Syphilis Testing Market by Technology and Geography - Forecast and Analysis 2020-2024
- Published: Apr 2020
- Pages: 120
- SKU: IRTNTR40538
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The syphilis testing market size has the potential to grow by USD 0.42 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by technology (conventional testing and POC testing) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Abbott Laboratories, Becton, Dickinson and Co., Bio-Rad Laboratories Inc., Danaher Corp., DRG International Inc, F. Hoffmann-La Roche AG, Hologic Inc., Omega Diagnostics Group Plc, Siemens Healthineers AG, and Thermo Fisher Scientific Inc.
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Market Competitive Analysis
The market is fragmented. The key vendors have strong financial and R&D resources, superior manufacturing capabilities, and extensive distribution networks. Hence, new entrants face intense competition from the existing vendors and find it a challenge to sustain in the market. Also, leading vendors acquire smaller vendors to add new products to their portfolios and expand into untapped markets. F. Hoffmann-La Roche AG, Hologic Inc., Omega Diagnostics Group Plc, Siemens Healthineers AG, and Thermo Fisher Scientific Inc. are some of the major market participants. Although the increasing prevalence of syphilis will offer immense growth opportunities, the high cost of syphilis diagnostic tests will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this syphilis testing market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this syphilis testing market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- Abbott Laboratories
- Becton, Dickinson and Co.
- Bio-Rad Laboratories Inc.
- Danaher Corp.
- DRG International Inc
- F. Hoffmann-La Roche AG
- Hologic Inc.
- Omega Diagnostics Group Plc
- Siemens Healthineers AG
- Thermo Fisher Scientific Inc.
Syphilis Testing Market: Segmentation by Region
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APAC will offer several growth opportunities to market vendors during the forecast period. The high prevalence of STDs such as syphilis, large patient population base, the growing interest of international and domestic players to set up manufacturing facilities, and increase in R&D activities will significantly influence the growth of the syphilis testing market share in this region.
40% of the market’s growth will originate from APAC during the forecast period. China is one of the key markets for syphilis testing in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Syphilis Testing Market: Segmentation by Technology
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Conventional tests are highly preferred as they have an established presence in the market, and they provide precise results. Furthermore, many POC devices are yet to be approved by the regulatory health authorities, thus leading to increased demand for conventional tests, especially in the developing regions. The lack of availability, affordability, and awareness about the approved POC testing devices will also drive market growth in the conventional testing segment.
Market growth in this segment will be faster than the growth of the market in the POC testing segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the syphilis testing market size.
Syphilis Testing Market: Key Drivers and Trends
Syphilis is a genital ulcerative disease caused by the bacterium T. pallidum and has mild initial symptoms like a painless sore or no symptoms at all. As the disease progresses, severe rashes appear, and the disease eventually causes blindness or damage to internal organs and death. Untreated syphilis causes serious health problems, such as making the affected person vulnerable to HIV infection or even death. The increasing incidence and prevalence of syphilis will drive the use of syphilis tests, accelerating the growth of the global syphilis testing market.
The high incidence of syphilis has had a direct impact on the expansion of the global syphilis testing market. The increase in premarital screening for syphilis is one of the key syphilis testing market trends, which will further boost the market growth. Premarital testing programs aim to drive awareness about the benefits of premarital screening. This in turn, provides couples with accurate and unbiased information about STDs, STD testing, STD treatment, and STD testing centers. Growing awareness through these programs has led to an increased emphasis on premarital screening. As a result of these factors, the market will register a CAGR of over 2% during the forecast period.
Syphilis Testing Market: Key Highlights of the Report for the Forecast Period 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive syphilis testing market growth during the next five years
- Precise estimation of the syphilis testing market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the syphilis testing industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of syphilis testing market vendors
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Increase in prevalence of syphilis
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