Global HIV Diagnosis Market to Witness
10.6% CAGR during 2017 – 2023
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Global HIV Diagnosis Market
According to a new market research report “Global HIV Diagnosis Market Size, Share,
Development, Growth and Demand Forecast to 2023 - Industry Insight by Product
(Consumables, Instruments and Software & Services), by Type of Test (Antibody Test,
Viral Load, CD4, Early Infant Diagnosis and Viral Identification), by End User (Diagnostic
Laboratories, Hospitals, Research Institutes and Others)” published by P&S Market
Research, the global HIV diagnosis market is expected to grow at a CAGR of 10.6%,
during 2017 - 2023.
Browse Report Description at: https://www.psmarketresearch.com/market-analysis/hivdiagnosis-market
Global HIV Diagnosis Market
Increasing prevalence of HIV/AIDS drives the
global market
According to the study, the global HIV diagnosis market is likely to grow
significantly during the forecast period, due to rising prevalence of
HIV/AIDS, growing awareness leading to high number of blood donations
and blood transfusions, and advantageous features of point of care
instruments and kits. In addition, rising healthcare expenditure on HIV and
related activities further contributes to the growth of the overall market.
High cost of automated HIV diagnosis procedures and lack of skilled
professionals are some of the key factors restraining the growth of global
HIV diagnosis market.
Global HIV Diagnosis Market
Insights on market segments
As per the findings of the research, based on products, consumables segment is the
largest product category in the global HIV diagnosis market. Antibody test has been the
largely performed test of the global HIV diagnosis market, followed by viral load, CD4,
early infant diagnosis and viral identification. Diagnostic laboratories have been the
largest end user of HIV diagnosis, followed by hospitals, research institutes and others.
Global HIV Diagnosis Market
North America stands as the largest HIV diagnosis
market
Geographically, North America has been the largest market for HIV diagnosis, with
the U.S. being the largest contributor to the regional market. Increasing prevalence
of HIV/AIDS and advantageous features of point of care instruments and kits have
been driving the growth of the North American market. In Europe, the U.K. has
been the largest contributor to the market for HIV diagnosis, followed by Germany
and France. The HIV diagnosis market is expected to witness the fastest growth in
Asia-Pacific, during 2017 - 2023, owing to increasing cases of HIV, rising healthcare
expenditure and increasing frequency of blood transfusions.
Global HIV Diagnosis Market
Increasing healthcare expenditure on HIV and
related activites largely impacts the market
The healthcare expenditure for the purpose of alleviating the potential epidemic
situation of HIV, has increased over the past few years in many low and middle
income as well as developing countries. According to the data published by UNAIDS,
$19.0 billion was spent on the HIV and AIDS related activities in low- and middleincome countries in 2015, of which 57% came from domestic budgets of the
governments of these countries. Considering the increasing incidence of HIV, the
UNAIDS estimated that approximately $26.2 billion will be required to respond to
the epidemic of HIV infection expected in 2020 and around $23.9 billion will be
required for the same, in 2030. The variation in healthcare spending across regions
is thought to be related to the relative burden of the disease in that region, which in
case of Sub-Saharan Africa is significantly high. The overall healthcare spending on
HIV and related activities has increased over the years, which in turn is expected to
drive the growth of the global HIV diagnosis market.
Global HIV Diagnosis Market
Increase in the popularity of home-based HIV
diagnosis devices present opportunity to the players
in HIV diagnosis market
In recent years the USFDA has approved some home-based HIV diagnosis kits that
can provide a HIV test result within 20 to 40 minutes, without having the need for
sending the test sample to a laboratory. The home-based HIV diagnosis devices
offer a number of advantages over the standard HIV diagnosis procedure since they
are more convenient to use, save time and are less costly which has made them
increasingly popular in countries such as the U.S. and the U.K. The availability of the
home-based tests is expected to contribute significantly in helping more infected
people become aware of their HIV status and thereby tapping the untapped
potential of HIV diagnosis market. Some of the home-based kits approved by the
USFDA include Home Access HIV-1 Test System and OraQuick In-Home HIV Test. This
provides an opportunity to the players to further strengthen their current and
potential markets, launching low-cost and easy to use HIV diagnosis devices that
can be used at home by the consumers.
Global HIV Diagnosis Market
Key players in the HIV diagnosis market
Some of the key players in the global HIV diagnosis market include Siemens AG, F.
Hoffman La Roche Ltd., Danaher Corporation, Abbott Laboratories, Ltd., ThermoFisher Scientific Inc., Merck KGaA, Becton, Dickinson & Company, Alere Inc., Bio-Rad
Laboratories and Hologic Inc.
Global HIV Diagnosis Market
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