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Cervical Cancer Diagnostic Tests Market is Projected to be Worth US$ 8.9 Bn by 2020

Global cervical cancer diagnostic tests market was valued at USD 5.9 billion in 2013 and is expected to grow at a CAGR of 6.1% from 2014 to 2020, to reach an estimated value of USD 8.9 billion in 2020

, 19 June 2019 -- Global cervical cancer diagnostic tests market was valued at USD 5.9 billion in 2013 and is expected to grow at a CAGR of 6.1% from 2014 to 2020, to reach an estimated value of USD 8.9 billion in 2020

According to the World Health Organization (WHO), cervical cancer is the second most commonly prevalent cancer and the third greatest cause of death in women, with 530,000 new cases discovered each year. Increasing number of HIV-infected individuals and suppressed immune system are the primary factors contributing to the growth of the global cervical cancer diagnostic tests market. Furthermore, increasing incidences of ###### contact with an infected individual or multiple partners, long-term use of contraceptive pills and certain genetic factors have contributed to the growth of the cervical cancer diagnostic tests market. However, recently, the number of deaths related to cervical cancer has decreased marginally due to rising awareness about various cervical cancer diagnostic tests such as Pap smear tests and HPV tests. Hence, increasing awareness about the screening and treatment of cervical cancer is expected to boost the growth of the market in the next few years.

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The global cervical cancer diagnostics tests market is segmented by test types into Pap smear tests, colopscopy, HPV testing, endocervical curettage (ECC) procedure and others, which includes cone biopsy and loop electrosurgical excision procedure (LEEP). HPV testing segment accounted for the fastest growing segment in the overall market. Factors that have contributed to the high growth of the segment are increasing rate of HPV infection among individuals across geographies, rising incidences of ######## transmittable infections and increasing incidences of smoking. Additionally, most HPV-infected women develop certain mild abnormalities related to the cervix, which would boost the growth of the HPV testing segment. The Pap smear tests segment is also estimated to grow at a CAGR of more than 6% during the forecast period from 2014 to 2020. The major driving factors for such remarkable growth of the segment are early detection of glandular cell abnormalities through Pap smear test that can be further treated immediately and increasing need among female population for prognosis as well as diagnosis of cervical cancer. Hence, early monitoring of cervical cancer in women has contributed to the high growth of the Pap smear tests segment. Demand for other tests such as colopscopy, ECC, LEEP is growing at an equivalent rate due to high incidences and prevalence of cervical cancer.

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Geographically, North America was the largest market for cervical cancer diagnostic tests in 2013. Factors that have driven the market in North America are increasing prevalence of cervical cancer cases, rapid technological advancements, and growing awareness about malignant effects of cervical cancer among individuals. In addition, various reimbursement policies related to the treatment of cervical cancer would most likely fuel the growth of the market in the next few years. However, Asia Pacific is projected to witness the highest growth rate over the forecast period from 2014 to 2020. The rationale behind such growth has been attributed to fast growing consumer market, favorable government support for improved healthcare infrastructure such as hospitals and clinics, and increasing awareness among the population in the developing regions. Moreover, easy market penetration, tax benefits and low labor costs would trigger the growth of the market in the Asia Pacific region.

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Major players operating in the cervical cancer diagnostic tests market are Abbott Laboratories, Becton, Dickinson and Company, and Hologic, Inc. Other companies include Guided Therapeutics, Femasys, Inc., OncoHealth Corp., Quest Diagnostics, Inc., Roche Diagnostics, QIAGEN, and Zilico Ltd.

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Submitted by hawer on Wednesday, 19 June 2019 at 6:11 PM
Category: Health Care & Medical
 
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