Implementation of Screening Programs for Diagnosis of Sexually Transmitted Diseases to Promote Uptake of Diagnostic Testing
According to the World Health Organization (WHO), more than 1 mn sexually transmitted infections (STIs) are acquired every day across the globe. Most of them go untreated as a result of lack of diagnosis. Undiagnosed STDs can have critical consequences on maternal, reproductive and newborn health. A large diseased population can challenge the socioeconomic development of a country. Therefore, governments of various countries are encouraging the use of diagnostic testing of STDs to spread awareness amongst the common mass. This is the key factor driving the global diagnostic testing of STDs market.
According to a study by Transparency Market Research (TMR), the global diagnostic testing of STDs market was valued at US$65.9 bn in 2012 and is anticipated to reach US$108.5 bn by the end of 2019 at a CAGR of 8.10% between 2013 and 2019.
Why are governments taking a keen interest in promoting the growth of the diagnostic testing of STDs market?
Given the huge public health burden that STDs can have, governments across the world have implemented national screening programs that deploy various equipment and machines for the diagnosis of STDs. These programs have encouraged people to undergo diagnosis tests at more affordable costs, thereby increasing the popularity of diagnostic testing of STDs. This has, in turn, boosted the growth of the global diagnostic testing of STDs market.
Another factor that is driving the growth of the global diagnostic testing of STDs is the favorable reimbursement offered by insurers for STDs testing. The coverage provided by health insurance has stimulated the interest of people in undergoing diagnosis test.
Is social stigma besetting the growth of the global diagnostic testing of STDs market?
Those afflicted with STDs commonly tend to shy away from proper testing facilities due to the social stigma associated with the diseases. As a result, a lot less patients actually get diagnosed with STDs in comparison to the number of patients possibly affected by them. This factor is likely to deter the growth of the global diagnostic testing of STDs market.
Other than this, the screening centers are often operated in urban or semi urban areas. This makes these centers out of reach for a large number of STD infected patients who are living in remote locations or rural areas. This, therefore, restrains the growth of the global diagnostic testing of STDs market.
How lucrative is the global diagnostic testing of STDs market for new entrants?
A growing prevalence of STDs has propelled the demand for efficient diagnostics testing of STDs. The presence of large pool of patients along with immense untapped opportunities in regions such as Asia Pacific and MEA is attracting many vendors to cater the market for diagnostic testing of STDs. Moreover, rising awareness for STD diagnosis in developed nations of North America and Europe is fuelling the growth of the global diagnostic testing of STDs market.
However, the stringent regulatory compliance requirements associated with diagnostic testing of STDs are limiting the entry of new vendors. Furthermore, the high investment of capital of research hampers the entry of new players in the global diagnostic testing of STDs market.