HIV Diagnostics Market to cross USD 5 bn by 2024| Top Players: Abbott Healthcare, Alere Inc, Apogee Flow Systems Ltd, BD Biosciences
Sellbyville, DE -- (SBWIRE) -- 05/14/2019 -- Global HIV Diagnostics Market is estimated to cross USD 4.9 billion by 2023; as per a new research report by Global Market Insights, Inc. Increasing prevalence of HIV infection worldwide will majorly boost HIV diagnostics market growth over the forecast period. HIV infection is one of the leading causes of morbidity and mortality. As per the UNAIDS's data more than 36.7 million people across the globe were living with HIV in 2017. Around 1.8 million children aged below 15 years had HIV infection. Additionally, many were infected by their HIV-positive mothers during pregnancy, childbirth or breast-feeding. Growing incidences of AIDS especially in the developing and underdeveloped economies will offer several growth opportunities in HIV diagnostics resulting in industry growth.
Favorable regulatory landscape for HIV diagnostics will render positive impact on business growth. The U.S. FDA assesses performance and clinical value of blood screening and HIV diagnostic assays. It conducts regulatory study to create product standards and develop improved diagnostic methods to examine safety of biologics and drugs. FDA's multi-disciplinary research programs plays an important role in the development of test kits, vaccines, and therapeutic agents for use in AIDS and related conditions. Hence, government support coupled with favorable reimbursement scenario for HIV diagnostics will further accelerate HIV diagnostics market growth.
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Low-and middle-income Economies are the most potential yet underpenetrated avenue for the HIV diagnostics market players
As per UNAIDS, low-and middle-income countries have the highest ratio of people living with HIV. In 2017, 53% of the overall HIV-infected patient base were living in eastern and southern Africa, 16% in western and central Africa, 14% in Asia, and 6% in western and central Europe and North America. The statistics are a validation to the penetration scope of HIV diagnostics market participants in the low-and middle-income countries. These countries undoubtedly can be one of the most prominent recipients of the POC self-tests diagnostic approach, given a large pool of population in these countries burdened with either the unawareness of the epidemic or lack of treatment accessibility.
Simple amplification based assay - a blood diagnostic kit created by Cambridge university scientists received the "Popular Prize "at European Inventor award ceremony held on June 9, 2016 by European patent office. This kit can identify ailments like hepatitis B and HIV within less than 90 minutes by taking blood sample of the patient. The test cost only $17 and is same as pregnancy test where one stripe is positive and second is negative. This kit was used to test 40,000 persons for HIV in rural Africa. According to Helen Lee, who headed the team of Cambridge university researchers to develop the device, said that just a single drop of blood sample helps in detecting and treating the ailments in rural areas.
Thailand has become the first Asian nation to eradicate mother to child HIV transmission as per WHO reports achieving a greater milestone in its fight against the dreaded disease. Describing the eradication as an outstanding achievement, WHO said that Thailand was the first nation with large HIV endemic to assure an AIDS free population. This pronouncement is a boost for Thai health workers who have changed the country from one of the Asia's most HIV ravaged communities to pin up the problem of efficiently handling the disease. According to WHO, routine screening tests conducted for HIV infected pregnant women along with free medication facilities in the country played a key role in preventing transmission of HIV virus from mother to child. The global HIV diagnostics market is segmented into key geographical regions including North America, Asia Pacific, Latin America, Europe and MEA.
Prominent industry players operating in the HIV diagnostics market include Siemens Healthineers, Merck, PointCare Technologies, Roche Diagnostics, Sysmex Partec, Qiagen, Cepheid, Hologic, ChemBio Diagnostics, Abbott, Alere, Apogee Flow Systems, BD Biosciences, Beckman Coulter Biomedical and Biomerieux. Key industry players majorly focus on several strategic initiatives including new product launch, partnership, merger and acquisitions to strengthen their market position and capitalize on market opportunities.
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Chapter 1. Methodology
1.2. Market definitions
1.3. Forecast parameters
1.4. Data sources
18.104.22.168. Paid sources
22.214.171.124. Unpaid sources
Chapter 2. Executive Summary
2.1. HIV diagnostics industry 3600 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Regional trends
Chapter 3. HIV Diagnostics Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry impact forces
3.3.1. Growth drivers
126.96.36.199. Favorable regulatory landscape in the U.S.
188.8.131.52. Point-of-care (POC) HIV diagnostics development
184.108.40.206. Increasing number of blood transfusions and blood donations
220.127.116.11. Rising AIDS/HIV prevalence in low and middle-income countries
18.104.22.168. Increasing government initiatives for HIV awareness
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TABLE 1 HIV diagnostics industry 360º synopsis, 2013 – 2024
TABLE 2 HIV diagnostics market, 2013-2017 (USD Million)
TABLE 3 HIV diagnostics market, 2018-2024 (USD Million)
TABLE 4 HIV diagnostics market, by product, 2013-2017 (USD Million)
TABLE 5 HIV diagnostics market, by product, 2018-2024 (USD Million)
TABLE 6 HIV diagnostics market, by region, 2013-2017 (USD Million)
TABLE 7 HIV diagnostics market, by region, 2018-2024 (USD Million)