Prostate Specific Antigen (PSA) Testing Market Analysis 2022: Size, Share, Sales, Growth, Revenue, Type, Application & Forecast to 2030

The global Prostate Specific Antigen (PSA) Testing Market size was $3.12 billion in 2021, and is expected to grow at a value of more than $5.88 billion by 2030, with a growing CAGR (Compound annual growth rate) of over 11% from 2022 to 2030.

Throughout the esteem time period, technological advancements in diagnostic tests are relied upon to help boost market extension. Specialists are at present concentrating on the utilization of Artificial Intelligence (AI) to distinguish prostate cancer growth, as indicated by the National Cancer Institute. Artificial intelligence (AI) calculations are used to identify troubling spots seen during an MRI filter that expect biopsies to affirm the presence of cancer cells. Artificial intelligence techniques are additionally being tried to further develop biopsy test examination with the goal to come up with productive and exact outcomes.

One more variable that is relied upon to fuel the extension of the prostate cancer diagnostics market is the expanding number of new market contenders. In contrast with standard PSA testing, this gadget is anticipated to provide extremely sensitive test discoveries. Therefore, expanded speculation by new participants is probably going to fuel significant market development. The excessive cost of the tests, then again, is likely to impede industry growth.

Significant supporters of the development of the worldwide prostate specific antigen (PSA) testing market are amplifying in reception of serum-based marker testing for the diagnosis of prostate cancer alongside its assessment with other creating cancer-specific markers, which upgrades the overall sensitivity of the test. In any case, risk of overtreatment and wrong diagnosis as a resultant of PSA screening can hinder the progression of this market.

Prostate Specific Antigen (PSA) Testing Market: Key Trends

Expanded Level of Awareness

Attributable to the developing aged populace, the market for prostate specific antigen testing is boosting. Rising public awareness about the advantages of prostate cancer screening, technological advancement in testing and treating prostate cancer, and an assortment of repayment approaches for prostate cancer growth, availability of medicines in different developed and developing countries are all impacting the development of the prostate specific antigen market. As indicated by the 2017 National Population Projections from the United States Census Bureau. By 2030, all baby boomers will age 60 or above. This reflects the expanding number of the geriatric populace.

False-positive or false-negative result of PSA

Ascribed to false positive or false negative PSA test discoveries, the prostate specific antigen testing market is subjected to severe challenges. Furthermore, the majority of these tests, like PSA Screening, have a few antagonistic impacts, for example, trouble passing urine, consequences on bowel function, erectile brokenness, and regular hurts, are hampering the development of the Prostate Specific Antigen Testing market. Higher innovative progressions leading to a smoothed out and precise outcome in tests like the Prostate Health Index (phi) may slow the development of the PSA testing industry except if the manner in which the tests are handled is changed.

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Prostate Specific Antigen (PSA) Testing Market: Segmentation Analysis

Prostate Specific Antigen (PSA) Testing Market based on test procedure

There are two types of products in this segment:

·        Preliminary Tests

·        Confirmatory Tests

Due to an increment in the recurrence of prostate cancer, the Preliminary Tests segment is probably going to hold the largest market share. The American Institute for Cancer Research asserts that the far and wide accessibility of PSA screening has helped early recognition and therapy, bringing about higher endurance rates. PSA testing are reliable to identify the undetected and small lesions that could possibly advance to a further developed phase of disease. Most men beyond 50 years old, as well as those belonging to the risk group should go for these tests since it can help diagnosing the illness before genuine side effects emerge.

By test type, the marketplace is bifurcated into total prostate specific antigen test (tPSA), complex prostate specific antigen test (cPSA), free prostate specific antigen test (fPSA), prostate specific antigen reverse transcription polymerase chain reaction test (PSA RT-PCR), PCA3Test, Trans-rectal ultrasound, and biopsy. Among these, the biopsy segment is anticipated to grow significantly over the forecast period owing to rising prevalence of cancer across the globe.

Based on assays type, the industry is fragmented into radioimmunoassay (RIA) and enzyme immunoassay (EIA).

On the basis of application prostate specific antigen (PSA) testing market is divided into screening, post-treatment monitoring, and others. Among these, post treatment monitoring segment is anticipated to gain traction over the forecast duration due to rising concerns about the after effect of medical treatment procedures like surgeries.

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Key Segments Reported:

• By test procedure (preliminary tests and confirmatory tests)

• By test type (total prostate specific antigen test (tPSA), complex prostate specific antigen test (cPSA), free prostate specific antigen test (fPSA), prostate specific antigen reverse transcription polymerase chain reaction test (PSA RT-PCR), PCA3Test, Trans-rectal ultrasound, and biopsy)

• By assays type (radioimmunoassay (RIA) and enzyme immunoassay (EIA)

• By application (screening, post-treatment monitoring, and others.)

Key Regions & Countries: North America (the United States, Canada, and Mexico), Europe (Germany, France, UK, Russia, and Italy), Asia-Pacific (China, Japan, Korea, India, and Southeast Asia), South America (Brazil, Argentina, Colombia, etc.), and The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa).

Report Scope:

·        Prostate Specific Antigen (PSA) Testing Market Forecast Years: 2021-2030

·        Prostate Specific Antigen (PSA) Testing Market Historical Years: 2018-2021

·        Prostate Specific Antigen (PSA) Testing Market 2021: USD 3.12 billion

·        Prostate Specific Antigen (PSA) Testing Market 2030: USD 5.88 billion

·        Prostate Specific Antigen (PSA) Testing Market CAGR: 11.2%

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