Need immediate assistance? Call 1-518-730-0559 (Us-Canada Toll Free) or Contact Us

 

Global Cytology and HPV Testing Market to Reach US$10.5 bn by 2024 with Rising Cervical Cancer Awareness Programs

Article Description

The cytology and HPV testing market is gaining traction across the globe and is expected to witness significant growth in the coming few years. The growing number of cases of cancer worldwide is encouraging the participation of new players in the market and offer technologically advanced products in the near future. 

In 2015, the global cytology and HPV testing market was worth US$7.9 bn and is estimated to reach a value of US$10.5 bn by the end of 2024. This market is projected to exhibit a 2.90% CAGR between 2016 and 2024.

Rising Incidence of HPV Infections to Propel Global Cytology and HPV Testing Market

The rising incidence of cervical cancer and HPV infections across the globe is one of the key factors estimated to accelerate the growth of the global cytology and HPV testing market in the next few years. In addition, the awareness programs for rising cases of cervical cancer are estimated to encourage the growth of the overall market in the near future. On the other hand, the lack of basic healthcare infrastructure in developing countries is one of the primary factors hampering the growth of the cytology and HPV testing market across the globe.

The global cytology and HPV testing market can be categorized on the basis of product into cytology testing and HPV testing. Both cytology testing and HPV testing segments are further sub-segmented into services, assay kits, and systems. In 2015, the HPV testing services segment accounted for a massive 78.2% share in the global HPV testing market due to the rising number of women taking HPV tests in order to detect cervical cancer. Likewise, in 2015, the cytology testing services accounted for a 78.7% share in the overall cytology testing market, owing to the increasing number of PAP tests performed worldwide.

North America to Exhibit 3.30% CAGR 2016-2020 due to Easy Availability of Advanced Test Kits

By geography, the global market for cytology and HPV testing can be classified into Asia Pacific, Europe, North America, and Rest of the World. In 2015, North America led the global cytology and HPV testing market, accounting for a 52.5% share. This region is growing at a fast pace and is estimated to reach a value of US$5.8 bn by the end of 2024 in terms of revenue, registering a 3.30% CAGR between 2016 and 2020. The easy availability of advanced and innovative diagnostic test kits in this region is one of the primary factors driving the cytology and HPV testing market in North America.

Browse Full Global Cytology and HPV Testing Market Report with TOC:http://www.mrrse.com/cytology-hpv-testing-market

The global cytology and HPV testing market is oligopolistic in nature and is projected to remain this way in the next few years. The leading players engaged in this market account for a massive share in the overall market, thus reducing the competition among the players. Moreover, these players are making it difficult for new entrants to enter the market. The leading players in the global market for global cytology and HPV testing include Abbott Laboratories, Inc., F. Hoffmann-La Roche Ltd., QIAGEN N.V, Arbor Vita Corporation, Cepheid, Inc., Hologic, Inc., Fujirebio Diagnostics, Inc., Becton, Dickinson and Company, and OncoHealth Corporation.