According to a recent report from Markets and Markets, the cervical cancer screening market is expected to reach $22 billion by 2020 from $15 billion in 2014, at an estimated CAGR of 7.0% from 2015 to 2020. End users of this market are hospitals, laboratories, independent physicians’ offices and clinics.
Factors driving this global market include
- Rising prevalence of cervical cancer
- Favorable government initiatives
- Funding to increase disease awareness
Cervical cancer is once one of the most common causes of cancer death among American women. The American Cancer Society estimates that about 12,900 new cases of invasive cervical cancer will be diagnosed in 2015 and about 4,100 women will die from this cancer type. According to the Centers for Disease Control and Prevention (CDC), cervical cancer is the easiest gynecologic cancer to prevent or detect early with regular screening and follow-up. The available testing options include the Pap smear and the HPV test.
The new market research report predicts that the HPV test will grow at a higher CAGR during the forecast period. This growth forecast is attributed to the higher consistency and effectiveness of HPV tests and co-tests which reduce the annual cost of the treatment and evolving regulatory guidelines in favor of HPV tests.
While North America accounted for the largest share of the market in 2014, the Asia-Pacific region is expected to register a higher growth rate during the forecast period, owing to huge investment opportunities in this region.
The report identifies the leading manufacturers of the Cervical Cancer Screening Tests and Kits Market is Hologic (U.S.), Qiagen N.V. (Netherlands), Becton, Dickinson and Company (U.S.), and Hoffman-La Roche (Switzerland).