Cervical Cancer Diagnostic Market Will Reach Height of USD 12 billion By 2024

Global 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.

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.

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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).

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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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