PUBLISHER: The Business Research Company | PRODUCT CODE: 1425852
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425852
STD Diagnostics Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on std diagnostics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for std diagnostics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The std diagnostics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Sexually Transmitted Diseases (STDs) diagnostics encompass the examination and identification of infectious conditions transmitted through sexual contact. These diagnostic procedures are essential in determining the presence of STDs within an individual.
The primary categories of STD diagnostics include chlamydia, syphilis, gonorrhea, herpes simplex virus, human papillomavirus, human immunodeficiency virus, chancroid, and other tests performed in laboratory and point-of-care settings. Chlamydia testing involves a urine sample analysis to detect infection. This specific test is employed for identifying chlamydia infections, a common bacterial sexually transmitted infection (STI) transmitted through various forms of sexual contact or genital exposure. These STD diagnostic procedures find application in hospitals, clinics, diagnostic centers, and homecare settings.
The STD diagnostics market research report is one of a series of new reports from The Business Research Company that provides STD diagnostics market statistics, including STD diagnostics industry global market size, regional shares, competitors with a STD diagnostics market share, detailed STD diagnostics market segments, market trends and opportunities, and any further data you may need to thrive in the STD diagnostics industry. This STD diagnostics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 expansion observed during the historical period can be credited to several factors, including epidemiological patterns, advancements in healthcare infrastructure, progress in pharmaceuticals, implementation of sexual education initiatives, and demographic changes.
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%. During the forecast period, the anticipated growth can be linked to various factors such as the emergence of personalized medicine trends, enhancements in healthcare access, the implementation of population health strategies, the integration of telemedicine and digital health solutions, and the increasing incidence of STDs. Notable trends expected in this period encompass advancements in point-of-care testing (POCT), the availability of home testing kits, the development of multiplex testing methods, targeted marketing and outreach initiatives, the establishment of pre-exposure prophylaxis (PrEP) programs, and the continual rise in incidence rates.
The escalating prevalence of sexually transmitted diseases (STDs) is a significant driver propelling the STD diagnostics market forward. STDs, infectious diseases transmitted through sexual contact, have become a global health concern. In 2022, the World Health Organization reported that over 1 million sexually transmitted infections are acquired daily worldwide, with approximately 374 million new infections annually, including chlamydia, gonorrhea, syphilis, and trichomoniasis. The rising incidence of STDs underscores the critical role of STD diagnostics in efficient analysis and testing, driving the market's growth.
The anticipated increase in healthcare expenditure is expected to further fuel the growth of the STD diagnostics market. Healthcare expenditure, representing the total amount spent on healthcare services and related activities within a specific healthcare system or economy, is a strategic investment in preventive healthcare. It addresses public health priorities and contributes to overall health and well-being. As of May 2023, a report from the Office for National Statistics in the UK revealed a notable 9.4% increase in healthcare spending between 2020 and 2021, reaching $367.25 billion (£280.7 billion). This included a substantial increase in pharmaceutical expenditure, reaching $51.84 billion (£39.6 billion), and more than doubling spending on preventive care, reaching $45.93 billion (£35.1 billion) in 2021. The significant rise in healthcare expenditures emphasizes the growing importance of addressing STDs through enhanced diagnostic capabilities, thereby driving the STD diagnostics market.
A key trend in the STD diagnostics market is the advancement in diagnostic techniques and facilities. Major players are continually upgrading testing facilities to provide more accurate and rapid diagnoses of sexually transmitted diseases. In May 2022, BD (Becton, Dickinson, and Company), a US-based medical technology company, introduced the BD CORTM MX/PX System, a fully automated, high-throughput infectious disease molecular diagnostics platform. This platform streamlines and automates the molecular laboratory workflow, offering improved efficiency from sample processing to diagnostic test results. The platform's first available test is the BD CTGCTV2 molecular assay, capable of identifying the three most common non-viral sexually transmitted infections such as Chlamydia trachomatis (CT), Neisseria gonorrhoeae (GC), and Trichomonas vaginalis (TV). This technological advancement aligns with the broader trend of enhancing diagnostic capabilities within the STD diagnostics market.
Major players in the STD diagnostics market are actively engaged in the development of innovative products to address unmet medical needs and enhance diagnostic capabilities. One such example is the focus on real-time PCR kits, which are collections of reagents utilized for real-time polymerase chain reaction (qPCR), a sensitive and widely used technique for detecting and quantifying specific nucleic acid sequences. In March 2023, Jiangsu Bioperfectus Technologies Co. Ltd., a China-based research and development company, introduced the Mycoplasma Hominis Real Time PCR Kit and the Treponema Pallidum Real Time PCR Kit. These kits are specifically designed for the detection of Mycoplasma hominis and Treponema pallidum. Noteworthy features of these kits include high sensitivity and specificity, ease of use, rapid turnaround time, and the ability to detect multiple pathogens in a single test. This innovation contributes to the advancement of diagnostic capabilities in the field of STD diagnostics, providing healthcare professionals with more effective tools for detection and quantification.
In December 2021, Quest Diagnostics, a prominent US-based medical laboratory company, made a strategic move by acquiring Labtech Diagnostics for an undisclosed amount. This acquisition allowed Quest Diagnostics to expand its access to diagnostics innovation and enhance diagnostic services for consumers in South Carolina and the southeast. Labtech Diagnostics, the acquired company, specializes in clinical laboratories and provides diagnostic services for STDs and other infectious diseases. This strategic acquisition aligns with the broader industry trend of major companies actively seeking to broaden their offerings and enhance their diagnostic capabilities within the STD diagnostics market.
Major companies operating in the std diagnostics market report are 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, BioMerieux 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
North America was the largest region in the STD diagnostics market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the std diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the std diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The STD diagnostics market consists of revenues earned by entities by providing STD diagnostics tests such as cultural/isolated tests of organisms, molecular tests, and immunology assays. The market value includes the value of related goods sold by the service provider or included within the service offering. The STD diagnostics market also includes sales of thermal cyclers, PCR, lateral flow readers - immuno chromatographic assays, flow cytometers, differential light scattering machines, absorbance microplate readers, phone chips, and rapid diagnostic kits which are used in providing STD diagnostic services. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.