The Cervical Cancer Screening Market is worth $22 Billion by 2020 – Report by MarketsandMarkets
(PRWEB) March 27, 2015 -- The “The Cervical Cancer Screening Market by Test Type (PAP, HPV), Kit Type (PAP, HPV), End User (Hospitals, Laboratories, Physicians’ Offices & Clinics) –Global Forecast to 2020” provides a detailed overview of major drivers, restraints, challenges, opportunities, current market trends and strategies impacting the market along with estimates and forecast of revenue.
The cervical cancer screening market is poised to reach ~$22 billion by 2020 from ~$15 billion in 2014, at an estimated CAGR of 7.0% from 2015 to 2020. Factors such as rising prevalence of cervical cancer and favorable government initiatives and funding to increase disease awareness are driving the Global cervical cancer screening market. However, the availability of HPV vaccines, uncertain reimbursement rates and changes in regulatory guidelines are hindering the growth of this market.
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The cervical cancer screening market is segmented on the basis of test types, end users and geographies. Based on test type, the cervical cancer screening market is segmented into pap tests and HPV/co tests. Among both, the HPV/co-test is estimated to grow at a higher CAGR during the forecast period. This growth can largely be attributed to the growing incidences of cervical cancer, higher consistency and effectiveness of HPV tests and co-tests that reduce the annual cost of the treatment and changing regulatory guidelines in favor of HPV tests.
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On the basis end users, the cervical cancer screening market is classified into hospitals, laboratories and independent physicians’ offices and clinics. The laboratories segment accounted for the largest share in 2014, while the hospitals segment is estimated to grow at a faster rate due to the increasing volume of patients in hospitals.
On the basis of geography, the cervical cancer screening market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). In 2014, North America accounted for the largest share of the cervical cancer screening market, followed by Europe. Both these markets are estimated to register single-digit growth rates over the next five years. However, Asia-Pacific is expected to register a higher growth rate during the forecast period, owing to huge investment opportunities in this region. Growth of the cervical cancer screening market in the Asia-Pacific region will revolve around China, India, Australia and countries in the Middle East.
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