Europe Prostate Cancer Diagnostics Drug Market, By Product Type (Instruments, Reagents & Consumables and Accessories), Diagnostics Type (Preliminary Screening Tests, Confirmatory Tests), Age Group (Adult, Pediatric and Geriatrics), Type (Prostatic Adenocarcinoma, Small Cell Carcinoma and Others), Stage (Localized Prostate Cancer, Recurrent/Advanced Prostate Cancer and Castration-Resistant Prostate Cancer (Metastatic and Non-Metastatic), Sample Type (Blood, Tissue, Urine and Others), End Users (Independent Diagnostic Laboratories, Hospitals, Cancer Research Institutes, Clinics, Ambulatory Surgical Centers and Others), Distribution Channel (Direct Tender and Retail Sales), Country (Germany, France, U.K., Italy, Spain, Russia, Turkey, Netherlands, Switzerland, Belgium and Rest of Europe) Industry Trends and Forecast to 2028
Market Analysis and Insights: Europe Prostate Cancer Diagnostics Market
Prostate cancer diagnostics market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 12.5% in the forecast period of 2021 to 2028 and is expected to reach USD 1,604.78 million by 2028 from USD 636.30 million in 2020. Increasing focus on the disease burden and increasing awareness regarding the disease are the major drivers which are propelling the market in the forecast period.
Instruments, reagents & consumables and accessories are used for the diagnosis. The PSA testing, digital rectal exams, MRI, PET/CT scan among others are some preliminary and confirmatory tests used in the diagnosis of prostate cancer. The increasing prevalence of prostate cancer, increased research & development in prostate cancer diagnostics, increase in geriatric population, launch of new products for prostate cancer diagnostics are expected to drive the prostate cancer diagnostics market growth. Moreover, rising investment and funding by emerging players, reimbursement policy for prostate cancer diagnostics and government initiatives towards cancer diagnostics bolsters the prostate cancer diagnostics market growth.
The demand for prostate cancer diagnostics has increased in both developed as well as in developing countries and the reason behind this is the increasing focus on mortality of prostate cancer. The prostate cancer diagnostics market is growing due to introduction of innovative products, increasing awareness and various government initiatives. The market will grow in the forecasted period due to exploration of emerging markets, strategic initiatives by market players and increasing awareness regarding hair problems.
The prostate cancer diagnostics market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Europe Prostate Cancer Diagnostics Market Scope and Market Size
The prostate cancer diagnostics market is categorized into eight notable segments which are based on the product type, diagnostics type, age group, type, stage, sample type, end users and distribution channel.
- On the basis of product type, the prostate cancer diagnostics market is segmented into instruments, reagents & consumables and accessories. In 2021, reagents & consumables segment is dominating in the prostate cancer diagnostics market as it includes the PSA testing products which is the primary test recommended for preliminary testing. PSA measures protein made by cells in prostate gland which is the first line of diagnosis for prostate cancer.
- On the basis of diagnostics type, the prostate cancer diagnostics market is segmented into preliminary screening tests and confirmatory tests. In 2021, preliminary screening tests segment is dominating in the prostate cancer diagnostics market as the number of preliminary tests surpass the number of confirmatory tests by significant percentage.
- On the basis of age group, the prostate cancer diagnostics market is segmented into adult, pediatric and geriatrics. In 2021, geriatrics segment is dominating in the prostate cancer diagnostics market as around 60% of cases are diagnosed in men over 65 year of age. The average age of prostate cancer diagnostics is 66 years. The disease rarely occurs in those younger than 40. The number of new cases diagnosed in black men is 60% higher than to the number of new cases diagnosed in white men.
- On the basis of type, the prostate cancer diagnostics market is segmented into prostatic adenocarcinoma, small cell carcinoma and others. In 2021, prostatic adenocarcinoma segment dominates the prostate cancer diagnostics market because more than 95 percent of prostate cancers are adenocarcinomas which develop in the gland cells and line of the prostate gland. Nearly, all the men with prostate cancer have this type. It is the second leading cause of cancer-related death in men. Once the cancer reaches a certain stage, then the abnormal cells spread to other parts of the body, hence causing metastasis which leads to dominating the segment of the market.
- On the basis of stage, the prostate cancer diagnostics market is segmented into localized prostate cancer, recurrent/advanced prostate cancer and castration-resistant prostate cancer (metastatic and non-metastatic). In 2021, localized prostate cancer segment dominates the prostate cancer diagnostics market as approximately 80 percent to 85 percent of all prostate cancers are detected in the local or regional stages which represent stages I, II and III. Most of the men diagnosed and treated at the local or regional stages will be disease-free after five years. This type of cancer does not spread in any of the nearby tissues or to distant parts of the body. The stages present in localized prostate cancer are stage 1 and 2. The growth of tumor in low-risk localized prostate cancer is slow.
- On the basis of sample type, the prostate cancer diagnostics market is segmented into blood, tissue, urine and others. In 2021, blood segment is dominating the prostate cancer diagnostics market as blood is the primary sample for the most common preliminary test that is PSA test and due to easy availability of blood, less complex procedure of blood sample collection doesn’t take much time which is expected to dominate the prostate cancer diagnostics market.
- On the basis of end user, the prostate cancer diagnostics market is segmented into independent diagnostic laboratories, hospitals, cancer research institutes, clinics, ambulatory surgical centers and others. In 2021, Independent diagnostic laboratories segment is dominating the prostate cancer diagnostics market as this segment is specialized in conducting various prostate cancer diagnostics. Moreover, independent diagnostic laboratories enable the facilitation of robust, on-time, cost-effective and high quality diagnostic care and services in safe healthcare environment and are convenient for consulting physician/healthcare institution to outsource bulk diagnostics tests to independent diagnostic laboratories for better customer services.
- On the basis of distribution type, the prostate cancer diagnostics market is segmented into direct tender and retail sales. In 2021, direct tender segment dominates the prostate cancer diagnostics market as they are the primary source of procurement of reagents, consumables, devices and accessories by healthcare organizations and diagnostic labs. With the increasing cost of healthcare, healthcare service providers are focusing on better services for customers along with reducing the overall cost. The procurement of products through direct tender is highly cost effective for healthcare providers.
Prostate Cancer Diagnostics Market Country Level Analysis
The prostate cancer diagnostics market is categorized into eight notable segments which are based on the product type, diagnostics type, age group, type, stage, sample type, end users and distribution channel.
The countries covered in the prostate cancer diagnostics market report are Germany, France, U.K., Italy, Spain, Russia, Turkey, Netherlands, Switzerland, Belgium and Rest of Europe.
Europe is expected to grow with the highest CAGR in the forecasted period as in the growing prevalence of prostate cancer and favorable reimbursement landscape. Germany is expected to dominate in the Europe market primarily due to increasing geriatric population.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Strategic Initiatives by manufactures is Creating New Opportunities for Players in the Prostate Cancer Diagnostics Market
Prostate cancer diagnostics market also provides you with detailed market analysis for every country growth in prostate cancer diagnostics product sales, impact of advancement in the prostate cancer diagnostics and changes in regulatory scenarios with their support for the prostate cancer diagnostics market. The data is available for historic period 2011 to 2019.
Competitive Landscape and Prostate Cancer Diagnostics Market Share Analysis
Prostate cancer diagnostics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to prostate cancer diagnostics market.
The major companies providing prostate cancer diagnostics are F. Hoffmann-La Roche Ltd, Siemens Healthcare GmbH, OPKO Health Inc., Abott, Beckman Coulter, Inc. (A Subsidiary of Danaher), among others domestic and global players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launch and agreement are also initiated by the companies’ worldwide which are also accelerating the prostate cancer diagnostics market.
For instance,
- In December 2020, Fujirebio Europe announced they have been granted with a sum amount of USD 876 thousand from Flanders Innovation & Entrepreneurship (VLAIO) to develop a clinical in vitro diagnostics (IVD) platform incorporating third generation sequencing (TGS) technologies. This is for developing cost efficient, accurate and portable IVD. This will enhance the company profile and will increase the research and development of the company.
Collaboration, joint ventures and other strategies by the market player is enhancing the company market in the prostate cancer diagnostics market which also provides the benefit for organisation to improve their offering for prostate cancer diagnostics market.
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