HIV Diagnostics Market to Reach USD 9.02 Billion, Globally by 2030 at a CAGR of 9.9% | Reports and Data

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HIV Diagnostics Market to Reach USD 9.02 Billion, Globally by 2030 at a CAGR of 9.9% | Reports and Data

September 28
15:18 2022
HIV Diagnostics Market to Reach USD 9.02 Billion, Globally by 2030 at a CAGR of 9.9% | Reports and Data
HIV Diagnostics Market
The global Human Immunodeficiency Virus (HIV) diagnostics market size is expected to reach USD 9.02 Billion in 2030 and register a revenue CAGR of 9.9% over the forecast period

The global Human Immunodeficiency Virus (HIV) diagnostics market size is expected to reach USD 9.02 Billion in 2030 and register a revenue CAGR of 9.9% over the forecast period, according to the latest report by Reports and Data. Rapid advancements in the healthcare sector for the development of innovative and self HIV diagnostics kits are driving global HIV diagnostics market revenue growth.

Various approaches for HIV prevention include testing and counseling for STIs and HIV, elimination of mother-to-child transmission, and use of therapies and antiretroviral drugs for prevention. The emergence of Point-of-Care (POC) testing in HIV diagnosis has led to the healthcare industry leveraging new innovations in POC instruments via R&D. POC devices are easy to operate and maintain and can be transported conveniently. Recent advancements in POC testing has resulted in the development of antiretroviral therapy (ART), Cluster of Differentiation 4(CD4) tests, HIV Rapid Diagnostic Tests (RDTs), Viral Load (VL) testing, and HIV early-infant diagnosis tests. Moreover, rising need for HIV testing kits and increase in research and development activities in countries such as India, China, and Indonesia are factors expected to boost growth of the market during the forecast period.

However, limited access and high cost of HIV diagnostics methods in underdeveloped and low-income countries are factors expected to hamper market growth during the forecast period.

Some Key Highlights from the Report:

  • Software & services segment is expected to register rapid growth rate during the forecast period. Increasing demand for Machine Learning (ML) and Artificial Intelligence (AI) has led private companies to adopt diagnostics measures using software that not only helps to keep a record of the data and diagnostics reports of several people but also can locate individuals who are suffering from the disease, which in turn help government and other organization to provide help and assistant to that individual in a short span of time.
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  • Antibody tests segment accounted for largest market revenue share in 2021 and is expected to register rapid growth rate during the forecast period owing to increasing technological advancements in HIV diagnosis products, growing awareness about HIV and its related diseases, and increasing blood donations in hospitals and blood donation camps. Antibody tests search for antibodies in the blood or oral fluid to fight HIV. Antibody tests take around 23 to 90 days to detect HIV infection after exposure.
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  • HIV diagnostics market in North America accounted for largest revenue share in 2021 owing to presence of well-established healthcare infrastructure and HIV diagnostics kit manufacturing companies in this region. Moreover, increasing awareness among the younger generation and increasing investment by the government and private players in research activities for the development of HIV diagnostics kits are factors expected to boost market growth during the forecast period.
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  • In February 2022, Siemens Healthineers and the United Nations Children’s Fund (UNICEF) announced partnership, which will help to optimize Point-of-Care (POC) diagnostics networks and strengthen fragile health systems in sub-Saharan Africa by improving access to diagnostics and linkage to treatment. Together UNICEF and Siemens Healthineers will fight to prevent maternal, newborn, and child deaths and common infectious diseases such as early infant HIV, COVID-19, and tuberculosis, which will promote the health and development of all children.

 

Competitive Landscape:

The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product & service portfolio. The HIV Diagnostics market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.

Leading companies operating in the market are:

Siemens, F. Hoffman-La Roche Ltd., Abbott, Danaher, Thermo Fisher Scientific Inc., Merck KGaA, Becton, Dickinson and Company, Hologic, Inc., Bioneer Corporation, and Bio-Rad Laboratories, Ltd.

 

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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:

HIV Diagnostics Market Segmentation:

Product Outlook (Revenue, USD Million; 2019–2030)

  • Consumables
  • Instruments
  • Software & Services

End use Outlook (Revenue, USD Million; 2019–2030)

  • Hospitals
  • Home Care Settings
  • Diagnostics Laboratories
  • Blood Banks
  • Others

Test Type Outlook (Revenue, USD Million; 2019–2030)

  • Antibody Tests
  • Viral Load Tests
  • CD4 tests
  • Test for Early Infant Diagnostics
  • Tests for Viral Identification

Geographic Segment Covered in the Report:

The HIV Diagnostics report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.

• North America (the USA and Canada)

• Europe (UK, Germany, France, and the rest of Europe)

• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)

• Latin America (Brazil, Mexico, and the rest of Latin America)

• the Middle East and Africa (GCC and the rest of the Middle East and Africa)

Key market aspects are illuminated in the report:

  • Executive Summary: It covers a summary of the most vital studies, the Global HIV Diagnostics market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers.
  • Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Global HIV Diagnostics market, the years measured, and the study points.
  • Company Profile: Each Firm well-defined in this segment is screened based on a products, value, SWOT analysis, their ability and other significant features.
  • Manufacture by Region: This Global HIV Diagnostics report offers data on imports and exports, sales, production and key companies in all studied regional markets.

 

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