San Francisco, California, September 19, 2018 – The intensifying need for early detection of prostate cancer world over is a key factor behind the evolution of the prostate cancer diagnostics market. The notably rising morbidity of prostate cancer in worldwide men populations is a key factor propelling the market growth. The substantial risk of misdiagnosis of the prostate cancer associated with conventional screening methods is driving the demand for more effective and reliable biomarkers.
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A report by TMR Research titled “Prostate Cancer Diagnostics Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2028”, offers a critical evaluation of such trends and developments for analyzing key growth dynamics. In recent years, the need for correctly identifying the high-risk population for prostate cancer has increased considerably in the global healthcare industries.
The rising popularity of serum based marker testing to be used in combination with prostate-specific antigen (PSA) testing for detection of clinically significant prostate cancer is boosting the market. This is proving to be substantially beneficial in eliminating unnecessary biopsies and decreasing the harms of screening. A number of prospective trials for advancing serum-based marker augurs well for the market.
The global prostate cancer diagnostic market is expected to notably benefit from the rapidly rising awareness about symptoms suggestive of prostate cancer, especially in developing economies. In particular, the growing adoption of lifestyle modifications that can help in the prevention of prostate cancer bodes well for the market. The advent of technologically advanced products in the market which aids in the early prostate cancer detection is opening lucrative avenues for market players. The advent of advanced biomarkers with increased specificity that can help in risk stratification is a case in point.
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Some of the prominent players operating in the prostate cancer diagnostics market are OPKO Health, Inc., Siemens Healthcare GmbH, Genomic Health, Abbott Laboratories, Myriad Genetics, Inc., and MDx Health.