PSA Test Market Size, Share, Growth, And Industry Analysis, By Type (ELISA, CLIA and Others), By Application (Post-treatment Monitoring, Screening and other), Regional Forecast From By 2033

PSA TEST MARKET REPORT OVERVIEW

• 

   Request a Free Sample To Get More Information on this Market

The global PSA test market size was USD 0.442 billion in 2024 & the market is expected to reach USD 1.225 billion in 2033, exhibiting a CAGR of 12.0% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the PSA test market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Human blood PSA levels are determined by a prostate-specific antigen test. Among a man's reproductive organs, the prostate is a little gland found below the bladder. Glycoproteins produced by prostatic epithelial cells are known as prostate-specific antigens. Either PSA is affixed to other cells or it is allowed to circulate freely around the body. Low PSA levels are typical for men. The presence of either prostate cancer or non - malignant diseases may be indicated by a high PSA level. Antibiotics can be used to treat benign prostatic hyperplasia or infection, which are non-cancerous diseases of the prostate. A human blood sample is drawn for the PSA test, which is then sent to a facility for evaluation. In milliliters (ng/mL) of blood, the results are expressed as nanograms of prostate-specific antigen.

The expansion of the prostate specific antigen (PSA) factors driving the growth will be accelerated in the next few years due to the increased incidence of prostate cancer among men over the age of 50. The development of numerous assay-based procedures and numerous technologies for the detection of prostate cancer have also pushed the need for PSA testing. The Prostate Specific Antigen (PSA) Testing Industry has grown in popularity thanks to the precision and specificity of the results made possible by this upgraded technology.

COVID-19 IMPACT

"Non-COVID Ailments Took a Back Seat during the Initial Outbreak of the Pandemic"

Non-COVID ailments including cancer have been impacted by the COVID-19 pandemic. During the initial COVID-19 wave, there were fewer diagnoses of prostate cancer. In the second quarter of 2020, this trend was largely revived. The amount was still less than was anticipated, though. Impact of the COVID-19 Outbreak on Prostate Cancer Care in the Netherlands in a report that was published in April 2022. It states that the initial COVID-19 wave resulted in a 17 percent decline in prostate cancer diagnoses. Diagnoses started to rebound to about 95% of what was anticipated by the 2020 end starting in May. As a result of the supply chain disruptions that were noticed, market participants faced several difficulties. The top goals of national healthcare organizations and international healthcare systems globally, however, have been cancer treatment and upholding high standards for diagnosis and treatment.

LATEST TRENDS

"Scheme Established to Support Young Tech-Savvy Businesses Developing AI Solutions for the Medical Industry"

Market participants are making decisions that are fostering the market's expansion. A Cambridge firm called Lucida Medical, for instance, revealed in June 2021 that it had entered the Edison Accelerator, a scheme established by GE Healthcare and Wayra UK to support young, tech-savvy businesses developing AI solutions for the medical industry. The Edison Accelerator programme participation of Lucida Medical is an important advance toward the company's objective of interrupting the cancer early diagnosis pathway with advanced technologies that more precisely identifies prostate cancer by analyzing MRI, saving time for radiologists and ensuring that patients receive the best diagnosis and treatment.

PSA TEST MARKET SEGMENTATION

By Type Analysis

According to type, the market can be segmented into ELISA, CLIA and Others

By Application Analysis

Based on application, the market can be divided into Post-treatment Monitoring

Screening and other

DRIVING FACTORS

"Growing Elderly Population and Increasing Awareness Aid in Promoting the PSA Industry"

The market for PSA test is expanding, which can be attributed to the growing elderly population. The advancement of the prostate specific antigen market is being influenced by a number of factors, including growing public awareness of the benefits of prostate cancer screening, technological developments in diagnosing and treating the disease, a variety of remission strategies for prostate cancer growth, and the accessibility of medications in both developed and developing nations. According to data from the US Census Bureau's 2017 National Population Projections. All baby boomers are expected to be at least 60 years old by 2030. This is a reflection of the aging population's growing size.

"Artificial Intelligence Technologies are Being Explored to Support the Testing Market Expansion"

During the forecast period, diagnostic test technological developments are anticipated to further support the PSA test market growth. The National Cancer Institute reports that scientists are presently evaluating the application of artificial intelligence (AI) to identify prostate cancer. Magnetic Resonance Imaging (MRI) scans reveal suspicious regions that must be biopsied to confirm the presence of cancerous cells. These problematic areas can be identified using AI technologies. In order to enhance biopsy sample analysis and simplify the production of more effective and accurate results, artificial intelligence technologies are also being explored.

RESTRAINING FACTORS

"Several Issues Associated with the Utilization of this Tests Could Possibly Hinder Market Broadening"

The results of the PSA test might occasionally be falsely positive or negative. Furthermore, several of these PSA screening tests revealed a variety of adverse effects, including problems with bowel function, persistent pain and erroneous results, erectile dysfunction, and problems with urine flow. These challenging circumstances are to blame for impeding the expansion of the market for prostate specific antigen (PSA) testing. Additionally, the expansion of the Prostate Specific Antigen Testing Sector is being constrained by advances in technology that allow tests like the Prostate Health Index (phi) to produce accurate and straightforward results.

PSA TEST MARKET REGIONAL INSIGHTS

• 

   Request a Free Sample To Get Analysis on Major Geographic Market

"Rising Prevalence of the Disease and Increased R&D in the Region Promotes North America to Lead the Market"

Due to factors such the rising prevalence of prostate cancer, rising awareness, and increased research and advancement in this region, North America is expected to account for a sizable portion of the international PSA test market share. However, the COVID-19 pandemic's present effects on cancer care in the United States have caused reductions in detection rates and delays in the provision of care. According to the research paper "Impact of COVID-19 on Cancer Care: How the Pandemic is Delaying Cancer Diagnosis and Treatment for American Seniors" released in October 2021, there were notable drops in prostate mammograms in 2020 compared to 2019, with the largest significant drop happening in April for prostate (56%) screenings. Therefore, it is anticipated that the boost in the incidence of prostate cancer in the region will positively impact market growth.

Increased awareness-raising efforts are anticipated to drive market expansion in Europe. A programme called European Prostate Cancer Awareness was launched in 2019 by the European Association of Urology to increase public awareness of early detection. Over diagnosis, overtreatment, and the negative effects of late discovery were some of the subjects highlighted in the awareness programme. The rising frequency in Europe is also projected to fuel demand. Over 2 million men in Europe received prostate cancer diagnoses in 2018, and as a result, there were over 92,000 deaths annually, based on the European Association of Urology. Because of the disease's increased prevalence, the annual costs of 10.6 billion USD are symptomatic of this.

KEY INDUSTRY PLAYERS

"Introduction of State of the Art Technology by the Players will aid Them to see Profitable Growth Prospects"

Due to increased awareness and growing adoption for PSA tests, market participants are predicted to see profitable growth prospects. Another important factor is the state of the art technologies. For instance, on December 29, 2019, Anixa Biosciences, Inc. officially introduced the Cchek Prostate Cancer Confirmation test (Cchek PCC), a test that uses artificial intelligence (AI), liquid-biopsy methodology, and stream cytometry to diagnose prostate cancer.

List of Top Psa Test Companies

• Tosoh (Japan)
• Siemens Healthcare (Germany)
• Abbott (U.S.)
• PerkinElmer (U.S.)
• DiaSorin (U.S.)
• Ortho Clinical (U.S.)
• Beckman Coulter (U.S.)
• Mediwatch (U.K.)
• BodiTech (South Korea)
• Roche (Switzerland)
• Fujirebio (Japan)

REPORT COVERAGE

This report covers the PSA test market. The CAGR expected to be in during the forecast period, and also the USD value in 2021 and what it is expected to be in 2031. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.