Transparency Market Research Report Added "Cytology and HPV Testing Market" to its database.
Albany, NY -- (SBWIRE) -- 09/28/2017 -- The global market for cytology and HPV testing is projected to expand at a rapid pace over the coming years, with the value rising from US$7.9 bn in 2015 to US$10.5 bn by 2024. North America is the largest as well as the fastest expanding regional market in terms of revenue and this segment is poised to develop at a 3.3% CAGR during the forecast period to reach US$5.8 bn by 2024. While HPV testing services dominate the HPV testing market by revenue, assays kits are anticipated to register the highest CAGR of 10.1% from 2016 to 2024. On the other hand, the cytology testing market is led by cytology testing services and cytology testing assay kits are likely to expand at a 5.1% CAGR, the fastest among other sub-segments.
The growing incidence of cervical cancer as well as HPV infections is the single most important factor driving the demand for cytology and HPV testing. The number of new cases of cervical cancer and the number of deaths resulting from this chronic condition have propelled patients to opt for early detection and diagnosis methods. The rise in awareness about the commercial availability of screening tests has driven the adoption of cytology testing. The high incidence rate of HPV infections and growing awareness regarding the threat that these infections pose to the immune system have fueled HPV testing and Pap smear screening.
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The competitive landscapes of the cytology testing market and the human papillomavirus (HPV) testing market are both oligopolistic in nature. Transparency Market Research has found that a handful of large companies have been enjoying dominance over the global scenario, thereby reducing the level of competition and making the entry of new players extremely difficult.
However, TMR has observed that several emerging markets present a similar challenge. "The lack of access to better healthcare and infrastructure for women and the presence of outdated facilities in most developing countries restrict the large-scale adoption of cytology and HPV testing," the analyst states.
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Qiagen N.V., Hologic, Inc., and F.Hoffman-La Roche AG together enjoy a massive 86% of the HPV testing market. "Considering that the market shares of the first and second place companies catering to the demand for HPV testing are rather close, upcoming approvals for new screening tests are likely to have a significant impact on their position in the market," the author of the study states. For instance, the 2014 approval of Roche's cobas HPV test by the U.S. Food and Drug Administration (FDA) has resulted in the upsurge of the company's market share from what it was a couple of years ago.
Similarly, Hologic and Becton Dickinson account for 89% of the cytology testing market. The only competition observed by TMR in this area of the market is currently in the segment of Pap tests in the U.S., which is a lucrative avenue for cytology testing. However, non-FDA approved tests also pose a threat to the present status of players.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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