Albany, NY -- (SBWIRE) -- 02/14/2018 -- The rising prevalence of sexually transmitted diseases has upped the demand for effective drugs. To capitalize on the prevailing trend, a majority of the market players are focusing on research and development activities. Favorable government policies and recent initiatives have further provided boost to their plans of expanding product portfolio, finds Transparency Market Research (TMR) in a new study. According to the report, companies such as Bayer Healthcare, Hoffmann La Roche, Pfizer INC, Bristol-Myers Squibb Co., Gilead Sciences, AbbVie, Inc., Johnson & Johnson, GlaxoSmithKline Plc, Eli Lilly, and Merck & Co., Inc. currently exhibit a strong market presence. Strategies adopted by these companies often prove prolific subsequently influencing the overall market forces.
According to TMR, the global sexually transmitted diseases drug market is forecast to exhibit a CAGR of 11.2% between 2017 and 2025. At this pace, the market is expected to reach US$83,041.3 mn by the end of 2025, from its valuation of US$32,826.3 mn in 2016. Among various therapy classes, antibiotics have emerged as one of the most frequently prescribed products in modern medicine. Regionally, North America emerged dominant, holding the largest share in the global sexually transmitted diseases drug market in 2016.
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Rising Awareness about STDs and Available Treatment to Create Lucrative Prospects
The global sexually transmitted diseases drug market is slated for an impressive growth in the coming years. The rising incidence of unprotected sex has upped the prevalence of sexually transmitted diseases, in turn fuelling the demand for effective drugs and treatment procedures. Besides this, the rising awareness among patients as a result of favorable government initiatives and proliferation of educational campaigns have helped the market gain immense impetus in the recent past. Also, lifestyle choices such as having several casual sex partners have spurred the prevalence of STDs worldwide, subsequently, fuelling the demand for sexually transmitted diseases drugs.
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Government Reforms aimed at Betterment of Public Health to Aid Growth
Over the course of the forecast period, the global STD drug market is likely to witness impressive growth. Factors such as recent technological advancements leading to precise diagnosis have also spurred the need for effective sexually transmitted diseases drugs. Such demand is directed at achieving speedy disease remission. Also introduction of government reforms and improvement in healthcare infrastructure provide an ideal environment, conducive to the market's expansion. According to the report, the market is expected to witness much lucrative prospects in Asia Pacific and the Middle East and Africa. Also the rising per capita income of patients and their willingness to spend on advanced medications will augur well for the global sexually transmitted diseases drug market. "The market will significantly benefit from the launch of novel diagnostics and steps taken by governments to boost the healthcare infrastructure," added a lead TMR analyst.
Overall, the rising incidence of various infections such as syphilis, chlamydia, gonorrhea, human papilloma virus, herpes simplex virus, chancroid, vaginitis, and trichomonas vaginalis is expected to fuel he demand for sexually transmitted diseases drugs in the coming years.
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