Lewes, DE -- (SBWire) -- 01/19/2017 --STD Reimbursement Scenario Analysis and Top STD Testing Technologies - Global Opportunity Analysis and Industry Forecast, 2014 - 2022, projects that the global STD testing market was valued at $107,024 million in 2015, and is estimated to reach $190,010 million by 2022, registering a CAGR of 8.5% over the forecast period. Polymerase chain reaction (PCR) segment dominated the overall market with a share of more than half of the overall market in 2015, and is expected to continue to lead, owing to effective detection offered by this technology and high prevalence of sexually transmitted diseases.
High incidences of sexually transmitted diseases and increased governmental support are the factors that drive the market growth. In addition, favorable reimbursement scenario for STD tests, rise in awareness among people, and patient education are the other pivotal factors that fuel the growth of the market. However, stigma related to voluntary testing and stringent regulatory policies are the major restraints for the market growth. However, global initiatives along with development in healthcare infrastructure are projected to provide platform for the market growth.
Currently, laboratory testing devices accounted for the major share of the total market in 2015, as laboratories perform bulk of the tests. Microfluidics is expected grow fastest, growing at a CAGR of 34.2% owing to the ease of use, technological advancements, and quick results. Moreover, it provides excellent performance in the diagnosis of infectious diseases using only 1l of unprocessed whole blood in much less time.
Key findings of the study:
Polymerase chain reaction segment accounted for more than half of the total market in 2015.
Microfluidics is expected grow the fastest throughout the study period.
Laboratory testing devices accounted for the major share of the total market in 2015, as laboratories perform bulk of the tests.
Point-of-care testing devices segment is poised to grow at a CAGR of 10.1%.
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