The global prostate cancer diagnostics market is forecasted to reach USD 7,112.2 Million by 2027, according to a new report by Reports and Data. The prostate cancer diagnostics market is observing demand attributed to the rising incidence of prostate cancer. It is the most common cause of death occurring as a result of cancer in American men. It has been found that nearly 1 out of 41 men die of prostate cancer. According to recent estimations, around 33,330 men will die of the disease in the year 2020.
Increasing awareness about cancer diagnosis at an early stage is a significant factor driving the market growth. A majority of prostate cancers or about 90.0% cases are detected when the disease is in the prostate gland and the nearby organs, and for such cases, the 5-year survival rate is about 100.0%, whereas the 5-year survival rate for the cases in which the disease has spread to other body parts is 31.0%.
The COVID-19 impact:
The COVID-19 pandemic has made it essential to repurpose the operating rooms for surgeries into intensive care units (ICUs) and pushed hospitals to accommodate patients beyond their full capacity of beds. As a result, in several cases, cancer patients' diagnostics and treatment were categorized as non-urgent. Further, the psychological influence of postponed diagnosis as a result of the COVID-19 pandemic cannot be undermined as when psychological, physical, and social health of patients are handled in a positive way, chances of patients’ survival have been seen to improve from a state of illness towards recovering from the disease. COVID-19 has had a significant and negative impact on cancer treatment and research, making a new health emergency for cancer patients’ management a necessity.
Top Companies Profiled in the Report Include:
Abbott Laboratories, Siemens Healthineers, F. Hoffman La Roche Ltd., Danaher Corporation, Agilent Technologies, Myriad Genetics Inc., Becton, Dickinson, and Company, Diasorin SPA, Genomic Health, and Beckman Coulter Inc., among others..
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Further key findings from the report suggest
- Adenocarcinomas develop in the cells of the gland, which line the prostate gland and are the most commonly occurring prostate cancer, with about everyone suffering from the disease has this type.
- PCA3 is a biomarker beneficial in improving the precision of prostate cancer diagnostics. The biomarker is preferred, due to its fairly high sensitivity and specificity during the diagnostic procedures.
- Hospitals clinics dominated the market in 2019. The factors including well-resourced operating diagnostic rooms, higher purchasing power, the existence of highly skilled healthcare professionals, and improved health coverage for hospital-based healthcare services from several private and group insurance plans, among others, are responsible for the high market share of hospitals.
- North America contributed to the largest market share in 2019. The market dominance is owing to the higher acceptance of advanced technologies, well-established healthcare diagnostic facilities, the surging incidence of prostate cancer, and the enactment of numerous initiatives for raising awareness about the disease in the region.
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The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, RD activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.
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Additionally, the report consists a detailed analysis of the segmentation of the Prostate Cancer Diagnostics market based on product types and end-use/application offered in the Prostate Cancer Diagnostics market.
Prostate Cancer Type Outlook (Revenue, USD Billion; 2017-2027)
Acinar Adenocarcinoma
Ductal Adenocarcinoma
Transitional Cell (or Urothelial) Cancer
Squamous Cell Cancer
Small Cell Prostate Cancer
Others
Test Type Outlook (Revenue, USD Billion; 2017-2027)
Preliminary Tests
Confirmatory Tests
PCA3
Transrectal Ultrasound
Biopsy
End-User Outlook (Revenue, USD Billion; 2017-2027)
Hospitals Clinics
Diagnostic Centers
Research Institutes
Others
The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the Prostate Cancer Diagnostics market in these key regions.
Country-wise regional analysis covers:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
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