Cervical Cancer Diagnostic Market size is anticipated to reach USD 12 billion by 2024. Cervical cancer is caused due to uncontrolled cell division of cancerous or abnormal cell growth in the cervix region. The factors that propel the growth of the cervical cancer diagnostics market include increase in aging female population, rise in the awareness programs for cervical cancer screening, high occurrence rate, and rapid adoption of technology. Moreover, increasing consciousness among the population regarding prevention, care, and treatment of cervical cancer, and availability of advanced and variety of treatment are likely to offer impetus to the market.
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The key driving factors responsible for the growth of Cervical
Cancer Diagnostic market :
On the other hand, there are
factors that may hamper the growth of the market including lack of awareness
related to cervical cancer protection, and changes in regulatory guidelines for
cervical cancer screening. Cervical cancer diagnostics industry is anticipated
to grow at a significant CAGR of 5.9% in the upcoming period as the scope,
product types, and its applications are increasing across the globe.
Cervical cancer diagnostic market
could be explored by type, age group, therapy, end user, and geography. The
market could be explored by test type as HPV Testing, Pap Testing, Cytology
Testing, Colposcopy, Cystoscopy, and Cervical Biopsies. The “Pap Testing”
segment led the cervical cancer diagnostic industry in 2015 and is anticipated
to maintain its dominance by 2024. The key factors that may be attributed to
the growth of market include high efficiency of the tests in initial diagnosis
and increasing consciousness about the impact of the initial diagnosis.
Cervical cancer diagnostics
market could be explored by age group as below 35 years and 35 years &
above. The market could be explored by therapies as Radiation therapy, Surgery,
Targeted therapy, and Chemotherapy. Cervical cancer diagnostic industry could
be explored by the end user as Laboratories, Hospitals, and Others (Clinics and
Independent physicians).
North America accounted for the
major market share of the cervical cancer diagnostic in 2016 and will continue
to lead in the forecast period. The factors that could be attributed to the
growth include high occurrence rate of cervical cancer, growing acceptance of
cervical cancer screening procedures, huge investments by pharmaceutical and
Biotechnological Companies in research centers, high spending on latest
technology, and easy accessibility to healthcare facilities. North America is
likely to be followed by the European region in the forecast period.
Some of the key players that fuel
the growth of the cervical cancer diagnostics industry comprise Cooper
Surgical, Inc.; Abbott Laboratories; Dickinson and Company (BD); Becton, Quest
Diagnostics; Hologic, Inc.; QIAGEN; Siemens; Guided Therapeutics; Arbor Vita;
OncoHealth Corp.; Beckman Coulter, Inc. and Zilico Ltd. The leading companies
are taking up partnerships, mergers and acquisitions, and joint ventures in
order to boost the inorganic growth of the industry.
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