Syphilis Immunoassay Diagnostics Market Expected to Reach $446.0 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Syphilis Immunoassay Diagnostics Market," The syphilis immunoassay diagnostics market was valued at $315.5 million in 2021, and is estimated to reach $446.0 million by 2031, growing at a CAGR of 3.5% from 2022 to 2031.

Syphilis is a sexually transmitted infection caused by Treponema pallidum. The disease is mainly diagnosed through clinical findings and serologic testing. However, no single serologic test of syphilis is sufficient. Hence, the serologic diagnosis of syphilis requires the detection of two types of antibodies (nontreponemal antibodies and treponemal antibodies). 

The rise in socioeconomic factors such as sexually transmitted diseases, increase in awareness about syphilis immunoassay diagnostics, and surge in government expenditure on healthcare drives the growth of the Syphilis Immunoassay Diagnostics Market Size. Moreover, Syphilis Immunoassay Diagnostics Market Trends such as increase in rates of fatal syphilis infections, surge in testing facilities, the widespread use of technology in testing, and the availability of on-the-spot testing further helps in the growth of the Syphilis Immunoassay Diagnostics Industry. However, a lack of knowledge among individuals in emerging economies is expected to hinder the growth of this market.

The global Syphilis Immunoassay Diagnostics Market Share is segmented based on product type, technology, end user, and region. On the basis of product type, the market is divided into analyzers and kits & reagents. Depending on technology, the market is classified into CLIA and ELISA. As per end user, the market is classified into blood banks, diagnostic labs, and hospitals. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

On the basis of product type, the market is classified into analyzers and kits & reagents. The kits and reagents segment is projected to exhibit the largest Syphilis Immunoassay Diagnostics Market Share during the forecast period, owing to increase in the prevalence of syphilis among the population, surge in healthcare expenditure, and rise in adoption of syphilis diagnostic products for screening.

On the basis of technology, the market is classified into CLIA and ELISA. The CLIA segment is anticipated to have largest Syphilis Immunoassay Diagnostics Market Size, owing to upsurge in number of patients of sexually transmitted diseases, increase in the number of diagnosis procedures of syphilis, growth in Syphilis Immunoassay Diagnostics Industry and rise in number of research and development activities for syphilis testing. Moreover, the surge in testing facilities, the widespread use of technology in testing, and the availability of on-the-spot testing helps in the growth of the market.

On the basis of end user, the market is classified into blood banks, diagnostic labs, and hospitals. The blood banks segment is anticipated to grow at the highest rate, owing to increase in the number of biotechnology companies and rise in research activities of cell therapy. Moreover, the rise in number of pharmaceutical companies contributes in the growth of the market.

On the basis of region, the market is studied across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and the rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA). In 2021, North America was the dominant region and is expected to remain dominant during the Syphilis Immunoassay Diagnostics Market Forecast period, owing to the high prevalence rate of syphilis, increase in the number of market players, and surge in testing facilities in the region. However, Asia-Pacific is expected to witness the highest CAGR during the analysis period, owing to the presence of high populace countries such as India and China, which in turn increases the prevalence rate of sexually transmitted diseases and the increasing number of strategies and trends adopted by the market players.

KEY FINDINGS OF THE STUDY

• By product type, the kits and reagents segment accounted for major share of the Syphilis Immunoassay Diagnostics Market Analysis in 2021.

• By technology, the CLIA segment is anticipated to grow with the highest CAGR during the forecast period.

• By end user, the blood banks segment is anticipated to grow with the highest CAGR during the forecast period.

• By region, North America occupied major share of the syphilis immunoassay diagnostics market in 2021.