China is projected to grow with a CAGR of 11.2% over the forecast duration. Xiamen Biotime Biotechnology Co., Ltd., HWTAi, OptiBio Co., Ltd, Jiangsu MicroDiag Biomedicine Technology Co., Ltd., Beijing Hotgen Biotech Co., Ltd, Humasis, Accuquik™ Test Kits, CTK Biotech, Inc. are the key players within the global market

NEWARK, Del, May 30, 2023 (GLOBE NEWSWIRE) -- As per Future Market Insights’ latest industry analysis, the valuation for the global prostate-specific antigen (PSA) testing market was around US$ 5.7 Billion in 2022 and is projected to exhibit a CAGR growth of close to 12.0% over the forecast period, with an estimated valuation of US$ 19.5 Billion by 2033.

Prostate-specific antigen (PSA) testing involves measuring PSA levels in the blood to identify the recurrence of prostate cancer post-radiotherapy or surgical treatment. Males have a small gland called the prostate that is located underneath the bladder. The prostate gland generates the protein known as PSA from both cancerous and non-cancerous cells.

The growth of the prostate-specific antigen market is influenced by technological advancements in prostate cancer testing and treatment, as well as a number of reimbursement policies for prostate cancer treatment in both developed and developing countries.

Drivers and Challenges have an Impact on Market Dynamics, which can Impact Businesses. Find more details in our Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-17301

New product introductions and technological developments provide opportunities for market growth.

• For instance, In September 2021, Boston Scientific Inc’s EPOCH clinical trial was successfully completed for TheraSphere treatment. The patients with metastatic colorectal cancer (mCRC) met the key results which included hepatic progression-free survival (hPFS) and progression-free survival (PFS).
  

Overall, these factors are contributing to the growth of the prostate-specific antigen (PSA) testing market, and are expected to continue to drive demand for effective and innovative options in the coming years.

Key Takeaways:

• Immunoassay is the leading segment as a test type among patients and professionals, and held about 56.8% market share in 2022, due to their high efficacy and specificity compared to POCT.
• By sample type, whole blood is leading in the global prostate-specific antigen (PSA) testing market and is expected to continue to do so with a projected CAGR rate of 12.4% during the forecasted years because whole blood is a convenient sample to withdraw.
• By end user, hospitals are leading in the global prostate-specific antigen (PSA) testing market and is expected to continue to do so with a projected CAGR rate of 10.8% during the forecasted years due to ease availability of testing kits in the hospitals.
• By region, Europe is leading in the global prostate-specific antigen (PSA) testing market and is expected to continue to do so with a projected CAGR rate of 11.8% during the forecasted years due to a rise in the aging population and the growing prevalence of prostate cancer in Europe.

“Rise in Prostrate Cancer among Aging Population and Growing Usage of Biomarkers in PSA Testing is creating Lucrative Potential for the Market to Grow,” - says an analyst at Future Market Insights (FMI).

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Market Competition:

Partnerships, acquisitions, and mergers are strategies used by significant participants in the prostate-specific antigen (PSA) testing market to expand their companies. Major players concentrate on strategies including boosting sales and using innovative technology for the creation of distinctive products.

• In February 2023, the University of East Anglia researchers created a revolutionary blood test that can diagnose prostate cancer more precisely than existing methods. According to the research, the blood test called Prostate Screening Episwitch (PSE)’s accuracy is 94% more than the current methods in use.

Key Players:

• Xiamen Biotime Biotechnology Co., Ltd.
• HWTAi,
• OptiBio Co., Ltd
• Jiangsu MicroDiag Biomedicine Technology Co., Ltd.
• Beijing Hotgen Biotechn Co., Ltd
• Humasis, Accuquik™ Test Kits
• CTK Biotech, Inc.
• INTEC
• XIAMEN BOSON BIOTECH CO., LTD
• AccuBioTech Co., Ltd.
• Bio-Rad Laboratories, Inc.
• Accuquik Test Kits
• OPKO Health, Inc.
• bioMérieux SA
• Beckman Coulter, Inc.

What Does the Report Cover?

Future Market Insights offers a unique perspective and actionable insights on the prostate-specific antigen (PSA) testing market in its latest study, presenting a historical demand assessment of 2018– 2022 and projections for 2023 – 2033. The global prostate-specific antigen (PSA) testing market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

The research study is based on PSA testing – by test type – [immunoassays (ELISA kits, lateral flow assays, chemiluminescent immunoassays (CLIAs), radioimmunoassay), point-of-care testing kits (cassettes/cards, strips)], by sample type – (whole blood, serum, plasma), by end-user – (hospitals, diagnostic laboratories, specialty clinics, research institutes, others) across seven regions of the world.

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Key Segments Covered:

By Test Type:

• Immunoassays
  • ELISA Kits
  • Lateral Flow Assays
  • Chemiluminescent Immunoassays (CLIA)
  • Radioimmunoassay
• Point-of-Care Testing Kits
  • Cassette/Cards
  • Strips

By Sample Type:

• Whole Blood
• Serum
• Plasma
  

By End User:

• Hospitals
• Diagnostics laboratories
• Specialty Clinics
• Research Institutes
• Others
  

Table of Content (ToC):

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand Side Trends

    1.3. Supply-Side Trends

    1.4. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

    2.3. Inclusions and Exclusions

3. Key Market Trends

    3.1. Key Trends Impacting the Market

    3.2. Development/Innovation Trends

4. Key Success Factors

    4.1. Product Adoption Analysis

    4.2. Regulatory Scenario

    4.3. Reimbursement Landscape

    4.4. PESTLE Analysis

    4.5. Porter’s Analysis

    4.6. Value Chain Analysis

5. Market Background

    5.1. Macro-Economic Factors

        5.1.1. Global GDP Growth Outlook

        5.1.2. Global Healthcare Expenditure

        5.1.3. Global IVD Market Overview

Complete TOC: https://www.futuremarketinsights.com/toc/rep-gb-17301

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About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

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