The competitive landscape of the global cervical dysplasia market is a consolidated one. Qiagen AG, F. Hoffmann-La Roche Ltd, and Hologic Inc. are the leading players that have collectively held 76% of the overall market in 2105. Becton, Dickinson and Company, Quest Diagnostics, Inc., OncoHealth Corporation, and Abbott Healthcare Pvt Ltd are the other prominent players operating in the market.
Low product penetration, coupled with vast unexplored growth prospects across developing economies, is a major incremental opportunity for market players. Thus, companies could benefit from increased focus on strong promotional campaigns in developing economies, where nearly 90% of cervical cancer deaths occur on an annual basis. In addition, established market vendors are able to sustain and strengthen their hold on the market owing to strategies such as collaboration with leading pharmaceutical and biotechnology companies and successful and focused R&D activities.
A case in point would be F. Hoffmann-La Roche Ltd. In January 2016, F. Hoffmann La-Roche entered into an agreement with Flatiron Health, an oncology clinical data provider, which is expected to assist the company in manufacturing personalized healthcare products. The company, in 2015, acquired Ariosa Diagnostics, Signature Diagnostics, CAPP Medical, and Kapa Biosystems, in order to develop next-generation sequencing technologies.
According to the TMR report, the global cervical dysplasia market will rise to a valuation of US$640.2 mn by 2024 from its initial value of US$349.0 mn in 2015, registering a healthy CAGR of 7.0% within the forecast period of 2016 to 2024.
Cervical Dysplasia Market Receives Thrust from Government Initiative in Developing Economies
In the field of cancer diagnosis and treatment, cervical dysplasia is the fastest growing market. Early detection can help cure cervical cancer completely. In regards to this, consumer awareness is spreading, which is invariably leading to the growth of the cervical dysplasia market. Government agencies, especially of developed economies are recommending early detection of cervical dysplasia and is the principal factor fuelling the global cervical dysplasia market growth. Moreover, increasing incidence of various sexually transmitted diseases (STDs), rise in smoking habits, alcohol and drug abuse, and growing usage of immunosuppressant drugs and others are supplementing the growth of the said market.
On the contrary, a large section of the female population, especially in developing economies, lacks awareness about cervical cancer and have little or no access to healthcare facilities, thus limiting the growth of the market.
Growing Awareness about Cervical Dysplasia Screening Programs to Boost North America Market
Geographically, North America dominated the global cervical dysplasia market with a share of 55.2% in 2015. This region is expected to progress in the forecast period as well due to growing awareness about cervical dysplasia screening programs and technological developments in screening devices. In addition, the rate of occurrence of cervical cancer in women is high in North America, thus driving the demand. Plus, favorable reimbursement policies supported by federal organizations such as Medicare are likely to boost the market growth in this region.
Encouraging government funding on cancer research and improving healthcare infrastructure will drive the market in Asia Pacific. Several government-funded cervical dysplasia screening programs in countries such as India and China are working towards lowering the mortality rate by improving the quality of life of the population, thereby positively impacting the market growth.
On the basis of diagnosis, the global cervical dysplasia market is dominated by the diagnostic tests segment, which accounted for over 85% of the overall market in 2015. The key factors attributing to the high share of the segment in the global market are growing awareness regarding cervical dysplasia and the vast rise in cervical cancer screening programs in developed countries.
This review is based on the findings of a TMR report titled ‘Cervical Dysplasia Market (Diagnostics - Diagnostic Tests (Pap Smear Test, HPV Test, and Biopsy), Diagnostic Devices (Colposcopy); End User - Hospitals, Diagnostic Centers, Private Gynecologists’ Offices, Research and Academic Institutes, and Ambulatory Surgical Centers) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.’
Global Cervical Dysplasia Market Revenue, by Diagnosis
- Diagnosis Test
- Pap Smear Test
- HPV Test
- Diagnostic Device
Global Cervical Dysplasia Market Revenue, by End User
- Diagnostic Centers
- Private Gynecologists’ Offices
- Research & Academic Institutes
- Ambulatory Surgical Centers
Global Cervical Dysplasia Market Revenue, by Geography
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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