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(Health-NewsWire.Net, June 29, 2020 ) Market Overview
• The Global Prostate cancer diagnostics Market is expected to grow at a high CAGR during the forecasting period (2020-2027).
• Prostate cancer begins when cells in the prostate gland starts to grow out of control. The prostate is a gland found only in males. It makes some of the fluid that is part of semen.
• Almost all prostate cancers are adenocarcinomas. These cancers develop from the gland cells (the cells that make the prostate fluid that is added to the semen). Some other types of cancer that can start in the prostate include small cell carcinomas, neuroendocrine tumors, transitional cell carcinomas, and sarcomas. Prostate cancer can often be found early by testing for prostate-specific antigen (PSA) levels in a man’s blood or by digital rectal exam (DRE). According to a study in the United States, the annual screening with PSA and DRE did detect more prostate cancers than in men not screened, but this screening did not lower the death rate from prostate cancer.
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Market Growth
• The continuous advancements in diagnostic for prostate cancer is driving the growth of the market globally. Some of the new test launched by major players are:
• On December 29th, 2019, Anixa Biosciences, Inc. commercially launched the Cchek Prostate Cancer Confirmation test (Cchek PCC)— which utilizes artificial intelligence (AI), flow cytometry, and liquid-biopsy technology to detect prostate cancer was commercially launched. Once it becomes available, this test will reduce the need for expensive and invasive biopsy procedures to diagnose patients with prostate cancer in certain patients.
• In September 2019, a new and simple blood test has been found to efficiently and accurately detect the presence of aggressive prostate cancer, according to research by Queen Mary University of London. In combination with the current prostate specific antigen (PSA) test, the new test could help men avoid unnecessary and invasive biopsies, over-diagnosis and over-treatment. The new prostate cancer test (the Parsortix® system from ANGLE plc) detects early cancer cells, or circulating tumor cells (CTCs), that have left the original tumour and entered the bloodstream prior to spreading around the body. In July 2019, MDNA Life Sciences has launched the Mitomic® Prostate Test (MPTTM), the world’s most accurate blood test to determine whether a man does or does not have prostate cancer that requires treatment (clinically significant prostate cancer1).
• The Prostate-Specific Antigen (PSA) Test Market is expected to grow at a high CAGR during the forecasting period (2020-2027).
• Prostate-specific Antigen (PSA) is a protein produced by prostate cells and the PSA test is performed to diagnose prostate cancer (PCa) in men and for follow-up post treatment to check if the cancer relapses. PSA testing is an essential tool for detecting prostate cancer, which measures the level of PSA in a man’s blood. Medicare and several private insurers provide coverage for an annual PSA test for all Medicare-eligible men aged 50 and older. The PSA testing is gaining popularity among clinicians and hospitals, owing to the increasing number of people being affected by prostate cancer. It has more market value in the countries with high prevalence rate (Western) and low prevalence rate (Asian), as PSA is used globally for the early detection/screening of prostate cancer. The major players are continuously innovating new PSA with advanced technology which is boosting the growth of the PSA test in prostate cancer diagnosis market. For instance, in February 2019, OPKO Health, Inc. received the U.S. Food and Drug Administration (FDA) approval for the point-of-care Sangia Total Prostate Specific Antigen (PSA) Test using the Claros 1 Analyzer. The product is indicated to quantitatively measure total PSA in whole blood from a fingerstick of blood collected by a healthcare professional and is used in conjunction with a digital rectal exam as an aid in the detection of prostate cancer in men aged 50 years and older.
Market Geographical Analysis
• North America's prostate cancer diagnostics market is expected to grow at a high CAGR during the forecasting period (2020-2027).
• North America is dominating the global prostate cancer diagnostics market with the United States accounting as the major contributor to the market. Prostate cancer is one of the most common cancers in American men, and this is made apparent by the statistics surrounding it. It is estimated by the American Cancer Society that in 2019 there will be about 174,650 men with newly diagnosed prostate cancer which is a 6% increase from 2018. There will also be an estimated 31,620 deaths from prostate cancer in 2019, a 7% increase from 2018. According to Zero Cancer, every 17 minutes another man in the U.S. dies from prostate cancer, which is about 86 deaths per day. The number of deaths are increasing year after year making prostate cancer the second leading cause of cancer death in men in the United States. Hence, it is considered to have an early diagnosis of the condition. The United States Preventive Services Task Force has analyzed the data from all reported prostate cancer screening trials, principally from the PLCO and ERSPC trials, and estimated that, for every 1,000 men ages 55 to 69 years who are screened every 1 to 4 years for 10 to 15 year. About 1 death from prostate cancer can be avoided. 120 men would have a false-positive test result that leads to a biopsy, and some men who get a biopsy would experience at least moderately bothersome symptoms from the biopsy. 100 men would be diagnosed with prostate cancer. Of those, 80 would be treated (either immediately or after a period of active surveillance) with surgery or radiation. At least 60 of these men would have a serious complication from treatment, such as erectile dysfunction and/or urinary incontinence.
Market Key Players
• The growing awareness towards the availability of advance cancer diagnostics technologies, especially in the emerging regions, is also likely to the growth of the prostate cancer diagnostics market. In addition to this, supportive initiatives by various governments across the globe would help boost the market growth.
• Some of the major players dominating the market include: Genomic Health, Inc., Quanterix Corporation, Metamark Genetics, Myriad Genetics, Inc., MDx Health, Siemens Healthcare GmbH, F. Hoffman-La Roche AG, OPKO Health, Inc., among others.
• The key players are adopting several strategies such as product launches, partnership, merger and acquisition, collaborations, finding a new market in their core competency in order to stay competitive in the market.
• For instance,
• In June 2019, OPKO Health, Inc. (has submitted a de novo request to the U.S. Food and Drug Administration (FDA) seeking regulatory clearance for the 4Kscore® test. The 4Kscore® test is a blood test used by health care professionals to assess a patient’s risk of having aggressive prostate cancer after an abnormal prostate specific antigen (PSA) test result, and before a decision is made to perform a biopsy.
• In July 2019, MDNA Life Sciences launched the Mitomic Prostate Test (MPT) in the UK, the world’s most accurate blood test to determine whether a man does or does not have prostate cancer that requires treatment.
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