SEATTLE--(BUSINESS WIRE)--According to Coherent Market Insights, the global cervical cancer diagnostic tests market is estimated to be valued at US$ 5,910.2 million in 2020 and is expected to exhibit a CAGR of 6.2% over the forecast period (2020-2027).
Key Trends and Analysis of the Global Cervical Cancer Diagnostic Tests Market:
Increasing funding for R&D in diagnosis of cervical cancer is boosting growth of the market. For instance, in June 2020, National Cancer Institute granted US$ 3.1 million to a researcher at Fox Chase Cancer Center (Pennsylvania, U.S.) for a study evaluating a method that allows Asian American women to collect their own samples, to check the presence of the human papillomavirus (HPV).
Furthermore, increasing launches and approval of products is expected to drive the market growth. For instance, in April 2020, Hologic, Inc. received the U.S. Food and Drug Administration premarket approval for its ThinPrep Integrated Imager, which will make automated imaging of Pap tests more broadly available to laboratories and cytologists in the U.S.
For instance, In July 2020, Guided Therapeutics, Inc. received a new CE Mark through its European contract manufacturer, Newmars Technologies, Kft., for its LuViva Advanced Cervical Scan.
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Furthermore, key players operating in the global cervical cancer diagnostic tests market are focusing on adoption of inorganic growth strategies such as acquisition and collaboration in order to increase their market presence in the global market. For instance, in 2013, Quest Diagnostics completed the acquisition of Med Fusion, LLC and Clearpoint Diagnostic Laboratories, LLC (‘Med Fusion’), in an all cash transaction for US$ 150 million. Through the acquisition, the company acquired all of Med Fusion's operations. Med Fusion provides precision medicine diagnostics to aid cancer treatment.
For instance, in 2016, Novacyt Group, a company headquartered in France, signed a distribution agreement with MDL Asia Pty Ltd for marketing and distribution of the Novacyt group’s products in Asia Pacific, excluding Greater China.
Key Market Takeaways:
The global cervical cancer diagnostic tests market is expected to exhibit a CAGR of 6.2% over the forecast period, owing to increasing incidence of cervical cancer. For instance, according to National Center for Biotechnology Information 2018, China being the world’s largest developing country, exhibits high incidence of cervical cancer with approximately 130,000 new cases each year.
Competitive Landscape:
Key players operating in the global cervical cancer diagnostic tests market include DYSIS Medical Ltd., Abbott Laboratories, Becton, Dickinson and Company, The Cooper Companies, Inc., Danaher Corporation, F. Hoffmann-La Roche AG, Quest Diagnostics, Arbor Vita Corporation, Hologic, Inc., Zilico Ltd, and Qiagen.
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Market Segmentation:
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Global Cervical Cancer Diagnostic Tests Market, By Test Type:
- Pap Smear Test
- Colposcopy Test
- ECC Test
- HPV Test
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Global Cervical Cancer Diagnostic Tests Market, By Age Group:
- Age 20 – 40
- Age Above 40
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Global Cervical Cancer Diagnostic Tests Market, By Region:
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North America
- U.S.
- Canada
-
Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
-
Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
-
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
-
Middle East
- GCC
- Israel
- Rest of Middle East
-
Africa
- South Africa
- Central Africa
- North Africa
-
North America
Related Market Intelligence Reports:
Cancer Diagnostics Market, By Test Type (Tumor Biomarkers Tests (PSA Tests, CTC Tests, AFP Tests, CA-19 Tests, HER2 Tests, BRCA Tests, ALK Tests, CEA Tests, EGFR Mutation Tests, KRAS Mutation Tests, Others)), Imaging (Ultrasound, Mammography, MRI Scan, PET Scan, CT Scan, SPECT & Others), Biopsy (Needle Biopsy, Endoscopic Biopsy, Bone Marrow Biopsy, Others), Liquid Biopsy Immunohistochemistry In Situ Hybridization), By Cancer Type (Breast Cancer, Lung Cancer, Colorectal Cancer, Melanoma, Blood Cancers, Prostate Cancer, Ovarian Cancer, Stomach Cancer, Liver Cancer, Others), By End User (Hospital Associated Labs, Independent Diagnostic Laboratories, Diagnostic Imaging Centers, Cancer Research Institutes, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 – 2027
Read more: https://www.coherentmarketinsights.com/market-insight/cancer-diagnostics-market-4029
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