Huge Growth in Prostate Cancer Diagnostics Market Development, Trends, Analysis & Forecasts 2021-2030: Siemens Healthcare Private Limited, Roche Diagnostics, MINOMIC, MDxHealth, Genomic Health, Inc.,

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Prostate is a small gland that is located near the urinary bladder in men. It is among the leading forms of cancer that lead to male deaths globally. In the U.S., for instance, studies show that around 11.11% of the total male population will be affected by prostate cancer in their lifetime. Over 191,000 men are expected to be affected by prostate cancer this year. Malignant growths can spread to other organs, like the bladder, leading to the failure of these organs. Early symptoms such as urinary dysfunction can denote prostate cancer. Diagnosing the cancer in the initial stages can help in increasing the survival rate. Prostate-specific antigen (PSA) blood test can help in determining the presence of cancerous cells in the prostate gland. Regular testing of men in the age group of 55-69 is recommended by the American Urological Association (AUA).

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The global prostate cancer diagnostics market was valued at US$ 732.64 Mn and is anticipated to witness a compound annual growth rate of 9.59% over the forecast period, owing to the rise in awareness regarding the severity of prostate cancer. Screening tests such as digital rectal exam (DRE) and prostate-specific antigen (PSA) tests constituted for a significant portion of the revenue in the global prostate cancer diagnostics market in 2018. The higher efficiency of these tests, coupled with the demand for early detection of prostate cancer in middle-aged men can be cited as a major reason for the higher share of this segment in terms of market revenue.

North America accounted for the highest share in the global prostate cancer diagnostics market, due to the rise in government awareness campaigns in the region, coupled with the higher number of detection tests performed by individuals.

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The companies are also incorporating technologies like artificial intelligence in diagnostics and treatment of prostate cancer. Munich-based Siemens Healthcare, for instance, has received CE certification for their AI-Pathway Companion Prostate Cancer device that aids medical practitioners in clinical decision making. The company also offers a complete range of Prostate Specific Antigen (PSA) which helps in early detection and monitoring of prostate cancer in individuals. Technologies such as AI will further push the growth of the global prostate cancer diagnostics market. Also, with the continuous spreading of the coronavirus, there is an increasing need to monitor individuals that are affected by diseases such as prostate cancer. Experts believe that the COVID-19 can have a devastating impact on individuals affected by lethal forms of cancer such as prostate cancer. Hence, there is an increasing demand for detection and diagnostics of prostate cancer amongst individuals.

Some of the players operating in the global prostate cancer diagnostics market are:

Siemens Healthcare Private Limited, Roche Diagnostics, MINOMIC, MDxHealth, Genomic Health, Inc., Exosome Diagnostics, amongst others.

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Global Prostate Cancer Diagnostics Market:

By Type
o Screening Tests
o Confirmatory Tests
o Blood-based assay
o Others

By Cancer types
o Acinar Adenocarcinoma
o Ductal Adenocarcinoma
o Transitional Cell (Or Urothelial) Cancer
o Squamous Cell Cancer
o Small Cell Prostate Cancer

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