HIV Diagnostics Market Set for Rapid Growth | Prominent Players: Abbott Healthcare, Alere Inc, Apogee Flow Systems Ltd, BD Biosciences, Beckman Coulter

The HIV Diagnostics Market to exceed USD 4.5 billion by 2023 as per a new research report.
Growing prevalence of HIV / AIDS owing to contaminated blood transfusion, drug abuse, contaminated syringes and needles, unprotected sex and lack of awareness regarding mode of transmission will drive HIV diagnostics market growth.

Increasing public awareness pertaining to HIV testing due to various governmental and non-governmental programs will boost industry growth. For instance, CDC launched Expanded Testing Initiative comprising of three programs for increasing awareness of HIV status.

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Rising adoption of Point of Care (PoC) HIV diagnostics which can be transported and operated by non-laboratory technicians, leading to increased public access to HIV testing will serve to be a high impact rendering factor. Introduction of novel technologies providing higher diagnostic accuracy such as early infant diagnosis and viral load testing will boost adoption rate. Presence of favorable regulatory scenario will further propel market growth. For instance, Medicare covers HIV screening test conducted once in 12 months.

Less penetration in underdeveloped regions owing to lack of awareness, high costs of diagnostic tests, dearth of skilled technicians and dedicate laboratory spaces for testing should hamper industry growth.
Viral load testing should grow at a robust rate over the forecast time frame owing to ability of the test to measure the number of HIV particles in a milliliter of blood and provide information on health status and effect of antiretroviral therapy.

Early infant diagnosis market should grow at a lucrative rate owing to high death risk below 2 years of age among HIV infected infants and increasing availability of pediatric antiretroviral treatment after diagnosis. Benefits of EID such as early detection of HIV infection among infants and identification of HIV exposed infants leading to improved treatment and care should boost adoption rates.

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UK HIV diagnostics market will grow at a rapid rate over the forecast period due to presence of high HIV incidence rate. Rising public awareness pertaining to HIV testing and increased access to antiretroviral treatment will propel industry growth. Government and non-government initiatives such as National HIV testing week organized by HIV Prevention England for increasing HIV awareness and testing should escalate HIV diagnostics demand.

South Africa HIV diagnostics market should provide lucrative future opportunity. Presence of large patient pool coupled with high unmet needs will fuel industry growth. However, lack of public awareness and access pertaining to HIV diagnostics tests should restrain growth.

Notable industry players include Abbott Healthcare, Merck, Qiagen, Roche Diagnostics, BD Biosciences, Beckman Coulter, Hologic, bioMerieux, PointCare Technologies, Janssen Diagnostics and Chembio Diagnostic Systems.The industry players adopt strategies such as new product development and collaborations to enhance their market presence and enter new markets.

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This release was published on openPR.