In 2017, the global prostate cancer diagnostics market attained a valuation of about US$ 10.0 Bn. It recorded a 7.7% average growth rate in the past few years. It will be encouraging for players to know that the market developed rapidly in the recent years.
However, in the next five years, the gross margin is expected to follow a declining trend. In 2017, it reached a 71.65%, reducing from a 73.15% touched in 2013.
Global Prostate Cancer Diagnostics Market: Drivers
One of the major factors augmenting the demand in the global prostate cancer diagnostics market is continuous technological development. On the other hand, increasing incidence of prostate cancer is raising the level of demand in the market.
Improving awareness about advanced cancer diagnostics technologies in developing economies and government initiatives taken to support it are expected to drive the growth of the global prostate cancer diagnostics market.
High demand for prostate cancer diagnostics in emerging countries such as China and Japan is strengthening the market. Furthermore, the availability of sophisticated healthcare infrastructure in North America is foreseen to promise growth to the prostate cancer diagnostics market.
Global Prostate Cancer Diagnostics Market: Forecast by End User and Product
On the basis of end user, the global prostate cancer diagnostics market sees a classification into >75 years, 55-75 years, and <55 years. As per the findings of the report, end users aged between 55 and 75 years significantly increased the demand in the global prostate cancer diagnostics market. In 2017, this segmented accounted for a 69.0% share of the market.
By product, the global prostate cancer diagnostics market is segmented into biopsy, imaging, tumor biomarker tests, and others. In 2017, tumor biomarker tests bagged a 59.6% share of the market. However, the biopsy method is mostly used for prostate cancer diagnostics.
Global Prostate Cancer Diagnostics Market: Regional Analysis
By sales, North America takes the leading position in the global prostate cancer diagnostics market. In 2017, the region secured a consumption share of 47.7% in terms of value. In the same year, Europe treaded upon the heels of North America, collecting a 28.5% consumption share of the market.
North America is also the largest supplier that accounted for a 47.8% revenue share of the global prostate cancer diagnostics market in 2017. Europe achieved the second position in the same year as it secured a 39.0% revenue share of the market.
Global Prostate Cancer Diagnostics Market: Key Players
Siemens Healthcare, OPKO, Abbott, and Genomic Health are some of the players leading the global prostate cancer diagnostics market. These companies have secured strong positions in the market as they deal with premier customers and hold important patents and technologies.
According to the analysts authoring the report, the market competition is quite intense.
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