There is an increasing demand for technologically advanced diagnostic procedures that facilitate the early intervention of the disease. The industry players are focused on developing innovative technological solutions for accurate and efficient results. Advancement in screening techniques, such as use of biomarkers, is gaining importance. The upsurge in technological developments is anticipated to further drive industry growth.
On account of increasing adoption of Pap test, the number of deaths due to cervical cancer has declined significantly in past few years. It helps detect precancerous lesions at an early state and, thus, reduces the number of cervical cancer cases. The American Cancer Society stated that the cervical cancer cases in last 40 years in the U.S. have declined by more than 50%. Initially, the Pap test screening was carried out every year which lead to further unnecessary procedures. However, the American Cancer Society now recommends that women in the age group of 21 to 29 should undergo Pap test every 3 years.
Further Key Findings from the Study Suggest:
In 2015, the Pap testing segment held majority of the market share of 49.6%. The segment's large share can be attributed to the high efficiency of the tests in early diagnosis. Also, the increasing awareness about the impact of early diagnosis contributed to its growth.
In 2015, North America was the leading regional market with a revenue share of 48.3%. The U.S. is a key market in North America. Growing incidence of cervical cancer coupled with initiatives undertaken by government agencies in the form of awareness programs pertaining to the early screening of the disease are key factors for the country's large market share.
Asia Pacific is expected to witness lucrative growth over the forecast period growing at a CAGR of 9.6%. The various steps undertaken by governments of developing countries such as India, China, Philippines, and other in order to improve healthcare infrastructure and to improve access to healthcare facilities are amongst key factors attributing to region's high growth. Also, high prevalence of cancer in developing nations and increasing consumer awareness levels drive the growth
This market is presently dominated by a few key participants such as Becton, Dickinson and Company, F. Hoffmann-La Roche Ltd, Abbott Laboratories, OncoHealth Corp, Hologic, Inc., QIAGEN, Quest Diagnostics, Inc and Guided Therapeutics, Inc. The key players focus specially on developing innovative solutions for diagnosis. For instance, F. Hoffmann-La Roche Ltd., in 2014, launched automated CINtec PLUS cytology test that efficiently detects the presence of precancerous cells.
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