Global STD diagnostics market is expected to reach USD 200.9 billion by 2022 according to a new study by Grand View Research Inc. The rising geriatric population base, increasing global incidence of various STIs, rise in sedentary lifestyle adoption levels, and rising awareness & patient education are the driving forces for the STD diagnostics market growth over the forecast period.
Increasing number of people having multiple partners and low levels of infection awareness levels are the major drivers fueling industrial growth. Increasing demand for rapid and accurate diagnostic tests and presence of favorable government initiatives for STD testing in developing countries such as Brazil, India, and China are further estimated to boost market growth.
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Further key findings from the study suggest:
- Chlamydia testing accounted for over 34% of the market in 2014. Chlamydia testing for sexually active women aged below 25 years is strictly recommended by the U.S Preventive Services Task Force (PSTF). Syphilis testing is estimated to witness lucrative growth over the forecast period. It is anticipated to grow at a CAGR of 10% owing to increasing prevalence of syphilis infection globally.
- On the basis of test location, laboratory testing held the largest market share of over 63% in 2014 owing to the availability of cost effective diagnostic tests used for multiple STIs at a single location such as public health labs. Point of care on the other hand is anticipated to be the fastest growing segment over the forecast period owing to the owing to the introduction of CLIA waived tests
- Laboratory testing devices dominated the market in 2014 with revenue generation of over 67.0 billion. Immunochromatographic assays were most preferred devices for STD diagnosis in laboratory with revenue share of over 26%. Increasing technological advancements are estimated to enhance usage rates of thermal cyclers over the forecast period.
- Portable/bench top or rapid diagnostic kits are estimated to gain demand over the forecast period owing to features such as user-friendliness, increasing awareness pertaining to self testing, and fast results.
- North America held the largest share of the STD diagnostics market with revenue generation of over 32 billion in 2014. Introduction of technologically advanced diagnostics techniques such as immunochromatographic device by Chembio Diagnostics Systems Inc. is the major factor attributing for its largest market share.
- Asia Pacific region is estimated to witness significant growth over the forecast period owing to the presence of high amount of target population, rising awareness levels for STIs, and increasing government initiatives and rise in disposable income expenditure levels. Asia Pacific is expected to show double digit CAGR growth over the forecast period.
- Major companies of the STD diagnostics industry include Roche Holdings AG, Abbott Laboratories, Becton Dickinson and Company, Hologic Inc., Danaher Corporation, Affymetrix, BioMerieux, Cepheid Inc., Alere Inc., DiaSorin, and Orasure
- Licensing and partnership deal making activities in the molecular diagnostics sector are growing significantly in terms of value. New entrants such as life science research groups, financial investors, clinical laboratories, and medical technology players drive up the values.
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About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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