Prostate Cancer Diagnostics Market To Witness A Significant Growth Of USD 72,677.3 Million By 2030

 San Francisco, 5 Feb 2024: The Report Prostate Cancer Diagnostics Market Size, Share & Trends Analysis Report By Test Type (Preliminary Tests, Confirmatory Tests), By Type (Adenocarcinoma, Interstitial Cell Carcinoma, Other), By End Use, By Region, And Segment Forecasts, 2024 - 2030

The global prostate cancer diagnostics market size is expected to reach USD 13.16 billion by 2030, expanding at a CAGR of 6.4% from 2024 to 2030,according to a new report by Grand View Research, Inc. Supportive government initiatives, increasing disease prevalence across the globe, and a rise in the prevalence of prostate cancer coupled with technological advancements in confirmatory diagnostic tests are the major drivers for this market.

A rise in favorable government initiatives to enhance research associated with a focus on effective diagnosis and treatment is expected to boost market growth during the forecast period. For instance, the National Cancer Institute initiated the study titled ‘Research on Prostate Cancer in Men of African Ancestry: Defining the Roles of Genetics, Tumor Markers, and Social Stress’ (RESPOND). This study is the largest collaboration to research the non-biological and biological factors that are associated with prostate cancer in African-American men. It was launched by the National Institute on Minority Health and NCI and Health Disparities in collaboration with the Prostate Cancer Foundation with a funding of USD 26.0 million.

Researchers from the University of Norfolk and East Anglia along with Norwich University Hospital developed a non-invasive urine test that helps in identifying men that are up to 8 times less likely to need a treatment procedure within 5 years of diagnosis. Technological advancements such as these are also anticipated to impact market potential in the near future.

Additionally, researchers at Karolinska and KTH Institute concluded that the use of artificial intelligence in spatial transcriptomics can aid in the early detection of prostate cancer, thereby, improving clinical diagnosis and treatment. Spatial transcriptomics is a method that usually combines quantitative analysis of active genes and their histology and can aid in effective disease diagnosis.

Access Research Report of Prostate Cancer Diagnostics Market @ https://www.grandviewresearch.com/industry-analysis/prostate-cancer-diagnostics-market

Prostate Cancer Diagnostics Market Report Highlights

• Confirmatory tests held the largest market share in 2023. The segment holds largest market share by 66.4%. Confirmatory tests include the PCA3 test, Transrectal Ultrasound (TRUS), and biopsy of the affected portion
• Based on end use, the market is segmented into hospitals, outpatient facilities, home care, and research & manufacturing. In 2023, the Outpatient Facilities segment dominated the market. Outpatient Facilities have revolutionized and developed more comfortable consulting and treatment systems with the acquisition and experience of the licensed physician
• The North American region holds the largest market share owing to rising prevalence and the rise in government initiatives to enhance diagnosis

Prostate Cancer Diagnostics Market Report Scope

Report Attribute	Details
Market size value in 2024	USD 9.05 billion
Revenue forecast in 2030	USD 13.16 billion
Growth rate	CAGR of 6.4% from 2024 to 2030
Base year for estimation	2023
Historical data	2018 – 2022
Forecast period	2024 - 2030

List of Key Players of Prostate Cancer Diagnostics Market

• MDx Health
• Myriad Genetics, Inc.
• Abbott Laboratories
• Hoffman-La Roche AG
• Bayer AG
• Siemens Healthcare GmbH
• OPKO Health, Inc.
• Genomic Health.
• Pfizer Inc.

Access Press Release of Prostate Cancer Diagnostics Market @ https://www.grandviewresearch.com/press-release/global-prostate-cancer-diagnostics-market