HIV Diagnostics Market Analysis, Competitive Strategies and Forecasts to 2024
By Market Study Report  Date: 2020-08-27Product ID: 467735

HIV Diagnostics Market Analysis, Competitive Strategies and Forecasts to 2024 Latest updates on HIV Diagnostics market, a comprehensive study enumerating the latest price trends and pivotal drivers rendering a positive impact on the industry landscape. Further, the report is inclusive of the competitive terrain of this vertical in addition to the market share analysis and the contribution of the prominent contenders toward the overall industry.

Growing prevalence of HIV across the globe will drive HIV diagnostics industry growth during the forecast period. According to the UNAIDS?s data in 2017, more than 35 million people across the world, were living with HIV. Additionally, about 1.8 million new cases were diagnosed with HIV infection in 2017. This will surge the demand for HIV diagnostics thereby positively influencing the business growth. Favorable regulatory scenario coupled with fair reimbursement for HIV diagnostics will further spur HIV diagnostics market in the coming years.

Moreover, HIV point of care test (POCT) used to provide quick results and approved for screening will accelerate industry growth. Improved access to HIV tests and associated diagnostics will increase adoption of POCT during forthcoming years. Growing need to combine these technologies efficiently and cost-effectively into existing laboratory networks and clinical algorithms will favor HIV diagnostics business growth. However, low penetration of HIV diagnostics in under-developed or poorly resourced countries due to limited access to lifesaving treatments may impede the industry growth in the foreseeable future.

HIV Diagnostics Market will exceed USD 5 billion by 2024; as per a new research report.

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Viral load testing segment is projected to experience lucrative CAGR of 9.2% over the forecast period. Growing need for early detection of HIV infection and monitoring treatment progress will fuel viral load testing market growth. Growing technological advancements such as branched DNA (bDNA), nucleic acid sequence-based amplification assay (NASBA) and reverse transcription polymerase chain reaction (RT-PCR) to determine blood HIV viral load will augment the segment growth.

U.S. HIV diagnostics market held the largest revenue in North America valued at USD 876.8 in 2017 and will grow significantly over the forecast timeline. Growth is attributable to increasing prevalence of HIV infection in the country coupled with high awareness among people regarding HIV diagnosis and treatment. Moreover, strong foothold of key industry players in the U.S., and regulatory support coupled with high healthcare expenditure will favor HIV diagnostics business growth.

Antibody tests segment accounted for more than 33% revenue share in 2017 and is expected to show considerable growth over forecast period. The growth is attributable to rising incidences of HIV infection across the globe. Availability of several antibody tests such as rapid and home tests for early HIV detection will further increase its adoption over the coming years. Rising awareness among people regarding regular blood tests and increasing prevalence of HIV symptoms will favor business growth.

South Africa HIV diagnostics market is estimated to grow at a lucrative CAGR of 8.8% during the analysis period. High prevalence of AIDS in South African population will offer several growth opportunities for business growth. According to the UNAIDS, more than 7 million people were living with HIV infection in 2017. Initiatives undertaken by various government and non-governmental organizations to create awareness and increase HIV diagnosis in the country will further accelerate industry growth.

Some of the players operating in HIV diagnostics market are Siemens Healthineers, Merck, Sysmex Partec, PointCare Technologies, Alere, Qiagen, Apogee Flow Systems, Cepheid, Roche Diagnostics, Hologic, Beckman Coulter Biomedical, ChemBio Diagnostics, Abbott, Biomerieux and BD Biosciences. Prime focus of the industry players is on inorganic strategies including acquisitions, merger, partnership and new product launch to strengthen their existing product portfolio and maintain market position.

Major Highlights from Table of contents are listed below for quick lookup into HIV Diagnostics Market report

Chapter 1. Methodology and Scope

  • Definitions & forecast parameters
  • Methodology and forecast parameters
  • Data Sources

Chapter 2. Executive Summary

  • Business trends of HIV Diagnostics Market
  • Product trends
  • Application trends

Chapter 3. HIV Diagnostics Industry Insights

  • HIV Diagnostics Market Industry segmentation
  • Industry landscape
  • Analysis of Manufacturers in the HIV Diagnostics industry
  • Distribution channel analysis
  • End-use landscape
  • Vendor matrix
  • HIV Diagnostics Market Technology & innovation landscape
  • Industry impact forces
  • HIV Diagnostics Market Growth drivers
  • Industry pitfalls & challenges
  • Key trends by Segments

Chapter 4. Company Profiles

  • Business Overview of HIV Diagnostics Market Companies
  • Financial Data
  • Product Landscape
  • Strategic Outlook and Decisive Analysis of companies in HIV Diagnostics Market
  • SWOT Analysis

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