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High Growth in Emerging Countries Predicted to Drive the Global Syphilis Testing Market until 2019, Says TechnavioAccording to the latest market research report by Technavio, the global syphilis testing market is expected to reach USD 1.1 billion by 2019. In this report, Technavio covers the present scenario and growth prospects of the global syphilis testing market for 2015-2019. The market size has been calculated based on revenues generated from the sales of following product categories:
"Many companies are expanding their businesses in emerging countries like China, Singapore, and Thailand, and countries in Latin America because these economies exhibit immense growth potential. Implementation of government initiatives to build healthcare infrastructures, increased healthcare budgets, and advances in technology largely propel the market growth in these countries," said Barath Palada, one of Technavio's lead industry analysts for diagnostics research. "Changes in lifestyles with a growing gay and bisexual population has resulted in high prevalence of syphilis over the past decade. Growing awareness of syphilis-related risks and available diagnostic procedures and treatment options for the disease presents a tremendous opportunity for vendors to grow in the global syphilis testing market," added Barath. Geographic segmentation of global syphilis testing market
Americas: largest region for the global syphilis testing market The Americas accounted for close TO 49.3% of the global syphilis testing market in 2014. The market in Americas is expected to grow slowly because of growing public awareness, and increase in product launches. The US is among the major contributors for the Americas market on account of increase in cases of syphilis in the country. It is estimated that around 56,471 new case of syphilis were reported in the US in 2013. Many new vendors are however likely to venture into Brazil and other Latin America countries during the course of the forecast period and intensify the competition. Between 2012 and 2014, the Brazilian Ministry of Health distributed 3,0303,041 tests to 5,488 municipalities for syphilis testing in primary health care facilities. Such initiatives by governments and non-profit institutes for syphilis diagnosis are the key drivers of the syphilis testing market in Latin America. EMEA: second largest region for the global syphilis testing market The prevalence of syphilis is gradually increasing in EMEA and the region accounted for close to 32.5% of the global syphilis testing market in 2014. In European countries, the market draws significant contributions from countries such as Ireland, Denmark, Spain, Czech Republic, the United Kingdom, and Sweden. According to Public Health England (PHE) health protection report, it is estimated that in England alone, in 2014, the number of people diagnosed with syphilis increased from 3,236 to 4,317, an increase of 33% from the previous year. With this, the introduction of decentralized testing, establishment of mounting automation in laboratories, increased use of POC testing, and preference for early disease diagnosis will further propel the growth of this market in Europe. To cater to the growing need for timely testing, several pathological laboratories have installed fully automated systems for accurate disease diagnosis and shortened turnaround period. Though the number of laboratories have been declining over the years in countries in Europe, the volume of POC tests is increasing. In 2014, out of the total syphilis infected population in Europe, most patients are in early latent, secondary, and primary stages. These three phases of infected cases account for close to 88% of the total syphilis infected population in Europe. Syphilis testing market in APAC The syphilis testing market in APAC was valued at close to USD 168.3 million in 2014. APAC accounted for close to 18.2% of the global syphilis testing market in 2014. The market in APAC is expected to grow at a faster rate during the forecast period because of increased incidences of syphilis in emerging countries like China and India, especially among the bisexual population and pregnant women. Growing public awareness and an increase in the number of pathology laboratories and diagnosis centers also propels its growth. Vendors are anticipated to employ strategies that increase accessibility of their products through competitive pricing to generate more sales in APAC over the next four years. Browse related reports:
Purchase any three reports for the price of one by becoming a Technavio subscriber. Subscribing to Technavio's reports allows you to download any three reports per month for the price of one. Contact [email protected] with your requirements and a link to our subscription platform. About Technavio Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected].
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