According to a new report published by UnivDatos Markets Insights, the HIV Diagnostics Market was valued at USD 3.5 billion in 2020 and is expected to reach, growing at a CAGR of around 9% from 2022-2028. The analysis has been segmented into Test Type (Antibody Tests, Viral Load Tests, CD4 Tests, and Others); End-User (Diagnostic Laboratories, Hospitals, and Others); Region/Country.
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The HIV Diagnostics market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the HIV Diagnostics market. The HIV Diagnostics market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the HIV Diagnostics market at the global and regional levels.
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Market Overview
An infection that attacks the body's immune system, specifically the white blood cells called CD4 cells. Human immunodeficiency virus can be diagnosed using a variety of tests. The samples of blood or saliva can be used for these tests. The growing prevalence of HIV across the globe is one of the prominent factors contributing to the growth of the HIV diagnostics market. For instance, in 2021, there were approximately 38.4 million people across the globe with HIV. Amongst these, 36.7 million were adults and 1.7 million were children (<15 years old). In addition, 54% were women and girls.
The HIV Diagnostics Market is expected to grow at a steady rate of around 9%. The market for HIV diagnostics is growing on account of the technological advancement in disease diagnostic tests, and the rising need to introduce easily accessible, efficient, and robust diagnostics tests for diagnosing HIV.
Some of the major players operating in the market include Siemens Healthineers, F. Hoffmann-La Roche Ltd, Abbott Laboratories, Danaher Corporation, Becton, Dickinson & Company, Bio-Rad Laboratories, Thermo-Fisher Scientific Inc., Merck KGaA, Hologic, Inc., OraSure Technologies.
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted the healthcare industry and has transformed the way healthcare is delivered. The HIV diagnostics market has been affected significantly during these times owing to the worldwide lockdown restrictions leading to a decrease in the number of HIV testing.
The global HIV diagnostics market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on the test type, the HIV diagnostics market is segmented into antibody tests, viral load tests, CD4 tests, and others. The viral load test segment accounted for a significant market share in 2020 and it is estimated that it will grow rapidly during the projected timeframe owing to the increasing frequency of viral load testing in ART-treated HIV patients. Also, these tests improve the efficacy of treatment and produce better results in infected individuals which in turn is also contributing to the increased demand for this test.
· Based on end-user, the market is fragmented into diagnostic laboratories, hospitals, and others. The diagnostic laboratories segment is expected to grab a considerable market share in 2020 and is expected to grow with a lucrative CAGR during the forecast period owing to the growing awareness of HIV/AIDS among the population globally. Also, rising investments, growing advancement in technology and the presence of advanced diagnostics tools in these laboratories are also some of the factors driving the market of this segment.
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HIV Diagnostics Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
For a better understanding of the market adoption of the HIV diagnostics industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. The major factors such as well-established healthcare infrastructure and the rising incidences of HIV owing to the lack of preventive techniques adopted by people in the region. For instance, In 2019, the estimated number of HIV infections in the U.S. was 34,800 and the rate was 12.6 (per 100,000 people). Furthermore, an increase in government initiatives and an increasing awareness among the population are also driving the market.
The major players targeting the market include
· Siemens Healthineers
· F. Hoffmann-La Roche Ltd
· Abbott Laboratories
· Danaher Corporation
· Becton, Dickinson & Company
· Bio-Rad Laboratories
· Thermo-Fisher Scientific Inc.
· Merck KGaA
· Hologic, Inc.
· OraSure Technologies
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the HIV Diagnostics Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the HIV Diagnostics market?
• Which factors are influencing the HIV Diagnostics market over the forecast period?
• What are the global challenges, threats, and risks in the HIV Diagnostics market?
• Which factors are propelling and restraining the HIV Diagnostics market?
• What are the demanding global regions of the HIV Diagnostics market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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