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/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.
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.
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.
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 middle-income 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.
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.
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., Thermo-Fisher Scientific Inc., Merck KGaA, Becton, Dickinson & Company, Alere Inc., Bio-Rad Laboratories and Hologic Inc.
GLOBAL HIV DIAGNOSIS MARKET SEGMENTATION
By Type of Test
By End User