Global Cervical Dysplasia Market: Snapshot
Cervical dysplasia is one of the fastest growing market in the field of cancer diagnosis and treatment. Cervical cancer is a precancerous stage and it can be completely cured by early detection. Rising consumer awareness in this regard has led to an increased demand for cervical screenings in the past few years. Government bodies in several developed countries conduct screening programs in order to improve the quality of life of population by reducing the mortality rate. Furthermore, recommendations from government organization for early detection of chronic diseases including cervical dysplasia is one of the major factors that is expected to drive the overall cervical dysplasia market over the forecast period.
Transparency Market Research states that the global cervical dysplasia market was valued at US$349.0 mn in 2015 and will expand at a CAGR of 7.0 % during the period between 2016 and 2024, to reach US$ 640.2 mn by 2024.
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Thanks to High Accuracy and Low Cost, HPV Tests to See Vast Rise in Demand
Based on diagnosis, the market has been segmented into diagnostic tests and diagnostic devices. Furthermore, the diagnosis test segment is examined for Pap smear (Papanicolaou) test, HPV (human papillomavirus) test, and biopsy. Colposcope devices are considered as diagnostic devices for cervical dysplasia market in this report. Of these, the segment of diagnostic tests accounted for around 86.3% of the market in terms of revenue in 2015. Availability of reimbursement for cervical dysplasia screening tests in mature markets such as North America and Europe is one of the key factors expected to fuel the sales of cervical dysplasia diagnostic tests market in the next few years.
Of the key cervical dysplasia diagnostic tests analyzed in the report, the segment of HPV tests is expected to grow at a higher CAGR over the forecast period owing to the rising aversion to Pap smear tests and advancements in HPV testing technologies. The significant false-negative rate and high costs of Pap smear tests have resulted in a vast decline in their demand, with the more accurate and cost-effective HPV testing emerging as one of the primary screening tool recommended by healthcare providers these days.
Developed Economies to Continue Being Most Lucrative
Geographically, North America was the dominant market for cervical dysplasia in 2015. The region accounted for a share of over 55.2% of the global cervical dysplasia market in the said year. Rising awareness about cervical dysplasia screening programs and technological advancements in screening devices and other supporting equipment are the key factors fueling the growth of the North America cervical dysplasia market. The diagnosis test segment in North America dominated, accounting for over 85% in the regional market in 2015. The increasing incidence rate of cervical cancer in women above the age of 50 years and favorable reimbursement policies supported by federal organizations such as Medicare are also expected to drive the market in North America in the next few years.
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The cervical dysplasia market in Asia Pacific is anticipated to witness the most promising growth rate during the forecast period, chiefly owing to the improving healthcare infrastructure and encouraging government funding on cancer research in the region. The markets in emerging economies such as India and China are expected to exhibit significant expansion in the next few years. Several government-funded cervical dysplasia screening programs in these countries, initiated with the aim of reducing the mortality rate by improving the quality of life of the population will be a key driver of the market.
Some of the key players operating in the global cervical dysplasia market are F. Hoffmann La-Roche Ltd., QIAGEN, Becton, Dickinson and company, OncoHealth Corporation, Quest Diagnostics, Inc., Hologic, Inc., and Abbott Healthcare Pvt Ltd.