HIV Diagnostics Market To Show Tremendous Rise In Upcoming Year

HIV Diagnostics Market is anticipated to reach USD 4.48 billion by 2022. The human immunodeficiency virus (HIV) leads to Acquired Immuno Deficiency Syndrome (AIDS). HIV attacks the immune system; thereby making one vulnerable to hoards of diseases. The factors that propel the growth of the HIV Diagnostics industry include growing number of blood transfusions and blood donations, prevalence of HIV/AIDS worldwide, assistance offered by point-of-care instruments & kits, and growing consciousness about HIV/AIDS and rising administration initiatives.

On the other hand, there are factors that may hamper the growth of the market including absence of acceptable testing labs, and restrictions of laboratory-based testing. HIV Diagnostics Market is anticipated to grow at a significant CAGR of 9.5% in the upcoming period as the scope, product types, and its applications are increasing across the globe.

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HIV Diagnostics industry may be explored by Product type, end user, test type, and geography. The market may be explored by product type as Instruments, Software and Services, Consumables, Kits, Assay, and Reagents, and the other Consumables. The “Consumables” segment led the market in 2016 and is anticipated to maintain its dominance by 2025 due to rising occurrence of HIV/AIDS, and growing enterprises from governments to fight HIV/AIDS.

The HIV Diagnostics Market could be explored based on end users as Hospitals, Diagnostics Laboratories, Home care settings, Blood banks, and Others (Gene bank, cell bank, pharma companies, and Biotechnology). The “Diagnostic Laboratories” segment led the market in 2016 and is anticipated to maintain its dominance by 2022 owing to technological developments of diagnostics laboratories, and high investment, and increasing consciousness of HIV/AIDS.

The market may be analyzed by test type as Tests for Viral Identification, Antibody Test, Viral Load Tests, Tests for Early Infant Diagnosis, and CD4 Tests. The “Antibody Tests” segment led the HIV Diagnostics industry in 2016 and is anticipated to maintain its dominance by 2022. The factors that attribute to the growth of market include consciousness about HIV, growing technological developments in HIV diagnosis.

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North America accounted for the major share of the HIV Diagnostics Market Size in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth include increasing awareness about HIV, high occurrence and prevalence of HIV/AIDS, and rising administration initiatives and growing blood donations.

Some of the key players that fuel the growth of the HIV Diagnostics industry comprise Abbott Healthcare, Alere Inc., Brsitol-Myers Squibb, Abbvie Inc., Gilead Sciences, Janssen Therapeutics, Merck & Co. Inc, BD Biosciences, bioMerieux, VIIV Healthcare, Beckman Coulter, Sysmex, Partec, Qiagen, Apogee Flow Systems, Zyomyx Inc., Roche Diagnostics, Mylan Inc., Siemens Healthcare, and PointCare Technologies Inc. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

Author: Steve

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