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The global Cervical Cancer Diagnostic Tests Market is estimated to be valued at US$ 7.04 Bn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cervical cancer diagnostic tests help identify cervical precancerous conditions as well as detect early-stage cervical cancer. Cervical cancer screening tests include Pap smear tests, HPV tests, and Biopsies. These tests help detect pre-cancerous lesions like cervical intraepithelial neoplasia (CIN) that can be treated to prevent developing into cervical cancer. Regular cervical cancer screening is important as it can detect cancer at an early stage when treatment is most effective. Early detection of cervical cancer greatly improves survival rates.
Market key trends:
One of the major trends in the cervical cancer diagnostic tests market is the shift from traditional Pap smear tests to HPV co-testing and HPV primary screening. HPV testing offers several advantages over Pap smears such as higher sensitivity for detecting precancerous lesions. Liquid based cervical cancer screening tests are also gaining popularity over conventional Pap smears as they require less manual handling and produce more consistent results. Rapid HPV tests that can detect high-risk HPV strains in a single visit are also being developed to improve screening rates. Other key trends include development of biomarkers, molecular diagnostic tests, liquid biopsy tests and AI-based screening to further improve accuracy of cervical cancer detection.
Porter’s Analysis
Threat of new entrants: Low barriers to entry like specialized product development experience, intellectual property, and stringent FDA regulations make threat of new entrants low in this industry.
Bargaining power of buyers: The presence of many diagnostic test manufacturers gives buyers more bargaining power to negotiate on price and product offerings.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to specialized products and expertise required in supplying raw materials and components for cervical cancer diagnostic tests.
Threat of new substitutes: No major threat of new substitutes currently available for early detection of cervical cancer.
Competitive rivalry: Intense competition exists among existing players to gain more market share through product launches and innovations.
Key Takeaways
The global Cervical Cancer Diagnostic Tests market is expected to witness high growth, exhibiting CAGR of 6.3% over the forecast period, due to increasing awareness initiatives by governments and NGOs.
Regional analysis: North America is currently the largest market for cervical cancer diagnostic tests due to supportive reimbursement policies and high awareness. Asia Pacific is expected to grow at the fastest pace during the forecast period with China and India emerging as lucrative markets.
Key players operating in the cervical cancer diagnostic tests market are Guided Therapeutics, Inc., Abbott, Beckman Coulter, Inc., BD (Becton, Dickinson and Company), F. Hoffmann-La Roche Ltd, Bio Farma, Hologic, Inc., Oncgnostics GmbH, AstraZeneca, MobileODT, Agilent Technologies, Inc., Thermo Fisher Scientific Inc., DYSIS Medical Inc., The Cooper Companies Inc., Danaher, Quest Diagnostics, Arbor Vita Corporation, and Zilico.
