New York, NY -- (SBWire) -- 05/05/2021 --Prostate Cancer Diagnostics Market Size – USD 2,801.7 Million in 2019, Industry Growth - CAGR of 12.3%, Industry Trends – Increasing awareness about cancer diagnosis at an early stage.
The global prostate cancer diagnostics market is forecasted to reach USD 7,112.2 Million by 2027, according to a new report by Reports and Data. The prostate cancer diagnostics market is observing demand attributed to the rising incidence of prostate cancer. It is the most common cause of death occurring as a result of cancer in American men. It has been found that nearly 1 out of 41 men die of prostate cancer. According to recent estimations, around 33,330 men will die of the disease in the year 2020.
Increasing awareness about cancer diagnosis at an early stage is a significant factor driving the market growth. A majority of prostate cancers or about 90.0% cases are detected when the disease is in the prostate gland and the nearby organs, and for such cases, the 5-year survival rate is about 100.0%, whereas the 5-year survival rate for the cases in which the disease has spread to other body parts is 31.0%.
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The Key Companies Profiled in the Market are:
Abbott Laboratories, Siemens Healthineers, F. Hoffman La Roche Ltd., Danaher Corporation, Agilent Technologies, Myriad Genetics Inc., Becton, Dickinson, and Company, Diasorin SPA, Genomic Health, and Beckman Coulter Inc., among others.
The COVID-19 impact:
The COVID-19 pandemic has made it essential to repurpose the operating rooms for surgeries into intensive care units (ICUs) and pushed hospitals to accommodate patients beyond their full capacity of beds. As a result, in several cases, cancer patients' diagnostics and treatment were categorized as non-urgent. Further, the psychological influence of postponed diagnosis as a result of the COVID-19 pandemic cannot be undermined as when psychological, physical, and social health of patients are handled in a positive way, chances of patients' survival have been seen to improve from a state of illness towards recovering from the disease. COVID-19 has had a significant and negative impact on cancer treatment and research, making a new health emergency for cancer patients' management a necessity.
Further key findings from the report suggest
Adenocarcinomas develop in the cells of the gland, which line the prostate gland and are the most commonly occurring prostate cancer, with about everyone suffering from the disease has this type.
PCA3 is a biomarker beneficial in improving the precision of prostate cancer diagnostics. The biomarker is preferred, due to its fairly high sensitivity and specificity during the diagnostic procedures.
Hospitals & clinics dominated the market in 2019. The factors including well-resourced operating & diagnostic rooms, higher purchasing power, the existence of highly skilled healthcare professionals, and improved health coverage for hospital-based healthcare services from several private and group insurance plans, among others, are responsible for the high market share of hospitals.
North America contributed to the largest market share in 2019. The market dominance is owing to the higher acceptance of advanced technologies, well-established healthcare diagnostic facilities, the surging incidence of prostate cancer, and the enactment of numerous initiatives for raising awareness about the disease in the region.
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For the purpose of this report, Reports and Data has segmented into the global prostate cancer diagnostics on the basis of prostate cancer type, test type, end-user, and region:
Prostate Cancer Type Outlook (Revenue, USD Billion; 2017-2027)
Acinar Adenocarcinoma
Ductal Adenocarcinoma
Transitional Cell (or Urothelial) Cancer
Squamous Cell Cancer
Small Cell Prostate Cancer
Others
Test Type Outlook (Revenue, USD Billion; 2017-2027)
Preliminary Tests
Confirmatory Tests
PCA3
Transrectal Ultrasound
Biopsy
End-User Outlook (Revenue, USD Billion; 2017-2027)
Hospitals & Clinics
Diagnostic Centers
Research Institutes
Others
Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
U.S
Canada
Europe
Germany
UK
France
BENELUX
Rest of Europe
Asia Pacific
China
Japan
South Korea
Rest of APAC
MEA
Saudi Arabia
UAE
Rest of MEA
Latin America
Brazil
Rest of LATAM
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Prostate Cancer Diagnostics Market Segmentation & Impact Analysis
4.1. Prostate Cancer Diagnostics Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Rising occurrences of cancer
4.2.2.2. Growing geriatric population
4.2.2.3. Increased investments in the field of cancer diagnostics
4.2.2.4. Growing awareness for early detection of cancer
4.2.3. Market restraints analysis
4.2.3.1. Cost prohibitive prostate cancer diagnostics
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
Continued…..
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Prostate Cancer Diagnostics Market Size, Share, Growth, Sales Revenue and Key Drivers Analysis Research Report by 2027
The rising incidence of prostate cancer is one of the significant factors influencing the growth of the diagnostic procedures for the disease.