Global Sexually Transmitted Diseases (STD) Treatment Market 2019-2023| Advances in Rapid Diagnosis of STDs to Boost Demand | Technavio

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The global sexually transmitted diseases (STD) treatment market is expected to post a CAGR of more than 4% during the period 2019-2023 (Graphic: Business Wire)

A key factor driving the growth of the global sexually transmitted diseases (STD) treatment market is the initiatives to increase funding and awareness about STDs. The prevalence of sexually transmitted diseases (STDs) such as chlamydia, HIV/AIDS, and syphilis is increasing at a significant rate globally. As a result, governments of various countries are taking initiatives to bring awareness about STDs among people. For instance, in 2014, the CDC launched Improving Sexually Transmitted Disease Programs through assessment, assurance, policy development, and prevention strategies. Moreover, they are also increasing funding for the development of new drugs to treat STDs. Such initiatives undertaken to increase funding and awareness about STDs will boost market growth during the forecast period.

As per Technavio, the advances in the rapid diagnosis of STDs will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global sexually transmitted diseases (STD) treatment market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global sexually transmitted diseases (STD) treatment market: Advances in rapid diagnosis of STDs

The STD treatment market has witnessed several advances in diagnosis such as rapid point-of-care (POC) testing. POC HIV testing has become one of the most accepted methods, which helps to overcome some of the patient and provider barriers to routine screening. The outcome of POC testing is improved by the development of microsystems, sensors, and low-cost imaging technologies. Apart from POC testing, the market is also witnessing rapid advances in molecular diagnostics used in STDs testing. In addition, there have been significant advances in rapid HIV testing as well. Some HIV tests provide accurate results within 5 to 20 minutes. Hence, the availability of such advanced detection techniques will fuel market growth during the forecast period.

“The rising prevalence of STDs is pushing vendors in the market to focus on the development of therapies to treat these diseases. The market has witnessed new drug approvals, which will drive the market during the forecast period. For instance, in June 2018, the USFDA granted Fast Track designation to ABI-H0731 for the treatment of patients with chronic hepatitis B. Moreover, there are several drugs in the late-stage pipeline to treat STDs, which will lead to a strong pipeline,” says a senior research analyst at Technavio.

Global sexually transmitted diseases (STD) treatment market: Segmentation analysis

This market research report segments the global sexually transmitted diseases (STD) treatment market by type (viral infections, bacterial infections, and other infections) and geographic regions (North America, Europe, Asia, and ROW).

The viral infections segment held the largest sexually transmitted diseases (STD) treatment market share in 2018. The growth of this segment is driven by the increase in the prevalence of STDs caused by viruses including genital infection, genital herpes, hepatitis B, and AIDS.

The North America region led the market in 2018, followed by Europe, Asia, and ROW respectively. The market growth in North America can be attributed to the growing prevalence of STDs, a strong presence of established vendors, and the availability of drugs to treat STDs. The high sales of drugs can be attributed to increased reimbursement schemes.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20190422005361/en/