WILMINGTON, DE / ACCESSWIRE / March 30, 2023 / Transparency Market Research Inc. - The global HIV/AIDS diagnostics market is projected to expand at a CAGR of 9.3% from 2022 to 2031 and exceed value of USD 9.6 Bn by 2031.
Continuous technological innovations in POC technologies for HIV/AIDS has broadened the HIV/AIDS diagnostics market outlook. Increase in availability of POC testing is likely to accelerate the market and contribute to reduced AIDS-related morbidity and mortality.
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Advancements in HIV rapid test kits are likely to propel the global HIV/AIDS diagnostics industry. Surge in awareness about advantages of rapid point-of-care HIV testing in women and vulnerable populations is likely to bolster the HIV/AIDS diagnostics market growth in the near future.
Governments in several countries have framed policies that promote adoption of HIV testing among at-risk populations. This has spurred HIV screening in the health care setting notably in developed nations. Need for routine HIV screening could be ascribed to high prevalence of HIV among adults in developed countries.
Need for accurate testing in laboratory settings has bolstered demand for advanced assays and diagnostic instruments. Introduction of novel assays with high sensitivity is likely to benefit patients. R&D in rapid HIV/AIDS tests is expected to open up new business opportunities for companies in the HIV/AIDS diagnostics market.
HIV/AIDS Diagnostics Market - Key Findings of Study
- High Demand for HIV Self-tests: Surge in popularity of self-help tests especially among vulnerable populations could be ascribed to the benefits of conducting the testing in private. Governments are also promoting self-help tests to enhance access to these tests wherever facility-based services are absent. Home-based testing enables at-risk individuals to avoid the fear of stigmatization. Rapid adoption of HIV self-testing in several countries has offered significant revenues to companies in the market.
- Rapid Increase in Utilization of Advanced Diagnostic Instruments: Adoption of point-of-care technologies is anticipated to increase among people in low- and middle-income countries. Rise in usage of advanced point-of-care technologies is expected to boost the global HIV/AIDS diagnostics market. Introduction of novel HIV rapid tests is expected to broaden the market outlook.
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Global HIV/AIDS Diagnostics Market - Key Drivers
- High burden of the global HIV/AIDS epidemic has driven the need for HIV diagnostics to achieve epidemic control. Access to affordable HIV testing to diagnose HIV is crucial for prevention of transmission of the infection. HIV currently remains a leading cause of death worldwide and therefore the pressing need to reduce the epidemic is likely to boost the HIV/AIDS diagnostics market.
- Growth in awareness about the need to diagnose HIV as early as possible is expected to drive the HIV/AIDS diagnostics industry. Early detection reduces the complications of HIV infection in the patient population considerably as well as lowers the risk of transmission.
HIV/AIDS Diagnostics Market - Regional Growth Dynamics
The HIV/AIDS diagnostics market in North America is anticipated to account for major share from 2022 to 2031. Rise in incidence of HIV/AIDS and continuous R&D activities to develop innovative point-of-care tests are likely to propel market growth in the region. Introduction of IoT-enabled platforms and increase in acceptance of rapid HIV self-testing in the regional population are expected to augment the market size in the next few years. Governments in the region are facilitating access to HIV testing. Furthermore, presence of prominent vendors especially in the U.S. is likely to positively influence the development of the market in North America.
Asia Pacific is a lucrative market for HIV/AIDS diagnostics. High prevalence of HIV/AIDS and growing awareness about rapid diagnostic test kits among the vulnerable population are key trends expected to boost the market value from 2023 to 2031.
Global HIV/AIDS Diagnostics Market - Competition Landscape
Presence of a large number of vendors in the HIV/AIDS diagnostics market leads to high degree of fragmentation. Leading players are making sizable R&D investments to develop new and improved products in order to consolidate their market position during the forecast period. Top players are emphasizing on product portfolio expansion to increase their market share.
Prominent companies in the HIV/AIDS diagnostics industry are Hologic, Inc., Danaher Corporation, Becton, Dickinson and Company, Siemens Healthcare GmbH, OraSure Technologies, Abbott, Bio-Rad Laboratories, and F. Hoffmann - La Roche Ltd.
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HIV/AIDS Diagnostics Market Segmentation
Product
- Kits and Reagents
- Instruments
Test Type
- Nuclei Acid Tests
- Rapid Test (POC)
- ELISA
- Others
End-user
- Hospitals
- Diagnostic Laboratories
- Academic & Research Institutes
- Others
Regions Covered
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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