HIV Diagnostics Market will Exhibit a Steady 7.9% CAGR through 2022-2032 | Future Market Insights
As per Future Market Insights, the HIV diagnostics market is predicted to rise from US$ 3.0 Bn in 2022 to US$ 6.4 Bn in 2032. The HIV diagnostics market is anticipated to record a steady CAGR of 7.9% during the period 2022-2032.
Technological improvements and increasing prevalence of HIV in developing and underdeveloped countries will foster the industry growth. HIV is one of the serious public health challenges across the globe. HIV if not treated on time can lead to formation of AIDS.
Despite numerous research and advances in scientific studies related to HIV still there is no vaccine and preventive medication to control the spread of the infection. One of the only methods to tackle the infectious is by treating it on time and access to proper treatment and care.
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Therefore, many governments, NGO’s and other organizations play a crucial role in creating proper awareness for the prevention of HIV/AIDS. Governments across the globe are undertaking numerous initiatives to educate its citizens regarding prevention and safer sex practices. They are developing better healthcare infrastructure to provide sophisticated patient care as well as management.
“Favourable regulatory environment and substantial investment in R&D activities by market participants for the development of improved quality HIV testing kits for home use is likely to propel the HIV diagnostics market growth.”
The demand for HIV diagnostics is forecasted to grow due to factors such as the rising global prevalence of HIV/AIDS, as well as the rising number of blood transfusions and blood donations.
What is the Segmentation Outlook for the HIV Diagnostics Market?
The consumable sector accounted for the largest market share in the global HIV diagnosis market. Consumption of consumables such as assays, reagents, and kits are on the rise, which is propelling the HIV diagnostics market forward.
HIV Diagnostics Market Key Players
- Siemens Healthineers
- F. Hoffmann-La Roche Ltd
- Abbott Laboratories
- Danaher Corporation
- Thermo-Fisher Scientific Inc
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HIV Diagnostics Market Key Segments
- Software & Services
By Test Type:
- Antibody Tests
- Viral Load Tests
- CD4 Tests
By End User:
- Diagnostic Laboratories
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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