PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1371939
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1371939
According to Stratistics MRC, the Global HIV Diagnosis Market is accounted for $1059.6 million in 2023 and is expected to reach $1757.9 million by 2030 growing at a CAGR of 7.4% during the forecast period. HIV diagnosis refers to the process of identifying the presence of the human immunodeficiency virus (HIV) in an individual's body. It is typically accomplished through various laboratory tests that detect specific markers of the virus, such as HIV antibodies or viral genetic material in blood, saliva, or other bodily fluids. The accurate diagnosis is essential for determining an individual's HIV status, which is crucial for initiating treatment, managing the disease, and preventing its spread.
According to the World Health Organization (WHO), in 2016, around 36 million people were diagnosed with HIV globally, of which 2.1 million were reported to be cases of new HIV infections.
Since the human immunodeficiency virus (HIV), which causes acquired immunodeficiency syndrome, may be detected by HIV diagnostics, by which there is an increasing need for these services. Moreover, testing serum, saliva, or urine samples allows for the diagnosis of HIV and as these methods assist in detecting antibodies, antigens, and RNA, it is projected that sales of HIV diagnostic processes will rise. Additionally, as people become more knowledgeable about HIV, the confidentiality of the test, and appropriate counselling, the demand for HIV diagnostics is also rising. Hence, the HIV diagnostics market is anticipated to expand quickly as a result of these factors.
HIV diagnostic tests can be expensive, particularly for more sophisticated and precise testing procedures, depending on the context and type of test. Additionally, costs associated with testing can be an obstacle, especially in environments with few resources or for people without access to adequate healthcare. Consequently, this considerably disrupts the market's expansion.
Worldwide, governments are stepping up their efforts to tackle the HIV/AIDS pandemic by putting in place comprehensive plans that prioritize prevention, testing, and treatment. Additionally, these programs seek to increase the prevalence of routine HIV testing, particularly among high-risk populations, and to open up access to cutting-edge diagnostic tools. Furthermore, governments also encourage collaborations among pharmaceutical firms, non-governmental organizations (NGOs), and healthcare organizations to increase the accessibility and cost of HIV diagnostic equipment, which in turn drives market expansion as they cooperate to mitigate the burden of HIV worldwide
A lot of people, especially those who live in high-risk areas, can be unaware of the value of early diagnosis and have limited knowledge about HIV testing. Low testing rates and delayed diagnoses might be caused by a lack of education and awareness actions, hindering adequate management and prevention measures. Furthermore, false-positive results can result in too much worry and stress, while false-negative results can delay diagnosis and increase the risk of virus transmission. Thus, these factors gradually hamper the size of the market.
The global lockdown caused by the corona virus (COVID-19) pandemic has had an effect on the financial health of companies in all industries. Additionally, global supply chains and manufacturing operations have been affected as a result of government-enforced lockdowns, mobility restrictions, and other COVID-19 safety measures. Therefore, during the epidemic, the need for HIV diagnostic tests is anticipated to decline.
The instruments segment is estimated to hold the largest share, due to utilizing specialized medical tools and technology, HIV infection is detected and tracked. Additionally, these technologies enable medical personnel to precisely identify HIV antibodies or viral genetic material in patient samples. Examples of these devices include diagnostic tools including PCR machines, ELISA analyzers, and quick test readers. Moreover, these cutting-edge tools are essential for early detection, disease monitoring, and research, enabling quick and accurate HIV testing. They also assist healthcare professionals, labs, and clinics in delivering efficient diagnostic solutions, which helps to further the continuing efforts to restrict the spread of HIV. Therefore, these factors significantly drive the market's size.
The CD4 Tests segment is anticipated to have highest CAGR during the forecast period. CD4 tests are essential for controlling HIV/AIDS since they show the disease's course and measure the patient's immune system's health. Additionally, these tests assist medical professionals in deciding on a course of treatment and assessing the efficacy of antiretroviral medication. Moreover, for directing patient care and managing diseases, accurate and prompt CD4 testing is essential. Thus, it contributes to better treatment outcomes and overall quality of life for people with HIV by playing a vital role in the market for HIV diagnosis.
Asia Pacific commanded the largest market share during the extrapolated period owing to increasing awareness-raising campaigns in nations like India, China, and Japan have increased the number of HIV diagnoses. Moreover, because of shifting socioeconomic and demographic factors, there are more HIV diagnoses in these nations. Additionally, rising healthcare institution and awareness program investments are driving market expansion in the Asia Pacific region.
Europe is expected to witness highest CAGR over the projection period, owing to significant progress in boosting early detection, creating national testing policies, and increasing access to HIV testing services. Additionally, the area aims to reduce the stigma and discrimination related to HIV, which encourages people to be tested. Furthermore, governments, healthcare institutions, and NGOs working together have increased testing rates and accelerated diagnosis which thus significantly propels the market expansion in Europe region.
Some of the key players in the HIV Diagnosis Market include: Abbott Laboratories, Roche Diagnostics, Merck KGaA, Siemens Healthineers, Thermo-Fisher Scientific Inc., Beckman Coulter, Inc., Hologic Inc., Becton, Dickinson & Company , Bio-Rad Laboratories, Alere Inc., OraSure Technologies, Inc., Zyomyx Incorporation, Chembio Diagnostic Systems, Inc., Janssen Pharmaceutica NV and Bristol -Myers Squibb.
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