ALBANY, New York, June 15, 2017 /PRNewswire/ --
The global market for Chlamydia Infection Diagnostics and Therapeutics has an essentially consolidated competitive landscape, with the leading five vendors in the diagnostics segment cumulatively holding a more than 58% of the overall market while companies in the therapeutics segment accounting for a nearly 24% of the market in 2016, observes Transparency Market Research (TMR) in a recent report. Competitive rivalry in considerably low in the market despite the presence of a large number of players, especially on a global front.
Leading players in the market benefit from products that are approved by key government agencies. Expansion of operations across high growth potential regional markets, product launches, collaborative agreements, and acquisitions are some of the key growth strategies adopted by global players to strengthen and secure their position in the market.
Transparency Market Research estimates that the global chlamydia infection diagnostics and therapeutics was valued at US$1,195.5 mn in 2016 and will expand at a CAGR of 6.0% from 2017 to 2025 to reach US$2,002.2 mn in 2025.
Nucleic Acid Amplification Tests to Continue Acquiring Massive Share in Diagnostics Segment
In terms of key diagnostics available in the global chlamydia infection market, the segment of nucleic acid amplification tests (NAAT) held the dominant share of over 69.8% in 2016. According to Center for Disease Control and Prevention, NAATs are the most sensitive tests for diagnosis of chlamydia infection and are FDA-cleared. In terms of geography, the North America market accounted for a massive 55.5% of the global chlamydia infection diagnostics market and over 44.5% of the chlamydia infection therapeutics market in 2016. Europe held the second highest share of the global chlamydia infection diagnostics and therapeutics market in 2016 and is expected to remain a key contributor to the overall development of the market in the next few years.
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Rising Awareness and Increased Availability of Testing and Treatment Products to Drive Market
Some of the key drivers of the global chlamydia infection diagnostics and therapeutics market are the vast rise in academic research, increase in strategic collaborations between global market leaders and leading research institutes, and the increasing prevalence and incidence rate of chlamydia infection globally. According Center for Disease Control and Prevention, in 2015, total number of chlamydia infection cases reported to CDC was 1,526,658 the U.S. Numbers are also rising at a staggering rate across other parts of the globe. The rising demand for rapid and effective diagnostic tests and therapeutics to treat this rapidly rising patient pool is significantly contributing to the growth of the chlamydia infection diagnostics and therapeutics market globally.
Availability of well-defined reimbursement policies from public and private health insurance firms and high awareness among young people in developed regions such as North America and Europe is also a key factor boosting the market for chlamydia infection diagnostics and therapeutics. Growth of the market is also attributed to the rising commercialization of advanced products by top market players
Social Stigma Associated with Voluntary Screening of Chlamydia Infections to Hinder Market Growth
The global chlamydia infection diagnostics and therapeutics market is negatively affected by the low awareness about chlamydia diagnostic tests in low- and middle-income countries, and the stigma associated with voluntary screening for chlamydia; the negative societal impact may hamper the growth of the market. The most susceptible population for chlamydia infection is between ages of 16 to 25, this age group has fear of social embarrassment which leads to untreated or undiagnosed chlamydia infections.
This review of the global chlamydia infection diagnostics and therapeutics market is based on a recent market research report published by Transparency Market Research, titled "Chlamydia Infection Diagnostics and Therapeutics Market (Product Type - Diagnostics (Nucleic Acid Amplification Tests (NAATs) and Direct Fluorescent Tests) and Therapeutics (Macrolides, Quinolones, Sulfonamides, Tetracycline, and Aminopenicillins); End Users - Hospitals, Specialty Clinics, Diagnostic Centers Therapeutics, Hospital Pharmacies, Drugstores, Retail Pharmacies, and Online Pharmacies) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025."
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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