HIV Diagnosis Market Opportunities by Types, Demand, Top Manufactures and Application in Grooming Regions
The increasing prevalence of human immunodeficiency virus (HIV)/acquired immune deficiency syndrome (AIDS) and surging healthcare expenditure on HIV and related activities are two of the key factors responsible for the growth of the HIV diagnosis market. During the forecast period (2017–2023), the market is predicted to advance at a CAGR of 10.6%. HIV diagnosis refers to the tests performed to detect the presence of HIV in human blood. HIV weakens the immune system and leads to AIDS, if not treated timely.
Based on product, the HIV diagnosis market is categorized into consumables, software & services, and instruments. Out of these, during the historical period (2013–2016), consumables dominated the market, and these are predicted to continue dominating it during the forecast period. This is attributed to the surging cost of the reagents used during HIV tests and the advent of various innovative products in the market. The consumables are further bifurcated into assays, kits & reagents, and others.
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The growing prevalence of the disease is predicted to boost the demand for diagnosis products, which, in turn, would result in the growth of the HIV diagnosis market. HIV easily spreads through a used needle or transfusion of infected blood to a healthy person. In the past few years, many low and middle-income as well as developing nations have witnessed an increase in the healthcare expenditure for the purpose of reducing the incidence of HIV.
Hence, the growing incidence of HIV/AIDS and significant healthcare expenditure on diagnosis and related activities are being witnessed as the major growth drivers of the market.