Albany, NY, April 24, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research "Cervical Cancer Diagnostic Tests Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020," the 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.
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Cervical cancer develops in cervix due to abnormal growth of cervical cells, and is commonly spread through a virus termed as human papillomavirus (HPV). Presently, the cervical cancer diagnostic tests market is growing at a rapid pace due to increasing prevalence and deaths caused due to cervical cancer across the globe. According to the World Health Organization (WHO), cervical cancer accounts for deaths of more than 270,000 women each year, primarily in the developing countries. With the increasing use of cervical cancer diagnostic tests such as Pap smear tests, HPV testing and colposcopy for early detection, the market is described as highly competitive with high growth rate.
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Increasing incidences of weakened immune system, rapid spread of human papillomavirus (HPV) infection among the female population and long-term use of oral contraceptive pills are the primary factors responsible for the growth of cervical cancer diagnostic tests market. Furthermore, other lifestyle-related factors such as smoking, having multiple sex partners and certain family history of cervical cancer are anticipated to drive the growth of the market in the near future. The advent of technologically advanced computer-guided screening tests for cervical cancer to reduce the rate of false-negative test results and improve accuracy would contribute to the growth of the cervical cancer diagnostic tests market during the forecast period from 2014 to 2020. However, certain restraining factors such as lack of education regarding the prevalence of cervical cancer and reluctance of the female population to undergo cervical cancer prognosis would hinder the growth of the market. Moreover, unfavorable taxation and lack of favorable reimbursement policies in the European and Asian countries have affected the growth of the market negatively.
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The Pap smear tests segment accounted for the largest share of over 45% of the total cervical cancer diagnostic tests market in 2013. Factors attributed to the dominance of this lower test prices and growing awareness about cancer diagnosis and early detection. Similarly, in terms of growth rate, the HPV testing is forecast to grow at the fastest growth rate of more than 8% from 2014 to 2020 of the cervical cancer diagnostic tests market. Rapid growth of the HPV testing segment is attributed to the increasing incidence of HPV infections and risk of abnormal Pap test results.
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Geographically, North America accounted for the largest share of the total cervical cancer diagnostic tests market in 2013. However, Asia Pacific countries such as Japan, South Korea, Malaysia, Australia, Thailand, India and China are witnessing remarkable growth and are anticipated to emerge as promising markets in the near future due to increasing awareness about the diagnosis of cervical cancer, easy market penetration, and increasing disposable income in these developing nations. Moreover, favorable support from governments for healthcare infrastructure would boost the growth of the cervical cancer diagnostic tests market in Asia Pacific.
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High growth rate of the cervical cancer diagnostic tests market is likely to attract various top players. Major players operating in the cervical cancer diagnostic tests market are Abbott Laboratories, Becton, Dickinson and Company, Femasys, Inc., Hologic, Inc., Guided Therapeutics, Inc., OncoHealth Corp., Quest Diagnostics, Inc., Roche Diagnostics, QIAGEN, and Zilico Ltd.
The global cervical cancer diagnostic tests market is segmented as follows:
Cervical Cancer Diagnostic Tests Market, by Type of Tests
- Pap Smear Tests
- Colposcopy
- HPV Testing
- Endocervical Curettage (ECC)
- Others {Cone Biopsy and Loop Electrosurgical Excision Procedure (LEEP)}
Cervical Cancer Diagnostic Tests Market, by Geography
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.