HIV, also known as human immune deficiency virus, spreads through sexual contact with an HIV-infected person. It is the virus that causes AIDS, a condition wherein the body losses its immunity towards infectious diseases and succumbs to them. The HIV diagnostics market deals with all such medical instruments and tests that are utilized to detect whether a person has contracted HIV/AIDS. HIV is found in blood and other body fluids. The worldwide market is estimated to expand to about USD 4.5 billion by the end of 2022.
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The vital component which is responsible for the expansion of the HIV diagnostics market includes rising requirement for the development of more sensitive point of care tests for HIV detection. These tests can be simply adopted at the site of patient care in resource restricted settings. Technological upgradation of tests which is estimated to bring forth various point of care and novel rapid tests during the forecast phase is another prime factor, positively impacting the HIV diagnostics market.
Moreover, governmental programs and crusades against HIV and worldwide medical attempts towards reducing illnesses are likely to serve as future prospects for the market. Huge unmet needs in the Eastern and Middle Eastern regions of the world also act as future growth opportunities for the HIV diagnostics market. The worldwide market was anticipated at around USD 2, 173 million in 2014. It is likely to expand at about 9.5 percent CAGR through the forecast phase.
Rising HIV population, developments in medical technologies and growing awareness regarding HIV/AIDS are the other critical factors that push further development of the HIV diagnostics market. Shortage of medical labs with advanced facilities and scarcity of skilled medical experts capable of performing routine tests are the two main factors which prevent the market from developing further. Augmented need for easily available, fast HIV and effective diagnostics tests is also expected to propel the sales of the HIV diagnostics market.
The anticipated boost in product offerings to the worldwide market is also poised to support the sales of the market. Laboratory restrictions come in the way of the HIV diagnostics market. Intensifying promiscuous behavior involving multiple partners and growing ‘high risk category’ population also amplify the utilization of HIV diagnostics. This factor also drives further demand for the market.
HIV diagnostic tests involving the detection of antibodies to HIV occupied the biggest share in 2014. This big share can be credited to the high infiltration rates of HIV tests, such as Elisa, Rapid, Western Blot in theHIV diagnostics market. These tests are very accurate and sensitive and are utilized for the testing and confirmation of HIV. CD4 and Viral Load Testing also captured significant shares in 2014.
Rising HIV diagnostic products are estimated to further the sales of the HIV diagnostics market.North America held the biggest share in 2014. It leaded the worldwide market. This was in view of supportive repayment policies for HIV and other communicable diseases. The Asian Pacific HIV diagnostics market is projected to augment more rapidlythan the North American region through the forecast phase.
Information Source: Grand View Research