HIV Diagnostics Market size was USD 2.4 billion in 2015, and is forecast to grow at 9.5% CAGR up to 2023; as per a new research report by Global Market Insights, Inc. Growing prevalence, and increasing government and corporate initiatives for HIV infection awareness should propel global HIV diagnostics market size.
Rising HIV/AIDS cost burden on healthcare systems has led to establishment of various associations and campaigns working towards the awareness regarding early diagnosis of disease. Global HIV diagnostics market size was USD 2.4 billion in 2015, with 9.5% CAGR increase during the forecast period.
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Various public awareness and education campaigns have been developed by Federal agencies. For instance, a campaign sponsored by Centers for Disease Control and Prevention (CDC) emphasizes the importance of HIV testing for people aged between 18 to 64. Another campaign driven by U.S. Department of Health and Human Services’ Office on Women’s Health provides teen girls with information regarding HIV and its prevention.
Introduction of technologically advanced products such as point of care rapid diagnostic tests, and portable cell counters that require minimum technical skills for its functioning increasing the speed of diagnosis. Other technological advancements include fluorescence microscopy devices, and flow cytometric instruments used for these tests improving the accuracy for the same.
Strong requirement for affordable, readily available, high quality and efficient tests will also drive HIV diagnostics industry revenue. Usage rate for custom based, rapid and feasible PoC tests that can be done by non-healthcare providers has been steadily growing, which has led to an increase in demand for antibody tests such as HIV-1 screening, HIV-1 confirmatory, HIV-2 & Group O making it the largest product segment in the overall market.
CD4 HIV diagnostics market share is expected to register the highest gains of 10.1% CAGR by 2023, contributing significantly to overall revenue. These tests should become popular due to its increased accuracy and sensitivity for early diagnosis of HIV.
Significant supply lag of diagnostic facilities across India, Malaysia, Indonesia, Brazil, China, and South Korea offers a strong platform for industry participants to expand regional business. APAC, with growth hinged on China and India HIV diagnostics market, could see reach USD 1.05 billion in revenue by 2023. LATAM was predominantly driven by Brazil HIV diagnostics market size, exceeding USD 250 million by 2023.
To access sample pages or view this report titled, “HIV Diagnostics Market Size By Product [Antibody Tests (HIV-1 Screening, ELISA/EIA, Home Access Dried Blood Spot, Rapid Test, HIV-1 Confirmatory Steps, Western Blot, Indirect Immunoflorescent Antibody Assay (IIFA), Line Immunoassay , RadioImmuno Precipitation Assay (RIPA), HIV-2 & Group O Test, Blood Antibody, Dried Blood Spot), Viral Identification Assay (p24 Antigen, Qualitative PCR, Viral Culture), CD4, Viral Load, Early Infant Diagnosis], Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, Japan, China, South Africa, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023” in detail along with the table of contents, please click on the link below:
Key insights from the report include:
Last updated on: 14/10/2016
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