The global HIV diagnostics market size is expected to reach USD 7.62 Billion in 2028 and register a CAGR of 10.1% over the forecast period, according to the latest report by Reports and Data. HIV diagnostics market revenue growth is driven by increasing prevalence of the diseases and surge in risk of AIDS in developing countries.
According to WHO, around 38 million individuals across the globe were living with HIV infection in 2019. Due to various initiatives taken by government and international organizations, 68% of adults and 53% of children infected by the virus are receiving lifelong Antiretroviral Therapy (ART). Presence of favorable government initiatives and reimbursement policies are also key factors driving market revenue growth. Advancements in HIV testing technologies and increased focus on safe blood transfusions are other factors also propelling growth of the market.
Research have proven that early diagnosis and treatment of HIV can reduce suffering, limit HIV-related illnesses, and prevent transmission to others. Surge in prevalence of HIV infection and rise in expenditure for research development by healthcare companies will continue to fuel HIV diagnostic market growth. Increase in HIV antigen, viral load testing, nucleic acid testing, and remunerative growth opportunities will further contribute to the growth of the market going ahead. However, lack of proper regulatory framework for Nucleic Acid Testing (NAT) in developing countries and high associated costs are some major factors restraining market growth to some extent.
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The report provides a panoramic view of the market and insights that will help formulate better business decisions. In addition to that, the study helps well-established companies and players gain a deeper understanding of the market and make informed decisions. The report also discusses in detail about the key factors influencing the market growth.
Key companies operating in the market include:
Abbott Laboratories, Becton, Dickinson Company, Siemens Healthineers, Beckman Coulter, Inc., Hologic Inc., Roche Diagnostics, Thermo-Fisher Scientific Inc., Bio-Rad Laboratories, Bristol-Myers Squibb, and Gilead Sciences.
The report covers an extensive analysis of the key market players in the market along with their business overview, expansion plans, and strategies. The report also focuses on recent strategic alliances in the market including mergers and acquisitions, joint ventures, partnerships, agreements, corporate and government deals, product launches, and brand promotions, among others.
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The report aims to provide a better understanding of the market dynamics and the workings of the industry on a global level. To gain a deeper understanding of the industry, the global Hiv Diagnostics market is further segmented on the basis of key geographical regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East Africa. The report also offers a country-wise analysis to provide crucial insights into market size, market growth, market revenue growth, and economic growth in each region.
On basis of product types and application offered by the Hiv Diagnostics industry, the market is segmented into:
Product Outlook (Revenue, USD Billion; 2018–2028)
- Assays and Kits Reagents
- Other Consumables
- Software Services
Test Type Outlook (Revenue, USD Billion; 2018–2028)
- Antibody Tests
- HIV-1 Screening Tests
- Rapid Tests
- Home Access Dried Blood Spot
- HIV-1 Confirmatory Tests
- Western Blot Tests
- Indirect Immune Fluorescent Antibody Assays (IFA)
- Line Immunoassays (LIA)
- Radio-Immunoprecipitation Assays (RIPA)
- HIV-2 Group O Diagnostic Tests
- Viral Load Tests
- CD4 Tests
- Tests for Early Infant Diagnosis
- Tests for Viral Identification
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Diagnostic Laboratories
- Blood Banks
- Home Care Settings
The regional analysis covers:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Benefits of Hiv Diagnostics Market Report:
- Panoramic overview of the opportunities and risks in the Hiv Diagnostics sector
- Study of recent innovations and developments in the industry
- Comprehensive study of the growth pattern of the Hiv Diagnostics industry
- In-depth assessment of the competitive landscape of the key players of the Hiv Diagnostics industry
- Analysis of the Hiv Diagnostics market drivers, constraints, and opportunities
- Assessment of technological developments and latest trends of the industry
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