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Sexually transmitted diseases (STDs) infections have become increasingly common in recent times. Diagnostic tests play a key role in detecting the presence of bacteria, parasites or viruses that cause these infections. The most commonly used diagnostic tests include blood tests, urine tests and swab tests of the genital area. In particular, nucleic acid amplification tests (NAATs) have emerged as the most sensitive available technology for STD testing as they can detect genetic material from bacteria or viruses even before symptoms appear. The growing utilization of highly accurate NAATs is expected to positively impact the global diagnostic testing of STDs market.
The global Diagnostic Testing of STDs Market is estimated to be valued at US$ 10.04 billion in 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growing awareness about sexual health and responsible sexual behavior especially among millennials and Generation Z has boosted demand for regular STD screening. As the social stigma around STDs declines, more individuals are willing to get tested. The rising openness to discuss issues related to sexuality has also encouraged public health organizations to intensify awareness campaigns about benefits of early STD diagnosis. Expanding access to confidential and affordable diagnostic testing through online platforms, mobile clinics etc. is another key trend steering growth of the diagnostic testing of STDs market.
Porter’s Analysis
Threat of new entrants: The diagnostic testing of STDs market requires large investments in R&D for developing new diagnostic tests. This acts as a deterrent for new players to enter the market.
Bargaining power of buyers: The bargaining power of buyers is moderate as testing for STDs is a necessity. However, buyers can negotiate on price points based on test volumes.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the presence of multiple reagent and consumables suppliers in the market. This allows buyers to switch between different suppliers.
Threat of new substitutes: There are limited substitutes for laboratory-based diagnostic testing. However, point-of-care tests are emerging as substitutes.
Competitive rivalry: The market witnesses high competition owing to the presence of global as well as regional players. Players focus on R&D to develop innovative tests.
Key Takeaways
The global diagnostic testing of STDs market is expected to witness high growth.
Regional analysis: North America currently has the largest share in the diagnostic testing of STDs market. This is attributed to large healthcare expenditures, wide availability of advanced diagnostic tests, and significant disease prevalence in the region. Asia Pacific is expected to witness rapid growth during the forecast period supported by rising healthcare investments, increasing penetration of healthcare insurance, and growing awareness related to STDs.
Key players: Key players operating in the diagnostic testing of STDs market are Vela Diagnostics USA Inc., Roche Holdings AG, Alere, Inc., Becton Dickinson & Company, bioMerieux, Danaher Corporation (Beckman Coulter), Hologic, Inc., binx health, Chembio Diagnostics, Pinpoint Science Inc., and bioLytical Laboratories. Key players are focusing on new product approvals and mergers & acquisitions to strengthen their market position.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
