How is the Demand for Human Papillomavirus Testing impacting the Medical Devices Industry?
According to the latest Arizton's market research report, the human papillomavirus testing market size to cross USD 1.1 million by 2025, growing at a CAGR of over 12% during the forecast period.
Human Papillomavirus Testing Market Growth
The overall growth of the global human papillomavirus testing market is mainly attributed to the increased procurement of latest-generation human papillomavirus testing analyzers and test kits. With the high prevalence of HPV-related infections and cancers specifically cervical cancer that needs accurate, sensitive, and effective diagnosis of HPV genotypes responsible for various cancers is fueling the growth of the market. The human papillomavirus testing market has witnessed significant growth both in terms of revenue and sales volume, especially due to the growing prevalence of cervical, vaginal, and other HPV associated cancer.
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Increasing Demand for HPV Co-Testing
FDA approved the use of human papillomavirus testing in association with routine cervical cytology as a screening technique for cervical cancer with the rising incidence of cervical cancer globally. Human papillomavirus co-testing offers increased sensitivity for detecting high-risk HPV and it also offers increased cost savings. With greater sensitivity, the combination pap and HPV testing are likely to become the preferred screening strategy in years to come. Compared to cytology test alone, human papillomavirus co-testing showed improved sensitivity (95% to 99%) for the detection of high-grade cervical dysplasia.
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Key Offerings:
- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by products, applications, end-user, and geography
- Competitive Landscape – 4 Key Company Profiles and 16 Other Prominent Vendors
Human Papillomavirus Testing Market – Geography Analysis
Human papillomavirus testing market in North America is expected to witness the highest incremental growth of around USD 351 million during the forecast period. The US is the major revenue contributor in the North American human papillomavirus testing market. North America is an attractive market for the HPV testing market due to high healthcare expenditure in the region. The demand for HPV testing in the region is driven by high awareness, the presence of a large pool of the patient population, a high penetration rate, better product availability, and extensive reach of innovative products. With the increasing cervical cancer patient volume, North America offers tremendous growth opportunities.
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Competition Overview
The global human papillomavirus testing market is highly competitive and characterized by the presence of many global, regional, and local players. Human papillomavirus testing vendors, especially global players, are increasingly focusing on pursuing inorganic growth strategies such as acquisitions and strategic partnerships to expand their presence, enhance product portfolio, and improve expertise in the market. The key players have also been actively focusing on the development and commercialization of technologically advanced human papillomavirus testing products. Human papillomavirus testing companies have a wide geographic footprint, diversified product portfolio, and a strong focus on innovation and research activities.
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