According to the latest market report published by Credence Research, Inc. “HIV/AIDS Diagnostics Market – Growth, Future Prospects, and Competitive Analysis, 2017 – 2025,” the global HIV/AIDS diagnostics market was valued at US$ 3,790.2 Mn in 2016, and is expected to reach US$ 8.718.8 Mn by 2025, expanding at a CAGR of 9.4% from 2017 to 2025.
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There are around 36.7 million people suffering from HIV infection in 2015 (WHO studies). The burden of HIV/AIDS increases with time, varies according to region and the countries, where Sub Saharan Africa leads with 1 in 25 people living with HIV. There is global efforts been put to create awareness, build health community and society to prevent HIV and aid in treatment of HIV affected people. The global HIV/AIDS diagnostics market is expected to further grow during the forecast period due to factors such as rising in incidence of HIV infections, awareness about available diagnostic and treatment options and technological advancement in diagnostic tests. HIV diagnostic tests have evolved over the period of time by reducing the window period for result delivery. Use of rapid test for HIV diagnosis has increased their coverage to peripheral areas with minimum specialised facility. Enhanced accuracy of the tests and simple usage has further attracted people to get tested and easy access to the healthcare. In developing countries such as China, India and others, with growing population, rising awareness, government initiatives in prevention and management of HIV-AIDS, the market will witness further growth.
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The HIV/AIDS diagnostics market mainly consists of antibody test, HIV-2 & Group O diagnostic tests, viral load tests, CD4 testing, early infant diagnostics, viral identification testing. Antibody test will continue to occupy dominant position through the forecast period. As of the current market scenario, North America followed by Europe dominate the global HIV/AIDS diagnostics market due to increasing incidence of HIV infected population, technological advancement in diagnostic and treatment for AIDS, awareness programs and government aided healthcare initiatives and access. Asia Pacific is the fastest growing regional market driven by factors such as rapidly increasing HIV population, rising awareness about HIV and blood transfusion risks, improvement in healthcare infrastructure in emerging economies.
Market Competition Assessment:
Key players in the HIV/AIDS diagnostics market are Abbott Laboratories, Abbvie, Inc., Alere, Inc., Apogee Flow Systems, Beckman Coulter, Inc., Becton, Dickinson & Company, BD Biosciences, Bio-Rad Laboratories, Bio-Rad Laboratories, Bristol-Myers Squibb, Cepheid, Chembio Diagnostic Systems, Daktari Diagnostics, Gilead Sciences, Hologic, Inc., Merch & Co., Inc, Mylan, Inc., Janssen Therapeutics, Partec, PointCare Technologies, Inc., Qiagen, Roche Diagnostics, Siemens Healthineers, Sysmex, Thermo-Fisher Scientific Inc., VIIV Healthcare, Zyomyx, Inc. and others
Key Market Movements:
– Rise in prevalence of HIV/AIDS, government and non-government initiative in early diagnosis, treatment and prevention, efforts to reduce AIDS incidence, increased research and development, clinical trials for HIV vaccines which would drive the diagnostic market.
– With advent of technology, advanced and novel products in HIV-AIDS diagnostic and treatment are available, that are more accurate and cost effective, point of care testing kit which would further drive the HIV/AIDS diagnostic market.
– The novel technologies such as early infant diagnosis, viral load testing, viral identification testing are expected rise the demand of market.
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