Prostate Cancer Diagnostics Market To Offer Increased Growth Prospects For Manufacturers : Fact.MR

A recent report by Fact.MR states that the global prostate cancer market is expected to surpass US$ 8 Bn by 2031, expanding at an impressive CAGR of more than 10% for the projected forecast period.

Between 2016 to 2020, the market for prostate cancer diagnostics was valued at US$ 3 Bn. The increase in the number of patients suffering from prostate cancer especially in North America is boosting the demand for prostate cancer diagnostics.

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Although the COVID-19 induced lockdown slowed down the growth of the prostate cancer diagnostics market, the risk of being affected by the virus, especially for patients suffering from prostate cancer is expected to positively impact the prostate cancer diagnostics industry. Advancements in technology along with the integration of artificial intelligence will propel the demand for prostate cancer diagnostics.

Some of the key players profiled in the study are:

• Abbott Laboratories
• Biocept Inc.
• AstraZeneca Plc.
• Vyant Bio Inc.
• Danaher Corporation
• Bayer Aktiengesellschaft
• Becton Dickinson and Company
• Agilent Technologies
• Foundation Medicine Inc.
• Myriad Genetics Inc.

The Global Prostate Cancer Diagnostics market research report displays the market size, share, status, production, cost analysis, and market value with the forecast period 2021-2031. Besides, upstream raw materials, downstream demand analysis, consumption volume, and the market share by segments and sub-segments have also been mentioned. It provides a refined view of the classifications, applications, segmentations, specifications and many more for Prostate Cancer Diagnostics market. Regulatory scenarios that affect the various decisions in the Prostate Cancer Diagnostics market are given a keen observation and have been explained.

Market Segmentation:

Segmentation by test type:

• PSA Prostate Cancer Diagnostic Tests
• PCA3 Prostate Cancer Diagnostic Test
• CTC  Prostate Cancer Diagnostic Tests
• Immunohistochemistry Prostate Cancer Diagnostic Test

Segmentation by End User:

• Prostate Cancer Diagnostics in Hospitals
• Prostate Cancer Diagnostics in Independent Diagnostic Laboratories
• Prostate Cancer Diagnostics in Cancer Research Institutes
• Prostate Cancer Diagnostics in Other Settings

Description:

An honest projection of the Prostate Cancer Diagnostics market landscape has been detailed in the following report. The market report also provides the client with a fresh perspective on the Prostate Cancer Diagnostics market scope and can assist the client to make informed decisions regarding the growth and business opportunities for the selected market. The Prostate Cancer Diagnostics report profiles various market players that have been prominent and help the client to understand them with the help of data regarding their sales, revenue, strategies, and other aspects.

The market details a good analysis of the history of the Prostate Cancer Diagnostics market and provides a detailed forecast for the forthcoming years to ensure a long-term strategy implementation for the clients. All the growth patterns, trends, and future trends have been discussed in the Prostate Cancer Diagnostics market report to make it a one-stop solution for the client.

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Key Takeaway from the Market Study

• By test type, PSA tests likely to surpass US$ 270 Mn in value by 2021-end
• Demand for PCA-3 tests to soar, expected to exceed a valuation of US$ 284 Mn by 2031
• CTC tests acquiring popularity, poised to surpass US$ 141 Mn by 2021-end
• Diagnostic tests across hospitals and research institutes to collectively expand at 15% CAGR
• U.S to emerge as an opportunistic market, registering a CAGR of around 9%
• China to generate 40% demand for prostate cancer diagnostics across East Asia

Competitive Landscape

Major players in the prostate cancer diagnostics market are focusing on integrating the latest technological advancements such as artificial intelligence for studying the tissue and determining the accuracy of the same.

• For instance, Siemens Healthcare GmbH is focusing on developing scanners for detecting cancer carrying tissues. The end users demand for scanners that would study tissues at an early stage has increased. Thus, the company’s Vision Quadra Extended Axial scanner is extremely sensitive and can be used for clinical purposes.
• Likewise, Becton Dickinson and Company (BD) offers an entire portfolio dedicated to prostate health. Under this umbrella, the company offers brachytherapy, prostate biopsy and radiofrequency ablation techniques respectively.
• In July 2021, AstraZeneca Plc. acquired Alexion Pharmaceuticals Inc. This venture marks an entry of the former into the rare disease sector, including cancer diagnostics and treatment. Both companies will collaborate on developing medicines to manage rare diseases, including prostate cancer.

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Key Points Covered in Prostate Cancer Diagnostics Market

• Market estimates and forecast 2016-2030
• Key drivers and restraints impacting market growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Brand share and Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on Prostate Cancer Diagnostics Market and How to Navigate
• Recommendation on Key Winning Strategies

Read Our Latest Article on Healthcare Domain: https://www.factmr.com/article/124/latest-trends-in-the-healthcare-industry-how-has-it-transformed-businesses

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