Human Papillomavirus Testing Market share growing at a CAGR of 11.8% by 2025

HPV testing is gradually becoming crucial for cervical cancer screening, according to recent report published by Persistence Market Research. The report estimates that in 2017, the global market for Human Papillomavirus testing will reach an estimated value of US$ 629.4 Mn. Improving reimbursement scenario, coupled with high sensitivity of Human Papillomavirus testing in low resource setting, is expected to drive the market’s growth. By the end of 2025, the global market for Human Papillomavirus testing will have soared at 7.6% CAGR, bringing in more than US$ 1,100 Mn in revenues.

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A key limitation for Human Papillomavirus testing is that these tests are confined to women as men undergoing HPV testing have higher risks of getting infected with genital warts. In addition to this, patients are not willing to take Human Papillomavirus tests because of lack of diagnosis options. Over-diagnosis of Human Papillomavirus testing can cause more complications and can even risk the life of patients. Meanwhile, the global revenues from Human Papillomavirus testing are being lowered due to availability of HPV vaccines. Preference to HPV vaccines is directly impeding the revenues arising from Human Papillomavirus testing. High cost of HPV screening test, overburdened healthcare system, low awareness on HPV prevention, and imperfections in organized screening programs are some other challenges impacting the growth of global HPV testing market.

North America dominated the global human papillomavirus (HPV) testing market in revenue terms in 2016 and is projected to continue to do so throughout the forecast period. North America is anticipated to be the most attractive market with an attractiveness index of 2.6 during the forecast period. Europe is expected to be the second most lucrative market, with a market attractiveness index of 1.1 during the forecast period. The Latin America human papillomavirus (HPV) testing market represents a market attractiveness index of 0.6 and is estimated to account for 8.9% of the market share growing at a CAGR of 11.8% by 2025 end. The Asia Pacific human papillomavirus (HPV) testing market is estimated to hold 6.8% revenue share by 2017 end and is projected to account for 8.6% share by 2025 end. MEA is expected to be the least attractive market for human papillomavirus (HPV) testing with an attractiveness index of 0.2 over the forecast period

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This release was published on openPR.