Sexually Transmitted Disease (STD) Testing Market is projected to grow at significant CAGR close to 5%

The sexually transmitted disease (STD) testing market is estimated to grow at a CAGR of 5.53% during the forecast period.

NOIDA, UTTAR PARDESH, INDIA, October 30, 2023 /EINPresswire.com/ — According to a new study published by Knowledge Sourcing Intelligence, the sexually transmitted disease (STD) testing market is projected to grow at a CAGR of 5.53% between 2021 and 2028.

Growing public awareness and patient education are two major factors propelling the growth of the market for sexually transmitted diseases (STD) testing. In addition, it is anticipated that government efforts, a rise in patient awareness through education programs, and the rising frequency of STDs worldwide will propel market expansion. Sexually transmitted infections have been more common and more often reported within the past ten years. As the incidence of sexually transmitted infections grows, nations worldwide are concentrating on putting national screening programs into place to expand the diagnosis coverage of STDs. In addition, reimbursement regulations have been favourable for services related to STDs. The expansion of the global market for testing for sexually transmitted diseases is being driven mostly by these factors.

Sexually transmitted diseases, often known as STDs, are illnesses that are passed from an infected individual to an uninfected one during sexual activity. However, they can occasionally spread via other close physical touch. This is because skin-to-skin contact can spread some STDs, such as HPV and herpes. Bacteria, viruses, or parasites are the root of the problem. Gout, genital herpes, HIV/AIDS, syphilis, gonorrhoea, and human papillomavirus infection are a few examples of STDs. The expansion of the sexually transmitted diseases (STD) testing market is driven by high rates of STDs and growing government assistance. The market is primarily being driven by government programs for early diagnosis and treatment as well as technology advancements in STD diagnoses.

The market is witnessing multiple collaborations and technological advancements, for instance in December 2021, Becton, Dickinson and Company declared the introduction of the BD COR MX instrument, a new analytic instrument option for the BD COR System, in the United States. The BD COR MX instrument is a completely automated, high-throughput molecular diagnostics technology for infectious diseases. Chlamydia trachomatis (CT), Neisseria gonorrhoeae (GC), and Trichomonas vaginalis (TV) are the three most common non-viral STIs that may be detected by a single test.

Access sample report or view details: https://www.knowledge-sourcing.com/report/sexually-transmitted-disease-std-testing-market

Based on disease type the global sexually transmitted disease (Std) testing market is divided into chlamydia, gonorrhoea, herpes simplex virus, syphilis, human papillomavirus (HPV) and others. Among these, the chlamydia segment held the major market share and is likely to dominate the market over the forecast period. The increased rate of diagnosis for this condition is a direct result of growing awareness, which is driving up the incidence rate. Many items are available on the market for testing at a reduced price. Compared to other diseases, it is a common enough condition that testing for it occurs often. Throughout the projection period, these variables support the segment’s expansion.

Based on testing location the global sexually transmitted disease (STD) testing market is divided into laboratory testing and point of care (POC) testing. Among these, the laboratory testing setting segment dominated the market and is poised to expand at a significant pace over the forecast period. Considering it is more accurate than point-of-care testing, which was only introduced, laboratory testing, often known as lab-based testing, has long been the model of choice for testing. Furthermore, many methods do not apply to point-of-care kits. The segment is growing as a result of this as well as patients’ growing preference for independent clinical laboratories for these diseases’ diagnoses.

Based on Geography the North American market is likely to dominate the market dynamics. High testing rates, technology developments, proactive government initiatives, infrastructural improvements in the healthcare industry, and the existence of significant players are all factors contributing to this domination. Growth in the industry is probably going to be fueled by government efforts and reimbursement rules. To lessen hospital financial losses, the CMS launched the New Technology Add-on Payment (NTAP) program. Profitable expansion prospects are being created in the STD diagnostics business by the growing number of collaborations between non-profit organizations and in-vitro diagnostic firms to raise awareness about STDs.

As a part of the report, the major players operating in the global sexually transmitted disease (Std) testing market, that have been covered are Abbott Laboratories, Becton Dickinson Company, Biomérieux, Inc., Bio-Rad Laboratories Inc., Danaher Corporation, Diasorin Molecular Llc, Hologic Inc., Orasure Technologies, Inc., Roche Holdings Ag, Thermo Fisher Scientific (Affymetrix).

The market analytics report segments the global sexually transmitted disease (Std) testing market using the following criteria:

• BY DISEASE TYPE

o Chlamydia

o Gonorrhea

o Herpes simplex virus

o Syphilis

o Human papillomavirus (HPV)

o Others

• BY TESTING LOCATION

o Laboratory testing

o Point of care (POC) testing

• BY GEOGRAPHY

o North America

• United States

• Canada

• Mexico

o South America

• Brazil

• Argentina

• Others

o Europe

• Germany

• France

• United Kingdom

• Spain

• Others

o Middle East and Africa

• Saudi Arabia

• UAE

• Israel

• Others

o Asia Pacific

• China

• Japan

• South Korea

• India

• Indonesia

• Thailand

• Others

Companies Profiled:

• Abbott Laboratories

• Becton Dickinson Company

• Biomérieux, Inc.

• Bio-Rad Laboratories Inc.

• Danaher Corporation

• Diasorin Molecular Llc

• Hologic Inc.

• Orasure Technologies, Inc.

• Roche Holdings Ag

• Thermo Fisher Scientific (Affymetrix)

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Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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