Dublin, Sept. 05, 2023 (GLOBE NEWSWIRE) -- The "United States Prostate Cancer Testing Market by Biomarker Type, Application, End-user, Region, Competition Forecast & Opportunities, 2018-2028" report has been added to ResearchAndMarkets.com's offering.
The United States Prostate Cancer Testing Market is poised to witness remarkable growth throughout the projected period from 2024 to 2028
This anticipated expansion is attributed to several key factors, including the escalating prevalence of prostate cancer among men, a rise in prostate cancer screening and testing initiatives, early diagnosis endeavors, and the government's growing interest in cancer testing and medical advancements.
Notably, data from the Global Cancer Observatory reveals that in the year 2020, the United States witnessed approximately 2,281,658 newly reported cancer cases, of which 209,512 cases were identified as prostate cancer. As awareness about the importance of early detection of prostate cancer continues to spread among the public, the United States prostate cancer testing market is expected to experience significant growth.
Prostate cancer, characterized by the abnormal proliferation of cells within the prostate gland, is a critical health concern for men. Ranking as the tenth leading cause of mortality on a global scale and the sixth primary cause of death in men, prostate cancer's impact is substantial.
Remarkably, the United States takes the lead in research and development spending across the world, with expenditures surpassing USD 679.4 billion, as indicated by Statista's data.
Rising prevalence of prostate cancer
In United States, prostate cancer is the most prevalent cancer in men. This is diagnosed in about 6 out of 10 men who are 65 years old and rare in men under 40 years. Prostate cancer is the second most common cancer among American males, after lung cancer. For instance, in the United States, it was predicted that about 268,490 new cases of prostate cancer were reported in 2022, up from 192,280 new cases in 2009. Moreover, it was estimated that in 2022 around 34,500 men will die of prostate cancer in the U.S.
Growing Geriatric Population
Globally, cancer is the leading cause of death. According to the American Society of Clinical Oncologists, prostate cancer is more than twice as likely in people over 70 years as compared to younger people. This is due to genetic disorders, unhealthy lifestyles, environment, radiation, physical carcinogens, chemical carcinogens as well as biological carcinogens. The need to develop testing procedures for cancer is expected to support the growth of the US prostate cancer testing market.
Government Initiatives Related to Prostate Cancer
The government provides funding for developing new technologies to enhance the testing of prostate cancer positively. For instance, the National Cancer Institute initiated Prostate Specialized Programs of Research Excellence (SPORE), a program designed to convert scientific findings into clinical settings-based outcomes.
The institute also facilitates the development of new technologies and studies to gain a better understanding of monitoring, prevention, diagnosis, and treatment. Such initiatives are expected to drive the growth of the United States Prostate Cancer Testing Market.
Technological Development
The techniques like prostate-specific antigen (PSA) testing, which have developed over the years that confirm tumor progression and proliferation, have created new prospects for the growth of prostate cancer testing over the years. Moreover, prostate cancer testing is essential in precision medicine because it assures the safe and successful use of testing methods.
Additionally, most of the companies in the U.S. prostate cancer testing market provide biomarker tests that are urine, blood, and tissue-based, as well as testing services. This, in turn, shows an impressive rate of growth in the United States prostate cancer market.
Market Dynamics
Drivers
- Rising prevalence of prostate cancer
- Growing geriatric population
- Government Initiatives related to Prostate Cancer
- Technological Advancement
- Recent Developments
Challenges
- High Probability of False Positives during Prostate Cancer Testing
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in United States Prostate Cancer Testing Market
- F. Hoffmann-La Roche Ltd (FOUNDATION MEDICINE, INC.).
- Siemens Healthcare GmbH
- OPKO Health, Inc. (GenPath)
- Myriad Genetics Inc.
- NeoGenomics Laboratories
- Danaher. (Beckman Coulter, Inc.)
- Agilent Technologies, Inc.
- Abcam PLC.
- Bio-Techne. (ExoDx)
- H.U. Group Holdings, Inc. (Fujeribio)
Report Scope
United States Prostate Cancer Testing Market, By Biomarker Type:
- Pre-Biopsy/Post-Negative Biopsy Testing
- Initial Evaluation: Prostate-Specific Antigen (Total PSA, Free PSA)
- Post-Biopsy Tissue Testing
United States Prostate Cancer Testing Market, By Application:
- Diagnostics Biomarkers
- Prognostics Biomarkers
United States Prostate Cancer Testing Market, By End User:
- Cancer Research Institutes
- Diagnostic Laboratories
- Hospitals and Clinics
- Ambulatory Surgical Centers (ASCs)
- Others
United States Prostate Cancer Testing Market, By Region:
- Northeast
- Midwest
- South
- West
For more information about this report visit https://www.researchandmarkets.com/r/v5hyr1
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