Syphilis Testing Market to Reach $1.9 Bn, Globally, by 2030 at 5.6% CAGR: Allied Market Research
Increase in the occurrence of sexually transmitted disease and technological advancements drive the growth of syphilis testing market.
PORTLAND, Ore., May 4, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Syphilis Testing Market by By Type (Primary & Secondary Syphilis, Others), by Location of Testing (Laboratory testing, Point of care (POC) testing): Global Opportunity Analysis and Industry Forecast, 2020-2030." According to the report, the global syphilis testing industry was pegged at $1.1 billion in 2020, and is expected to reach $1.9 billion by 2030, growing at a CAGR of 5.6% from 2021 to 2030.
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Drivers, restraints, and opportunities-
Increase in the occurrence of sexually transmitted disease including syphilis and technological advancements drive the growth of syphilis testing market. However, high proportion of health and economic burden for the developing countries due to Syphilis and avoidance and refraining from voluntary / CICT Syphilis testing hinder the uptake of diagnostic tests or testing volume, thus restraining the growth of the syphilis testing market. Moreover, rapid development in diagnostic kits, improved healthcare infrastructure, and availability of test kits are expected to create opportunities for market growth during the forecast period.
COVID-19 scenario-
- The outbreak of the Covid-19 pandemic negatively impacted the global syphilis testing market. This is owing to decrease in the number of patient visits to hospitals and clinics for testing, as a result of the suspension of various elective procedures and outpatient visits, which reduced the demand for syphilis tests.
- Between March 2019 and May 2020, the Syphilis testing rate fell by 64%.
The primary & secondary syphilis segment to dominate by 2030-
By type, the primary & secondary syphilis segment accounted for nearly two-thirds of the global syphilis testing market share in 2020, and is anticipated to retain its dominance throughout the forecast period. This is attributed to increase in syphilis infection rate, availability of screening test such as automated treponemal tests (TTs) that includes enzyme immune-assays (EIAs) under primary syphilis & RPR card, the serological test VDRL, and USR for secondary syphilis. Moreover, the same segment would showcase the fastest CAGR of 5.7% by 2030.
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The laboratory testing segment held the lion's share in 2020-
Based on location of testing, the laboratory testing segment held the lion's share in 2020, contributing to more than four-fifths of the global syphilis testing market, and is expected to continue its lead during the forecast period. However, thepoint of care (POC) testing segment is expected to witness the highest CAGR of 6.8% by 2030, due to increase in prevalence of syphilis infection, the laboratory test is cost efficient, convenient and confidential for use in hospitals & clinics.
North America, to lead the trail in terms of revenue-
By region, North America, garnered the major share in 2020, contributing to more than one-third of the global syphilis testing market and is expected to dominate the market during the forecast period. However, LAMEA region is expected grow at the fastest CAGR of 6.2% by 2030.
Leading market players-
- Becton Dickinson And Company
- Hologic, Inc.
- Cepheid Inc.
- DiaSorin
- Abbott Laboratories
- Bio-Rad Laboratories
- Beckman Coulter Inc
- F. Hoffmann-La Roche
- Affymetrix, Inc
- Siemens healthcare
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"We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market."
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