Asia Pacific Cervical Cancer Diagnostic Testing Market is expected to reach US$ 1,351.28 million by 2028

HPV Testing Segment is Expected to be Fastest Growing During Forecast Period for APAC Region

According to The Insight Partners market research study on “APAC Cervical Cancer Diagnostic Testing Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Service Provider” is expected to reach US$ 1,351.28 million by 2028 from US$ 936.22 million in 2021. The market is estimated to grow at a CAGR of 5.4% from 2021 to 2028. The report provides trends prevailing in the APAC cervical cancer diagnostic testing market along with the drivers and restraints pertaining to the market growth. Growing opportunities in emerging countries and rising development and launch of innovative products are the major factor driving the growth of the APAC cervical cancer diagnostic testing market. However, lack of awareness about the diagnosis and treatment methods hinders the growth of APAC cervical cancer diagnostic testing market.   

In case of COVID-19, APAC is highly affected specially India. APAC countries are expecting to witness massive challenges due to increasing COVID-19. In light of the current economic scenario, healthcare companies have been badly impacted as a result of disease outbreaks. The outbreak has severely affected the tourism industry and imposed supply chain disruptions; moreover, low-income countries face additional challenges due to the shortage of healthcare infrastructure. Restrictive measures have been put forth in South Korea, Malaysia, Singapore, the Philippines, and India to prevent disease transmission. All these factors will impact the cervical cancer diagnostic test market for a short period of time.  The government and population in the region are more focused on the treatment of COVID 19. The hospitals, and surgical centers are open for only emergency services. China is specifically facing issues that this epidemic has caused, leading to disruption of the supply chain, projected decreases in revenue and sales within all industries, as well as the concerns of health within the production factories and other public spaces. As the medical tourism is declined in response to the pandemic to the regions like South Korea and Japan which has negative impact on the country’s revenues. Thus, it is expected to have a negative impact on the cervical cancer diagnostic test market.

The APAC cervical cancer diagnostic testing market has been segmented based on type, service provider, and country. Based on type, the market has been segmented into PAP testing, HPV testing, colposcopy, cervical biopsies, cystoscopy, and others. The PAP testing segment dominated the market in 2020 and HPV testing segment is expected to be fastest growing during forecast period. Based on service provider, the market has been segmented into diagnostics and research laboratories, hospitals and clinics, specialty clinics, and home care services. The diagnostics and research laboratories segment dominated the market in 2020 and same segment is expected to be fastest growing during forecast period.  Based on country, the market has been segmented into China, India, Japan, South Korea, Australia, and rest of APAC.  

Abbott; BD; Cooper Companies, Inc.; F. Hoffmann-La Roche Ltd.; Femasys Inc.; Guided Therapeutics, Inc; Hologic, Inc.; QIAGEN; and Quest Diagnostics Incorporated are among the leading companies in the APAC cervical cancer diagnostic testing market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Femasys Inc. planned to raise $40 million in an initial public stock offering. As a part of Plans filed May 14 with the Securities and Exchange Commission that it is feasible to become a leading company in the women’s healthcare space with products to mark multi-billion dollar global opportunities.

APAC Cervical Cancer Diagnostic Testing Market, By Country, 2020 and 2028 (%)

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