Global Cervical Cancer Treatment Market size is projected to grow at 6.5% CAGR during the assessment period (2017 – 2023), says Market Research Future (MRFR). The cervical cancer treatment market is growing persistently growth attributes to 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. 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.
Cervical Cancer Treatment Market Segmentation
By Type, the global cervical cancer treatment market is segmented into Squamous Cell Carcinomas, Adenocarcinomas, Adenosquamous Carcinomas, and others.
By Treatment, the global cervical cancer treatment market is segmented into Surgery, Radiation Therapy, Hormone Therapy, Chemotherapy, Targeted Therapy, and others.
By End-User, the global cervical cancer treatment market is segmented into Cancer Care Centers, Diagnostic Centers, Pharmacies, and others.
Cervical Cancer Treatment Market Regional Insights
North America dominates the cervical cancer treatment market. The largest market share attributes to the rising prevalence of the disease and changing lifestyle trends among women populaces. Besides, technological advancements in the field of oncology and the development of new imaging devices drive the cervical cancer therapies and diagnostics market growth. Moreover, increasing awareness about the condition and availability of its treatments foster the growth of the regional market. The growing emphasis on women healthcare, technological advances, and healthcare expenditure supports market growth.
Europe stands second in the global cervical cancer treatment market. The market is driven by the presence of a large number of healthcare institutions and noteworthy professionals offering cancer treatment. Moreover, considerable investments in research and development activities in the U.K. and Germany boost the growth of the cervical cancer therapeutics market. Additionally, an increase in the use of new technological devices for the diagnosis and treatment of cancer substantiate regional market growth.
The Asia Pacific cervical cancer treatment market is emerging as the fastest-growing market. Factors such as the rising awareness about cervical cancer and increasing demand for cost-effective treatment solutions such as chemotherapy drive the growth of the market. Besides, the increasing prevalence of cancer, growing medical tourism, and emphasis on cancer detection in the region propel market growth.
Japan, China, and India are the largest growth contributors to the regional market. Additionally, the increasing government support for oncology research and women healthcare initiatives, alongside the availability of skilled healthcare research professionals, accelerate the growth of the market.
Cervical Cancer Treatment Market Competitive Landscape
Highly competitive, the global cervical cancer treatment market appears fragmented due to the presence of several well-established industry players. These players initiate strategies such as mergers & acquisitions, collaborations, expansion, and technology launch to gain a larger competitive advantage. Pharmaceutical companies invest substantially in R&D and clinical trials to develop effective drugs and therapeutics.
Drug companies collaborate with several partners from academia to the biotech industry who contribute specialized knowledge and cutting-edge technologies to accelerate pharmaceutical innovations and better understand the condition. These collaborations form one of the pillars of the company’s innovation strategy. Through partnerships, companies can leverage scientific know-how and use it for innovative medicines. Businesses can leverage creative impulses that advance medicine and benefit patients and partners.
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Cervical Cancer Treatment Market 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.
Cervical Cancer Treatment Industry/ Innovation/Related News:
Merck & Co., Inc. (North America), a leading multinational pharmaceutical company, announced that the US FDA has accepted two new supplemental Biologics License Applications (sBLAs) KEYTRUDA, Merck’s anti-PD-1 therapy. KEYTRUDA is indicated for the treatment of recurrent or metastatic cervical cancer with disease progression. This indication is approved under accelerated clearance based on tumor response rate and durability of response. Further, the continued approval for this indication may be contingent upon verification and description of clinical benefit in the confirmatory trials.
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