San Francisco, 14 Nov 2018: The global prostate cancer diagnostics market size is expected to reach USD 5.5 billion by 2025, according to a new report by Grand View Research, Inc. The market is estimated to expand at a CAGR of 12.3% during the forecast years. Demand for prostate cancer diagnostics is increasing owing to rising prevalence of the disease along with constant technological advancements and awareness regarding the same.
Every year, more than 2,30,000 men are diagnosed with prostate cancer. In addition, as per a study conducted by the American Cancer Society, prostate cancer is the third leading cause of cancer-related deaths in U .S. Constant development of new technologies for the disease diagnosis and treatment would drive the market over the coming years.
Magnetic Resonance Imaging (MRI) technology and Fusion biopsy are the new technologies used for the disease diagnosis. Fusion biopsy is a technique, which uses the combination of MRI and ultrasound. Some of the leading companies in the prostate cancer diagnostics market are MDx Health; Abbott Laboratories; Siemens Healthcare GmbH; F. Hoffman-La Roche AG; Myriad Genetics, Inc.; Genomic Health; and OPKO Health, Inc.
To request a sample copy or view summary of this report, click the link below:
www.grandviewresearch.com/industry-analysis/prostate-cancer-diagnostics-market
Further key findings from the study suggest:
- Increasing prevalence of prostate cancer is primarily boosting the market growth across the globe
- Growing awareness regarding the disease and available treatments along with supportive government initiatives would also drive the market
- The preliminary tests segment captured the largest market share of prostate cancer diagnostics in 2016
- Confirmatory tests segment is said to expand at the fastest CAGR due to low risk of infection, convenience, and non-invasive nature of these tests
- North America is dominant regional market followed by Europe due to sophisticated healthcare infrastructure and availability of technologically advanced products
- Key companies in the market include MDx Health; Abbott Laboratories; Siemens Healthcare GmbH; F. Hoffman-La Roche AG; Myriad Genetics, Inc.; Genomic Health; and OPKO Health, Inc.
Access press release of this research report by Grand View Research: www.grandviewresearch.com/press-release/global-prostate-cancer-diagnostics-market
About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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