Market Forecast
STD Testing Devices Market Share accounted for USD 70.29 Billion in 2018 and is expected to register a CAGR of 9.3% during the forecast period.
Market Synopsis
Sexually transmitted disease (STDs) is an infection caused due to some organisms. STDs can be transmitted from one person to another through sexual activity and intimate contact. The cases of sexually transmitted diseases keep climbing among 45 and older Americans. 82,938 cases of gonorrhea, syphilis, and chlamydia were reported among 45 and older Americans in the year 2016.
Market Influencer
The increasing prevalence of lifestyle diseases, rising geriatric population along with increasing awareness about sex-related diseases is influencing the market growth positively. The increasing number of product launches by key players in the market are likely to act as a promising factor for the increase in the near future. For Instance, Quest Diagnostics launched three new sexually transmitted disease (STD) laboratory test packages that individuals can purchase online for some of the most prevalent STDs in the United States.
Market Drivers
- Increase in prevalence of sex-related diseases
- Every year, 376 million new cases of chlamydia, syphilis, gonorrhea, and trichomoniasis are reported globally. The total estimated direct cost of STIs annually in the U.S. is about USD 16 billion.
- The most common STIs affecting a lot of people are Chlamydia, gonorrhea, and syphilis. Approximately 1.5 million cases of chlamydia were reported in 2015 in US alone which represents it to be the highest number of annual cases of any condition ever reported.
- A total of 89,239 cases of gonorrhea were reported by 27 states of the European Union in 2017.
- Increasing prevalence of lifestyle diseases
- Rise in healthcare expenditure
- Increasing geriatric population
- Increasing mergers & acquisitions by prominent players in the market
- For instance, in 2019, the US Food and Drug Administration (FDA) has cleared two tests "The Aptima Combo 2 Assay (Hologic Inc) and the Xpert CT/NG (Cepheid)" to detect Chlamydia trachomatis and Neisseria gonorrhoeae from throat and rectum samples.
- Increasing awareness about STIs
Market Restraints
- Lack of information about the symptoms and causes is hampering the growth of the market.
Segmentation
By Type
- Laboratory Devices: It is expected to hold a larger share. Laboratory devices are the traditional methods of detecting STI and a large number of hospitals and clinics are expected to be using the laboratory devices.
- Point of Care (POC) Devices: It is expected to be the fastest-growing segment as it is less time-consuming.
By End-User
- Hospitals and Clinics: Hospitals and clinics segment dominates the global market for The positive growth of hospitals is attributed to factors such as high volume of STD tests performed in hospital-based laboratories across the globe and growing patient population.
- Diagnostic Laboratories: Diagnostic Laboratories segment take up the second-largest share due to the rising number of diagnostic labs and the increasing patient population.
- Research Laboratories and Institutes: segment is projected to be the fastest-growing segment over the assessment period. The research and development activities with respect to STD diagnostics and treatment have increased in last decade which has resulted in the growing demand for the devices and kits in the R&D facilities. Besides that, government funding for the research and development for effective treatment of STD has pushed the growth of this segment. The researchers from King's College London, have published a study in Nature Communications, according to them skin vaccination can generate protective CD8 T-cells that are recruited to the genital tissues and could be used as a vaccination strategy for sexually transmitted infections (STIs).
By Region
- Americas: It is the largest regional market owing to the factors such as large patient population, rise in prevalence of STIs, the availability of a wide variety of STD testing kits and surges in awareness about the causes of STIs and its treatments which are driving the growth of the market in this region.
- According to the Centers for Disease Control and Prevention (CDC), more than 1300 cases of congenital syphilis, about 40% increase was reported in newborns during 2017-2018 in US. Similarly, a rise in 8487 new cases of women suffering from gonorrhea in US alone was reported during the year 2017-2018.
- Europe: The key factors driving the market growth are the growing research and development support by government bodies for the healthcare sector, and the significant demand for STI testing is driving the growth of the STI testing devices market in Europe. Additionally, the rising initiatives by organizations are driving market growth. For Instance, EuroTEST initiative is a platform for information exchange and activities to improve early diagnosis and care of HIV, viral hepatitis, sexually transmitted infections, and tuberculosis.
- Asia-Pacific: The Asia-Pacific region is anticipated to be the fastest-growing region in the global STI testing devices market. The rising patient population is driving the growth of the Asia-Pacific STI testing devices market. Additionally, increasing disposable income of the middle-class population, and improving healthcare infrastructure in emerging countries such as China and India are driving the market growth. However, unfavorable healthcare reforms may restrain the growth of the market to some extent.
- Middle East & Africa: This region is the smallest market due to limited healthcare infrastructure and limited exposure to technological advancements.
Key Players
- Abbott (US)
- MedMira Inc. (Canada)
- Qaigen Inc. (US)
- Thermo Fisher Scientific (US)
- Cepheid (Danaher Corporation) (US)
- Hoffmann-La Roche AG (Switzerland)
- Diasorin S.p.A (Italy)
- Bio-Rad Laboratories, Inc. (US)
- bioMeriuex (France)
- Becton Dickinson and Company (US)
- Hologic, Inc. (US)
- GenePOC Inc. (Canada)
- Meridian Bioscience (US)
- OraSure Technologies (US)
Browse more Healthcare Reports @ https://www.marketresearchfuture.com/categories/healthcare-market-report
About US:
Market Research Future (MRFR), enable customers to unravel the complexity of various industries through Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact Us:
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
Phone: +1 646 845 9312
Email: sales@marketresearchfuture.com
No comments:
Post a Comment