(PharmaNewsWire.Com, April 28, 2018 ) The global cervical cancer diagnostics and therapeutics market is expected to register a CAGR of 6.3% during the forecast period, 2018 to 2023. North America dominates the market, due to growing prevalence of cervical cancer diseases and rising awareness regarding cervical cancer in the region.
Favorable Governmental Initiatives toward Cervical Cancer Prevention The United States assists with coverage and reimbursement on Pap test screening. Federal law has been passed by the Affordable Care Act (ACA) to mandate the coverage of cervical cancer screening tests. It is also supported by self-insured plans. Medicaid, the most popular government insurance program covers screening for cervical cancers. Medicare, another widely used insurance covers Pap test, pelvic exam, and a clinical breast exam for cervical cancer screening every two years for Medicare beneficiaries. There are also support programs like National Breast and Cervical Cancer Early Detection Program (NBCCEDP), which provides cervical cancer screening to women without health insurance for free or at very little cost. According to the Federal Advisory Committee on Immunization Practices (ACIP) recommendations, the US government is trying to include HPV vaccine in the insurance plans and include it as a part of federal Vaccine for Children (VFC) entitlement program. All these governmental initiatives toward cervical cancer prevention have led to the growth of the market.Additionally, growing prevalence of cervical cancer, increasing awareness regarding early diagnosis, and strong R&D from key players for cervical cancer diagnosis and drugs are anticipated to drive the market of global cervical cancer diagnostics and therapeutics.
Economic Constraints in Many Countries to Adopt Regular Testing Procedures In middle-income and low-income developing countries, the existing programs are failing to create major impact. This failure is mostly attributed to the lack of or in many cases the absence of a healthcare system that is capable of providing the diagnostic and treatment services inseparable from screening. Many countries of Asia-Pacific and Africa lack a proper healthcare infrastructure to provide the basic medical amenities to people living in rural, and underdeveloped areas. For such remote and hard areas where there is also a social stigma to undergo medical tests, a government or NGO-funded screening program is hard to implement. There is also a definite lack of trained healthcare professionals and a lack of awareness among the people of this region to help achieve an effective implementation of screening programs. Thus, the economic and social constraint in this region will be a major restraint for the major market players trying to invest in this region, which might impede the growth of the global cervical cancer diagnostics and therapeutics market.
Asia-Pacific Expected to Grow Tremendously Asia-Pacific is expected to grow tremendously during the forecast period, owing to factors, such as high prevalence of cervical cancer. The high prevalence rate of cervical cancer among the population has attributed to factors, such as less awareness regarding sexual hygiene and precaution. High prevalence of cervical cancer, coupled with a greater government emphasis on screening and improvements in diagnosis of cervical cancer are anticipated to boost the market growth in Asia Pacific.
Key Developments in the Market September 2017: QIAGEN N.V., launched QIAsure Methylation Test, a novel CE-marked molecular diagnostic test for use in differentiating patient’s risk of developing cervical cancer.
May 2016: Advaxis Inc. and Bristol-Myers Squibb announced clinical collaboration to evaluate ADXS-DUAL, immunotherapy targeting HPV-associated cancers, and Bristol-Myers Squibb’s PD-1 immune checkpoint inhibitor, Opdivo (nivolumab), as a potential combination treatment for women with metastatic cervical cancer.
Reasons to Purchase this Report Current and future global cervical cancer diagnostics and therapeutics market outlook in the developed and emerging markets Analysis of various perspectives of the market with the help of Porter’s five forces analysis The segment that is expected to dominate the market Regions that are expected to witness the fastest growth during the forecast period Identify the latest developments, market shares, and strategies employed by the major market players 3 months analyst support, along with the Market Estimate sheet (in excel) Customization of the Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs. Companies Mentioned:
ABBOTT., ADVAXIS, INC., BECTON, DICKINSON, AND COMPANY, BRISTOL-MEYRS SQUIBB COMPANY, F. HOFFMANN-LA ROCHE LTD., GLAXOSMITHKLINE PLC, QIAGEN N.V, MERCK & CO., INC., PFIZER INC., QUEST DIAGNOSTICS INC.
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