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Prostate Specific Antigen (PSA) Test Market Key Drivers, Trends, Growth, Outlook 2023-2032
Prostate Specific Antigen (PSA) Test Market
The Business Research Company's Prostate Specific Antigen (PSA) Test Global Market Report 2023 identifies increasing prevalence of prostate cancer as the major driver for the Prostate Specific Antigen (PSA) Test market's growth in the forecast period. Prostate cancer is a condition in which cancer arises in the prostate gland, a component of the male and female reproductive systems. The prostate-specific antigen (PSA) test is commonly used as a screening tool for prostate cancer in men.
The global prostate-specific antigen (PSA) test market is expected to grow from $3.24 billion in 2022 to $3.66 billion in 2023 at a compound annual growth rate (CAGR) of 13.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The prostate-specific antigen (PSA) test market is expected to reach $5.73 billion in 2027 at a CAGR of 11.8%.
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Major competitors in the Prostate Specific Antigen (PSA) Test market are Siemens AG, F. Hoffmann-La Roche AG, Bayer AG, Abbott Laboratories, Becton Dickinson and Company, PerkinElmer Inc.
A key trend in the Prostate Specific Antigen (PSA) Test market includes technological advancements. Major companies operating in the prostate-specific antigen (PSA) test market are developing advanced screening test tools to sustain their position in the market. For instance, in February 2023, LynxDx Inc., a US-based diagnostic company, launched MyProstateScore 2.0, a non-invasive urine prostate cancer screening test. This innovative test uses a combination of 18 biomarkers, including the novel gene fusion T2:ERG, to provide a personalized risk assessment for each patient.
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The Prostate Specific Antigen (PSA) Test market is segmented -
• By Type: Clinical Laboratory Improvement Amendments (CLIA), Enzyme-Linked Immunosorbent Assay (ELISA), Fluorescence Immunoassay (FIA), Other Types
• By Application: Screening, Post-Treatment Monitoring, Other Applications
• By End User: Hospitals, Diagnostic Centers, Research Institutes, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Prostate Specific Antigen (PSA) Test market.
The Business Research Company's "Global Prostate Specific Antigen (PSA) Test Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Prostate Specific Antigen (PSA) Test Market Include:
1. Executive Summary
2. Prostate Specific Antigen (PSA) Test Market Characteristics
3. Prostate Specific Antigen (PSA) Test Market Trends And Strategies
4. Prostate Specific Antigen (PSA) Test Market - Macro Economic Scenario
5. Global Prostate Specific Antigen (PSA) Test Market Drivers and Restraints
…………………………………………………………………………………
32. Global Prostate Specific Antigen (PSA) Test Market Competitive Benchmarking
33. Global Prostate Specific Antigen (PSA) Test Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Prostate Specific Antigen (PSA) Test Market
35. Prostate Specific Antigen (PSA) Test Market Future Outlook and Potential Analysis
36. Appendix
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