Global HIV/AIDS Diagnostics Market: Snapshot
Competition in the global HIV/AIDS diagnostics market
is moderate. This is because there are just a few big players who have a
stronghold over the market and barriers to entry are high for aspiring
players on account of the exhaustive research procedures involved in the
development of diagnostic kits. In the next couple of years, the
competition is predicted to heat up on account of the competitive
pricing strategy leveraged by savvy companies in the market.
In order to expand further, most of the
prominent players in the global HIV/AIDS diagnostics market have banked
upon carefully considered mergers and acquisitions and launch of better
products. Driving growth in the market is the increasing instances of
the HIV and the various initiatives adopted by government agencies and
other non-profit organizations to generate awareness about HIV.
Serving to slowdown the global HIV/AIDS
diagnostics market, on the other hand, is the lack of manifestation of
symptoms in many cases of HIV. Sometimes, it even takes over 10 years
for an HIV afflicted person to realize the existence and proliferation
of the virus inside him that destroys his/her immune system.
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A report by Transparency Market Research
forecasts the global HIV/AIDS diagnostics market to expand at a 9.3%
CAGR between 2017 and 2025 to become worth US$5.74 bn by 2025 from
US$2.606 bn in 2016.
Nucleic Acid Test Segment to Outpace Others Due to Ability to Confirm Acute HIV Infections
Depending upon the type of tests, the
global HIV/AIDS diagnostics market can be segmented into rapid tests
(POC), ELISA, nucleic acid test, and others. Currently, the rapid test
(POC) segment leads the market with a dominant share. In 2016, it held a
substantial 58.6% share in the market, and,s going forward, it will
likely increase that share marginally to 59.1% in 2025 by expanding at a
CAGR of 9.4%. The rapid test (POC) segment was worth US1.526 in 2016
and is slated to attain a value of US$3.392 bn by 2025. This test has
been seeing impressive take-up on account of the quick and accurate
results it accords, its hassle-free use, and its affordability.
In terms of growth rate, however, the
segment of nucleic acid test is predicted to surpass all others by
registering a CAGR of 9.5% between 2017 and 2025. The growth in the
segment is brought about by their use in confirming acute cases of HIV
infections by uncovering the presence of HIV RNA in human serum and
plasma samples.
Awareness Campaigns Propel North America Market to the Forefront
From a geographical standpoint, North
America is a dominant player in the global HIV/AIDS diagnostics market
which accounted for a share of 36.2% in the 2016. Rising at a CAGR of
8.7% from 2017 to 2025, the market in the region is expected to become
worth US$1.964 bn by 2025. Some of the factors catalyzing growth in the
North America market are the increasing knowledge about the diagnosis,
awareness and other campaigns carried out by the government and other
non-profit institutes, and the strong research and development
facilities. The region is primarily powered the U.S.
Asia Pacific, on the other hand, is
slated to outpace all other regions in terms of growth rate in the
global HIV/AIDS diagnostics market because of high sero-prevalence of
HIV in South and East Asia. It is projected to rise at a CAGR of 10.9%
between 2017 and 2025.
Some of the prominent players operating
in the global HIV/AIDS diagnostics market are F. Hoffman-La Roche Ltd.,
Alere, Abbott Laboratories, OraSure Technologies, Inc., Becton,
Dickinson and Company, and Siemens Healthineers.
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