According to a new report published by Allied Market Research, titled, "Sexually Transmitted Diseases (STD) Testing Market by Disease Type and Location of Testing: Global Opportunity Analysis and Industry Forecast, 2018-2025," the global STD testing market is expected to reach $133,935.7 million by 2025, registering a CAGR of 5.6% from 2018 to 2025.
At present, sexually transmitted diseases are considered as one of the most critical health challenges globally. Chlamydia, gonorrhea, and herpes simplex virus are some of the highly prevalent sexually transmitted diseases.The STD testing market has gained prominence in the recent years due to high prevalence of major sexually transmitted diseases worldwide and as a result, increase in need for STD diagnosis. However, limited access to STD diagnosis in majority of the population from developing regions is expected to restrain the market growth.
Based on disease type, the chlamydia segment is the highest revenue contributor and gonorrhea is expected to exhibit the fastest growth rate of 8.9%. This is attributed to the increased prevalence of gonorrhea in the last decade.
Asia-Pacific was the highest revenue contributor in the global STD testing market, accounting for 54.0% share in 2017. This region is also expected to grow at the highest rate, owing to the number of developing nations present in this region, rise in prevalence of sexually transmitted diseases, and increase in awareness.
Based on location of testing, the laboratory testing segment occupied the largest share of STD testing market in 2017. POC testing segment is expected to grow at the highest rate during the forecast period. Factors such as faster diagnosis with POC tests and expected rise in adoption of POCs in future, significantly contribute toward the growth of this segment.
Key Findings Of The Study
- LAMEA occupied 40.0% share of the global STD testing market in 2017.
- The Asia-Pacific segment is anticipated to grow with the highest CAGR throughout the forecast period.
- The laboratory testing segment accounted for 85.0% share of the market in 2017.
- The POC testing segment is anticipated to grow at the highest rate during the analysis period.
The major companies profiled in this report include Roche Holdings AG, BioMerieux, Hologic Inc., Becton Dickinson & Company, Cepheid Inc., Danaher Corporation, Affymetrix, Alere Inc., Abbott Laboratories, Bio-Rad Laboratories Inc., and DiaSorin.