Prostate Cancer Diagnostics Market is Anticipated to Grow at a CAGR of 10% to Reach US$ 10.84 Billion by 2034

Growing Popularity of Precision Medicine Pushing Sales of Advanced Prostate Cancer Diagnostic Technologies: Fact.MR Report

ROCKVILLE, MD, UNITED STATES, July 9, 2024 /EINPresswire.com/ -- The global prostate cancer diagnostics market is approximated at a size of US$ 4.18 billion in 2024 and is calculated to increase at a CAGR of 10% from 2024 to 2034, reveals Fact.MR, a market research and competitive intelligence provider, in its recently updated industry report.

Prostate cancer is prevalent in men and early detection can lead to get better outcomes. Increasing cases of prostate cancer are driving high demand for advanced cancer diagnostic systems. Personalization or precision medicine is one of the notable prostate cancer diagnostics market trends. In the precision medicine method, specific genetic alterations and biomarkers are identified to offer tailored treatment for patients. Thus, the shift towards precision medicine is expected to push demand for accurate and reliable prostate cancer diagnostic solutions in the years ahead.

Get Free Sample Copy of This Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=58

Technological advancements in imaging modalities such as magnetic resonance imaging (MRI), computed tomography (CT), and positron emission tomography (PET) are anticipated to enhance the detection accuracy of prostate cancer. Integration of artificial intelligence (AI) and machine learning (ML) algorithms is leading to the development of innovative prostate cancer diagnostic solutions. These technologies are set to assist doctors in making accurate and efficient treatment decisions. AI and ML integrated prostate cancer diagnostic machines will uptick the profits of manufacturers in the coming years.

Key Takeaways from Market Study

Global sales of prostate cancer diagnostic solutions are projected to reach US$ 10.84 billion by 2034. The market in the United States is evaluated at US$ 444.6 million in 2024.

Demand for prostate cancer diagnostic technologies in Japan is forecasted to rise at a CAGR of 10.5% through 2034. Hospitals are expected to hold 33.8% of the global market share in 2024. Demand for CTC tests is foreseen to rise at a CAGR of 12.9% from 2024 to 2034.

“Liquid biopsy techniques such as circulating tumor cells (CTCs) and cell-free DNA analysis are gaining traction due to their non-invasive nature,” says a Fact.MR analyst.

Prostate Cancer Diagnostic Technology Providers Offering Non-Invasive Monitoring Solutions

Governments across the world are taking initiatives to increase the importance of early prostate cancer detection. They are also implementing free screening programs to increase awareness and reduce mortality rates. The increasing cases of prostate cancer are also driving the need for improved detection methods. To reduce the risk of complications and improve diagnostics accuracy manufacturers are introducing improved non-invasive prostate cancer diagnostic solutions such as MRI-guided biopsy and liquid biopsy.

According to an article published by US San Diego Today in April 2023, in San Diego County, UC San Diego Health is the first healthcare facility to provide a new minimally invasive prostate biopsy procedure.

Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=58

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global prostate cancer diagnostics market, presenting historical demand data (2019 to 2023) and forecast statistics for the period (2024 to 2034).

The study divulges essential insights on the market based on test type (PSA, PCA3, CTC, others) and end user (hospitals, independent diagnostic laboratories, cancer research institutes), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).

Explore More Related Studies Published by Fact.MR Research:

Prostatic Catheter Market: The global prostatic catheter market size is estimated to be valued at US$ 210.8 million in 2024 and is projected to expand at a CAGR of 5.9% to reach US$ 372.3 million by 2034 end.

Cancer Biomarkers Market: The market for cancer biomarkers is expected to exceed US$ 34 Billion by 2032, representing a threefold increase from 2022. The market is currently worth slightly more than US$ 11 Billion. During the forecasted period, the global market for cancer biomarkers is estimated to grow at an incredible 12% CAGR.

About Fact.MR:

We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client’s satisfaction.

Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Sales Team: sales@factmr.com

S. N. Jha
Fact.MR
email us here