Transparency Market Research observes that the competitive landscape in the global cytology testing market the human papillomavirus (HPV) market to be a highly fragmented one, dominated by a handful of players. A report published by TMR states that the leading players such as Qiagen N.V., Hologic, Inc., and F.Hoffman-La Roche AG collectively hold a lion’s share of 86% in the HPV testing market. The constant assertion of dominance by these companies has largely deterred new entrants from being a part of the overall competitive scenario.
“However, the increasing investment in research and development of products to introduce technologically advanced diagnostic kits is expected to give new players a fair chance to make their in the overall market dynamics,” states the lead author of this research report.
According to the research report, the global cytology testing market the human papillomavirus (HPV) market is expected to worth US$10.5 bn by 2024 as the market expands at a CAGR of 3.3% between 2016 and 2024 to climb up from US$7.9 bn in 2015. The significant sub-segment of the cytology testing market will be cytology testing assay kits as it is projected to expand at a CAGR of 5.1% CAGR. Meanwhile, HPV testing market will be dominated by HPV testing services. However, the assays kits segment will progress at a CAGR of 10.1% during the forecast years. Geographically, North America is projected to retain lead in the global market as the region is likely to expand at a 3.3% CAGR during the forecast period.
Easy Availability of Diagnostic Kits Improves Scope for Growth for Global Market
In recent years, the high prevalence of cancer amongst the overall population has played a significant role in the improving the adoption rate of diagnostics. Owing to increasing awareness about diseases and treatments, the global market has witnessed a rise in the uptake of screening tests such as cytology and human papillomavirus (HPV) testing. The rising number of cervical cancer cases have been primarily driving the overall market. Healthcare institutions and organizations have been successful in bringing down the number of deaths due to cervical cancer as the availability of screening kits widens, offering patients easy access to diagnostic products.
The rising incidence of HPV infections is also expected to boost the global market in the coming few years. The chief causes of growing HPV infections across the globe are weakened the immune system, chronic inflammation, prolonged use of contraception, and smoking amongst others. These factors are closely related to changing lifestyles, altering perceptions toward the standard of living, and urbanization. Thus, lifestyle changes, on the whole, are expected to drive the market at a considerable rate in the coming few years.
The growing investments in the healthcare sector are anticipated to present ample of growth opportunities to the global cytology and HPV testing market in the near future. The developing healthcare infrastructure in the emerging economies is expected to drive the global market at an accelerated pace.
Poor Awareness about Cancer and Diagnostics to Hamper Global Market
Despite the headstrong market drivers, the market is expected to be tugged in the opposite direction due to a few restraints. The lack of medical facilities, poor rate of awareness about cancer, and negligible importance toward healthcare in several developing countries of the world are expected to hamper the growth of the global cytology and HPV testing market. Furthermore, lack of access to basic healthcare amenities is also restraining the growth of the overall market.
The review is based on Transparency Market Research’s report, titled “Cytology and HPV Testing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016-2024.”
Global Cytology and HPV Testing Market, by Product and Services
- Assay Kits
- Assay Kits
Global Cytology and HPV Testing Market, by Geography
- Rest of Europe
- Rest of APAC
Rest of the World (RoW)
- Rest of RoW
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