NEWARK, Del, May 16, 2023 (GLOBE NEWSWIRE) -- As per Future Market Insights’ latest industry analysis, the valuation for the global cervical cancer screening market was around US$ 1.4 Billion in 2022 and is projected to exhibit a CAGR growth of close to 13.7% over the forecast period, with an estimated valuation of US$ 5.7 Billion in 2033.
Cervical cancer has experienced the most substantial spike in both new patients and patients presenting with the disease. As per the American Society of Clinical Oncology, 2020, oncologists have seen a larger number of new patients across five common cancers compared to pre-pandemic levels, among which cervical cancer registered an increase of 20%. With high-risk human papillomavirus (HPV) vaccination, screening, diagnosis, and treatment of pre-invasive lesions, cervical cancer can be avoided.
In regions with limited access to pathology services, such as Africa, ensuring healthcare accessibility becomes crucial. Consequently, companies are actively developing innovative technologies to empower patients and involve them more actively in managing their health conditions. An example of such a development is the mobile health software called iThemba Life, which provides users with HPV viral load information, educational resources, reminders, and support directly to their smartphones. This initiative aims to bridge the gap and improve healthcare engagement for individuals in resource-constrained settings.
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These factors are fueling the expansion of the cervical cancer screening market and are projected to sustain the demand for advanced and innovative treatment options in the fore-seeable future.
Key Takeaways:
- Human papillomavirus (HPV) is the leading segment of tests among end users and held about 75.0% market share in 2022, for risk stratification, HPV testing offers useful information. HPV comes in a variety of forms, including high- and low-risk varieties. While low-risk HPV variants typically result in benign genital warts, high-risk HPV strains are linked to an elevated risk of cervical cancer.
- By cancer, squamous cell carcinomas are the predominant type and are significantly linked to high-risk HPV infections, particularly those caused by HPV types 16 and 18.
- 31 to 65 years held the maximum market share of 61.7%, the age range of 31 to 65 years includes a time when people’s rate of cumulative exposure to HPV has become high.
- Hospital segment by end user accounted for a revenue share of 39.7% in the global market at the end of 2022. Hospitals often have advanced diagnostic facilities and equipment, including imaging technologies, pathology laboratories, and access to specialized tests. These resources can support a comprehensive diagnostic workup and aid in reaching an accurate diagnosis.
- By region, North America is leading in the global cervical cancer screening market and is expected to continue to do so with a projected CAGR rate of 12.6% during the forecasted years.
“Increasing adoption of screening for the identification of cervical cancer, advancements in detection and management for improved outcomes are the key drivers of the cervical cancer screening market,” says an analyst at Future Market Insights (FMI).
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Market Competition:
In their pursuit of market expansion, key players in the cervical cancer screening industry are employing growth strategies such as acquisitions, mergers, collaborations, and partnerships. These companies prioritize enhancing sales efforts and leveraging new technologies to develop innovative products.
- According to the new In-Vitro Diagnostic Medical Devices Regulation (IVDR) in Germany, which replaces the old IVDD requirements, QIAGEN announced in October 2022 that their top in-vitro diagnostic (IVD) kit and its fully automated NeuMoDx platforms have been certified.
- Everlywell a company that operates in Austin considerably broadened its horizons in March 2021 with the aid of double acquisitions and a restructuring that involved the creation of a parent company, all directed by Everlywell CEO and co-founder Julia Cheek.
What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the Cervical Cancer Screening market in its latest study, presenting a historical demand assessment of 2012 to 2022 and projections for 2023 to 2033. The global Cervical Cancer Screening market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The research study is based on treatment– by test – [cervical cytology (Pap smear), human papillomavirus (HPV), and visual inspection with acetic acid (VIA)], by cancer– (squamous cell carcinomas and adenocarcinomas), by age group- (21 to 30 Years and 31 to 65 Years), by end-user- (hospitals, cancer research institutes, specialty clinics, and diagnostic laboratories) and across seven regions of the world.
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Key Players:
- Abbott Laboratories
- Becton, Dickinson, and Company
- F. Hoffmann-La Roche
- Hologic, Inc.
- QIAGEN
- Bio-Rad Laboratories, Inc.
- Thermo Fisher Scientific Inc.
- Promega Corporation
- Sysmex Inostics Inc.
- Danaher (Cepheid)
- FUJIREBIO
- Everlywell, Inc.
- Sansure Biotech Inc.
Key Segments Covered:
By Test:
- Cervical Cytology (Pap smear)
- Human Papillomavirus (HPV)
- Visual inspection with acetic acid (VIA)
By Cancer:
- Squamous Cell Carcinomas
- Adenocarcinomas
By Age Group:
- 21 to 30 Years
- 31 to 65 Years
By End User:
- Hospitals
- Cancer Research Institutes
- Specialty Clinics
- Diagnostic Laboratories
Table of Content (ToC):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Inclusion and Exclusions
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Test Innovation/ Development Trends
4. Value-Added Insights
4.1. Epidemiology of Cervical Cancer
4.2. Distribution Channel Analysis
4.3. Regulatory Scenario
5. Market Background
5.1. Macro-Economic Factors
5.1.1. Global GDP Growth Outlook
5.1.2. Global Healthcare Expenditure Outlook
5.1.3. Global Cancer Diagnostics Market Outlook
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About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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