The factors propelling the growth of the cervical cancer diagnostics and therapeutics market are favorable government initiatives toward cervical cancer prevention, growing prevalence of cervical cancer, increasing awareness regarding early diagnosis, and strong R&D from key players of cervical cancer diagnosis and drugs.
- The market studied has been witnessing considerable growth, which is attributed to the increasing prevalence of cervical cancer among women worldwide. According to the World Health Organization (WHO), more than 270,000 women die every year due to cervical cancer. The cervical cancer mortality rate is higher in developing countries, due to improper detection at early stages of the disease. With the rising adoption of cervical cancer diagnostic tests for the early detection of cervical cancer, the market is expected to grow.
- Increasing awareness among the general population regarding the care, prevention, and treatment of cervical cancer, rise in certain behaviors, such as sex with multiple partners and smoking, certain genetic factors, and weak immune system are all linked to the growth of the cervical cancer diagnostics and therapeutics market.
- Awareness programs have helped in the growth of the market. For instance, Medicaid, the popular government insurance program, covers the screening for cervical cancers. Medicare, another widely used insurance, covers Pap test, pelvic exam, and clinical breast exam for cervical cancer screening every two years. These programs were found to be responsible for the growth of the overall market.
Key Market Trends
The Pap Smear Test Segment is Expected to Hold a Major Market Share
- Pap smear test, the most effective tool for the diagnosis of HPV, was found to be the most revenue-generating segment.
- According to the World Health Organization (WHO), cervical cancer is the fourth most frequent cancer in women, with an estimated 570,000 new cases in 2018, which represents 6.6% of all female cancers.
- Moreover, approximately 90% of deaths from cervical cancer occurred in low- and middle-income countries.
- Factors, such as the increasing prevalence of HPV infection in women and the deficiency of the HPV vaccine, which does not cover all types of HPV infections, are promoting the growth of the market.
North America is Expected to Hold a Significant Share in the Market
- North America is the largest market for cervical cancer diagnostics and therapeutics. The large market share is attributed to the high awareness about disease prevention among women in the region, as well as to the many initiatives launched to prevent cervical cancer, which have increased the reach of insurance coverage for cervical screening tests, especially for low-income women.
- Asia-Pacific, the fastest-growing market for cervical cancer diagnostic tests, attributes its growth to the increasing prevalence of cervical cancer in developing countries, including China, India, Malaysia, Japan, South Korea, and Australia.
The cervical cancer diagnostics and therapeutics market is fragmented, competitive, and consists of several major players. In terms of market share, few of the major players are currently dominating the market. Companies are currently focusing on developing advanced techniques for diagnosis, such as liquid-based cytology. Some of the companies currently dominating the market are Abbott Laboratories, Bristol-Meyrs Squibb Company, GlaxoSmithKline PLC, Merck & Co. Inc., Pfizer Inc., Qiagen NV, Advaxis Inc., Becton, Dickinson and Company, and F. Hoffmann-La Roche Ltd.
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