Growing Incidence of HIV (Human Immunodeficiency Virus) Infection Boosting HIV Diagnosis Market

The increasing prevalence of human immunodeficiency virus (HIV)/acquired immune deficiency syndrome (AIDS) and surging healthcare expenditure on HIV and related activities are two of the key factors responsible for the growth of the HIV diagnosis market.

During the forecast period (2017–2023), the market is predicted to advance at a CAGR of 10.6%. HIV diagnosis refers to the tests performed to detect the presence of HIV in human blood. HIV weakens the immune system and leads to AIDS, if not treated timely.

Based on product, the HIV diagnosis market is categorized into consumables, software & services, and instruments. Out of these, during the historical period (2013–2016), consumables dominated the market, and these are predicted to continue dominating it during the forecast period. This is attributed to the surging cost of the reagents used during HIV tests and the advent of various innovative products in the market. The consumables are further bifurcated into assays, kits & reagents, and others.

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Of these, during 2013–2016, assays, kits & reagents led the market in terms of revenue, and these are expected to maintain their lead during 2017–2023, owing to the growing adoption of reagents in home as well as laboratory HIV tests. On the basis of end user, the HIV diagnosis market is broadly classified into research institutes, diagnostic laboratories, and hospitals. Among these, during the historical period, diagnostic laboratories witnessed the fastest growth in the market, and these are projected to exhibit similar growth during the forecast period.

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This is attributed to the fact that the majority of HIV tests are performed at laboratories. In addition, these laboratories provide the benefit of the latest instruments along with skilled professionals who can conduct various tests to confirm the diagnosis of HIV infection. As per the Joint United Nations Programme on HIV/AIDS (UNAIDS), the incidence of HIV/AIDS surged by 2.8 million from 2011 to 2015, and around 36.7 million people tested positive for HIV across the globe. In 2015, approximately 40.0% of the people suffering from HIV were not aware of their status.

Hence, the growing incidence of HIV/AIDS and significant healthcare expenditure on diagnosis and related activities are being witnessed as the major growth drivers of the market.

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Created on Jan 30th 2020 04:28. Viewed 296 times.

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