Global STD Diagnostics Market is Respected to Grow over USD 100 Billion by 2024 | Hexa Research

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Research Report on STD Diagnostics Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies and Forecasts, 2016 To 2024

18 December 2018, The global STD (Sexually Transmitted Disease) Diagnostics Market is driven by growing awareness about STDs among the masses and greater governmental initiatives. Technological developments too play a vital role in fuelling market growth. Popularity of POC (point of care) testing propels the demand for improved products, such as diagnostic devices, kits, and reagents. A number of people have multiple sexual partners which in turn raises the possibility of contracting infections. Hence, there’s the growing need for accurate & precise diagnostics solutions. 

The worldwide STD diagnostics market is segmented as per types of infections, location of tests, devices, and regions. On the basis of infections, the categories are human papilloma virus (HPV), syphilis, chlamydia, vaginitis, HIV (human immunodeficiency virus), herpes simplex virus, and gonorrhea. Chlamydia, gonorrhea, and syphilis are sexually transmitted infections (STIs) caused by bacteria. 

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Genital warts, HPV, HIV, and hepatitis genital herpes are examples of STIs caused by viruses. These microorganisms get transmitted through semen, blood, and vaginal fluids. Chlamydia is by far the most commonly occurring sexually transmitted disease. In terms of revenues, this segment held the highest share in the overall industry. It generated revenues surpassing USD 36 billion in 2016.  However, rising cases of syphilis may contribute to more than 20% of total industry revenues over the forecast period (2016 to 2024). 

Based on location of tests, the market is bifurcated into laboratory testing and point of care (PoC) testing. Laboratory tests are carried out either in public health labs or in private/commercial labs. Unlike, PoC testing solutions, laboratory tests deliver more precise results. PoC tests (such as test kits) are a more convenient option because these deliver immediate results, but they are not always accurate. The introduction of bedside & mobile testing is a step towards enhanced healthcare. The industry for bedside & mobile testing may expand at a CAGR nearly 10% from 2016 to 2024. 

According to type of device, the worldwide STD diagnostics market is segmented into thermal cyclers – PCRs, lateral flow readers, flow cytometers, differential light scattering machines, absorbance microplate reader, phone chips (microfluidics+ICT), and bench top/portable/rapid diagnostics kits. Portable/rapid diagnostics and phone chips are PoC testing devices, while the others are laboratory test devices. The thermal cyclers segment is anticipated to grow rapidly at a CAGR surpassing 8% during the forecast period. The portable PoC testing devices industry is propelled by continuous technological innovations. It may generate revenues exceeding USD 46 billion by 2024. 

Geographically, the global STD diagnostics market is divided into Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa. Driven by surging public awareness about STIs and the presence of a well developed system of health insurance, North America dominates the global industry. Another vital factor that positively impacts this region is the growing accessibility to FDA-approved highly advanced testing devices. As per ongoing industry trends, Asia Pacific may register a high CAGR over the forecast period and thus prove to be a lucrative market in the long run. Prominent companies operating in the worldwide STD diagnostics market are Danaher Corporation, Abbott Laboratories, BioMerieux, Roche Holdings AG, and Becton Dickinson & Company. 

Recently, QuantuMDx, a U.K. based company dealing in life sciences diagnostics & tools, developed the Q-Poc. This is a highly affordable diagnostic DNA analyzer which is commonly known as the “handheld lab”. It is capable of diagnosing certain types of cancers and a number of infectious diseases (including the sexually transmitted ones). Equipped with a solar battery, the Q-Poc can analyze biological samples, for example, swabs are used to detect sexually transmitted diseases/infections. 

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