 out of every 10 occurrences, whereas men under 40 are extremely rare. Men are diagnosed at an average age of 66.

Furthermore, several reimbursements and medical policies for prostate cancer treatments in various developing and developed regions may impact the growth of the biopsy segment  during the forecast period.

Prostate-Specific Antigen Testing Market Geographical Share

North America region holds the largest market share of global prostate specific antigen testing market

PSA testing is a popular service in North America. The rising incidence of prostate cancer and the resulting high mortality rate in the region's developed nations are driving the high demand for PSA screening. According to the American Society of Clinical Oncology (ASCO), prostate cancer is the second leading cause of death in men with cancer in the United States. Furthermore, advancements in healthcare and increased government focus on prostate cancer detection are expected to fuel the regional market. Furthermore, the presence of many key players in North America is a major factor driving market growth.

Asia-Pacific prostate specific antigen testing is growing at the fastest CAGR during the forecast period, owing to increased healthcare spending and increased awareness of prostate cancer and the preference for PSA testing as a first-line test for a repeat screening. Other factors that contribute to the market's growth include a large patient base of various chronic diseases such as prostate cancer, which contribute to the growth of the prostate specific antigen testing market.

Prostate-Specific Antigen Testing Market Companies and Competitive Landscape

The prostate specific antigen testing market is highly competitive with presence of local as well as global companies.  Some of the key players which are contributing to the growth of the market include Merck and Co.,Siemens Healthcare, DiaSorin, Roche, Beckman Coulter, Mediwatch(LABORIE),Bodi Tech,Bristol-Myers Squibb Company, GE Healthcare , Endocare ,GlaxoSmith Kline,Anixa Biosciences, Ortho Clinical,Fujirebio, Pharmacia Delfia., Medtronic Plc.

Some of the major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the blood and blood products market globally. For instance on December 29th, 2019, Anixa Biosciences, Inc. commercialized the Cchek Prostate Cancer Confirmation test (Cchek PCC), which detects prostate cancer using AI, artificial intelligence, liquid-biopsy technology, and flow cytometry.