According to Coherent Market Insights, the global HIV diagnostics market was valued at US$ 3,050.8 million in 2018 and is expected to exhibit a CAGR of 9.2% over the forecast period (2019-2027).
Key Trends and Analysis of the HIV Diagnostics Market:
Key trends in the market include rising prevalence of Acquired Immunodeficiency Syndrome (AIDS) caused due to HIV virus, and increasing adoption of growth strategies such as acquisitions, collaborations, and product launches by the market players.
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Increasing prevalence of AIDS caused due to HIV is expected to drive growth of HIV diagnostics market during the forecast period. For instance, according to the UNAIDS, 2019, reported around 1.7 million new cases of HIV infection globally were reported in 2018.
Several market players are focused on product launches which is expected to propel the market growth. For instance, in February 2019, Hologic, Inc., a leading medical technology company, launched Aptima HIV-1 Quant Dx Assay, which is one-of-its-kind dual-claim assay used for early infant diagnosis (EID) and viral load (VL).
Moreover, increasing adoption of partnerships and distribution agreements by market players are expected to propel the market growth over the forecast period. For instance, in June 2018, Owen Mumford Ltd and Atomo Diagnostics entered into partnership to commercialize HIV rapid test in the Europe market. Under the partnership, Owen Mumford Ltd gained the commercialization rights for Atomo’s wide range of HIV rapid diagnostic tests. Moreover, in January 2018, Access Bio Inc. entered into partnership with Atomo Diagnostics for utilizing Atomo’s lateral flow diagnostic test platform, AtomoRapid with its HIV rapid tests, and commercialize it under CareStart brand in the Africa, South East Asia, South America, and other countries.
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Key Market Takeaways:
- HIV diagnostics market is expected to exhibit a CAGR of 9.2% during the forecast period (2019-2027), this is attributed to rising prevalence of AIDS and rising government initiatives and programs. For instance, according to the European Centre for Disease Prevention and Control (ECDC) report 2017, around 821,000 European population suffered from HIV infection.
- Key players are focused on adopting growth strategies such as product launches, collaborations, and acquisitions for enhancing their product offering in the potential market, which in turn is expected to propel the market growth over the forecast period. In 2018, Abbott launched a new point-of-care test called m-PIMA HIV-1/2 VL for management of human immunodeficiency virus (HIV) infection in Netherlands.
- Key players operating in the global HIV diagnostics market include Abbott Laboratories, Bio-Rad Laboratories, Inc., Hologic, Inc., Siemens Healthineers, Roche AG, Beckman Coulter Inc., OraSure Technologies, Inc., Becton, Dickinson and Company, Merck KGaA, Chembio Diagnostic Systems, Inc., Zyomyx Incorporation, Bristol –Myres Squibb, Janssen Therapeutic, QIAGEN N.V., and ViiV Healthcare Ltd.
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Detailed Segmentation:
- Global HIV Diagnostics Market, By Product Type:
- Instruments
- Reagents & Kits
- Global HIV Diagnostics Market, By Test Type:
- Screening
- Third Generation (Antibody Test)
- Laboratory-based
- Point-of-Care
- Fourth Generation (Antibody-Antigen (Ab/Ag) Test)
- Laboratory-based
- Point-of-Care
- Others
- Third Generation (Antibody Test)
- Differentiation & Confirmation Test
- Monitoring Test
- CD4 Tests
- Viral Load Tests
- Screening
- Global HIV Diagnostics Market, By End User:
- Hospitals and Clinics
- Diagnostic Laboratories
- Home Care Settings
- Others
- Global HIV Diagnostics Market, By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
- Company Profiles
- Abbott Laboratories*
- Company Overview
- Product Portfolio
- Financial Performance
- Key Highlights
- Market Strategies
- Bio-Rad Laboratories, Inc.
- Hologic, Inc.
- Siemens Healthineers
- Roche AG
- Beckman Coulter Inc.
- OraSure Technologies, Inc.
- Becton, Dickinson, and Company
- Merck KGaA
- Chembio Diagnostic Systems, Inc.
- Zyomyx Incorporation
- Bristol –Myres Squibb
- Janssen Therapeutic
- QIAGEN N.V.
- ViiV Healthcare Ltd.
- Abbott Laboratories*
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