DIAGNOSTIC TESTING OF STDS MARKET ANALYSIS

Diagnostic Testing Of Stds MarketSize and Trends

The global diagnostic testing of STDs market is estimated to be valued at US$ 10.4 billion in 2023 and is expected to exhibit a CAGR of 9.6 % during the forecast period (2023-2030).

Figure 1. Global Diagnostic Testing of STDs Market Share (%), By Test Type, 2023

Global Diagnostic Testing of STDs Market - Drivers

Increasing launch of new products in STD testing

Increasing launched of products in the field of STD testing is expected to drive the global diagnostic testing of STDs market growth over the forecast period. For instance, on January 5, 2023, Molbio Diagnostics Pvt. Ltd., an India-based molecular diagnostics company, announced it has launched Truenat HSV 1/2 for testing Herpes Simplex Virus. The test is approved by The Central Drugs Standard Control Organization (CDSCO) and can provide sample-to-test results in an hour. Truenat is a point-of-care portable, battery-operated, IoT-enabled, real-time PCR platform with a sample-to-result time of less than 1 hour. According to the company, the platform can test over 40 diseases, including COVID-19, TB, hepatitis, HIV, HPV, dengue, and malaria.

Increasing strategies like mergers and acquisitions by key market players

Increasing strategies like mergers and acquisitions by key market players is expected to drive the global diagnostic testing of STDs market growth. For instance, on March 15, 2021, F. Hoffmann- La Roche acquired GenMark Diagnostics Inc., a U.S. based molecular diagnostics company, for US$ 24.05 per share on a fully diluted basis. GenMark Diagnostics Inc., provides molecular diagnostic tests that are designed to detect multiple pathogens from a single patient sample GenMark’s syndromic panel testing portfolio will complement F. Hoffmann-La Roche current molecular diagnostics portfolio and the F. Hoffmann-La Roche, global network will enable expanded reach for GenMark Diagnostics Inc. products. GenMark Diagnostics, Inc., has proprietary technologies, such as ePlex and eSensor XT-8, that can be utilized by F. Hoffmann-La Roche Ltd. to develop infectious disease tests including bloodstream infections.

Figure 2. Global Diagnostic Testing of STDs Market Share (%), By Region, 2023

Diagnostic Testing of STDs Market Report Coverage

Global Diagnostic Testing of STDs Market Segmentation:

The global diagnostic testing of STDs market is segmented into test type and region.

Based on test type, the global diagnostic testing of STDs market is segmented into chlamydia, gonorrhea, syphilis, HIV, HPV+pap smear, HSV, and chancroid. Out of which, the chlamydia segment is expected to dominate the market due to the increasing testing of chlamydia infection.

Based on region, the global diagnostic testing of STDs market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Among these, North America is expected to dominate the market over the forecast period due to increasing launches of test kits for STDs in this region.