The cervical cancer treatment market is growing persistently. The market growth attributes to the increasing occurrences of cervical cancer and raising awareness about the availability of treatments among women. Besides, the growing demand for early diagnosis and treatment increases the cervical cancer treatment market size. Technological upgrades in medical science & biotechnology have improved the outlook of the market.
Moreover, rising advances in imaging techniques escalate the market growth to furthered height. According to Market Research Future (MRFR), the global cervical cancer treatment market is projected to grow at 6.5% CAGR during the assessment period (2017 – 2023). Environmental mutations and the adoption of an unhealthy lifestyle are the key risk factors leading to increasing the prevalence of cervical cancer.
Additionally, the increasing female geriatric population, exposure to harmful radiation, heredity reasons, and genetic mutations (abnormal changes) boost the growth of cervical cancer therapeutics market. Moreover, increasing government initiatives and funding support for cancer researches drive the growth of the cervical cancer drugs market.
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Unmet clinical needs and lack of absolute treatment procedures presage a large scope for market development. This further prompts pharmaceutical companies to invest increasingly in R&D to discover novel, more effective medicines. Conversely, high costs associated with diagnostics and treatment methods are the key factors expected to impede the growth of the market.
Also, bureaucracy and lengthy procedures for approvals of drugs and medical devices restrict market growth. Nevertheless, the rising penetration of insurance sectors would support market growth throughout the review period.
Major Players
Players leading the global cervical cancer treatment market include GlaxoSmithKline, Pfizer Inc., Bristol-Myers Squibb Company, Actavis Pharma Company, ALLERGAN, Eli Lilly and Company, Hetero, Alnylam Pharmaceuticals, Inc, Biocon, Genentech USA, and Novartis, among others.
Segmentation Analysis
The cervical cancer treatment market is segmented by Type, Treatment, and End-user.
- By Type, it is segmented into adenocarcinomas, adenosquamous carcinomas, and squamous cell carcinomas. Squamous cell carcinomas is expected to be the largest segment with more than 85% of cases caused by this strain of cancerous cells. Regular screening tests and Pap tests can drive the segment growth. On the other hand, adenocarcinomas can be accountable for a sizeable market share due to being prevalent among Hispanic and African-American races..
- By Treatment, it is segmented into targeted therapy, hormone therapy, radiation therapy, chemotherapy, surgery, and others.
- By End-user, it is segmented into pharmacies, cancer care centers, diagnostic centers, and others.
Regional Analysis
Asia Pacific (APAC), the Americas, the Middle East & Africa (MEA), and Europe are regions covered in the global cervical cancer treatment market report.
The Americas is expected to reign supreme till the end of the forecast period due to increased prevalence of cervical cancer and launch of effective drugs during chemotherapy. Targeted therapies and development of new imaging devices are other drivers of the regional market. North America can contribute to overall market revenue by rapid approval of new drugs, while South America can exhibit a decent growth rate during the forecast timespan by launching awareness programs for women. Experimental therapy by researchers of the University of Michigan which eliminated all lesions in the cervix can bound to be fruitful for the global cervical cancer treatment market.
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The Europe region is expected to be lucrative due to various hospitals and medical institutes offering affordable treatment options for cervical cancer. Investment in research and development in the U.K. and Germany and development of technologically advanced devices can augur well for the market.
The APAC cervical cancer treatment market is expected to boom due to rise in medical tourism and options for cost-effective treatment options in Japan, China, and India. Presence of skilled personnel, procurement of new imaging and diagnostic techniques, and high rate of cervical cancer are factors assumed to drive the market growth. Healthcare initiatives and support for oncology research by local governments can bode well for the overall market.
Lastly, the MEA region is driven by Saudi Arabia and the United Arab Emirates (UAE). Availability of technologically advanced techniques and development of cancer facilities for patients can augment the regional market size by 2023.
