STD Diagnostics Market Report 2024-2033 | Share, Trends, Growth Demand, overview

"The Business Research Company recently released a comprehensive report on the Global STD Diagnostics Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The std diagnostics market size has grown rapidly in recent years. It will grow from $9.25 billion in 2023 to $10.19 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to epidemiological trends, healthcare infrastructure development, pharmaceutical developments, sexual education programs, demographic shifts.

The std diagnostics market size is expected to see strong growth in the next few years. It will grow to $14.82 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to personalized medicine trends, healthcare access improvements, population health strategies, telemedicine and digital health, rising incidence of stds. Major trends in the forecast period include point-of-care testing (poct) advancements, home testing kits,multiplex testing, targeted marketing and outreach, pre-exposure prophylaxis (prep) programs, rising incidence rates.

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Market Drivers and Trends:

The rising healthcare expenditure is expected to propel the growth of the STD diagnostics market going forward. Healthcare expenditure refers to the total amount of money spent on healthcare services and related goods and activities within a specific healthcare system or economy over a defined period. Healthcare expenditure is used in STD diagnostics because it represents a strategic investment in preventive healthcare, addresses public health priorities, and contributes to overall health and well-being on both individual and community levels. For instance, in May 2023, according to a report published by the Office for National Statistics, a UK-based government department, between 2020 and 2021, healthcare spending in the UK increased by 9.4% in nominal terms and 9.7% in real terms. And UK total healthcare expenditure in 2021 was $367.25 billion (£280.7 billion), and pharmaceutical expenditure stood at $51.84 billion (£39.6 billion) in 2021, moreover, spending on preventive care was $45.93 billion (£35.1 billion) in 2021, more than doubling from 2020. Therefore, rising healthcare expenditures are driving the growth of the STD diagnostics market.

The advancement in STD diagnostics is a key trend in STD diagnostic market. Major players are upgrading the testing facilities and techniques to provide a better and fast diagnosis of sexually transmitted diseases. For instance, in May 2022, BD (Becton, Dickinson, and Company), a US-based medical technology company launched a fully automated, high-throughput infectious disease molecular diagnostics platform, known as BD CORTM MX/PX System. This platform unifies and automates the molecular laboratory workflow, from sample processing to diagnostic test results. The first test made accessible on the new platform is the BD CTGCTV2 molecular assay, which is a single test that can identify the three most common non-viral STIs (sexually transmitted infections): Chlamydia trachomatis (CT), Neisseria gonorrhoeae (GC), and Trichomonas vaginalis (TV).

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Major Key Players of the Market:

Siemens AG, Abbott Laboratories, Qiagen Inc., Danaher Corporation, F. Hoffmann-La Roche AG, Hologic Inc., Bio-Rad Laboratories Inc., Becton Dickinson and Company, Thermo Fisher Scientific Inc., Biocartis NV, Trinity Biotech plc, Binx Health Inc., Lybrate Inc., NOWDiagnostics Inc., Alere Inc., Atlas Genetics Ltd., BioFire Diagnostics LLC, BioMérieux SA, Chembio Diagnostic Systems Inc., Corgenix Medical Corporation, Creative Diagnostics, Curetis AG, Daktari Diagnostics, Enzo Biochem Inc., Fujirebio Diagnostics Inc., GenePOC Inc., GenMark Diagnostics Inc., Grifols Diagnostic Solutions Inc., Hain Lifescience GmbH, InDevR Inc., Inflammatix Inc., Karius Inc., Luminex Corporation, Meridian Bioscience Inc., Mesa Biotech Inc., Mobidiag Oy

STD Diagnostics Market 2024 Key Insights:

• The std diagnostics market size is expected to see strong growth in the next few years. It will grow to $14.82 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%.
• Surging Global Prevalence Of Stds Sparks Momentum In The Std Diagnostics Market
• Advancements In Testing Technologies Drive Market Growth
• North America was the largest region in the STD diagnostics market share in 2023

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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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