Advancements in technologies for rapid and cost-effective diagnosis of cervical cancer is expected to drive market revenue growth.
Advancements in technologies for rapid and cost-effective diagnosis of cervical cancer is expected to drive market revenue growth
The global cervical cancer diagnostics market size is expected to reach USD 12.69 Billion in 2030 and register a revenue CAGR of 5.8% over the forecast period, according to latest report by Reports and Data. Steady revenue growth of the market can be attributed to several factors, such as growing awareness about cervical cancer screening and technological advancements in diagnosis. However, high costs associated with cervical cancer diagnostics may hamper market revenue growth over the forecast period.
Cervical cancer is the fourth-most common cancer and cause of cancer deaths in women worldwide. In 2018, 570,000 cases of cervical cancer were recorded, with over 300,000 deaths, and it accounts for around 8% of both total cancer cases and total cancer deaths in women. Approximately, 80% of cervical cancer occurs in developing countries, as per data from WHO, and it is the most frequently detected cancer during pregnancy. Hence, early diagnosis of cervical cancer is essential to initiate early treatment and thus, reduce mortality rates. Various testing procedures are available for the diagnosis of cervical cancer, but the most accessible and easy testing method is the pap smear test.
The diagnostic test used for cervical cancer is a simple process in which cells are collected from a woman’s cervix and checked for abnormalities, if any. Advancements in technologies have enabled detection of cervical cancer at a fast rate, even at homes, with better accuracy. Governments worldwide are promoting testing devices on a mass scale, especially to women above 30 years of age, in order to help them to undergo such diagnostic tests frequently to identify the disease at an early stage.
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Private healthcare companies are focusing on developing AI-based testing kits that can keep a record of all tests and treatment procedures, which can be shared with doctors within a couple of minutes. Moreover, advancements in personalized medicine can help prevent any side effects during treatment once the cancer is detected. Thus, reliability of testing kits and systematic treatment with fewer side effects are instilling confidence in patients, which in turn, is expected to drive demand for cervical cancer diagnostics and boost market revenue growth.
Some Key Highlights from the Report
- Among therapy segments, chemotherapy segment accounted for largest revenue share in 2021. Chemotherapy is a drug treatment that uses powerful chemicals to destroy fast growing cells in the body, and is most often used to treat cancer. It is used in different ways to treat cancer patients, and is quite effective, as it doesn’t require any supplementary treatment to cure cancer. Additionally, it can relieve signs and symptoms of cancer as well.
- Among therapy segments, the radiation therapy segment is expected to register a faster revenue CAGR during the forecast period, due to increasing adoption of radiation therapy, as it can completely eliminate cancer cells from the body by using high energy X-rays. The therapy can be used as an alternative to surgical interventions in the early stages of cancer. The specific therapy given to patients of cervical cancer depends on several factors, such as health of the woman, stage of the cancer, tolerance capacity, side effects of the therapy, and overall fitness of the patient. Several cancer treatments or therapies are given in combination with internal radiation therapy to achieve maximum results, which is expected to drive segment revenue growth.
- Cervical cancer diagnostics market in North America accounted for largest revenue share in 2021, due to technological developments in the healthcare industry. Presence of an advanced medical sector in the region is playing a pivotal role in facilitating extensive research & development activities for innovative product launches. Rising investments in allied industries, such as pharmaceuticals and biotechnology, are contributing significantly to the growth of this market. Moreover, several key market players have their headquarters in countries in the region, which is further driving overall market growth. Additionally, countries such as the U.S. and Canada have high prevalence of cervical cancer, and so there is increasing demand for novel and effective diagnostic and therapeutic modalities in the region, which is expected to drive market revenue growth in North America.
- In November 2021, Hologic Inc. completed the acquisition of Bolder Surgical, a privately held, U.S.–based company that provides advanced energy vessel sealing surgical devices. This acquisition focuses on expanding Hologic’s growing laparoscopic portfolio and underscores their commitments to women’s health. Hologic, Inc. is an innovative medical technology company focusing primarily on improving women’s health and well-being through early detection and treatment of diseases.
- Companies profiled in the global market report include Abbott Laboratories Ltd., Becton, Dickinson and Company, F. Hoffmann-La Roche Ltd., Guided Therapeutics Inc., Hologic Inc., Qiagen N.V., Quest Diagnostics Inc., CooperSurgical Inc., and Arbor Vita Corporation.
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For this report, Reports and Data has segmented the global cervical cancer diagnostics market based on test type, end-use, therapy, and region:
Test Type Outlook (Revenue, USD Billion; 2019–2030)
- Pap Smear Tests
- Colposcopy
- HPV Testing
- Biopsy and Endocervical curettage
- Others
End-use Outlook (Revenue, USD Billion; 2019–2030)
- Hospitals and Clinics
- Laboratories
- Diagnosing Centers
- Others
Therapy Outlook (Revenue, USD Billion; 2019–2030)
- Surgery
- Radiation Therapy
- Chemotherapy
- Targeted Therapy
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Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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Some points on how the report benefits stakeholders:
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- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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