North America Prostate Cancer Diagnostics Market – Industry Trends and Forecast to 2028

Market Analysis and Insights: North America Prostate Cancer Diagnostics Market

The 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 12.9% in the forecast period of 2021 to 2028 and is expected to reach USD 3,631.44 million by 2028. Increasing focus on the disease burden and increasing awareness regarding the disease are the major drivers which are propelling the prostate cancer diagnostics market in the forecast period.

The prostate cancer begins when the cells in the prostate gland started to grow at an abnormal pace and the condition is known to be prostate cancer. The prostate is a gland found only in males. It makes some of the fluid that is part of semen. The prostate cancer diagnostics is a technique of detection of cancer mainly in the early stage to conduct the future treatment approach which can increase the survival rate.

The development of prostate cancer is closely linked with the age, with the increasing geriatric population, there is the significant increase in the incidence for prostate cancer. This will increase the demand for the diagnostics product for the detection of the disease and is expected to act as a driver for the prostate cancer diagnostics market. The PSA testing is one of the primary tests that are used for prostate cancer detection. However, the contradictions between the government and medical services provider for using PSA and related test is expected to restraint the prostate cancer diagnostics market. The market have a huge potential to grow and with the entry of new market players trying to enter market using business expansion via distribution agreements and have invested towards the prostate cancer diagnosis is expected to increase the market size and will act as opportunity for the prostate cancer diagnostics market. The barrier related with conducting the cancer diagnostics test may affect the life of the population and this is one of the most difficult parts to overcome with respect to the low income countries, thus this is affecting the diagnostics community and acting as a challenge for the prostate cancer diagnostics market.  

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.

North America 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. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

• 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.
• 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.
• 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.
• 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.
• 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 users, 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 the segment is specialized in conducting various prostate cancer diagnostics.
• On the basis of distribution channel, 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.

Prostate Cancer Diagnostics Market Country Level Analysis

The prostate cancer diagnostics market is analysed and market size information is provided by the country, product type, diagnostics type, age group, type, stage, sample type, end users and distribution channel as referenced above.

The countries covered in the North America prostate cancer diagnostics market report are the U.S., Canada and Mexico.

The North America region holds the majority of the share in the prostate cancer diagnostics market and is expected to witness the CAGR during the forecast period due to increasing number of diagnosis tests in the region. The U.S. is expected to dominate in the North America prostate cancer diagnostics market due to the increasing awareness regarding the disease.  

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 Manufacturers is Creating New Opportunities for Players in the Prostate Cancer Diagnostics Market 

The 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

The 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 North America prostate cancer diagnostics market report are F. Hoffmann-La Roche Ltd, ACON Laboratories, Inc.,  Teco Diagnostics, Hologic Inc., Accuquik Test Kits, MDxHealthcare, Abbott, Siemens Healthcare GmbH, OPKO Health Inc., Myraid Genetics, Inc., DiaSorin S.p.A, Beckman Coulter, Inc. (a subsidiary of Danaher), Genomic Health, Inc. (a subsidiary of Exact Sciences Corporation), bioMérieux SA, Metamark Genetics, Inc.,  Fujirebio, and Eurolyser Diagnostica GmbH among others among other domestic and global players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

Many product launches and agreements are also initiated by the companies’ worldwide which are also accelerating the prostate cancer diagnostics market.

For instance,  

• In January 2021, Hologic Inc. announced that they have agreed to acquire Biotheranostics, Inc. for USD 230.00 million. This company is the provider of a molecular diagnostic test for metastatic and breast cancer. After the complete acquisition, Hologic Inc. will take a jump start in global oncology detection for cancer patients and will add up to the company’s revenue.

Collaboration, joint ventures and other strategies by the market players 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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