HIV/AIDS Diagnostics Market to Reach US$ 5740.0 Mn by 2024 End; Efforts of Public and Private Domain Expected to Fuel the Growth of the Market

The global HIV/AIDS Diagnostics Market was valued at US$ 2,606.4 Mn in 2016 and is expected to grow at a CAGR of over 9.0% from 2017 to 2025 owing to various factors such as increase in awareness towards HIV prevention and control, regarding which TMR offers vital insights in detail in this report.

In last few decades there has been rise in awareness among people towards prevention of HIV, both in developed as well as developing countries. Government and many non-governmental organizations are taking initiatives towards control of HIV transmission. Various programs for diagnosis are undertaken to diagnose HIV such as ‘Diagnosis Access Initiatives’ by UNAIDS which focuses on diagnosis and treatment of HIV infected people. Other campaigns such as one test two lives focuses on testing of pregnant women to minimize the number of infants born with HIV. Such initiatives will fuel the growth of the global HIV/AIDS diagnostics market in future.

Lack of expertise to carry out testing few countries is a threat to the global market, however increase in demand for HIV diagnosis will ensure the fast growth of global HIV/AIDS diagnostics market in the coming years. The global HIV/AIDS Diagnostics Market is estimated to reach US$ 5740.0 Mn by 2025 exhibiting the CAGR of 9% to 10% during the forecast period.

On the basis of product type, the global HIV/AIDS diagnostics market is segmented into kits and reagents, instruments and others. The kits and reagents segment is anticipated to dominate the global market through 2025. The segment is projected to expand at CAGR of over 9% during the forecast period. Higher penetration of point of care test kits, rising number of individuals getting tested, high prevalence of other sexually transmitted disease etc. are some of the factors driving the growth of the segment during the forecast period.

Based on test type the global HIV/AIDS diagnostics market is segmented into rapid tests, ELISA, nucleic acid tests and others. Of these rapid tests held the dominant share in the global market in 2016. User convenience, faster results, high specificity are the major factors that drive the demand of rapid tests. It is projected that this segment will continue to dominate the global HIV/AIDS diagnostics market expanding at CAGR of over 9%during the forecast period. The nucleic acid test segment is the fastest growing segment of the market due to higher specificity and its ability to detect the viral RNA at an early stage of the infection.

On the basis of end users, the global HIV/AIDS diagnostic market is segmented into hospitals, private diagnostic laboratories, academic and research institutes and others. The hospital segment is anticipated to dominate the market through 2025 owing to ever increasing numbers of hospitals, rise in pregnant women testing for HIV etc.

Based on geography, the global HIV/AIDS diagnostics market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia Pacific market was the fastest growing market for HIV/AIDS diagnostics due to government initiatives and efforts to prevent HIV. Some of the other key driving forces for HIV/AIDS diagnostics market in some emerging economies are rise in awareness towards HIV diagnosis, high prevalence in some of the Asian countries, developing healthcare infrastructure etc. In North America, U.S holds a significant share of HIV/AIDS diagnostics market, while in Europe, the U.K. and Germany hold major market share in terms of revenue. Rise in tourism leading to spread of HIV, prevalence of HIV in bisexuals and gay population are some of the key factors driving the growth of the HIV/AIDS diagnostics market in the regions.

Some of the key players operating in the global HIV/AIDS diagnostics market include Alere, Hologic, Inc., F. Hoffmann-La Roche Ltd., Bio-Rad Laboratories, Abbott Laboratories, Siemens Healthineers, OraSure Technologies, Inc., Chembio Diagnostic Systems etc. The major players in the global market are mainly focused on developing tests which are highly specific, less time consuming and cost effective.

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Name: Rohit Bhisey
Organization: Transparency Market Research

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