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Prostate-Specific Antigen Test Market Size

Report ID: GMI7136
Published Date: Oct 2023
Report Format: PDF

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Prostate-Specific Antigen Test Market Size

Prostate-Specific Antigen Test Market size was valued at USD 3.9 billion in 2022 and is estimated to reach around USD 8.8 billion by 2032. The ongoing research in the field of prostate cancer diagnostics and therapy has resulted in the development of more advanced testing and prostate cancer treatment devices. These advancements increase the effectiveness of Prostate-specific antigen (PSA) testing for early detection and monitoring.

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Furthermore, with the aging population expanding and the notable prevalence of prostate cancer among older males, it is anticipated that the market will experience substantial growth in the coming years. According to a publication in the World Journal of Oncology, prostate cancer affects approximately 1 in 350 males under the age of 50, with the incidence rate increasing to 1 in every 52 men between the ages of 50 and 59. Among men over the age of 65, the incidence rate soars to nearly 60%. As the elderly population continues to grow, there will be a rising number of individuals at an elevated risk of prostate cancer. Consequently, this will lead to an increased demand for PSA testing.

Prostate-Specific Antigen Test Market Report Attributes
Report Attribute	Details
Base Year:	2022
Prostate-Specific Antigen Test Market Size in 2022:	USD 3.9 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	8.3%
2032 Value Projection:	USD 8.8 Billion
Historical Data for:	2018 to 2022
No. of Pages:	200
Tables, Charts & Figures:	340
Segments covered:	Test Type, Application, End-use, and Region
Growth Drivers:	Increasing incidence of prostate cancer Growing geriatric population Technological advancements in PSA testing
Pitfalls & Challenges:	High cost of PSA testing

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The prostate-specific antigen test is a diagnostic blood test that quantifies the bloodstream's concentration of PSA, a protein secreted by the prostate gland.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Prostate-specific antigen test industry size was USD 3.9 billion in 2022 and is estimated to reach USD 8.8 billion by 2032 due to the ongoing research in the field of prostate cancer diagnostics and therapy.

The hospitals end-use segment was USD 1.5 billion in 2022 due to the surge in patient awareness regarding the importance of regular prostate cancer screening.

North America prostate-specific antigen test industry was worth USD 1.5 billion in revenue in 2022 due to demographic shifts, increased awareness, and rising technological advancements in the region.

Abbott Laboratories Inc., AdvaCare Pharma, Bayer AG, Bio-Rad Laboratories, Inc., Beckman Coulter, Inc., GE HealthCare, Abcam plc., Lomina AG, and Laboratory Corporation of America Holdings are some of the major prostate-specific antigen test companies.