Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report ongoing study by Infinium Global Research on the prostate cancer biomarker market provides in-depth analysis of segments and sub-segments in the global as well as regional prostate cancer biomarker market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional prostate cancer biomarker market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global prostate cancer biomarker market. According to the report, the global prostate cancer biomarker market is projected to grow at a healthy CAGR over the forecast period of 2021-2027.
Prostate cancer is a type of cancer that affects the prostate gland. In males, the prostate is a small gland that generates seminal fluid, which feeds and transports sperm. Prostate Cancer is among the most commonly occurring type of cancer. The progression of prostate cancer includes activating signaling pathways that control apoptosis, metastasis, anoikis, angiogenesis, and cell proliferation. It spreads slowly over the course of time and its early detection and prediction can help in treatment in a better way. Current trends in prostate cancer treatment are increasing the demand for dependable biomarkers to aid in decision-making in a difficult clinical context. Over the last decade several novel biomarkers have been introduced into the market. Prostate cancer can be categorized into common genres such as predictive, diagnostic, and prognostic.
The major factor driving the growth of the market is the prevalence of prostate cancer in males. According to the world health organization, there were 1.41 million new cases of prostate cancer in the world in 2020, and was the 4th most commonly occurring cancer type in the world. Owing to the widespread prevalence of prostate cancer in the world the demand for biomarker based prediction and diagnosis of prostate cancer is growing rapidly. This is benefiting the market. The overall awareness of prostate cancer biomarkers for diagnosis and prognosis is growing among consumers. Research studies validating the use of biomarkers in prostate cancer are being published in national and international journals and this knowledge is now easily penetrating the end consumers owing to the internet. Additionally, awareness campaigns and educational sessions by cancer institutes, professionals, and cancer patients regarding prostate cancer biomarkers is boosting the growth of the market. High costs associated with the prostate state biomarkers may hamper the growth of the market. Nevertheless, the growing investments in the R&D of prostate cancer biomarkers are expected to offer new opportunities.
North America is expected to dominate the market over the forecast period. According to the American Cancer Society, it is estimated that there will be 268,490 new cases of prostate cancer and 34,500 deaths of prostate cancer in the United States alone. Favorable support from the government and investments in the R&D of cancer research are the factors supporting the growth of the market in North America. Advanced healthcare infrastructure including specialized cancer hospitals, institutes, and clinics facilitates access to prostate cancer biomarkers. The market players offer a number of prostate cancer biomarkers in North America. These market players include Pfizer Inc, Thermo Fisher Scientific, Inc., Merck & Co., Inc., and others. Government support through healthcare schemes for prostate cancer and high income levels of people also support the growth of the market. Following North America, Europe is expected to be the second largest region in the market owing to its advanced healthcare infrastructure and high income of people.
The report on the global prostate cancer biomarker market covers segments such as assay type, biomarker genre, and application. On the basis of assay type, the sub-markets include blood, urine, and serum. On the basis of biomarker genre, the sub-markets include predictive, diagnostic, and prognostic. On the basis of application, the sub-markets include cancer institutes, hospitals, and clinics.
The report provides profiles of the companies in the market such as Thermo Fisher Scientific, Inc., Beckman Coulter Inc, Pfizer Inc, F. Hoffmann-La Roche Ltd, QIAGEN N.V., Novartis AG, Abbott Laboratories, Merck & Co., Inc., Myriad Genetics, Inc., and Sanofi-Aventis.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the prostate cancer biomarker market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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