Transparency Market Research observes, the global sexually transmitted diseases drug market is highly competitive due to presence of several strong players.
Transparency Market Research (TMR) observes, the global sexually transmitted diseases (STDs) drug market is highly competitive due to presence of several strong players. The key players are investing on the research and development activities for developing a novel drugs in order to be a part of competition. Some of the key players in the global sexually transmitted diseases drug market includes Pfizer INC, Bayer Healthcare, Hoffmann La Roche, Eli Lilly, Bristol-Myers Squibb Co., Johnson & Johnson, AbbVie, Inc., GlaxoSmithKline Plc, Gilead Sciences, and Merck & Co., Inc.
TMR anticipated the global revenue of the sexually transmitted diseases (STDs) drug is estimated at US$32,826.3 mn in 2016 and expand with a CAGR of 11.2% over the forecast period from 2017 to 2025. With this pace, the market is anticipated to attain the value of US$83,041.3 mn by the end of 2025. Among various therapy classes, antibiotics segment is expected to account for the dominant share being the most frequently prescribed products in the modern medicine. Regionally, North America is accounting for the largest share in the global sexually transmitted diseases drug market.
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Government Initiatives for Adoption of Drugs to Boost Growth
Prevalence of unprotected sex is a major reason behind the increasing prevalence of sexually transmitted diseases. In addition, changing lifestyle and having several causal sex partners is leading to increase prevalence of sexually transmitted diseases over the forecast period. The rising need for treatments of these diseases is boosting demand for effective drugs and treatments which is likely to boost growth of the global sexually transmitted diseases drugs market.
The World Health Organization (WHO) has reported nearly 468,514 gonorrhea cases, with the rate of 145.8 cases per 100,000 people, with increase of 18.5% from 2015. Numerous governments are increasingly taking steps to reduce these cases by imposing favorable policies for adoption of sexually transmitted diseases drugs is influencing positively on the growth of the global sexually transmitted diseases drugs market. Additionally, introduction of government reforms and some improvements in healthcare facilities are fuelling growth of the global sexually transmitted diseases (STDs) drugs market.
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Low Rate of Detection for Diseases due to Social Stigma to Hamper Growth
Recent technological advancements have improved the diagnosis facilities and treatments, these advancements have boosted adoption of the sexually transmitted diseases drug which is likely to fuel growth of the global sexually transmitted diseases drug market.
Despite of these growth prospects, low rate of screening for diseases due to social stigma coupled with late diagnosis of the disease are crimping growth of the global sexually transmitted diseases drug market. Nevertheless, rising incidence of numerous sexually transmitted infections such as syphilis, gonorrhea, chlamydia, human papilloma virus, chancroid, herpes simplex virus, vaginitis, and trichomonas vaginalis are creating growth of the global sexually transmitted diseases drug market. Additionally, high number of pipeline drugs are expected to create lucrative opportunities for growth of the global sexually transmitted diseases drug market.
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