Prostate Cancer Molecular Diagnostics Market Size, Share | Industry Report 2025

The global prostate cancer molecular diagnostics market was valued at $212.4 Million in 2017 and is forecast to grow at a modest 15.4 % CAGR between 2018 and 2025, culminating in 2025 global sales of $630.4 Million.

Individualized and targeted treatments are reshaping oncology. Key to personalized medicine lies in molecular pathology. Use of high throughput sequencing technologies and identification of therapeutic targets has led to the development of many molecular diagnostic tests, which are far more superior to the conventional pathology tests. Despite recent development in novel targets and potential markers, the implementation of tests to identify in clinical and pathology practice is hard to achieve.

Global oncology molecular diagnostic market is expected to grow at a faster rate than expected due to rising demand from physicians, failure rate of conventional diagnosis, better and early detection, reducing cost of molecular diagnostic, improvement reimbursement coverage, technological, rising prevalence of chronic diseases and rapid increase in the geriatric population across the globe. Moreover, high unmet needs across the developing and emerging nations is also expected to boost the molecular diagnostics over the next few years.

Colorectal cancer cases are now predominant with over 1.4 million new cases diagnosed each year. Obtaining an early diagnosis is critical as it is currently one of the deadliest cancers, totaling more than 600,000 deaths each year. Molecular diagnostics can help in the early identification of CRC to provide patients more options and the best opportunity to get the treatment they need.

Aging factors significantly contribute to the onset of several oncological conditions. For instance, the average age for stomach cancer diagnosis is 69 and about every 6 in 10 patients diagnosed are aged above 65. The American Cancer Society estimates that nearly 28,000 stomach cancer cases will be diagnosed in 2017, with 17,750 cases in men and 10,250 cases in women. In the UK, as per 2014 Cancer Research estimates, each year nearly 6,682 new cases are detected, and the average survival rate is 15%.

North America accounted for over 46% revenue share in 2016. The key reasons attributed for the high share include the high prevalence of stomach and GI cancers, strong reimbursement framework, highly skilled medical professionals, technological advancements and government support for R&D and innovation in medical devices sector. Moreover, the presence of high-end hospital and POC and high emphasis on preventive screening is expected to boost the usage rates over the forecast period.

Asia Pacific is expected to register the maximum CAGR of 7.5% through 2017 to 2025. The rapid increase in a number of cancer cases, growing healthcare expenditure and skill training, and improvement in reimbursement scenario are expected to favor the high market growth in the region.

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Key findings from the study: -
• Global oncology molecular diagnostic market is expected to grow at a faster rate than expected due to rising demand from physicians, failure rate of conventional diagnosis, better and early detection, reducing cost of molecular diagnostic, improvement reimbursement coverage, technological, rising prevalence of chronic diseases and rapid increase in the geriatric population across the globe.
• Reagents and kits are a large component of the overall market for Oncology Molecular Diagnostic. There are several options in the market for a wide range of usages from Thermo Fisher to Qiagen to Luminous Bioscience.
• Major players in the market include Cepheid, Beckton Dickinson, Gen Probe (Hologic), Qiagen, Roche Diagnostics, Bayer Healthcare, Dako, Abbott Laboratories, Danaher Corporation, Siemens, Sysmex Corporation, Grifols, and Biomérieux Sa.

Ameri Research has segmented the Prostate Cancer Molecular Diagnostics Market by Products, Test Location, Technology, Regional Outlook.

Market Segmentation:

Prostate Cancer Molecular Diagnostics Market by Products (Revenue, USD Million, 2014 – 2025)
• Instruments
• Reagents & Kits
• Software & Services

Prostate Cancer Molecular Diagnostics Market by Test Location (Revenue, USD Million, 2014- 2025)
• Clinics/Lab
• Point of Care

Prostate Cancer Molecular Diagnostics Market by Technology (Revenue, USD Million, 2014- 2025)
• PCR
• In Situ Hybridization
• Chips and microarrays
• Isothermal Nucleic Acid Amplification Technology (INAAT)
• Mass spectrometry
• Sequencing
• Transcription Mediated Amplification

Prostate Cancer Molecular Diagnostics Systems Regional Outlook (Revenue, USD Million, 2014- 2025)
• North America
o U.S.
o Canada

• Europe
o UK
o Germany
o France
o Italy
o Spain

• Asia Pacific
o Japan
o China
o India
o Australia

• Latin America
o Brazil
o Mexico
o Columbia

• Middle East and Africa
o South Africa
o Saudi Arabia

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