Wide Adoption of HPV and Pap Smear Tests to Drive Cervical Cancer Diagnostic Tests Market at 6.10% CAGR till 2020: Transparency Market Research

Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- According to a new report published by Transparency Market Research, titled 'Cervical Cancer Diagnostic Tests Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020', cervical cancer is the second most common cause of cancer-related death and the third most common cancer among women. This cancer accounts for almost 300,000 deaths annually. Currently, it is widely recognized as one of the most common types of cancers affecting women in the U.S. Around 90% cases of cervical cancers are observed to be squamous cell carcinoma.

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Cervical cancer is typically detected through screening methods and appropriate diagnostic tests. Recently, due to the rising awareness about various global cervical cancer diagnostic tests market such as HPV tests and Pap smear tests, the number of deaths due to cervical cancer has decreased marginally. According to the study, the market for cervical cancer diagnostic tests is headed for a market value of US$8.9 bn by 2020 from a value of US$5.9 bn in 2013. Overall, the market is expected to register a 6.10% CAGR from 2014 to 2020.

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Rising awareness about the treatment of cervical cancer and various screening methods is expected to push the growth of the market in the coming years. The report also shows that rapid spread of human papillomavirus (HPV) infection among the female population, increasing prevalence of weakened immune systems, and long-term use of oral contraceptive pills are some of the key factors responsible for the growth of the cervical cancer diagnostics market. This study provides a detailed analysis of the market and helps in understanding the key factors driving or restraining the growth of the market. It shows that the prevalence of many lifestyle-related factors, such as having multiple sex partners, smoking, and inherited cervical cancer, is estimated to drive the market in the near future.

Moreover, the advent of technologically advanced computer-guided screening tests for cervical cancer is also expected to contribute to the growth of the market. These screening tests improve the accuracy of the tests and help reduce the rate of false negative test results. The factors discussed in the study are studied via market attractiveness analysis and Porter's five forces analysis, which help deliver a thorough analysis of the overall competitive scenario of the global cervical cancer diagnostic tests market.

By test types, the market is divided into colposcopy, endocervical curettage procedure, Pap smear tests, HPV testing, and others including cone biopsy and loop electrosurgical excision procedure (LEEP). Among these types, the Pap test segment took up over 45% of the cervical cancer diagnostic tests market in 2013. The main factors pushing the growth of this segment include the growing awareness about cancer diagnosis and the high efficacy of the Pap test at relatively low costs. The report also states that the HPV testing segment is expected to exhibit a CAGR of more than 8% from 2014 to 2020.In the coming years, Asia Pacific is expected to emerge as one of the most promising regions owing to the easy market penetration and increasing disposable income in this region.

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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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Source:Transparency Market Research