The diagnostic testing of STDs market involves testing of various sexually transmitted diseases including HIV, chlamydia, syphilis, gonorrhea, and hepatitis B & C. STDs affect individuals of all socioeconomic groups and have serious medical and psychological consequences if left untreated. Diagnostic testing helps in early diagnosis and effective treatment of STDs. The conventional methods for STD diagnosis are microscopy, culture, immunological and molecular testing. Rapid diagnostic tests provide convenience and quick results over conventional tests.
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.
Key Takeaways
Key players operating in the diagnostic testing of STDs 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. These players are focusing on new product launches, mergers, acquisitions and partnerships for global expansion.
The key opportunities in the market include increasing awareness about STD diagnosis, rise in sexually active population, and technological advancements in rapid diagnostic tests. Emerging economies offer lucrative growth opportunities owing to rising awareness, increasing healthcare expenditure and large undiagnosed population.
The diagnostic testing of STDs market is witnessing global expansion due to initiatives by governments and NGOs for expanding STD screening programs and rising incidence of STDs worldwide.
Market drivers
The high growth of the diagnostic testing of STDs market can be attributed to the increasing prevalence of STDs globally. As per WHO, there are over 1 million new cases of STDs daily worldwide. Untreated STDs increase the risk of HIV transmission manifold. Rapid rise in cases of antibiotic-resistant STDs like gonorrhea is also driving the diagnostic testing market growth.
PEST Analysis
Political: Increasing awareness programs by governments worldwide about importance of testing for sexually transmitted diseases (STDs) and availability of subsidized tests is positively impacting the market.
Economic: Rising per capita healthcare spending across developing nations is fueling market growth. Also growing health insurance coverage is encouraging more people to opt for diagnostic tests.
Social: Wide acceptance and open discussion around STDs in public domain is reducing stigma associated with these diseases. This is encouraging more people to get regularly tested.
Technological: Development of rapid point-of-care tests and self-testing kits utilizing technologies like lateral flow assays is making STD diagnostic more convenient and accessible. Introduction of advanced molecular diagnostic tests is improving accuracy of results.
Geographical regions where market is concentrated in terms of value
North America accounts for the largest share of the global STD diagnostics testing market owing to presence of significant number of market players, high per capita healthcare spending, and growing emphasis on reproductive health of women in the region.
Fastest growing region for the market
Asia Pacific region is expected to witness highest growth during the forecast period driven by factors like rapid economic development, increasing healthcare awareness, expanding network of diagnostic laboratories, and rising prevalence of STDs in developing countries like India and China.
