Diagnostic Testing Of STDs Market 9.6% CAGR Find Out Growth Potential Through Demand Forecast 2027 | CMI
Sexually Transmitted Diseases (STDs) are diseases that spread primarily through person-to-person sexual contact. Early identification or diagnosis of STDs and partner notification can help halt further transmission.
The global diagnostic testing of STDs market is estimated to account for US$ 290,128.2 Mn in terms of value by the end of 2027.
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Global Diagnostic Testing of STDs Market: Drivers
Increasing prevalence of STDs is expected to propel growth of the global diagnostic testing of STDs market over the forecast period. For instance, according to UNAIDS Global HIV & AIDS statistics — 2019 fact sheet, 37.9 million people were infected with HIV worldwide.
Moreover, increasing funding to treatment and management of STDs is also expected to aid in growth of the market. For instance, in February 2020, the U.S. government released its Fiscal Year 2021 Federal Budget proposal that includes US$ 716 million for the second year of the multiyear Ending the HIV Epidemic: A Plan for America (EHE) initiative to eliminate HIV in America.
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Asia Pacific held dominant position in the global diagnostic testing of STDs market in 2019, accounting for 36.3% share in terms of value, followed by North America and Europe, respectively
Figure 1: Global Diagnostic Testing of STDs Market Share (%) Value, By Region, 2019
Global Diagnostic Testing of STDs Market: Restraints
Stigma associated with voluntary / Client-Initiated Counselling and Testing (CICT) STD testing is expected to hinder growth of the market. Many refrain from voluntary / CICT STD testing at any of the labs or STD clinics to avoid uncomfortable situations or embarrassment in the society. This hinders the uptake of diagnostic tests or testing volume, thus restraining growth of the market.
Moreover, stringent regulatory scenario is also expected to limit the market growth. In Europe, diagnostic testing devices for STDs can be commercialized with a CE mark that can be obtained through compliance to the Directive of ‘In Vitro Diagnostic Medical Devices, 98/79/EC’ and CLIA waivers. Other countries accept the U.S. FDA approval or CE Mark.Global Diagnostic Testing of STDs Market: Opportunities
R&D in HIV self-testing kits is expected to offer lucrative growth opportunities for players in the global diagnostic testing of STDs market. For instance, in August 2019, researchers at the Center for Urban Health Solutions at St. Michael’s Hospital, Canada, started clinical trial on HIV self-testing kits with the aim of gaining federal approval for the first such device in Canada.
Moreover, increase in sexually transmitted infections is also expected to aid in growth of the market. For instance, there were over 126,700 chlamydia infections and 28,300 cases of gonorrhea diagnosed in 2017 in Canada, according to provincial and territorial government data compiled in 2019.
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The global diagnostic testing of STDs market was valued at US$ 140,028.5 Mn in 2019 and is forecast to reach a value of US$ 290,128.2 Mn by 2027 at a CAGR of 9.6% between 2020 and 2027.
Figure 2: Global Diagnostic Testing of STDs Market Value (US$ Mn), 2016 – 2027
Market Trends/Key Takeaways
The market in Canada is witnessing sale of unlicensed test kits majorly through online distribution channels. Clinical trials to boost device approvals are necessary to address the issue.
Major players in the market are focused on approval and launch of new products to expand their product portfolio. For instance, in November 2019, Chembio Diagnostics received World Health Organization approval for its Sure Check HIV Self-Test, a single-use immunochromatographic test for the detection of antibodies to HIV types 1 and 2.
Global Diagnostic Testing of STDs Market: Competitive Landscape
Major players operating in the global diagnostic testing of STDs market include, 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.
Global Diagnostic Testing of STDs Market: Key Developments
Major players in the market are focused on approval and launch of new products to expand their product portfolio. For instance, in April 2020, binx health received a second 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its binx io, a molecular point-of-care testing platform for the detection of chlamydia and gonorrhea.
Major players in the market are also focused on adopting collaboration strategies to expand their product portfolio. For instance, in February 2020, Pinpoint Science Inc. collaborated with Analog Devices, Inc. to advance the development and manufacture of novel nanosensor diagnostics for infectious diseases.
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