Sexually Transmitted Diseases Diagnostics Market is expected to grow at a 7.9% annual rate and reach USD 6.4 Billion by 2032 | FMI
Sexually Transmitted Diseases Diagnostics Market
The fight against sexually transmitted diseases (STDs) is gaining momentum, fueled by advancements in diagnostic tools. The global Sexually Transmitted Diseases Diagnostics Market is experiencing a significant surge, with a projected Compound Annual Growth Rate (CAGR) of 7.9% from 2022 to 2032. This robust growth translates to a market value reaching a staggering USD 6.4 billion by 2032, compared to USD 3.8 billion in 2022.
One of the key drivers behind this anticipated surge is the escalating number of government initiatives dedicated to raising awareness about STDs and advocating for early detection and treatment. These proactive efforts have significantly contributed to an increased demand for advanced diagnostic solutions, fostering the growth of the STD diagnostics market.
Furthermore, the industry has experienced a transformative impact with the advent of innovative technologies such as molecular diagnostics, point-of-care testing, and nucleic acid amplification tests (NAATs). These breakthroughs have not only enhanced the accuracy of STD diagnosis but also expedited the testing process, leading to a further acceleration of market growth.
Among the sexually transmitted diseases diagnostic testing types, the market is divided into those for chlamydia, syphilis, gonorrhea, herpes simplex virus, human papillomavirus, and human immunodeficiency virus.
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Sexually Transmitted Diseases Diagnostics Market Key Players are:
- Abbott Laboratories
- Bio-Rad laboratories
- Qaigen Inc.
- Diasorin SPA
- MedMira Inc.
- Hoffman
- Hologic
- Cepheid
- BioMeriuex
Growth in the Global Sexually Transmitted Diseases Diagnostics Industry is expected to be driven by several factors, including an increase in sexually transmitted diseases prevalence globally, patient awareness through education campaigns, and government initiatives.
The prevalence and incidents of sexually transmitted diseases have increased significantly over the past decade. In light of the increase in prevalence, many countries are focusing on expanding the reach of sexually transmitted disease diagnosis by implementing national screening programs. Payment policies for these services are also favorable. Global sexually transmitted diseases testing is growing as a consequence of these factors.
Sexually Transmitted Diseases Diagnostics Market KEY TAKEAWAYS:
- The sexually transmitted diseases diagnostics market is predicted to develop at a CAGR of 7.2% through 2032 in the laboratory testing section of the location of diagnostic test category.
- The CAGR for the laboratory devices segment of the devices category in diagnostics of sexually transmitted diseases is anticipated to be 7.1% through 2032.
- In the United States, the sexually transmitted diseases diagnostics market is estimated to reach US$ 2.3 billion by 2032, rising at a CAGR of 7.7% throughout the forecast period.
- By 2032, the market in the United Kingdom is expected to be valued at US$ 265.1 million, with a CAGR of 6.7% through 2032.
- With a CAGR of 7.2% throughout the forecast period, China is expected to reach a market size of US$ 442.0 million in sexually transmitted diseases diagnostics by 2032.
- By 2032, the sexually transmitted diseases diagnostics market in Japan is estimated to be worth US$ 356.4 million, growing at an annual rate of 6.3% through 2032.
- With a CAGR of 5.7% throughout the forecast period, South Korea is predicted to reach a market size of US$ 222.4 million in sexually transmitted disease diagnostics by 2032.
Sexually Transmitted Diseases Diagnostics Market COMPETITIVE LANDSCAPE:
Key companies profiled in the market report include Abbott Laboratories, Becton Dickinson Company, BioMérieux, Inc., Bio-Rad Laboratories, Inc., Danaher Corporation, Diasorin Molecular LLC, Hologic, Inc., Orasure Technologies, Inc., Roche Holding AG, and Thermo Fisher Scientific Inc.
Sexually transmitted disease diagnostics demand is largely in the North American market due to the availability of FDA-approved advanced test devices and the widespread use of public healthcare plans, which facilitate healthcare awareness.
Owing to the prevalence of sexually transmitted infections in underdeveloped countries and Asia-Pacific’s economic prosperity, this region should see significant growth during the forecast period of 2021 to 2028.
Sexually Transmitted Diseases Diagnostics Market Key Players
- Abbott Laboratories
- Bio-Rad laboratories
- Qaigen Inc.
- Diasorin SPA
- MedMira Inc.
- F.Hoffman
- Hologic
- Cepheid
- BioMeriuex
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Sexually Transmitted Diseases Diagnostics Market Segments
By Types of Diseases:
- Gonorrhea
- Syphilis
- Chlamydia
- Herpes simplex virus
- Human papillomavirus
- Others
By Diagnostic Test:
- Cultural/Isolated Organisms
- Molecular Test
- Immunology Assay
- Other types of testing
By Device:
- Laboratory Devices
- Thermal Cyclers-PCR
- Lateral Flow Readers Immunochromatographic Assay Flow Cytometers
- Absorbance Microplate Readers Enzyme-Linked Immunosorbent Assay
- Others
- Point of Sales
- Phone Chips
- Portable/Bench
- Diagnostic Kits
By Location:
- Laboratory
- Point of Care
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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