PUBLISHER: The Business Research Company | PRODUCT CODE: 1670872
PUBLISHER: The Business Research Company | PRODUCT CODE: 1670872
The prostate-specific antigen (PSA) test is a blood test designed to measure the presence of prostate-specific antigen in the body. Its primary purpose is to screen for and monitor prostate cancer in men by assessing the levels of prostate-specific antigen in the bloodstream.
The main types of PSA tests include clinical laboratory improvement amendments (CLIA), enzyme-linked immunosorbent assay (ELISA), fluorescence immunoassay (FIA), and others. Clinical laboratory improvement amendments (CLIA) comprise a set of regulations governing laboratory testing, requiring clinical laboratories to obtain certification from the Centers for Medicare & Medicaid Services (CMS) before conducting diagnostic testing on human samples. These tests find applications in various areas, including screening and post-treatment monitoring, and are utilized by diverse end-users such as hospitals, diagnostic centers, research institutes, and others.
The prostate-specific antigen (PSA) test market research report is one of a series of new reports from The Business Research Company that provides prostate-specific antigen (PSA) test market statistics, including prostate-specific antigen (PSA) test industry global market size, regional shares, competitors with a prostate-specific antigen (PSA) test market share, detailed prostate-specific antigen (PSA) test market segments, market trends and opportunities, and any further data you may need to thrive in the prostate-specific antigen (PSA) test industry. This prostate-specific antigen (PSA) test market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The prostate specific antigen (PSA) test market size has grown rapidly in recent years. It will grow from $4.15 billion in 2024 to $4.66 billion in 2025 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to increased awareness, aging population, medical advancements, clinical recommendations, pharmaceutical advancements
The prostate specific antigen (PSA) test market size is expected to see rapid growth in the next few years. It will grow to $7.29 billion in 2029 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to advancements in test accuracy, personalized medicine approach, personalized medicine approach, global aging population. Major trends in the forecast period include shift towards biomarker combinations, technological innovations, point-of-care testing, digital health integration, focus on early detection and prevention.
The projected expansion of the prostate-specific antigen (PSA) test market is fueled by the increasing incidence of prostate cancer. Prostate cancer, affecting the prostate gland in the male reproductive system, is a condition that warrants early detection and risk assessment. The PSA test serves as a prevalent screening tool for prostate cancer, measuring PSA levels in the bloodstream. Recent reports from the American Society of Clinical Oncology (ASCO) in March 2023 revealed that in the United States alone, an estimated 288,300 men were diagnosed with prostate cancer, with approximately 34,700 succumbing to the disease in 2023. Globally, it is anticipated that around 1,414,259 individuals will be diagnosed with prostate cancer in 2020. Consequently, the escalating prevalence of prostate cancer is a driving force behind the growth of the PSA test market.
The upswing in chronic diseases contributes to the burgeoning demand for PSA tests. Chronic diseases, characterized by prolonged medical conditions necessitating ongoing attention and management, include prostate cancer as one such condition. The PSA test emerges as a pivotal tool for screening, diagnosis, and monitoring the progression of prostate cancer. Predictions from the National Library of Medicine in 2022 anticipate a 99.5% rise in the number of individuals aged 50 and older with at least one chronic illness, reaching 142.66 million by 2050. Furthermore, the prevalence of multimorbidity is projected to increase by 91.16%, encompassing 14.968 million people in 2050. Hence, the upsurge in chronic diseases is poised to propel the PSA test market.
A prominent trend in the PSA test market is the integration of technological advancements. Key players in the market are actively developing advanced screening tools to maintain their competitive edge. LynxDx Inc., a US-based diagnostic company, exemplifies this trend with the launch of MyProstateScore 2.0 in February 2023. This non-invasive urine prostate cancer screening test employs 18 biomarkers, including the innovative gene fusion T2,ERG, for personalized risk assessment. MyProstateScore 2.0 not only delivers highly accurate, stratified risk assessment insights but also guides clinical decisions for patients exhibiting elevated PSA or abnormal digital rectal exam (DRE) findings.
Major companies in the PSA test market are focusing on product development and launches, such as home testing kits for PSA. Home testing kits, facilitating self-administered diagnostic procedures, offer convenience and accessibility. In September 2023, Randox, an Ireland-based health and toxicology company, unveiled an at-home testing kit for PSA. This kit enables individuals to measure PSA levels in their blood, providing indications of abnormalities within the prostate. Elevated PSA levels may signal various conditions, including an enlarged prostate, prostatitis, urinary tract infection, or the potential presence of prostate cancer.
In June 2024, AstraZeneca PLC, a biopharmaceutical company based in the UK, acquired Fusion Pharmaceuticals Inc. for an undisclosed sum. This acquisition is intended to enhance AstraZeneca PLC's advanced radioconjugate technology for more precise cancer treatments. Fusion Pharmaceuticals Inc. is a clinical-stage oncology company located in Canada that offers prostate-specific antigen (PSA) tests.
Major companies operating in the prostate specific antigen (PSA) test market include Siemens AG, F. Hoffmann-La Roche AG, Bayer AG, Abbott Laboratories, Becton Dickinson and Company, PerkinElmer Inc., Beckman Coulter Inc., Bio-Rad Laboratories Inc., Ortho-Clinical Diagnostics Inc., DiaSorin SpA, OPKO Health Inc., R&D Systems Inc., Meso Scale Diagnostics LLC, Tosoh America Inc., Fujirebio Europe N.V., Boditech Med Inc., DRG International Inc., BioVision Inc., Enzo Life Sciences Inc., RayBiotech Inc., Novus Biologicals LLC, Creative Diagnostics Inc., Elabscience, LifeSpan BioSciences Inc., American Laboratory Products Company Ltd., Accuquik Inc.
North America was the largest region in the prostate specific antigen (PSA) test market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the prostate specific antigen (psa) test market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the prostate specific antigen (psa) test market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The prostate-specific antigen (PSA) test market includes revenues earned by entities by providing services such as prostate cancer detection, monitoring, PSA screening, prostatitis evaluation, complex PSA tests, and blood tests. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Prostate Specific Antigen (PSA) Test Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on prostate specific antigen (psa) test market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for prostate specific antigen (psa) test ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The prostate specific antigen (psa) test market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.