Global STD Testing Devices Market 2020 Business Insights & Deep Analysis To 2025 By World’s Top 10 Key Players

STD Testing Devices Market report by MRFR contains all analytical and statistical transient regarding Market summary, Growth, Demand and Forecast analysis with penetrating summary and solution within the complex industry.

STD Testing Devices Market Analysis

The global STD testing devices market is growing at a rapid pace. Market growth attributes to the rising prevalence of sexually transmitted diseases (STD), such as ST infections, chlamydia (CT), gonorrhea (NG), and others. Besides, increasingly emerging therapeutic options for the risk of sexually acquired HIV-1 infection play a causal role in the market development, complementing federal initiative to address the HIV epidemic.

Moreover, the increasing awareness about STDs and government initiatives & funding support promoting the diagnostic & treatment methods escalate the market growth. According to Market Research Future (MRFR), the global STD testing devices market valuation had reached USD 70.29 BN in 2018, which is poised to appreciate at 9.3% CAGR throughout the assessment period (2019-2025). The growing use of STD testing devices for hospitalized patients is a significant growth driver for the market.

Also Read : https://www.medgadget.com/2020/08/covid-19-impact-on-std-testing-devices-market-2020-research-report-global-study-growth-analysis-industry-share-size-top-companies-regional-revenue.html

Increasing medical clinics with ultrasound machines and prenatal care to provide STD diagnostics & treatment methods boost market growth. Additional factors substantiating market growth include growing healthcare expenditure, global population, and per capita healthcare expenses. The expansion of healthcare infrastructure, including dramatically increasing numbers of hospitals & clinics, pushes the growth of the market.

On the other hand, unfavorable healthcare reforms are major factors likely to impede the growth of the market. Also, the lack of information about the symptoms and causes hamper the market growth extensively. Nevertheless, rising R&D activities to improve STD diagnostics and treatment procedures would support market growth during the review period. Additionally, government funding to drive R&D required discovering effective STD diagnostic kits, push the growth of the market.

Global STD Testing Devices Market – Segments

The report is segmented into three dynamics;

By Type : Point of Care (PoC) Devices, Laboratory Devices, and others.

By End User : Hospitals & Clinics, Diagnostics Laboratories, Research & Academic Centers, and others.

By Regions : Americas, Europe, Asia Pacific, and the Middle East and Africa.

Global STD Testing Devices Market – Regional Analysis

North America dominates the global STD testing devices market. The largest market share attributes to the rising prevalence of sexually transmitted diseases. Besides, rising numbers of medical clinics with ultrasound machines, and prenatal care to provide testing and treatment for sexually transmitted diseases drive the market growth. The growing use of STD testing devices for hospitalized patients is a significant growth driver for the market.

Moreover, the availability of a wide variety of STD testing kits and surges in awareness about the causes of STIs and its treatments fosters regional market growth. Also, factors such as reforms in the enactment of The Hospital Readmissions Reduction Program (HRRP) boost market growth. The North American STD testing devices market is projected to retain its dominance throughout the estimated period.

Europe stands second in the global STD testing devices market. The market is driven by the growing government support for R&D and the healthcare sector. Also, the significant demand for STI testing kits and increasing per capita healthcare expenses push the growth of the regional market. The proliferating healthcare industry and greater rates of hospital admissions in the region influence market growth.

Additionally, the rising initiatives by public and private organizations to provide a platform to exchange information and improve early diagnosis and care of HIV, sexually transmitted infections, viral hepatitis, and tuberculosis propel the regional market growth. The European STD testing devices market is expected to create a substantial revenue pocket over the projected period.

The Asia Pacific STD testing devices market is growing rapidly. Factors such as increasing awareness for STDs and the diagnostic & treatment methods and government initiatives & funding support foster the regional market growth. Additionally, the growing manufacturing of testing devices, healthcare expenses, and a large population drive regional market growth. Furthermore, improving healthcare infrastructures push the growth of the APAC STD testing devices market.

Global STD Testing Devices Market – Competitive Landscape

Highly competitive, the STD testing devices market appears fragmented due to the presence of several well-established players. The market is commoditized, and major devices are generic. Thus, there is a lot of overcapacity in the market, especially in the testing kit sector. China has a large manufacturing capacity, which is idle, resulting in a large fall in prices.

STD Testing Devices Market Major Players:

Players leading the global STD testing devices market include

  • Abbott (US)
  • MedMira Inc. (Canada)
  • Qaigen Inc. (US)
  • Thermo Fisher Scientific (US)
  • Cepheid (Danaher Corporation) (US)
  • Hoffmann-La Roche AG (Switzerland)
  • Diasorin S.p.A (Italy)
  • Bio-Rad Laboratories, Inc. (US)
  • bioMeriuex (France)
  • Becton Dickinson and Company (US)
  • Hologic, Inc. (US)
  • GenePOC Inc. (Canada)
  • Meridian Bioscience (US)
  • OraSure Technologies (US)

STD Testing Devices Industry/ Innovation/ Related News:

May 14, 2020 —- Binx Health Inc. (the US), a leading developer of STI test kits, announced the publication of its key pivotal clinical study of its rapid molecular point-of-care platform – the binx Io. Published in The Journal of the American Medical Association, the study shows that the binx Io provides accurate results in diagnostic of two of the most tested-for sexually transmitted infections (STIs) – chlamydia (CT) and gonorrhea (NG).

The standard of care for CT/NG testing often requires 2-10 days for results. However, binx Io provides results in only 30 minutes, enabling a single visit test and treatment. binx received FDA 510(k) clearance for its CT/NG Assay in August 2019 for female swabs and in April 2020 for male urine samples.

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