GLOBAL PROSTATIC ADENOCARCINOMA CANCER DIAGNOSTICS MARKET (2024 - 2030)

The Global Prostatic Adenocarcinoma Cancer Diagnostics was valued at USD 2.55 billion and is projected to reach a market size of USD 7.22 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 13.9%. 

Industry Overview:

Prostate is the organ that is a part of the male reproductive system. Its preliminary task is producing fluid that builds semen. It is an integral part of the body. Whenever the prostate is infected with cancerous or carcinogenic cells it affects the urinary system, the reproductive system, and can end up being extremely fatal. Prostatic Adenocarcinoma Cancer is the most common and frequently observed type of prostate cancer compared to its counterpart Small Cell Carcinoma Cancer. The diagnostics market for the same ensures that the cancer present can be detected as soon as possible in its earliest stages so that it can be cured and, in some cases, even prevented from happening. Regular prostate check-ups play a significant role for the same.

COVID-19 impact on the Prostatic Adenocarcinoma Cancer Diagnostics Market:

The corona virus was responsible for causing the COVID-19 pandemic. The unforeseen situations that followed wreaked havoc on the entire world. The virus infected hundreds of thousands of people worldwide and took many lives. Every single day people on the various news sources reported the daily toll of cases and deaths which were extremely difficult to process. In times like these the hospitals were overfilled and the entire health industry suffered from an extremely high-pressure situation causing burnout in healthcare professionals across the globe. Due to this the Prostatic Adenocarcinoma Cancer Diagnostics market was severely affected. The hospitals weren’t able to recover enough to conduct non-essential tests and diagnostics for routine patients. People also hesitated in visiting the hospitals if not completely essential for the fear of contacting the virus as it was extremely contagious. Due to this the market suffered a major decline. But in the post-pandemic era the market has made recovery and continues to do so as the awareness for the prostate cancer in general, increases.

Market Drivers:

The increasing awareness among people regarding the discovery and diagnosing of prostate cancer in general is estimated to drive the market growth for Prostatic Adenocarcinoma Cancer Diagnostics:

Cancers of all kind were a very fright inducing topic and people avoided talking about it. It was considered a deadly disease no matter what and once a person was diagnosed, they were estimated to die. But the times have progressed a lot since and people have discovered cancer to be a curable disease granted that it is discovered in time. Prostate cancer was especially considered a taboo topic in more conservative communities. But the government initiatives like regular prostate check-ups, the declaration of the September as prostate cancer awareness month, and more have led to decrease in the fear surrounding it. Because of this more and more people are voluntarily getting routine check-ups which has helped boost the Prostatic Adenocarcinoma Cancer diagnostic market.

The increase in life expectancy leading to a larger number of vulnerable people is poised to help drive the market growth:

The Prostatic Adenocarcinoma Cancer and prostate cancer at large can happen to people of all ages ranging from young children to adults or even geriatric or very elderly people. But the maximum numbers of cases of the cancer are seen in patients that are above the age of 65. Over half of the total prostate cancers diagnosed every year are seen in geriatric patients due to whom they are at a higher risk. The advancements in medical technologies ranging from development of new drugs and diagnostic facilities to development of extraordinary later life care have helped to increase life expectancy. Due to this majority of people have started living past 65-70. But because this age range is the target for the Prostatic Adenocarcinoma Cancer, the increased life expectancy can help the market grow.

Market Restraints:

The Prostatic Adenocarcinoma Cancer Diagnostics Market's growth is being stifled by the high costs of the diagnostics as well as cases of false positives:

The diagnostic tests that are conducted to determine whether a patient is suffering from Prostatic Adenocarcinoma Cancer are very expensive. These tests are also more advanced than the regular everyday tests and therefore cannot be done at all laboratories. Because of this, it is not possible for underprivileged people or people living in remote areas to get tests or routine check-ups done. Also in a lot of cases the tests have been observed to show a false positive, i.e. it shows that the patient has cancer even when they don’t. These create a fear in people’s minds and they refrain from doing the tests at all. Therefore, these factors are restraining the market growth.

GLOBAL PROSTATIC ADENOCARCINOMA CANCER DIAGNOSTICS MARKET REPORT COVERAGE:

This research report on the global Prostatic Adenocarcinoma Cancer Diagnostics Market has been segmented based on test type, product type, age group, sample type, end user, and regions.

Prostatic Adenocarcinoma Cancer Diagnostics Market- By Test Type

• Preliminary

• Confirmatory

  • PCA3

  •  Trans-rectal Ultrasound

  •  Biopsy

The preliminary tests are conducted initially when the patients complain of symptoms. The major test is the PSA which detects extremely small and sometimes non-harmful cells or tumors. The preliminary thus holds the largest market share and is estimated to grow in the forecast period.

Prostatic Adenocarcinoma Cancer Diagnostics Market- By Age Group

• Adult

• Pediatric

• Geriatrics

Majority of the cases detected of the Prostatic Adenocarcinoma Cancer are found in patients over the age of 65 or Geriatric patients. Therefore, this sector holds the largest market share followed closely by adults and few cases in the pediatric sector.

Prostatic Adenocarcinoma Cancer Diagnostics Market- By Product Type

• Instruments

• Reagents & Consumables

• Accessories

As aforementioned, the preliminary tests hold the largest market share and are very significant. The PSA test or the Prostate Specific Antigen test is a major part of the same. This test is categorized under the reagents and consumables category, making it the largest category under product type. It holds the maximum market share and is estimated to flourish.

Prostatic Adenocarcinoma Cancer Diagnostics Market- By End User

• Independent Diagnostic Laboratories

• Hospitals

• Cancer Research Institutes

•  Clinics

• Ambulatory Surgical Centers

• Others

The independent diagnostic laboratories have held the largest market share in the past and are estimated to do so for the future as well. They are specialized in conducting the required tests and have the equipment which may not be the case for general clinics or hospitals.

Prostatic Adenocarcinoma Cancer Diagnostics Market- By Sample Type

• Blood

• Tissue

• Urine

• Others

Blood sample is the largest market share holder as it is the most common method of diagnosing. It is a part of the preliminary tests followed by urine. The tissue tests are not done as frequently and are an invasive process making them less popular.

Prostatic Adenocarcinoma Cancer Diagnostics Market- By Region

• North America

• Europe

• Asia-Pacific

• Rest of the World

North America has held the largest market share and is estimated to do so during the forecast period as well. The increasing health awareness initiatives and public awareness are a major reason for the same.

Europe is estimated to show a major growth in the diagnostics market because of several countries provisions of the free healthcare and an increase in awareness and decrease in overall fear regarding the Prostatic Adenocarcinoma Cancer.

Major Key Players in the Market

1. F. Hoffmann-La Roche Ltd

2.  ACON Laboratories, Inc.

3.  HUMASIS

4. Hologic Inc.

5. Accuquik Test Kits

6.  Norsk Aeriel Llc.

7. MDx Health

8.  Myriad Genetics, Inc

9. Siemens Healthineers AG

10.  OPKO Health, Inc

Market Insights and Developments

• In February 2023, a new blood test has been developed that boasts an accuracy of 94% in detecting the prostate cancer and its variants. It is referred to as the Prostate Screening EpiSwitch (PSE) and is more powerful than the currently popular PSA.

• In June 2022, Researchers developed work towards early detection of prostate and Prostatic Adenocarcinoma Cancer in men just by studying their gene patterns and their certain inherited genes.