(PharmaNewsWire.Com, August 04, 2017 ) According to the report HIV Diagnostics, published by Market Data Forecast, the global market is projected to reach USD 3.42 billion by 2021, at a CAGR of 9.5% from 2016 to 2021.
HIV Diagnostics Market stands for Human Immunodeficiency Virus. The Virus attacks and destroys the cells that make up a persons immune system, leaving their body unable to defend itself and more susceptible to contracting diseases. HIV is transmitted through sexual contact and can last for years or be lifelong. The virus infects 37 million people and kills about 1.2 million people every year. HIV virus spreads through certain body fluids that attack the bodys immune system, specifically the CD4 cells, commonly called T cells. Over time, HIV can destroy so many of these cells that the body wont be able to fight off infections and diseases.
The primary tests for diagnosing HIV and AIDs is the ELISA Test ELISA, stands for enzyme-linked immunosorbent assay, and is used to detect HIV infection. If the ELISA test is positive, the Western blot test is usually administered to confirm the diagnosis. The current standard treatment for HIV is to administer the infected person with an anti-HIV cocktail. This is combination of multiple antiretroviral medicines. Antiretroviral medicine slows the rate at which the HIV virus multiplies in the body, thus inhibiting the disease.
The HIV Diagnostics market growth is likely to propagate in the future as per current trends of increase in the prevalence of HIV/AIDS across the globe. Patterns of frequent and repetitive purchases of HIV Diagnostics consumables by laboratories and hospitals have been detected which point to a steadily increasing demand. Large number of awareness campaigns and Fundraisers for the cause has prompted increasing initiatives from the government which include grants for research and other methods to promote research into finding new and easy diagnostic tests for those with HIV. An increasing number of blood donation campaigns to ensure hospitals are stocked with a decently large blood supply are also creating a demand for HIV diagnostic tools as testing of the blood before donation is of the utmost importance. High investments and many technological advancements have been spotted and show a promising future outlook for the market.
HIV is found to be a common disease, especially in resource limited areas owing to low health awareness among the population. Successful implementation of antiretroviral treatment [ART] program allows people with HIV to live significantly longer, thus increasing percentage of HIV-infected people in their surroundings. This shows an increase in demand and need for quick and simple to use HIV Diagnostics tests. Consumables used in HIV Diagnostics accounted for the largest market share in 2016. Also, usage of such diagnostics in laboratories is much more than usage in hospitals or clinics partly due to increasing blood donations.
Currently used method of treatment for HIV is the Anti-retroviral cocktail which has been in use for a while but recently there have been many breakthroughs in using monoclonal antibodies to treat HIV. The standard treatment diminishes the HIV cells capability to multiply, but the treatment with antibodies could possibly target and destroy the virus cells. This treatment may be perfected and standardized in the years to come.
HIV Diagnostics Market: Region-wise Outlook
On the basis of geography, the global market is analyzed under the various regions namely North America, Europe, Asia-Pacific and Rest of the World. HIV Diagnostics Market is dominated by North America, with the overall market share of over 38% globally. The North America is followed by Asia pacific. Asia Pacific is predicted to grow at a rapid pace in the coming few years, because of its high unmet demand in India and China. Growth of the North American Market is primarily driven by the high incidence and prevalence of HIV/AIDS, increasing awareness about the disease, growing government initiatives, and increasing blood donations.
Key Questions Answered
What is the current and future HIV Diagnostics market outlook in North America? What trends are affecting the North American market?
What is the competitive landscape and market share of major players in the HIV Diagnostics market in North America?
What are the key market segments that currently occupy the highest market share? Which market segments are growing the fastest?
What challenges are restraining the growth of the HIV Diagnostics market? How will emerging technologies answer these challenges?
What is physician perception and market outlook of HIV Diagnostics?
HIV Diagnostics Market: Key Players
Major players in the market include Abbott Healthcare, Alere Inc., Brsitol-Myers Squibb, Abbvie Inc., Gilead Sciences, Janssen Therapeutics, Merck, BD Biosciences, VIIV Healthcare, Beckman Coulter, Partec, Sysmex, Apogee Flow Systems, Zyomyx Inc., Mylan inc., PointCare Technologies Inc., Roche Diagnostics, Qiagen, Siemens Healthcare, and bioMerieux dominated HIV diagnostics market share in 2015.
Reasons to buy HIV Diagnostics Market Report:
Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porters Five Forces Analyses
A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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