Prostate Specific Antigen (PSA) Testing Market Overview:
The global prostate-specific antigen testing market is primarily progressing growth because of the rise in prostate cancer among men, who are over 50 years in age. Furthermore, the adoption of various assay based methods and various new inventions for the diagnosis of prostate cancer has raised the demand for PSA testing. The combination of advanced technology for PSA testing has improved the accuracy and specificity of the results playing an important role in boosting the market. Europe contributes for a huge revenue market share for prostate specific antigen testing, accounting for nearly 45% of the global revenue. The market for prostate specific antigen testing in 2017 was $ 2264.84 million and is expected to reach $ 2774.12 million by 2023 at an estimated CAGR of 4.14% during forecast period of 2018-2023
Prostate Specific Antigen (PSA) Testing Market Outlook:
Prostate-specific antigen (PSA) is a type of glycoprotein secreted by epithelial prostatic cells. There are two forms of PSA that circulates freely through the body, either bound to other cells or on their own. The higher levels of the PSA indicate a higher chances of being affected by Prostate cancer. The PSA levels are measured by conducting tests such as Total prostate Specific Antigen Test (tPSA), Free Prostate Specific Antigen Test (fPSA), Complex Prostate Specific Antigen Test (cPSA), Prostate Specific Antigen Reverse Transcription Polymerase chain reaction test (PSA-RT PCR) and so on. In addition to these tests there are some assays for identification of the PSA levels such as Radioimmunoassay (RIA), Enzyme Immunoassay (EIA), PCA3Test, Trans-rectal Ultrasound, Biopsy and other tests. Further tests for Density of PSA and Velocity of PSA were identified, but had no such significance and acceptance.
Prostate specific Antigen Testing Market report comprises of pricing analysis for different types of PSA tests conducted segmented geographically. Europe accounted for price of $47.5 for PSA testing in 2017 and estimated to be $46.16 by 2022. Europe region has the highest prices for PSA Testing in 2017 and is also estimated to have the same in 2022 as well.
Prostate Specific Antigen (PSA) Testing Market Growth drivers:
Prostate specific antigen testing market is driving ahead because of the increase in geriatric population. Also, the increased public awareness about the benefits of the Prostate cancer screening, Technological advancements in testing and treating the Prostate cancer, Several Reimbursement policies for the prostate cancer treatments in various developed and developing regions are affecting the growth of Prostate specific antigen market. According to U.S. Census Bureau’s 2017 National Population Projections. By 2030, all baby boomers will be older than 65 so that 1 in every 5 residents will be in his or her retirement age. This indicates the growth in the size of geriatric population.
Prostate Specific Antigen (PSA) Testing Market Challenges:
Prostate specific antigen testing market need to face some hard situations because of the False-positive or False-negative results of PSA test. Also most of these tests like PSA Screening had a lot of side effects such as difficulties in flow of urine, effects on functioning of bowel, erectile dysfunction and frequent pains along with the false results, thereby hindering the growth of Prostate specific antigen testing market. Higher improvements in the technology resulting in most simplified and accurate results in the tests like Prostate Health Index (phi) can reduce the growth in PSA testing market unless there is a change in the way the tests are treated.
Prostate Specific Antigen (PSA) Testing Market Research Scope:
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the Prostate specific antigen testing market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, product and pricing analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of PSA tests in the Prostate specific antigen testing market, and their complete details including their forecast.
Prostate Specific Antigen (PSA) Testing Market Report: Industry Coverage
Prostate Specific Antigen Testing Market – By Tests 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, Biopsy.
Prostate Specific Antigen Testing Market – By Assays type: Radioimmunoassay (RIA), Enzyme Immunoassay (EIA).
The Prostate specific antigen testing market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
Prostate Specific Antigen (PSA) Testing Market Key Players Perspective:
Some of the Key players in this market that have been studied for this report include:
Abbott Laboratories, Inc., Bayer AG., Beckman Coulter, Inc., GE Healthcare, GlaxoSmithKline, plc., Novartis Pharma AG., UroLogix, Inc., Bristol - Myers Squibb Company, AstraZeneca plc. and so on.
Market Research and Market Trends of Prostate Specific Antigen (PSA) Testing Market
- A new test named Gallium-68 PSMA PET Scan has been came into light for locating the recurrence of prostate cancer in the patients. This scan evaluates the prostate cancer recurrence with PSA level of less than 2 ng/dl (Nanogram per Decilitre). This imaging helps in reducing the clinical risk after certain Radical procedures and biopsies.
- Diagnostic performance for prostate cancer is highly depended on the measurement of PSA ratio in clinical serum in the zone between 4.0 to 10.0 ng/Ml. Simultaneous detection of dual prostate specific antigens using Surface-Enhanced Raman Scattering-Based Immunoassay helps in diagnosing the prostate cancer more accurately.
- Prostate specific antigen testing is good in sensitivity but low in specificity resulting in false results and further biopsies which are not even required. After certain research identification of new reliable assay to measure Glypican-1 in plasma and serum using biomarkers has been taken place to improve detection of prostate cancer. Being a novel prostate cancer biomarker, its impact on improvement of treatments would be higher than before.
- A new assay named PSA Glycomics Assay reveals multiple glycoforms of PSA in urinary extract, including sialic acid linkage isomers as well the level of (core-)fucosylation. As per Cure for Cancer Foundation, Astellas Pharma B.V., the European Union and SCIEX. , Using this high performance PGA, evaluation of PSA glycosylation is possible for early detetion of Prostate Cancers.