The global market for cytology and HPV testing is likely to rise at a CAGR of 2.9% from 2016 to 2024. In 2015, the market was worth US$7.9 bn and is likely to touch a valuation of US$10.5 bn by the end of 2024. In the market for cytology testing, the dominant segment is likely to be of cytology testing services and in the segment of HPV testing, the leader will be HPV testing services. These segments are likely to maintain their reign over the market over the years ahead. Region-wise, the market is likely to be led by North America expanding at a CAGR of 3.3% over the course of the forecast period.
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The global market for cytology and HPV testing is presented with a host of sustained growth opportunities arising mainly from several emerging economies, where factors such as rapidly developing healthcare infrastructure and a strong local manufacturing base serve as major advantages. In addition to this, these markets still have immense scope for growth, unlike the near-saturated markets in developed countries.
Cancer to Turn out to be Crucial Growth Factor
The taking off frequency of HPV diseases and cervical cancer is likely to be credited to a few hazard factors, including the debilitating of the immune system because of ailment and a high number of sexual accomplices. Innovative progressions in healthcare and developing mindfulness among the people across the globe are likewise promising individuals to settle on high-precision demonstrative tests. Driven by these variables, the HPV testing market is relied upon to develop at a speedy rate over the years ahead. The growing significance of early diagnosis and detection options is also likely to play a key role in the growth of the market over the coming years.
Dearth of Awareness Might Act as Road Block Later
The developing frequency of cervical growth and also HPV diseases is the absolute most vital factor driving the interest for cytology and HPV testing. The quantity of new instances of cervical disease and rising number of deaths coming about because of this interminable condition have impelled patients to decide on early recognition and analysis techniques. The ascent in mindfulness about the business accessibility of screening tests has driven the reception of cytology testing. The high frequency rate of HPV contaminations and developing knowledge in regards to the risk that these diseases posture to the invulnerable framework have energized HPV testing and Pap spread screening.