01-09-2019 02:24 PM CET - Health & Medicine

Sexually transmitted diseases (STDs) testing market is expected to grow at a CAGR of 8.5% by 2022

Press release from: Allied Market Research

Sexually transmitted diseases (STDs) are infections that are transmitted from one person to another through sexual contact. STDs affect individuals of all ages, however, according to CDC, age group of 15‐24 accounts for half of all new STDs infections. Currently, STDs are the most common diseases in the U.S., and as per CDC, about 19 million men and women are diagnosed with STDs each year.

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A new report published by Allied Market Research, titled, STD Reimbursement Scenario Analysis and Top STD Testing Technologies - Global Opportunity Analysis and Industry Forecast, 2014 - 2022, projects that the global STD testing market was valued at $107,024 million in 2015, and is estimated to reach $190,010 million by 2022, registering a CAGR of 8.5% over the forecast period.

Polymerase chain reaction (PCR) segment dominated the overall market with a share of more than half of the overall market in 2015 and is expected to continue to lead, owing to effective detection offered by this technology and high prevalence of sexually transmitted diseases.

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High incidences of sexually transmitted diseases and increased governmental support are the factors that drive the market growth. In addition, favorable reimbursement scenario for STD tests, a rise in awareness among people, and patient education are the other pivotal factors that fuel the growth of the market. However, stigma related to voluntary testing and stringent regulatory policies are the major restraints for the market growth. However, global initiatives along with development in healthcare infrastructure are projected to provide a platform for market growth.

Currently, laboratory testing devices accounted for the major share of the total market in 2015, as laboratories perform the bulk of the tests. Microfluidics is expected grow fastest, growing at a CAGR of 34.2% owing to the ease of use, technological advancements, and quick results. Moreover, it provides excellent performance in the diagnosis of infectious diseases using the only 1l of unprocessed whole blood in much less time.

Key findings of the study:
• Polymerase chain reaction segment accounted for more than half of the total market in 2015.
• Microfluidics is expected to grow the fastest throughout the study period.
• Laboratory testing devices accounted for the major share of the total market in 2015, as laboratories perform the bulk of the tests.
• Point-of-care testing devices segment is poised to grow at a CAGR of 10.1%.

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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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This release was published on openPR.
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