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Cervical Dysplasia Market Valued at US$349.0 Million in 2015, is Expected to Rise to US$ 640.2 Million by 2024
ALBANY, New York, November 8, 2016 /PRNewswire/ --
The global market for Cervical Dysplasia features a highly consolidated competitive landscape, with the top three companies accounting for over 76% of the overall market in 2015, observes a recent report by Transparency Market Research. These top vendors, namely Qiagen AG, Hologic Inc., and F. Hoffmann-La Roche Ltd, have strengthened their hold on the market owing to strategies such as collaboration with leading pharmaceutical and biotechnology companies and successful and focused R&D activities.
Low product penetration clubbed with vast untapped growth prospects across developing economies is a key incremental opportunity for market players. Thus, companies could benefit from increased focus on strong promotional campaigns in developing economies where nearly 90% of cervical cancer deaths occur on an annual basis.
Transparency Market Research estimates that the global cervical dysplasia market will exhibit a healthy CAGR of 7.0% over the period between 2016 and 2024. If the prediction holds true, the market, which valued at US$349.0 mn in 2015, is expected to rise to US$ 640.2 mn by 2024.
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Demand across Developed Regions to Remain Pivotal to Generating Sustainable Profits
In terms of diagnosis, the global cervical dysplasia market is dominated by the diagnostic tests segment, which accounted for over 85% of the overall market in 2015. The rising awareness regarding cervical dysplasia and the vast rise in cervical cancer screening programs in developed countries are the key factors attributed to the high share of the segment in the global market.
Geographically, the market earns a large share of its overall revenue from developed regions such as North America and Europe, which collectively accounted for over 80% of the overall market in 2015. The trend is expected to remain strong over the forecast period as well. Nevertheless, emerging economies across regions such as Asia Pacific and Latin America also present highly promising growth opportunities.
Government-funded Healthcare Screening Programs to Present Vast Growth Opportunities
Funds invested by governments towards several healthcare screening programs in a number of developed countries with the aim of preventing several high-incidence cancers are key to the overall development of the global cervical dysplasia market. Over the forecast period as well, the impact of this factor on the overall development of the market is expected to remain significantly high. The rising number of people to undergo cervical screening tests such as Pap smear, HPV, and colposcopy owing to such government initiatives is an excellent growth area for market players.
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Rising Aversion to Pap Smear Tests to Have Negative Impact on Market Development
Pap smear tests currently hold a significant share in the overall market for cervical dysplasia diagnostic tests. The trend is primarily attributed to the immense success of widespread Pap smear screening programs undertaken in developed countries. In the past decade, however, the number of Pap screening tests has drastically come down, chiefly owing to less than optimal Pap test characteristics, with about 25% to 40% false-negative rate despite the implementation of extensive quality assurance standards.
This potential for missing out on critical cervical cancer symptoms with Pap screening alone has led to the development of enhanced cytology-based screening technologies and increased research activities aimed at understanding the etiologic role of human papillomavirus in causing cervical cancer. The resultant advancements in HPV screening technologies have made HPV testing one of the primary cervical cancer screening tools in the past years, allowing this segment to largely surpass the business of Pap smear screening tests. Although this factor presents an incremental growth opportunity for players in the HPV testing market, the aversion to the lucrative Pap smear screening test segment is expected to hamper the global cervical dysplasia market in the near future.
This review of the market is based on a recent market research report published by Transparency Market Research, titled "Cervical Dysplasia Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024."
For this study, the global Cervical Dysplasia Market is segmented as follows:
Global Cervical Dysplasia Market Revenue, by Diagnosis
- Diagnosis Test
- Pap Smear Test
- HPV Test
- Diagnostic Device
Global Cervical Dysplasia Market Revenue, by End User
- Diagnostic Centers
- Private Gynecologists' Offices
- Research & Academic Institutes
- Ambulatory Surgical Centers
Global Cervical Dysplasia Market Revenue, by Geography
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Browse Related Research Report:
- Cervical Cancer Diagnostic Tests Market (Tests (Pap Smear tests, Colposcopy, HPV Testing, Endocervical Curettage (ECC) and Others (Cone Biopsy and Loop Electrosurgical Excision Procedure (LEEP)) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
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.
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SOURCE Transparency Market Research