Newark, NJ, Sept. 09, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global cytology and HPV testing market is expected to grow from USD 7.87 billion in 2019 to USD 12.64 billion by 2027, at a CAGR of 6.1% during the forecast period 2020-2027.
The major factors driving the growth of the market are increasing cervical cancer screenings, high incidence of HPV infections, and rising global awareness about cancer. As per the American Cancer Society, cervical cancer is one of the most prevalent reasons for cancer mortality in American women.
Cytology short for cytopathology is a field of pathology which studies and diagnoses cellular level diseases. HPV, which is the abbreviation for human papillomavirus, is a set of similar viruses that cause STIs (Sexually Transmitted Infection) like warts, and can even cancer in rare cases. These infections are usually transmitted sexually or through skin-to-skin contact. They affect the moist membranes of the body, such as mouth, vagina, throat, anus, and vulva. It can also affect the skin of the body, bronchi, trachea, inner nose, and inner eyelids.
With the outbreak of a global pandemic, many have faced salary cuts and job losses. Covid-19 has become a threat to the entire world's economy and has negatively impacted all kinds of markets, including the cytology and HPV testing market. With decreased human to human contact due to lockdowns worldwide, less disposable income and broken supply chains, the market's growth is expected to slow down.
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Key players operating in the global cytology and HPV testing market include Becton, Dickinson and Company, Fujirebio Diagnostics Inc., Cepheid Inc., Abbott Laboratories Inc., QIAGEN N.V., OncoHealth Corporation, F. Hoffmann-La Roche AG, Arbor Vita Corporation, and Hologic Inc., among others. To gain a significant market share in the global cytology and HPV testing market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. Abbott Laboratories Inc. and F. Hoffmann-La Roche AG are some of the biggest players in the global cytology and HPV testing market.
- For instance, In September 2015, at the annual meeting of the American Society for Cell Biology, Becton, Dickinson and Company launched the BD FACSCelesta, an innovative method for the portfolio of BD cell analyzers. The cytometer coverage promotes a high-resolution cell population and tests 14 distinct single-cell characteristics, which are an ideal solution for researchers.
- In February 2015, F. Hoffmann-La Roche AG acquired Signature Diagnostics, a company in genomics & translational oncology. The acquisition would strengthen the diagnostics business for F. Hoffmann-La Roche's next-generation sequencing (NGS). F. Hoffmann-La Roche will be able to leverage the unique understanding of Signature in both NGS & biobank assays in order to generate new treatments for patients with cancer.
Cytology testing dominated the market and held the largest market share of 67.29% in the year 2019
On the basis of products & services, the global market has been segmented into cytology testing and HPV testing. The cytology testing segment has been further divided into assay kits, systems and services. The HPV testing segment has been further divided into assay kits, systems and services. Cytology testing dominated the market and held the largest market share of 67.29% in the year 2019. The large share of this segment is attributed to the large number of PAP tests carried out all over the world. The cytology assay kits segment is forecasted to grow at a high CAGR in the upcoming years due to factors like rising demand of high sensitivity cytology kits, growing demand for innovative & high accuracy diagnostic kits, and affordable pricing of cytology assay test kits.
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Regional Segment Analysis of the Cytology and HPV Testing Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global cytology and HPV testing market has been classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. The North America region accounted for the major market share of 41.73% in the year 2019 and is anticipated to grow throughout the projected period. The large share of this segment is attributed to key factors such as increasing incidence of HPV infections & cervical cancer and a growing number of governmental awareness programs regarding the availability of hi-tech diagnostic test kits. Other factors that are adding growth to the region include new FDA guidelines that will lead to an increase in the number of HPV tests as primary screening, along with PAP co-testing. Following North America, Europe held the second-largest share of the global market owing to increasing demand for sensitive screening tests such as liquid-based cytology & advanced imaging modalities. On the other hand, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. This growth is due to factors like rapid development of medical technology, improving economic conditions, leading companies setting up operations in the region and the availability of low-cost, high-skilled labor.
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About the report:
The global cytology and HPV testing market is analyzed on the basis of value (USD Billion). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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