PORTLAND, Oregon, November 10, 2014 /PRNewswire/ --
A new report by Allied Market Research titled, "Global Market for Diagnostic Testing of Sexually Transmitted Diseases (STDs) (Disease Types, Testing Volume, Testing Devices and Geography) - Industry Analysis and Forecast, 2013 - 2020", considers commercial aspects of the diagnostic testing of sexually transmitted diseases. Based on key trends tracked, it is anticipated that the diagnostic testing market for sexually transmitted diseases is forecast to reach $167.4 billion by 2020, registering a CAGR of 8.5% during 2014-2020. The growth in the market is chiefly attributed to the high growth in HIV and HPV testing, especially in Asia Pacific and African regions along with complimenting growth rate of the European market.
To view the report, visit the website at http://www.alliedmarketresearch.com/diagnostic-testing-stds-market
Sexually transmitted diseases or venereal diseases (VDs) are one of the most critical health challenges facing the world today. Rising rate of incidence of fatal STDs, corresponding high-economic burden and consequent implementation of Provider-Initiated Counselling and Testing (PICT) and Client-Initiated Counselling and Testing (CICT) are factors that drive the growth of the diagnostic testing market for STDs. Clinical manifestations of STD, for example, Chlamydia range from Urethritis, Epididymitis, Orchitis, Infertility in men to Cervicitis, Endometritis, Salpingitis, PID, infertility and Perihepatitis in women; and untreated STDs that display such manifestations are often fatal. The risk of transmission of Chlamydia infection from an infected male to a female partner is estimated to be about 40% and from an infected female to male is about 30%. Such high rate of transmission, coupled with high rate of undiagnosed and untreated cases (about 85% of women and 40% of men are asymptomatic), renders huge economic burden on healthcare departments across all countries. To ameliorate such cases, healthcare departments across the world, have initiated national screening and also incentivized voluntary screening. Overall, the afore-mentioned factors result in high testing volume for Chlamydia, which contributes to a larger market share in terms of value. HIV, is incurable and prognosis of HIV leads to numerous infections that result in fatality. HIV infected patients also suffer from other co-infections; HIV and Syphilis have a high co-infection rate of about 25%. Akin to national and voluntary screening implemented for Chlamydia, many healthcare departments implemented CICT and PICT screening for HIV too. Such screening programs are expected to increase HIV testing volumes, which is estimated to reach 2.1 billion by 2020.
Laboratory testing of STDs is significant, despite of the presence of many point-of-care (PoC) testing kits available. Some of the STDs are not diagnosed with point of care methods. For instance, HSV (Herpes Simplex Virus), low-risk HPV (Human Papilloma Virus) and Chancroid that manifest as 'warts' on the patient's skin, require physical examination by the laboratory experts. Also, many of the PoC devices are not yet approved by the regulatory health authorities such as USFDA, owing to deviations in the sensitivity and specificity criteria. For these reasons, laboratory testing is considered to be most reliable and globally accepted method for STD testing; therefore, garners a comparatively larger market share than POC testing.
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The report also provides market size and forecast for testing devices used for carrying such tests. The market for STD testing devices was valued at $7.7 billion in 2013 with laboratory testing devices accounted for the most of the market and PoC devices shall grow at fastest rate.
Key findings of the study:
- Global market for diagnostic testing of STDs is gaining traction with growth in HIV and HPV screening and laboratory testing
- HIV testing market segment would grow at a CAGR of 10.9% during the forecast period
- Europe would be one of the lucrative markets in terms of growth. The European STDs testing market would reach $26.8 billion by 2020, with highest CAGR of 13.5% (as compared to other regional markets)
- HPV testing volume and revenue will grow at much faster rate owing to higher incidences in Asia Pacific region
As elaborated earlier, many healthcare institutions provide diagnostic testing services for STDs, such as specialized STD clinics, Genito-Urinary Medicine (GUM) clinics along with general hospitals, government laboratories and private diagnostic centres. The afore-mentioned thus constitute key market participants of the global diagnostic testing of STDs market. Along with the testing service providers, many companies provide devices such as laboratory instruments and POC testing kits/devices for VDs. Companies profiled in this report are Roche Holdings AG, BioMerieux, Hologic Inc., Becton Dickinson & Company, Cepheid Inc., Danaher Corporation, Affymetrix, Alere Inc., Abbott Laboratories, Bio-Rad Laboratories Inc., and DiaSorin.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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SOURCE Allied Market Research