Indian Prostate Cancer MRI Diagnostic Market Size, Share, Opportunities, And Trends By Technique (T1WI, T2WI, Others), By End-User (Hospitals, Diagnostic Laboratories), By Cancer Type (Adenocarcinoma, Transitional cell carcinoma, Others), And By State - Forecasts From 2023 To 2028

The India prostate cancer MRI diagnostics market is projected to grow at a CAGR of 11.08% over the forecast period, increasing from INR392.442 million in 2021 to INR818.886 million by 2028.

The market is anticipated to grow as a result of rising awareness of the disease and its treatments, as well as the introduction of numerous awareness-raising campaigns by governments and nonprofit organizations. Moreover, clinically significant prostate cancer has demonstrated encouraging outcomes in terms of diagnosis, localization, risk assessment, and staging when using multiparametric magnetic resonance imaging, or mp-MRI.

Prostate-specific antigen (PSA) level and digital rectal examination (DRE) are currently the first steps in the diagnostic pathway for prostate cancer detection. PSA screening has led to a higher detection rate of prostate cancer with stage migration toward low-risk disease when combined with systematic transrectal ultrasound-guided (TRUS) biopsy. Furthermore, the accuracy of prostate cancer diagnosis has increased due to advancements in diagnostic techniques like multiparametric magnetic resonance imaging (mpMRI) and improved prostate-specific antigen (PSA) tests. This has increased the demand for certified prostate cancer diagnosis and therapy products in India. For instance, Siemens Healthcare provides two separate methods ZOOMitPRO and RESOLVE to customize the examination to each patient's needs which includes RESOLVE which lessens blurring and vulnerability to artefacts. High spatial resolution and minimal distortion are features of the final images. Moreover, with its ability to produce diffusion-weighted images with high contrast and resolution in brief acquisition times, ZOOMitPRO is a method for high-resolution, zoomed FOV imaging.

Increasing prevalence of prostate cancer

The major market driver is the increasing prevalence of prostate cancer in India. For instance, the nation reported 37,416 cases of prostate cancer in 2016, and by 2020, that number had risen to 41,532 cases. By 2025, the incidence of prostate cancer is predicted to rise to over 47,000 cases. This amount represents approximately 3% of all cancer cases in the nation. In India, the average age at which prostate cancer occurs is 69.7 years. 

Prostate cancer diagnostics market growth is expected to be driven by rising healthcare spending, expanding insurance coverage, and growing preference for minimally invasive surgeries due to their early recovery and reduced post-operative complications.

Moreover, the market for prostate cancer MRI diagnosis in India is anticipated to grow as a result of rising awareness of cancer treatments, as well as the introduction of numerous awareness-raising campaigns by governments and nonprofit organizations. With the adoption of multiparametric magnetic resonance imaging (mpMRI), the accuracy of prostate cancer diagnosis has increased which has further accelerated the demand for MRI-based certified prostate cancer diagnosis and therapies in India.

The India prostate cancer MRI diagnostic market for T2WI is projected to grow

MRI is a vital tool in the comprehensive management of prostate cancer, going beyond the limitations of relying solely on biopsy or digital rectal examination. Its applicability spans the entire spectrum of cancer care, covering everything from initial detection to treatment planning and ongoing monitoring. However, the effectiveness of T2-weighted imaging (T2WI) in MRI can vary significantly due to differences in methodologies, standards, criteria, and individual interpretations.

T2-weighted imaging (T2WI) is a fundamental MRI pulse sequence essential for outlining the zonal anatomy and determining the presence, location, and stage of prostate cancer, encompassing extraprostatic extension and seminal vesicle invasion. Areas of concern in the peripheral zone of the prostate typically appear darker compared to healthy glandular tissue. However, this feature lacks specificity, as non-cancerous conditions such as atrophy, haemorrhage, prostatitis, and post-treatment changes can mimic cancer in this sequence.

Within the transitional zone, T2WI often presents a darker image, posing a challenge for cancer identification at this level. Suspicious lesions in this region are characterized by indistinct boundaries, exhibiting an erased charcoal appearance, and occasionally manifesting a speculated or water-drop pattern.

Prostate cancer is majorly prevalent in the older population for people who are older than the age of 55, according to the American Cancer Society. The people aged above 65 years in India were 6% in 2019 which increased to 9% in 2022. Hence, with the rising elderly population in the country, this segment is expected to grow in coming years.

Indian Prostate Cancer MRI Diagnostic Market Scope:

Segmentation:

• By Technique
  • T1WI
  • T2WI
  • Others
• By End-User
  • Hospitals
  • Diagnostic Laboratories
• By Cancer Type
  • Adenocarcinoma
  • Transitional cell carcinoma
  • Others
• By State
  • Delhi
  • Maharashtra
  • Assam
  • West Bengal
  • Kerala
  • Others

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY

2.1. Research Design

2.2. Research Data

3. EXECUTIVE SUMMARY

3.1. Key Findings

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. INDIA PROSTATE CANCER MRI DIAGNOSTIC MARKET, BY TECHNIQUE

5.1. Introduction

5.2. T1WI

5.3. T2WI

5.4. Others

6. INDIA PROSTATE CANCER MRI DIAGNOSTIC MARKET, BY END-USER

6.1. Introduction

6.2. Hospitals

6.3. Diagnostic Laboratories

7. INDIA PROSTATE CANCER MRI DIAGNOSTIC MARKET, BY CANCER TYPE

7.1. Introduction

7.2. Adenocarcinoma

7.3. Transitional cell carcinoma

7.4. Others

8. INDIA PROSTATE CANCER MRI DIAGNOSTIC MARKET, BY STATE

8.1. Introduction

8.2. Delhi

8.3. Maharashtra

8.4. Assam

8.5. West Bengal

8.6. Kerala

8.7. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Mergers, Acquisitions, Agreements, and Collaborations

10. COMPANY PROFILES

10.1. Ganesh Diagnostic & Imaging Centre Pvt. Ltd.

10.2. House of Diagnostics

10.3. Apollo Diagnostics (Apollo Health and Lifestyle Limited)

10.4. Rajiv Gandhi Cancer Institute & Research Centre

10.5. Janta X Ray Clinic Pvt Ltd

10.6. Agilus Diagnostics Ltd

10.7. Tata Medical Center

10.8. Vijaya Diagnostic Centre Limited

Ganesh Diagnostic & Imaging Centre Pvt. Ltd.

House of Diagnostics

Apollo Diagnostics (Apollo Health and Lifestyle Limited)

Rajiv Gandhi Cancer Institute & Research Centre

Janta X Ray Clinic Pvt Ltd

Agilus Diagnostics Ltd

Tata Medical Center

Vijaya Diagnostic Centre Limited