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The global diagnostic testing of sexually transmitted diseases (STDs) market has witnessed significant growth in recent years owing to the rising prevalence of STDs such as HIV, Syphilis, Chlamydia, Gonorrhea, and others. Factors such as increasing sexual activities among millennial population, growing awareness regarding risks of unprotected sex, and rising healthcare expenditures are contributing to the growth of this market. STD diagnostic tests help detect the presence of causative pathogens in clinical specimens such as blood, urine, and swab samples. Common diagnostic methods include laboratory tests, point-of-care tests, and risk-based screening. Laboratory diagnostic tests offer high sensitivity and specificity for detection of STDs via methods like nucleic acid amplification tests (NAAT), enzyme immunoassays (EIA), and rapid plasma reagin (RPR) tests. On the other hand, point-of-care testing deliver quick results outside a laboratory setting. The global diagnostic testing of STDs Market is estimated to be valued at US$ 10.4 Bn in 2024 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: One of the key trends in the diagnostic testing of STDs market is the introduction of novel rapid point-of-care tests. Growing demand for diagnostic tests that offer prompt results is prompting manufacturers to develop innovative rapid testing methods. For instance, companies are focusing on improving ELISA and lateral flow immunoassays to provide results within 20 minutes. Rapid POC STD tests are user-friendly and help in timely identification and treatment of infections. Their rising adoption, especially in decentralized healthcare settings, is expected to support the market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate due to the presence of large established players dominating the diagnostic testing market. However, new technologies and products can disrupt the market.
Bargaining power of buyers: The bargaining power of buyers is high due to availability of different options for diagnostic testing of STDs. Buyers can negotiate on price and quality.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as they are dependent on few key suppliers for diagnostic kits and equipment. Suppliers may face pressure on pricing.
Threat of new substitutes: The threat of substitutes is low as there are limited product substitutes for diagnostic testing of STDs. However, alternative treatment options can impact the market.
Competitive rivalry: The competitive rivalry in the market is high due to presence of global and regional players offering diversified diagnostic testing solutions. Players compete based on pricing, innovation, and service.
Key Takeaways
The global Diagnostic Testing of STDs market is expected to witness high growth.
Regional analysis: North America holds the major share of the diagnostic testing of STDs market due to presence of key players and advanced healthcare facilities in the region. However, Asia Pacific is expected grow at a high CAGR during the forecast period supported by increasing healthcare investments and rising awareness regarding STDs in countries like China, India.
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. Players are focusing on new product launches and partnerships for business expansion.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
