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The Global STD Diagnostics Market Report is a compilation of comprehensive research studies of various aspects of the STD Diagnostics Market. With accurate data and highly authentic information, a brilliant attempt is made to paint a true, transparent picture of the current and future situations of the global STD Diagnostics market. Market participants can use this powerful tool when creating effective business plans or making major changes to their strategies. The report discusses the growth of the global as well as regional markets. It also throws light on high-growth segments of the global STD Diagnostics market and how they will evolve in the years to come.
Read Detailed Index of full Research Study @ https://www.absolutemarketsinsights.com/reports/STD-Diagnostics-Market-2019-2027-646
In terms of revenue, global STD diagnostics market was valued at US$ 88706.7 Mn in 2022 and is anticipated to grow at a CAGR of 5.06% over the forecast period.. Abbott Laboratories, BD, bioMérieux SA, Bio-Rad Laboratories, Inc., Cellabs, Cepheid, Danaher Corporation, DiaSorinS.p.A., EUROSPITAL SPA, F. Hoffmann-La Roche Ltd, Hologic, Inc., JAL Medical (OK Biotech Co. Ltd.), MedMira Inc., OraSure Technologies, Inc., QIAGEN, Quest Diagnostics, Quidel Corporation, Rapikit.com and Siemens Healthcare GmbH amongst others.
Sexually transmitted infections (STIs) or sexually transmitted diseases (STDs) are some of the most widespread infections in the world which can occur during sexual or intimate contact with anyone. STDs can also be transmitted by sharing of used needles, during pregnancy and breastfeeding, amongst others. More than 30 different bacteria, viruses and pathogens are transmitted sexually. STDs are becoming a worldwide public health concern as more than 1million STDs are being reported every day. STDs affect both men and women. Individuals younger than 25 years old are highly prone to get these infections due to unprotected and high-risk sexual practices. The statistics of World Health Organization published in June 2019 states that around 376 million new STDs are reported each year. These STDs are having a severe impact on reproductive and sexual health on the global population which can even lead to death in extreme cases.
Early detection of STDs can reduce the morbidity rate and help people recover faster without spreading the infection. Technological advancements in medical devices have introduced portable rapid testing solutions for diagnosis of STDs which enable immediate delivery of care to the patients, thus driving the growth of STD diagnostics market. As compared to traditional in-lab testing which requires long time durations for availing the test results, rapid kits produce results in a matter of hours. These portable rapid tests are available for STDs such as Human Immunodeficiency Virus (HIV), Hepatitis C virus (HCV), syphilis, amongst others which can be detected by using finger-prick blood or oral fluid. binx health, inc. received clearance from U.S’s Food and Drug Administration (FDA) in August 2019 for its portable bench-top platform which diagnose chlamydia and gonorrhoea. Many new market participants such as QuantuMDx Group Ltd., European Union funded SelfDiagnostics and others are developing new portable rapid testing platforms for STDs. Thus, the availability of advanced portable rapid diagnostic devices to curb the growth of STDs amongst individuals is driving the demand for kits in the global STD diagnostics market.
The growing penetration of counterfeit products across the medical supply chain is impacting the growth of the global STD diagnostics market. World Health Organization estimates that up to 8% of the medical devices in circulation are counterfeit. The false diagnosis of these products leads to improper treatment, thus increasing the burden of health costs. These factors have led to stringent regulatory policies and guidelines for production and marketing of STD testing kits. The high regulatory requirements increases time to market of medical devices, thus, hampering the growth of the STD diagnostics market across the globe. Also, the social stigma of STDs is creating hesitance among people for testing which further impedes the growth of market.
Telehealth services for STD diagnosis is rapidly gaining momentum as people are reluctant to discuss their sexual diseases in-person. Online consultation is helping in removing this barrier. The recent outbreak of COVID-19 pandemic has further inflated these telehealth STD diagnostic services as people are restricted to leave their houses amidst lockdowns. To tap on this opportunity, Planned Parenthood Federation of America Inc. announced telehealth services including STD testing across all 50 states in April 2020. In a similar instance, Philadelphia city government is providing telephonic assistance for people with STD amidst COVID-19 crisis. Thus, the recent outbreak of coronavirus pandemic is expected to boost the demand for telehealth services in global STD diagnostics market in future years.
Global STD Diagnostics Market:
By Clinical Indications
By Test Types
By End User
By Product Offerings
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