Pune, India, Aug. 24, 2022 (GLOBE NEWSWIRE) — The Canada sexually transmitted disease testing market size was valued at USD 205.9 million in 2021 and is expected to reach the valuation of USD 233.6 million in 2022. The market is expected to reach USD 310.5 million by 2029 with a CAGR of 4.1% during the forecast period. Rising cases of sexually transmitted diseases in Canada is expected to drive market growth. Increasing government initiatives to raise awareness regarding sexual health is anticipated to support market growth. Fortune Business Insights™ shares this information in its report titled “Canada Sexually Transmitted Disease Testing Market, 2022-2029.”
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Canada Sexually Transmitted Disease Testing Market Report Scope & Segmentation :
Report CoverageDetailsForecast Period2022 to 2029Forecast Period 2022 to 2029 CAGR4.1%2029 Value ProjectionUSD 310.5 MillionBase Year2021Market Size in 2021USD 205.9 MillionHistorical Data for2018 to 2020No. of Pages100
COVID-19 Impact:
Decline in Demand for Sexually Transmitted Disease Testing Kits Affected Market Growth Negatively
Outbreak of COVID-19 pandemic led to decrease in the cases of STDs. The market experienced a decline by -12.5% in 2020 due to decline in STDs cases. The market is expected to have a recovery due to rise in the untreated patient population of STDs.
Drivers and Restraints
Rising Cases of STDs to Surge Demand for Testing Devices
Upsurge in the cases of STDs amongst Canadian population is anticipated to drive the Canada sexually transmitted disease testing market growth. Increasing government initiatives to launch new diagnostics kits and tests are anticipated to propel market growth. In 2020, according to the Public Health Agency of Canada (PHAC), cases for syphilis were increased to 9,126 in 2020 compared to 6,281 in 2018. There is lack of awareness regarding safe sexual intercourses and unappropriated sharing of contaminated and unclean personal objects. This had led to increase in STDs and its diagnosis. Increasing government initiatives for spreading the awareness regarding sexual health and testing are predicted to propel market development.
However, reluctance toward sexually transmitted disease testing is anticipated to hinder market development. Fear of testing positive, the stigma of being judged, and privacy concerns are expected to restrict market growth.
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Laboratories to Gain Traction Owing to Rise of Patients in Clinical Laboratories
Based on setting, the market is segmented into laboratory testing and Point-of-Care (POC). Laboratory testing to have a maximum Canada sexually transmitted disease testing market share due to rise in patient footfall in clinical laboratories. Point-of-care is anticipated to have fastest CAGR due to the benefits offered by point-of-care.
Chlamydia to Dominate Owing to Rising Cases of the Disease
Based on application, the market is divided into chlamydia, syphilis, genital herpes, gonorrhea, human immunodeficiency virus, Human Papillomavirus (HPV), and others. Chlamydia is expected to dominate the segment during the forecast period due to increasing incidents of chlamydia. Rising number of patient admissions for chlamydia in hospitals is expected to drive the market growth.
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Segments
Reagents & Kits to Lead the Segment Due to Rising Incidents of STDs
On the basis of product, the market is segmented into instruments and reagents & kits. The reagents & kits segment is expected to hold a major part in the market due to rising instances of sexually transmitted diseases in Canada. The growth is also attributed to increasing use of reagents & kits for diagnosis.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.
Competitive Landscape
Key Market Players to Propel Market Progress Due to Advanced Logistics
Primary players operating in the market utilize expansion and strengthening strategies. Due to its strong distribution channels, F. Hoffmann-La Roche Ltd. extended its diagnostic capabilities by its global access program which has raised funds for malaria, AIDS, and tuberculosis, which is anticipated to boost market growth. Increasing strategic initiatives and launches will strengthen their distribution channels in the market.
Key Industry Development
December 2021- Becton, Dickinson and Company, commonly known as BD, announced its advanced version of BD COR system. The advancement is inclusion of new MX instruments which will help molecular testing for infectious diseases such as HPV infections, STDs, and others.
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List of Key Players Profiled in the Report
F. Hoffmann-La Roche Ltd (Switzerland)Abbott (U.S)BD (Becton, Dickinson and Company) (U.S)Hologic, Inc. (U.S)Cepheid (Danaher) (U.S.)Thermo Fisher Scientific Inc. (U.S)bioMérieux SA (France)Bio-Rad Laboratories, Inc. (U.S)DiaSorin S.p.A. (Italy)
Table Of Contents :
Introduction Research ScopeMarket SegmentationResearch MethodologyDefinitions and Assumptions Executive SummaryMarket Dynamics Market DriversMarket RestraintsMarket Opportunities Key Insights Incidence of Sexually Transmitted Diseases, CanadaKey Industry Developments – Mergers, Acquisitions & PartnershipsOverview of Canadian Guidelines on Sexually Transmitted InfectionsTechnological Advancements: Sexually Transmitted Disease TestingOverview: At-Home Sampling/Testing ScenarioNew Product LaunchesImpact of COVID-19 on the Market Number of Tests, by Infection TypesDistribution of Number of Tests, by Province/Territory Canada Sexually Transmitted Disease Testing Market Analysis, Insights and Forecast, 2018-2029 Market Analysis, Insights and Forecast – By Product Instruments Reagents & Kits Market Analysis, Insights and Forecast – By Setting Laboratory Testing Point-of-Care (POC) Market Analysis, Insights and Forecast – By Application Chlamydia Syphilis Genital Herpes Gonorrhea Human Immunodeficiency Virus Human Papillomavirus (HPV) Others Market Analysis, Insights and Forecast – By End-user Independent Clinical Laboratories Hospital Based Laboratories Homecare Settings Others Competitive Analysis Canada Market Share Analysis (2021)Company Profiles (Overview, Products, SWOT Analysis, Recent Developments, Strategies, Financials (Based on Availability)) F. Hoffmann-La Roche Ltd. Abbott BD (Becton, Dickinson and Company) Hologic, Inc. Cepheid (Danaher) Thermo Fisher Scientific Inc. bioMérieux SA Bio-Rad Laboratories, Inc. DiaSorin S.p.A.
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Frequently Ask Question :
How Much Canada Sexually Transmitted Disease Testing Market Worth ? Canada Sexually Transmitted Disease Testing Market is expected to reach USD 310.5 million by 2029 with a CAGR of 4.1% during the forecast period. What are the key factor driving the market ? Upsurge in the cases of STDs amongst Canadian population is anticipated to drive the Canada sexually transmitted disease testing market growth.
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Discovered on: 2022-08-24 00:00:00
Source: With 4.1% CAGR, Canada Sexually Transmitted Disease Testing
