Rising Incidence of Cervical Cancer Dialing Growth for Cervical Cancer Diagnostic Tests Market, States Tmr

The competitive landscape of the global cervical cancer diagnostic tests market includes players such as F.Hoffmann-La Roche Ltd., Hologic Inc., Abbott Laboratories, Quest Diagnostics, and Becton, Dickinson & Company. Despite the highly fragmented nature of the market, top players dominate the market, observes Transparency Market Research. This is because top companies are involved in devising intense competitive strategies and ploughing back profits into research and development. 

“Strategic acquisitions are on the growth charts of top players in the global cervical cancer diagnostic tests market,” points out a TMR analyst. A case in point is Abbott Laboratories. In June 2014, Abbott Laboratories announced a factual agreement to acquire a Veropharm, which is a leading Russia-based pharmaceutical company. This acquisition would allow Abbott Laboratories to obtain Veropharm’s large portfolio of medicines, which are targeted towards its current pharmaceutical therapeutic areas.

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Lack of Knowledge about Women’s Diseases in Developing Countries Hampers Market Growth

A TMR analyst says, “Increasing rate of prevalence of cervical cancer is expected to fuel the growth of the global cervical cancer diagnostic tests market.” According to the data presented by the American Cancer Society, cervical cancer accounts for a large number of cancer deaths in women in the U.S. However, as per several studies carried out by the Centers for Disease Control and Prevention, new cases of cervical cancer and deaths due to cervical cancer have dropped significantly over the last couple of years.

High incidence of human papillomavirus (HPV) is likely to fuel the market’s growth in the coming years. An increasing awareness about cervical cancer screening is assisting in accelerating the growth of this market.

“Lack of proper primary healthcare infrastructure and outdated...