STD Testing Market Size to Hit $133.93 Billion by 2025; Growing prevalence of STD, National Screening Programs have Fueled the Growth
NE WIN SIVERS DRIVE, PORTLAND, UNITED STATES, October 20, 2020 /EINPresswire.com/ — The STD testing market was accounted for $86.55 billion in 2017 and is expected to reach $133.93 billion in 2025, growing at a CAGR of 5.6% during the forecast period. Growing prevalence of STD, implementation of national screening programs, and supporting reimbursement for STD testing have fueled the growth of the global STD testing market. On the other hand, social stigma associated with patients visiting specialized STD clinics, huge proportion of patients infected with STD in out-of-reach geographic areas, and stringent regulatory abidance requirements for the participants of STD market hamper the growth to certain extent. However, decreasing number of visits to GUM clinics and specialized STD clinics, several prospects for technology, and POC test providers in the emerging economies are expected to create multiple opportunities in the future.
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The Chlamydia Testing segment to rule the roost-
Based on disease type, the Chlamydia Testing segment held more than one-fourth of the total market share in 2017 and is expected to retain its dominance during the study period. This is attributed to the wide prevalence of chlamydia across the world. Simultaneously, the Gonorrhoea segment is projected to grow at the highest CAGR of 8.9% by 2025.
The laboratory testing segment to remain dominant through 2025-
Based on testing type, the laboratory testing segment generated the largest share in 2017, accounting for more than four-fifths of the total market. Wide adoption of the method among end users has driven the growth of the segment. The point of care testing segment, on the other hand, is expected to grow at the highest CAGR of 7.0% during the forecast period.
Asia-Pacific to maintain its lion's share during the forecast period-
Based on region, Asia-Pacific contributed to more than half of the total market share in 2017 and is expected to dominate throughout 2019-2025. Rise in incidence of sexually transmitted diseases across the region has spurred the growth of the market in the region. Moreover, growing healthcare awareness and increase in responsiveness for early screening or diagnosis of the sexually transmitted diseases have accelerated the growth in more than one way.
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Key market players-
The report offers a detailed analysis of the key market players and they include Roche Holdings AG, BioMerieux, Hologic Inc., Becton Dickinson & Company, Cepheid Inc., Danaher Corporation, Affymetrix, Abbott Laboratories, Bio-Rad Laboratories Inc., DiaSorin, and Orasure. These key players are expanding the scope of their business operations by incorporating innovative products in their product portfolios. They have also adopted a plethora of strategies such as group effort, partnerships, mergers & acquisitions, developments, joint ventures, and others to strengthen their foothold in the industry.
Source: EIN Presswire