(PharmaNewsWire.Com, April 28, 2021 ) The HIV diagnosis market is projected to reach USD 3.88 Billion by 2021 from USD 2.35 Billion in 2016, at a CAGR of 10.5% from 2016 to 2021.
Factors Driving the Market Growth:
Factors such as the growing worldwide prevalence of HIV/AIDS, increasing number of blood transfusions and blood donations, benefits offered by point-of-care instruments and kits, and increasing government initiatives are expected to drive the growth of the market worldwide.
The HIV diagnosis market is projected to reach USD 3.88 Billion by 2021 from USD 2.35 Billion in 2016, at a CAGR of 10.5% from 2016 to 2021. The major factors driving the growth of this market are increasing prevalence of HIV/AIDS worldwide, increasing number of blood transfusions and blood donations, advancements and benefits offered by point-of-care instruments & kits, and increasing awareness about HIV/AIDS and increasing government initiatives.
The report segments this market based on product, test type, end user, and region. On the basis of product, the market is segmented into consumables (assay, kits, reagents, and other consumables), instruments, and software and services. In 2016, the consumables segment is expected to account for the largest share of the market. The frequent and repetitive purchase of consumables by laboratories and hospitals, growing prevalence of HIV/AIDS, and increasing initiatives from governments to fight HIV/AIDS are some of the major factors driving the consumables market.
On the basis of test type, the market is segmented into antibody tests, viral load tests, CD4 count tests, tests for early infant diagnosis, and tests for viral identification. The antibody tests segment is further categorized into HIV-1 screening tests, HIV-1 confirmatory tests, and HIV-2 and group O diagnostic tests. The viral load tests segment is expected to grow at the highest CAGR during the forecast period due to increasing awareness about early detection of HIV/AIDS and high accuracy of these test.
On the basis of end user, the HIV diagnosis market is segmented into diagnostic laboratories, hospitals, blood banks, home care settings, and others (gene banks, cell banks, biotechnology and pharmaceutical companies, and academic research institutes). The diagnostic laboratories segment is expected to account for the largest share of HIV diagnosis market in 2016. Increasing awareness about HIV/AIDS and advancements in PoC instruments and consumables are major drivers for this end-user segment.
On the basis of region, the market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). In 2016, North America is expected to account for the largest share of the market. Growth in this region is mainly driven by the high prevalence of HIV/AIDS, increasing number of blood transfusion and blood donations, increasing awareness about HIV/AIDS and increasing government initiatives, and technological advancements test and better offering of PoC settings.
Key players in the HIV diagnosis market include Siemens AG (Germany), Roche Diagnostics (Switzerland), Abbott Laboratories (U.S), Danaher Corporation (U.S.), Thermo-Fisher Scientific Inc. (U.S.), Merck KGaA (Germany), Becton, Dickinson and Company (U.S.), Hologic, Inc. (U.S.), Alere Inc. (U.S.), and Bio-Rad Laboratories (U.S.).
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