Prostate Specific Antigen (PSA) Test Global Market Report 2024 - By Size, Share, Trends, Report, Outlook By 2033

The prostate specific antigen (psa) test market size has grown rapidly in recent years. It will grow from $3.66 billion in 2023 to $4.13 billion in 2024 at a compound annual growth rate (CAGR) of 12.8%. The growth in the historic period can be attributed to increased awareness, aging population, medical advancements, clinical recommendations, pharmaceutical advancements.

The prostate specific antigen (psa) test market size is expected to see rapid growth in the next few years. It will grow to $6.4 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to advancements in test accuracy, personalized medicine approach, personalized medicine approach, global aging population. Major trends in the forecast period include shift towards biomarker combinations, technological innovations, point-of-care testing, digital health integration, focus on early detection and prevention.

Market Overview -
The prostate-specific antigen (PSA) test is a blood test that quantifies the presence of prostate-specific antigen in the body. This test is primarily used to screen for and monitor prostate cancer in men and measures the level of prostate-specific antigen in the blood.

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Increasing Prevalence Of Prostate Cancer Drives Growth In Prostate-Specific Antigen (PSA) Test Market
The increasing prevalence of prostate cancer is expected to propel the growth of the prostate-specific antigen (PSA) test market going forward. 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. It measures the level of PSA in the bloodstream, which will help with early detection and risk assessment. For instance, in March 2023, according to the reports shared by the American Society of Clinical Oncology (ASCO), a US-based professional oncology organization, in the US, an estimated 288,300 men were diagnosed with prostate cancer, and approximately 34,700 people died in 2023. Further, in 2020, globally, an estimated 1,414,259 people will be diagnosed with prostate cancer. Therefore, the rise in the prevalence of prostate cancer is driving the growth of the prostate-specific antigen (PSA) test market.

Competitive Landscape -
Major companies operating in the prostate specific antigen (psa) test market report are Siemens AG, F. Hoffmann-La Roche AG, Bayer AG, Abbott Laboratories, Becton Dickinson and Company, PerkinElmer Inc., Beckman Coulter Inc., Bio-Rad Laboratories Inc., Ortho-Clinical Diagnostics Inc., DiaSorin SpA, OPKO Health Inc., R&D Systems Inc., Meso Scale Diagnostics LLC, Tosoh America Inc., Fujirebio Europe N.V., Boditech Med Inc., DRG International Inc., BioVision Inc., Enzo Life Sciences Inc., RayBiotech Inc., Novus Biologicals LLC, Creative Diagnostics Inc., Elabscience, LifeSpan BioSciences Inc., American Laboratory Products Company Ltd., Accuquik Inc., AOBIOUS Inc., Boster Biological Technology Co. Ltd., Cell Biolabs Inc., Lomina AG

Technological Advancements Propel Innovation In The Prostate-Specific Antigen (PSA) Test Market
Technological advancements are the key trend gaining popularity in the prostate-specific antigen (PSA) test market. 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. Additionally, this screening test offers highly accurate, stratified risk assessment insights to guide clinical decisions for patients with elevated prostate-specific antigen (PSA) or abnormal digital rectal exam (DRE) findings. Moreover, it has the potential to improve prostate cancer screening and treatment.

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Key Segments -
The prostate specific antigen (psa) test market covered in this report is segmented -
1) By Type: Clinical Laboratory Improvement Amendments (CLIA), Enzyme-Linked Immunosorbent Assay (ELISA), Fluorescence Immunoassay (FIA), Other Types
2) By Application: Screening, Post-Treatment Monitoring, Other Applications
3) By End User: Hospitals, Diagnostic Centers, Research Institutes, Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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