Prostate Specific Antigen (PSA) Testing Market Projected to be Worth USD 5.83 Billion by 2028
The Prostate-Specific Antigen (PSA) Testing Market is projected to grow from USD 3.12 Billion in 2021 to USD 5.83 Billion by 2028, at Compound Annual Growth Rate (CAGR) of 11.2% during 2022-2028. Prostate-specific antigen (PSA) is a form of glycoprotein produced by epithelial prostatic cells. High PSA levels indicate a higher risk of developing prostate cancer. PSA levels are measured by various tests.
The Global Market for Prostate Specific Antigen (PSA) Testing is developing mainly due to the increase in prostate cancer in men, over the age of 50. In addition, the adoption of a variety of diagnostic methods and the introduction of various new prostate cancer diagnostics have increased the need for Prostate Specific Antigen (PSA) Testing. The combination of advanced Prostate Specific Antigen (PSA) Testing technology has improved the accuracy and clarity of results that play an important role in market growth. The Prostate Specific Antigen (PSA) Testing Market is advancing due to an increase in the number of older people. Also, increased public awareness of the benefits of prostate cancer screening, technological advances in prostate cancer screening and treatment, multiple rehabilitation policies for prostate cancer treatments in developed and developing nations affects the growth of Prostate Specific Antigen (PSA) Testing Market.
The Prostate Specific Antigen (PSA) Testing Market needs to deal with some difficult situations due to the incorrect results of the PSA examination. Many of these tests, such as PSA screening, have had many side effects such as difficulty urinating, bowel movements, erectile dysfunction and general pain, and false positives, thus hindering the growth of the Prostate Specific Antigen (PSA) Testing Market. Advanced technological advances that lead to more simplified and more accurate results in tests such as the Prostate Health Index can reduce growth in the Prostate Specific Antigen (PSA) Testing Market unless there is a change in the way the test is administered.
The Prostate Specific Antigen (PSA) Testing Market is divided into various categories by type of tests. These are free prostate-specific antigen test (PSA), complex prostate-specific antigen testing(CPSA), total prostate-specific antigen test (PSA), prostate-specific antigen reverse transcription-polymerase chain reaction (PSA RT-PCR), and others. Based on the applications, it can be divided into testing, post-treatment monitoring, among other applications. While on the basis of assays type, the market consists of radioimmunoassay (RIA), enzyme immunoassay (EIA).
On the basis of regional analysis, the global Prostate Specific Antigen (PSA) Testing Market is categorized in North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. North America is a leading market for Prostate Specific Antigen (PSA) Testing. The great need for PSA testing is driven by an increase in the incidence of prostate cancer and a high mortality rate in various developed countries in the region. Regional growth is due to increased awareness of prostate cancer and preference for PSA testing as the first of repeated tests.
To stay ahead of the curve, outstanding players of Prostate Specific Antigen (PSA) Testing Market are introducing advanced bladder cancer diagnostic tools and a new generation of markers that increase diagnostic accuracy.
Large companies operating in the Global Prostate Specific Antigen (PSA) Testing Market are MDx Health (US), Myriad Genetics Inc (US)., Abbott Laboratories (US), F. Hoffman-La Roche AG (Switzerland), Siemens Healthineers AG (Germany), OPKO Health Inc. (US), and Genomic Health (US)..