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Global Prostate Specific Antigen (PSA) Testing Market growing at a CAGR of 11.2% from 2023 to 2030

Category : Pharmaceuticals And Healthcare | Published Date : Jun 2023

Key Market Overview

Consegic Business Intelligence analyzes that the global Prostate Specific Antigen (PSA) testing market is growing with a CAGR of 11.2% and is expected to reach USD 9,701.66 million in 2030 from USD 4,166.48 million in 2022.

The report highlights the increasing prevalence of various types of cancers that are driving the demand for Prostate Specific Antigen (PSA) Testing Market. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the Prostate Specific Antigen (PSA) testing market.

Global Prostate Specific Antigen (PSA) testing market By Overview

Global Prostate Specific Antigen (PSA) testing market

The Prostate Specific Antigen (PSA) Testing Market is bifurcated into test type and end user. Based on test type, the market is segmented into preliminary tests and confirmatory tests. In 2022, the preliminary tests segment dominated the overall Prostate Specific Antigen (PSA) testing market. The end user segment is categorized into hospital, cancer research institutes, diagnostic laboratory, ambulatory surgical centers, and others. In 2022, the hospital segment accounted for the highest market share in the Prostate Specific Antigen (PSA) testing market.

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Market Dynamics

Driver:

 

  • The growing prevalence of prostate cancer has augmented the demand for PSA testing.
  • Rising awareness of PSA testing is proliferating market growth.

 

Restraints:

  • The high cost of PSA testing may deter market growth.

Opportunity:

  • Increasing ease and availability of PSA testing kits for home use is likely to fuel the market growth.

Market Segmentation:

Report Attributes Report Details
By Test Type Preliminary Tests and Confirmatory Tests
By End User Hospital, Cancer Research Institutes, Diagnostic Laboratory, Ambulatory Surgical Centers, and Others
By Region North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Competitive Landscape :

The market is dominated by certain major companies such as Bio-Rad Laboratories, Inc., Beckman Coulter, Inc., and GE HealthCare have a strong market position in current market circumstances. Further, the Prostate Specific Antigen (PSA) Testing Market is expected to witness significant growth in the coming years due to the increase in geriatric population. The market players compete for a firm market position through mergers and acquisitions, product innovations, and business strategies. Thus, evolving research and developments are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.

  • Bio-Rad Laboratories, Inc.
  • AdvaCare Pharma
  • Beckman Coulter, Inc.
  • Proteomedix
  • Fujirebio (H.U. Group)
  • GE HealthCare
  • Abcam plc
  • Lomina AG
  • BioReference Health, LLC (OPKO Health, Inc.)
  • Laboratory Corporation of America Holdings
  • Hanzhou Testsea biotechnology co., LTD.