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US Prostate Cancer Instruments And Test Market

US Prostate Cancer Instruments and Test Market Size and Forecast (2025 - 2032), By Test Type (PSA Test, CTC Test, PCA3 Test), By End User (Hospitals, Specialty Clinics, Diagnostic Centers), Country.

Report Code: HEA00561
Report Format: PDF + PPT + Excel
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Report Description

Market Overview

“The US prostate cancer instruments and test market is expected to reach a high CAGR of 8.5% over the Forecast Period 2025-2032, reaching a value of USD 7.2 billion by 2032.”

 

The South region currently leads the market with a 35% share. Key growth drivers include the increasing incidence of prostate cancer, aging population, and technological advances in diagnostic tools. However, the high cost of advanced diagnostic tools may restrain market growth to some extent.

 

US Prostate Cancer Instruments and Test Market Dynamics

Rising Prostate Cancer Incidence Fuels Market Growth

The increasing incidence of prostate cancer is a big factor driving the demand for prostate cancer instruments and tests in the US. According to the American Cancer Society, prostate cancer is the most common cancer among men, with an expected 268,490 new cases diagnosed in 2022. The growing prevalence of prostate cancer is projected to boost the uptake of advanced diagnostic tools and tests, propelling market growth.

 

Technological Advancements Enhance Diagnostic Accuracy

Rapid technological improvements in prostate cancer diagnostics are driving market growth. The development of novel biomarkers, liquid biopsy tests, and AI-powered imaging systems has greatly improved the accuracy and efficiency of prostate cancer diagnosis. For instance, in 2021, the FDA cleared the first AI-based software for prostate cancer detection, which analyzes MRI scans to find suspicious lesions. Such innovations are likely to fuel market growth during the forecast period.

 

High Cost of Advanced Diagnostic Tools May Hinder Adoption

The high cost of advanced prostate cancer diagnostic instruments and tests may hinder their widespread adoption, especially in cost-sensitive healthcare settings. For example, the price of a multiparametric MRI scan, a cutting-edge imaging method for prostate cancer detection, can range from $1,000 to $3,000 in the US. Such high costs may limit the accessibility of new diagnostic tools, thereby restraining market growth to some extent.

 

Segment Overview

PSA Test Dominates the US Prostate Cancer Instruments and Test Market

The PSA (Prostate-Specific Antigen) test segment currently holds the biggest share in the US prostate cancer instruments and test market. PSA tests are widely used for the early detection and monitoring of prostate cancer, due to their non-invasive nature and cost-effectiveness. In 2020, approximately 30 million PSA tests were performed in the US, earning a revenue of USD 1.2 billion.

Recent breakthroughs in the PSA test segment include the FDA approval of the Prostate Health Index (PHI) test in 2012, which combines three PSA markers to improve the accuracy of prostate cancer detection. Additionally, in 2021, researchers from the University of Michigan developed a new PSA test that can distinguish between aggressive and non-aggressive prostate cancers, possibly reducing unnecessary biopsies and treatments.

 

Regional Outlook

South Region Dominates the US Prostate Cancer Instruments and Test Market

The South region, comprising states such as Texas, Florida, and Georgia, currently holds the biggest share in the US prostate cancer instruments and test market. Factors adding to the region's dominance include the high prevalence of prostate cancer, a large aging population, and the presence of key market players.

In 2022, the University of Texas MD Anderson Cancer Center launched a new prostate cancer screening program using advanced MRI technology, hoping to improve early detection rates in the region. The South region made up 35% of the US prostate cancer instruments and test market in 2021, with a value of USD YY billion. In 2021, Florida initiated a statewide prostate cancer awareness program, encouraging men over 50 to undergo regular PSA tests. The program aims to reduce prostate cancer mortality rates in the state, which currently has the second-highest incidence of prostate cancer in the US.

 

Competitive Intelligence

The US prostate cancer instruments and test market is highly competitive, with several key players fighting for market share. Leading players in the market include Abbott Laboratories, Becton, Dickinson and Company (BD), Danaher Corporation (Beckman Coulter), F. Hoffmann-La Roche Ltd, and Siemens Healthineers AG. These businesses are focusing on strategic mergers and acquisitions, product launches, and partnerships to strengthen their market position.

 

In 2021, Abbott Laboratories acquired Ibex Medical Analytics, an AI-powered cancer diagnostics business, to enhance its prostate cancer diagnostic portfolio. BD released the BD Onclarity HPV Assay, a molecular test for the detection of high-risk human papillomavirus (HPV) genotypes associated with cervical cancer, in 2020. Siemens Healthineers AG partnered with Imago Systems to build AI-powered prostate cancer detection software in 2022. The market is projected to witness the entry of new players and increased competition during the forecast period, driven by the growing demand for advanced prostate cancer diagnostic tools and the untapped potential in emerging markets.

 

Analyst Opinion

The US prostate cancer instruments and test market is expected to grow significantly in the future years, driven by rising prostate cancer incidence, technical advancements, and increased awareness of early diagnosis. The market is moving towards non-invasive and precise diagnostic technologies including liquid biopsy testing and AI-powered imaging systems. Furthermore, market players can expect new growth prospects as the focus shifts to personalized medicine and the development of companion diagnostics.

 

However, the high cost of modern diagnostic devices and tests may limit market expansion, especially in cost-sensitive healthcare settings. To increase their market reach, industry participants must focus on providing cost-effective solutions and increasing their distribution networks. Overall, the US prostate cancer instruments and test industry has a bright future, with numerous prospects for innovation and expansion. Companies who can successfully negotiate the changing regulatory landscape, invest in R&D, and form strategic alliances will be well-positioned to thrive in this dynamic market.

 

Major Players

  • Abbott Laboratories

  • Becton, Dickinson and Company (BD)

  • Danaher Corporation (Beckman Coulter)

  • F. Hoffmann-La Roche Ltd

  • Siemens Healthineers AG

 

Key Developments

  • Abbott Laboratories introduced the Alinity m STI Assay in January 2022, which is a multiplex test that detects four prevalent sexually transmitted illnesses at the same time, including Chlamydia trachomatis and Neisseria gonorrhoeae.

  • In March 2022, the FDA approved the BD Cor System, an automated high-throughput molecular diagnostic platform for infectious disease testing, including sexually transmitted infections.

Table of Content

1. INTRODUCTION

1.1. Market Definitions & Study Assumptions

1.2. Market Research Scope & Segment

1.3. Research Methodology

2. EXECUTIVE SUMMARY

2.1. Market Overview & Insights

2.2. Segment Outlook

2.3. Region Outlook

3. COMPETITIVE INTELLIGENCE

3.1. Companies Financial Position

3.2. Company Benchmarking -- Key Players

3.3. Market Share Analysis -- Key Companies

3.4. Recent Companies Key Activities

3.5. Pricing Analysis

3.6. SWOT Analysis

4. COMPANY PROFILES (Key Companies list by Country) (Premium)*

5. COMPANY PROFILES

5.1. Abbott Laboratories

5.2. Becton, Dickinson and Company (BD)

5.3. Danaher Corporation (Beckman Coulter)

5.4. F. Hoffmann-La Roche Ltd

5.5. Siemens Healthineers AG (*LIST NOT EXHAUSTIVE)

6. MARKET DYNAMICS

6.1. Market Trends

6.1.1. Rising Prostate Cancer Incidence Fuels Market Growth

6.1.2. Increasing Focus on Early Detection and Screening

6.1.3. Growing Adoption of Non-Invasive Diagnostic Methods

6.2. Market Drivers

6.2.1. Technological Advancements Enhance Diagnostic Accuracy

6.2.2. Aging Population and Changing Demographics

6.2.3. Increasing Healthcare Expenditure and Reimbursement Coverage

6.3. Market Restraints

6.3.1. High Cost of Advanced Diagnostic Tools May Hinder Adoption

6.3.2. Lack of Awareness and Screening Initiatives in Certain Regions

6.4. Market Opportunities

6.5. Porter's Five Forces Analysis

6.5.1. Threat of New Entrants

6.5.2. Bargaining Power of Buyers/Consumers

6.5.3. Bargaining Power of Suppliers

6.5.4. Threat of Substitute Products

6.5.5. Intensity of Competitive Rivalry

6.6. Supply Chain Analysis

6.7. Value Chain Analysis

6.8. Trade Analysis

6.9. Pricing Analysis

6.10. Regulatory Analysis

6.11. Patent Analysis

6.12. SWOT Analysis

6.13. PESTLE Analysis

7. BY TEST TYPE (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2025-2032)

7.1. PSA Test

7.2. CTC Test

7.3. PCA3 Test

8. BY END USER (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2025-2032)

8.1. Hospitals

8.2. Specialty Clinics

8.3. Diagnostic Centers

Scope of the Report

By Test Type:

  • PSA Test

  • CTC Test

  • PCA3 Test

By End User:

  • Hospitals

  • Specialty Clinics

  • Diagnostic Centers

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