The global HIV diagnostics market growth will be augmented by the escalating prevalence and risk of aids across the emerging economies.
The global HIV diagnostics market growth will be augmented by the escalating prevalence and risk of aids across the emerging economies. According to the WHO, the number of people living with HIV infection was estimated to be nearly 38 million in 2019 globally.
Because of several initiatives taken by international organizations to respond to HIV and advances in medical science, nearly 53% of children and 68% of adults affected by HIV globally were receiving lifelong antiretroviral therapy (ART) during the same year. The presence of favorable government regulations and fair reimbursement policies will certainly improve the accessibility to HIV diagnostic solutions.
According to a Global Market Insights, Inc., report, HIV diagnostics market size will exceed US$5 billion by 2024.
Growing need for HIV point of care testing (POCT)
HIV point of care test (POCT), which is used to screen HIV antibodies, provides rapid test results. Advancements in HIV testing technologies and associated diagnostics will result in increased adoption of POCT in the forthcoming years.
The adoption of HIV diagnostic solutions will be further augmented by the need to merge testing methodologies systematically and cost-efficiently into existing clinical algorithms and laboratory networks. The limited access to lifesaving treatments in low-income countries may result in the lower market penetration of HIV diagnostic tests in these regions, affecting the industry expansion.
Increasing awareness towards HIV antibody tests
The HIV antibody tests segment held more than 33% of the market share in 2017 and is projected to grow substantially in the coming years. The rising number of HIV-infected cases across the globe and the availability of various HIV antibody tests such as home and rapid tests for early diagnosis of HIV would support its widespread adoption.
The unprecedented efforts from various social organizations to create awareness about HIV and its symptoms and to encourage people towards regular blood tests will positively impact the growth of the HIV diagnostics market.
To access sample pages of this report titled, “HIV Diagnostics Market Size By Product {Antibody Tests [HIV-1 Screening Tests (ELISA/EIA, Home Access Dried Blood Spot, Rapid Tests), HIV-1 Confirmatory Tests (Western Blot Test, Indirect Immunofluorescent Antibody Assay (IFA), Line Immunoassay (Cnf), Radioimmunoprecipitation Assay (RIPA)), HIV-2 & Group O Diagnostic Tests (Blood Antibody Test, Dried Blood Spot (DBS) Test, Line Immunoassay (HIV-2)], Viral Identification Assays (p24 Antigen Tests, Qualitative PCR Tests, Viral Culture), CD4 Testing, Viral Load Testing, Early Infant Diagnosis}, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents, please click on the link below:
https://www.gminsights.com/request-sample/detail/491
Ongoing advances in HIV viral load testing
Reportedly, the viral load testing segment is poised to grow significantly at a 9.2% CAGR up to 2024. The product adoption will be driven by the rising necessity to detect the presence of HIV infection in the human body.
There is increased availability of several technologically advanced tests such as branched DNA (bDNA), reverse transcription-polymerase chain reaction (RT-PCR), and nucleic acid sequence-based amplification assay (NASBA) for the identification of HIV viral load in the blood providing. These helps provide accurate test results and will aid in the effective treatment of the patients.
Increasing occurrence of AIDS in South Africa and the U.S.
Favorable regulatory norms, a strong presence of leading biotech firms, and rising healthcare expenditure in the U.S. will create a favorable environment for HIV testing products in the country. The escalating prevalence of HIV infection along with an increased awareness regarding its diagnosis, and treatment are some major factors driving the regional HIV diagnostics market growth.
Notably, the U.S. dominated the North America HIV diagnostics market in 2017, capturing a revenue share of US$876.8 million. South Africa HIV diagnostics market size is projected to grow at an 8.8% CAGR in the coming years, on account of the rising prevalence of AIDS in the country. As per the UNAIDS, the number of people living with HIV infection in the country was more than 7 million in 2017.
Several governmental and non-governmental initiatives to spread awareness about the importance of HIV diagnosis in the country will complement the regional outlook.
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