Market Trends of Global STD Diagnostics Industry
The Laboratory Testing Segment is Expected to Witness Growth During the Forecast Period
Laboratory tests are the most common form of diagnosis of sexually transmitted diseases (STDs) around the globe. As laboratory tests are reliable and provide high accuracy, their usage is high, and people tend to trust laboratory tests more. The increasing prevalence of STDs is one of the factors for market growth. According to the July 2023 report from the World Health Organization, an estimated 39.0 million people were living with HIV at the end of 2022, with two-thirds of them residing in the WHO African Region. Thus, such a significant prevalence of STDs is expected to increase the demand for lab testing of such diseases. Continuous product launches have occurred in the field of molecular diagnostics, which is one of the leading factors responsible for the growth of the laboratory testing segment. More product launches allow laboratories to install instruments or equipment as needed. For instance, in May 2022, Qiagen Inc. launched NeuMoDxHSV 1/2 Quant Assay for the quantification and differentiation of herpes simplex virus type 1 (HSV-1) DNA and herpes simplex virus type 2 (HSV-2) with approval from the European Commission. The emergence of this assay allows the company to expand its product portfolio in laboratory testing, which ultimately helps market growth owing to the innovative tests. Additionally, in February 2023, Thermo Fisher Scientific launched TaqPath PCR kits in India for the identification of hepatitis B virus (HBV), hepatitis C virus (HCV), human immunodeficiency virus (HIV), and genetic analysis (HLA B27). This launch is helping the company in broadening its diagnostics product market. Therefore, owing to the above-mentioned factors, such as the increasing prevalence of diseases and product launches, the laboratory testing segment is believed to witness high growth during the forecast period.
North America is Estimated to Hold Significant Share in the Market During the Forecast Period
The sexually transmitted diseases diagnostics market is significant in North America, owing to the high prevalence of STDs in the region. The United States is expected to be the largest market in North America due to the presence of many diagnostic companies and increasing government initiatives to create awareness about STD disease awareness. The rising prevalence of STDs in North America is expected to drive the market during the forecast period. For instance, according to the Centers for Disease Control and Prevention STI Surveillance Report 2022, more than 2.5 million cases of chlamydia, gonorrhea, and syphilis were reported in the United States in 2022. The combined rate of infections from chlamydia, gonorrhea, and syphilis in 2022 was 751.6 cases per 100,000 people in the United States. Hence, the significant prevalence of STDs in the United States is expected to drive the market in North America during the forecast period. Also, the increasing government initiatives to create awareness about STDs are expected to increase the demand for the diagnosis of STDs at early stages to get appropriate treatment, which will ultimately drive the market during the forecast period. For instance, according to the Centers for Disease Control database (CDC), July 2023, in FY 2022, the United States Congress allocated USD 1.34 billion to CDC to prevent and control HIV, viral hepatitis, STIs, TB, infectious diseases, and the opioid epidemic, and promote adolescent and school health. Hence, this budget increased compared to the amount allocated to CDC in FY 2021, which was USD 1.31 billion. Therefore, increasing government investments to prevent and control STDs is expected to drive the market during the forecast period. Also, the increasing number of product launches is expected to drive the market during the forecast period. For instance, in May 2022, Abbott received the US FDA approval for its Alinity m STI Assay. This multiplex test can detect and differentiate four common STDs simultaneously. Hence, such product launches are expected to drive the STD diagnostic market in North America during the forecast period. Therefore, owing to the above factors, such as the rising prevalence of STDs, increasing government initiatives, and increasing product launches, they are expected to drive the growth of the STD diagnostics market in North America, which is expected to surge during the forecast period.
