Prostate-Specific Antigen Testing Market Is Expected To Propel By Rising Incidence Prostate Cancer Among Men
Global Prostate-specific Antigen (PSA) Testing Market: Overview
Prostate-specific antigen (PSA) is a type of protein exclusively secreted by epithelial prostatic cells and is a valuable tumor marker for prostate cancer. Though not a prostate-specific molecule, its elevated presence in blood serum is used to detect prostate cancer among men. Increased levels of PSA are associated with prostatitis, an inflammation of the prostate gland, or is indicative of benign form of prostatic hyperplasia. The PSA testing, in conjunction with a digital rectal exam (DRE), is used to test asymptomatic men for prostate cancer. The PSA screening has gained popularity amongst clinicians and healthcare providers to detect possible cases of prostate cancer and help them determine the nature of the problem.
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The symptoms of prostate cancer may differ in each men and the PSA level in most healthy men lies below 4 ng/mL, and any value above this has been conventionally accepted as a predictive value for prostate cancer. However, a general consensus lacks on the normal PSA levels among clinicians. Increasing accuracy and specificity of diagnostic tools and markers is a key factor boosting the uptake of the PSA testing.
The report offers a comprehensive insight into the current market status, key drivers and restraints, regulatory landscape, advanced in diagnostic assays, adoption trends among major end users, and competitive landscape. The research study conducted with the help of valuable inputs from a wide spectrum of sources that include global healthcare providers, clinicians, industry experts, regulatory agencies. The analysis takes a closer look at the role of PSA testing in the general decline in the incidence of prostate cancer among demographics, which help the participants to understand the potential of the market.
Global Prostate-specific Antigen (PSA) Testing Market: Trends and Opportunities
The global prostate-specific antigen testing market is primarily propelled by the rising incidence prostate cancer among men, especially in older population with an age over 50 years. In addition, the PSA levels are required to be monitored periodically after the treatment of prostate cancer.
Furthermore, the adoption of serum-based biomarker for the diagnosis of prostate cancer has stimulated the demand for PSA testing. Used in combination with an array of advanced cancer-specific marker, PSA testing has enhanced the accuracy and specificity of the results, boosting the market.
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However, overdiagnosis of clinically insignificant prostate cancer, coupled with overstatement of the results, is a major deterrent in the adoption of the prostate-specific antigen testing. Several reimbursement policies in various developed and developing regions cover annual PSA testing among men with age 50 or more. Moreover, PSA testing being included as a part of the annual wellness coverage in developed nations such as the U.S. is expected to create promising opportunities for market players.
Global Prostate-specific Antigen (PSA) Testing Market: Regional Outlook
North America is a prominent market for PSA testing. The substantial demand for PSA screening is driven by the increasing incidence of prostate cancer and the consequent high mortality rate in various developed nations of the region. According to the American Society of Clinical Oncology (ASCO), prostate cancer is the second most prominent cause of death among men suffering from various cancer types in the U.S. In addition, advancement in healthcare and increased focus of governments in detection of prostate cancer are anticipated to fuel the regional market.
The Asia Pacific market is anticipated to register an impressive CAGR over the forecast period. The regional growth is attributed to the growing awareness of prostate cancer and the preference of PSA testing as a first-line test for a repeat screening.
Global Prostate-specific Antigen (PSA) Testing Market: Competitive Landscape
In order to stay ahead of the curve, prominent players are launching advanced prostate cancer diagnostic tools and new generation of markers that increases the detection accuracy. Major companies operating in the PSA testing market include Abbott Laboratories, Inc., Boston Scientific Corporation, Bayer AG, Bristol-Myers Squibb Company, Beckman Coulter, Inc., GE Healthcare, Endocare, Inc., Merck & Co., Inc., Medtronic, Inc., and Sanofi-Aventis SA.
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