HIV Diagnostics Market is Expected to increase around 5,638.6 Mn by 2025, Due to Surge in the Incidence of HIV/AIDS around the Globe
“The HIV Diagnostics Market is anticipated to reach about US$ 5,638.4 Mn by 2025, and anticipated to expand at prominent growth rate over the seven years of forecast period 2019-2025 due to rise in incidence of HIV/AIDS around the globe”
Precision Business Insights (PBI) in its report titled “HIV Diagnostics Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The HIV diagnostics market anticipated to account for US$ 5,638.4 Mn by 2025. The market is burgeoning at prominent growth rate over the forecast years owing to increase in the prevalence of HIV/AIDs in various countries around the world. For instance, according to UNAIDS 2018, approximately 38 Mn people are living with HIV around the world and approximately 1.7 Mn infected with AIDS every year. Moreover, rise in R&D for the newer HIV diagnostic tests such as point-of-care or homecare tests, government initiations to increase the awareness about the HIV among the population, and surge in blood transfusion cases are anticipated to propel the HIV diagnostics market over the forecast years. However, lack of disease awareness in underdeveloped countries, high cost of test kits, and stringent regulatory guidelines are hamper the HIV diagnostics market over the future years.
HIV diagnostics market segmented on the basis of product type, test type, end user, and region.
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Antibody Tests Segment Expected to Dominate the Market
Based on test type, the HIV diagnostics market is segmented into antibody tests, viral identification assays, CD4 count, viral load test, early infant diagnosis, and others. Among all the tests, antibody tests expected to dominate the HIV diagnostics market owing to presence of huge number of tests in the market such as HIV-1 Screening and confirmatory tests, line immunoassay, radioimmunoprecipitation assay, and others. Moreover, development of technologically advanced antibody tests with 100% accuracy also boost the market over the forecast years. However, a rapid grow rate observed in early infant diagnosis due to increase in the birth rate and rise in awareness about the HIV diagnosis among the pregnancy women.
North-America, Accounts for Major Revenue Share for HIV Diagnostics Market
Precision Business Insights (PBI), HIV diagnostics market report analyses the market in different regions North America, Europe, Asia Pacific, Latin America and Middle East and Africa. According to regional analysis, North America accounted for major revenue share due to increased prevalence of HIV/AIDS in U.S. and Canada. For instance, according to AVERT 2018, approximately 1.1 Mn people were living with HIV and about 38,500 new cases diagnosed every year with the disease. Moreover, technological advancements in the HIV diagnosis, favorable reimbursement guidelines, and increase in disposable income are anticipated to bolster the market. Europe HIV diagnostics market growing at prominent growth rate over the forecast timeframe owing to adoption of advanced diagnostic techniques, surge in prevalence of AIDS in developed countries, and government initiations to control the HIV also propel the market.
Launch of Advanced Tests in HIV Diagnostics Market
In July 2018, Abbott, Inc. launched m-PIMA HIV-1/2 VL, a point-of-care diagnostic test in Netherlands for the easy and accurate diagnosis of HIV infection
Key player’s profiles in the report are Roche Diagnostics, Abbott Laboratories, siemens AG, Hologic, Inc., Merck KGaA, Fisher Bioblock Holding II SNC, Becton, Dickinson and Company, Alere Inc., Bio-Rad Laboratories, and Sysmex Corporation
By Test Type
o Antibody Tests
o Viral Identification Tests
o CD4 Count
o Viral Load Test
o Early Infant Diagnosis
By Product Type
o Reagents and Kits
o Software and Services
By End-User Type
o Hospitals and Clinics
o Diagnostic Centers
o Blood Banks
o Homecare Settings
o North America
• Rest of Europe
• Australia & New Zealand
• ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
• South Korea
• Rest of Asia-Pacific
o Latin America
• Rest of Latin America
o Middle East and Africa (MEA)
• Gulf Cooperation Council (GCC) Countries
• South Africa
• Rest of MEA
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