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Cervical Cancer Diagnostic Tests Market to Reach US$ 8.9 Billion by 2020
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According to the research study, in 2013, the global market for cervical cancer diagnostic tests was valued at US$5.9 bn and is estimated to reach a value of US$8.9 bn by the end of 2020. The market is anticipated to exhibit a healthy 6.10% CAGR between 2014 and 2020.
Cervical cancer is a type of cancer that develops in the cervix of women. This type of cancer does not show a lot of symptoms in the early stages. However, some of the common conditions faced by patients are unusual vaginal bleeding that may occur in between periods, after menopause, or after sex. This type of cancer is one of the most common cancer types among women.
The global market for cervical cancer diagnostic tests has been classified on the basis of type into endocervical curettage (ECC), colposcopy, Pap smear test, HPV testing, and others. In 2013, the Pap smear test segment dominated the overall market, holding a 45% share in the global market for cervical cancer diagnostic tests. The high growth rate of this segment can be attributed to the high efficiency of the test, low cost of the test in comparison with other tests available in the market, and rising awareness regarding cancer diagnosis. On the other hand, the HPV segment is estimated to register a progressive 8% CAGR between 2014 and 2020.
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The global market has been divided on the basis of geography into North America, Europe, Asia Pacific, and Rest of the World. In 2013, the North America market accounted for the largest share in the overall market. The rapid growth of this region can be attributed to the rising incidence of cervical cancer, rising awareness regarding the malignant effects of cervical cancer, and technological developments. Moreover, several policies of reimbursement associated with cervical cancer treatments are further estimated to drive the North America market for cervical cancer diagnosis tests.
On the other hand, the Asia Pacific market is anticipated to register the highest growth rate in the next few years, owing to the rising consumer market, favorable government support for enhanced healthcare infrastructure, and rising awareness for healthcare among the population in several emerging nations. In addition, tax benefits, easy market penetration, and low cost of labor will further augment the growth of the Asia Pacific market.
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Furthermore, the research study covers the competitive landscape and vendor analysis of the global market for cervical cancer diagnostic tests. The analysis throws light on the company overview, inception details, business strategies, product portfolio, SWOT analysis, financial overview, and recent developments in the market. The prominent players operating in the global market for cervical cancer diagnostic tests include Becton, Dickinson and Company, F. Hoffmann-La Roche Ltd., Hologic, Inc., QIAGEN N.V., Abbott Laboratories, Femasys, Inc., OncoHealth Corp., Zilico Ltd., Quest Diagnostics, Inc., and Guided Therapeutics, Inc.
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