HIV Diagnosis Market - Detailed Analysis and Forecast by 2025
HIV stands for human immunodeficiency virus, which when left unattended causes AIDS (acquires immunodeficiency syndrome). This virus attacks cells of the immune system of human body and unlike other viruses, the body can’t get rid of it completely. The growing prevalence of HIV/AIDS is by far the leading factor augmenting the global HIV diagnosis market. According to the Joint United Nations Programme on HIV and AIDS (UNAIDS), approximately 36.7 people around the world were suffering from HIV/AIDS at the end of 2015.
Global HIV Diagnosis Market: Key Trends
The soaring need for accurate and cost-effective diagnostic tests is leading to the increasing reliance on point-of-care instruments and kits. Benefits of these kits, including quick diagnosis, cost-effectiveness, robustness, and minimal equipment requirement, are driving their uptake, which in turn is escalating the growth of the global HIV diagnosis market. The growing number of blood transfusions and blood donations increases the chances of HIV infection, thus, promoting the people around the world to take diagnostic tests. Moreover, the increasing initiatives by governments worldwide are working in favor of the market. On the other hand, the high cost of the nucleic acid test (NAT) along with the lack of proper regulatory structure for NAT in developing countries is hampering the growth of the market.
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Global HIV Diagnosis Market: Market Potential
The rising preference of home access kits and instruments along with the increasing research and development activities in the field is leading to the introduction of novel homecare technologies for diagnosis of HIV infection. Advanced technologies allow simultaneous detection and quantification of multiple targets in an accurate and cost-effective manner. For instance, in November 2016, a team of researchers from the Imperial College of London and DNA Electronics coined a discreet USB stick that uses a drop of blood to diagnose HIV in patients. This home HIV testing kit is capable of providing results in 30 minutes in comparison with conventional tests that take up to two weeks to process. The introduction of such technologies for homecare setup is, therefore, unfolding immense growth opportunities for the market.
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Global HIV Diagnosis Market: Geographical Segmentation
Geographically, North America will represent a major share in the market throughout the review period. The high prevalence of HIV and increasing blood transfusions are the primary factors behind the development of the HIV diagnosis market in the region. Rising uptake of the technologically advanced diagnostic solutions, improving consumer spending power on healthcare, and growing inclination towards portable and point of care tests are also supplementing the growth of the region. In North America, the U.S. is at the forefront of growth owing to the significant budget allocated by the government for research and development in the field of HIV/AIDS testing. Moreover, favorable reimbursement policies in the U.S. are encouraging patients to uptake HIV diagnosis tests.
Asia Pacific will be an emerging market for HIV diagnosis. The presence of a large pool of patients suffering from HIV/AIDS along with the rising awareness regarding the populace is fuelling the growth of the region. The improving healthcare infrastructure in emerging economies will play a vital role in providing momentum to the market in APAC.
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Global HIV Diagnosis Market: Competitive Landscape
The majority of players in the global HIV diagnosis market are pouring funds into research and development activities to stay ahead. The market is characterized by high competitive rivalry, which is likely to intensify in the near future as more players decide to go the mergers and acquisitions way to consolidate their presence. Large players are focusing towards collaborations and agreements with smaller market entities to capitalize untapped markets. Some of the prominent companies operating in the market are Siemens Healthcare, Alere Inc., Roche Diagnostics, Danaher Corporation, Becton, Dickson and Company, Merck KgaA, and Abbott Healthcare.
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