MELBOURNE, Jan. 16, 2023 (GLOBE NEWSWIRE) -- Data Bridge Market Research has recently published a Report, titled, "Human Immunodeficiency Virus (HIV) Diagnosis Market" The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segments, Porter's Five Forces analysis, and competitive landscape. The comprehensive industry research on Human Immunodeficiency Virus (HIV) Diagnosis Market published by Data Bridge Market research includes growth analysis, regional marketing, challenges, opportunities, and drivers analyzed in the report. The report carefully examines the global Human Immunodeficiency Virus (HIV) Diagnosis Market, with a focus on most of the major players and their business strategies, geographical scope, market segments, product landscape and price, and cost structure. Human Immunodeficiency Virus (HIV) Diagnosis Market report encompasses different industry verticals for the Human Immunodeficiency Virus (HIV) Diagnosis industry such as company profile, contact details of the manufacturer, product specifications, geographical scope, production value, market structures, recent developments, revenue analysis, market shares and possible sales volume of the company.
Data Bridge Market Research analyses that the human immunodeficiency virus (HIV) diagnosis market which is USD 2.86 billion in 2022, is expected to reach USD 6.13 billion by 2030, at a CAGR of 10.00% during the forecast period 2023 to 2030.
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Market Overview: -
HIV, also known as human immunodeficiency virus, is a virus that interferes with the function of cells in the body that protect against harmful diseases and infections. HIV infection is contagious and can be spread through contact with infected blood, sperm, or vaginal fluids. Human immunodeficiency virus (HIV) is thus a medical technology used to determine whether a person is HIV positive or negative.
One of the major factors driving the increase in demand for Human immunodeficiency virus (HIV) systems is the rise in the prevalence of HIV infection. Rising expenditure for research and development proficiencies by the major healthcare companies coupled with increasing application of HIV antigen, nucleic acid testing and viral load testing will further generate lucrative and remunerative growth opportunities for the market. Rising adoption of advanced healthcare technological solutions and increased government initiatives to raise awareness will be important market growth determinants.
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Opportunities:
- Increase in popularity of home-use Human immunodeficiency virus (HIV) devices
The USFDA has recently approved a few home-based diagnosis kits that can provide an HIV test result in 20 to 40 minutes without sending the test sample to a laboratory. Home-based diagnostic devices are gaining popularity in countries such as the United States and the United Kingdom over standard laboratory-use devices because they are more convenient to use, cost less, and save time. Many people are hesitant to visit their doctor or a healthcare facility to be tested for AIDS, even if they have been engaging in behavior that puts them at risk of infection. One of the reasons for their reluctance is the social stigma associated with HIV.
Some of the major players operating in the Human Immunodeficiency Virus (HIV) Diagnosis Market are:
- Abbott (U.S.)
- Bio-Rad Laboratories Inc. (U.S.)
- QIAGEN (Germany)
- Bayer AG (Germany)
- OraSure Technologies, Inc. (U.S.)
- Sysmex Corporation (Japan)
- Meridian Bioscience (U.S.)
- Biogate Laboratories Ltd. (Canada)
- J. Mitra & Co. Pvt. Ltd (India)
- General Biologicals Corporation (Taiwan)
- BioGenex (China)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Mylan N.V. (U.S.)
- Siemens Healthcare GmbH (Germany)
- Thermo Fisher Scientific Inc. (U.S.)
- Ortho Clinical Diagnostics (U.S.)
- Quest Diagnostics Incorporated (U.S.)
- Abcam Plc (U.K.)
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Critical Insights Related to the Human Immunodeficiency Virus (HIV) Diagnosis Market Included in the Report:
- Exclusive graphics and Illustrative SWOT analysis of some of the leading companies in Human Immunodeficiency Virus (HIV) Diagnosis Industry
- Value chain analysis of prominent players in the market
- Current trends influencing the dynamics of this market across various geographies
- Recent mergers, acquisitions, collaborations, and partnerships
- Revenue growth of this industry over the forecast period
- Marketing strategy study and growth trends
- Growth-driven factor analysis
- Emerging recess segments and region-wise market
- An empirical evaluation of the curve of this market
- Ancient, Present, and Probable scope of the market from both prospect value and volume
Human Immunodeficiency Virus (HIV) Diagnosis Market Dynamics:
- Several developments and improved HIV diagnostics test kits
The growing awareness and accessibility of improved HIV diagnostics kits, especially in low and middle-income countries will propel the HIV diagnostics market statistics. Furthermore, several regulatory authorities approving advanced products to combat the high HIV disease burden will stimulate overall market growth. Furthermore, several market participants are heavily investing in R&D activities for the development of advanced HIV diagnostic kits, which will boost the industry's growth potential.
With rising HIV prevalence rates and a surge in demand for HIV diagnostic tests in underdeveloped and developing countries, the market is expected to see lucrative growth opportunities diminish during the forecast period.
- Growing repetitive usage of viral load testing in HIV patients with ART
A viral load test is a laboratory test that is used to determine the viral load in a patient's body. The term "electronic commerce" refers to the sale of electronic goods. High usage of viral load test is performed repeatedly to monitor viral load in the patients undergoing ART treatment. These tests can now be performed outside of laboratories using advanced point-of-care molecular testing. Furthermore, the presence of key industry players in the segment and a strong product portfolio will drive segmental demand.
For instance, in 2019, Roche Diagnostics launched Cobas plasma separation card for viral load testing. This has helped to expand the company's HIV diagnostics product portfolio. Thus, several developments in the segment will boost the adoption of viral load tests.
Restraints/Challenges:
- High cost:
The high costs associated with the Human immunodeficiency virus (HIV) technological system, will hamper the market growth rate. A shortage of skilled medical professionals will also hamper the Human immunodeficiency virus (HIV) diagnosis market.
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Human Immunodeficiency Virus (HIV) Diagnosis Market Regional Analysis/Insights
The human immunodeficiency virus (HIV) diagnosis market is analyzed and market size insights and trends are provided by country, product type, test type and application as referenced above.
The countries covered in the Human Immunodeficiency Virus (HIV) Diagnosis Market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the human immunodeficiency virus (HIV) diagnosis market due to the increased need for effective healthcare services brought on by the high prevalence of HIV infection and expanding healthcare infrastructure.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 owing to the growing acceptance of HIV self-testing kits.
Human Immunodeficiency Virus (HIV) Diagnosis Market Scope:
By Product Type
- Consumables
- Assay
- Kits and Reagents
- Other Consumables
- Instruments
- Software
- Services
By Test Type
- Antibody Tests
- HIV-1 Screening Tests
- HIV-1 Confirmatory Tests
- HIV-2 Group-o-Diagnostic Tests
By Application
- Diagnostic Laboratories
- Hospitals
- Blood Banks
- Home Care Settings
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Human Immunodeficiency Virus (HIV) Diagnosis Market: Regulations
- Market Overview
- Global Human Immunodeficiency Virus (HIV) Diagnosis Market, By Product Type
- Global Human Immunodeficiency Virus (HIV) Diagnosis Market, By Test Type
- Global Human Immunodeficiency Virus (HIV) Diagnosis Market, By Application
- Global Human Immunodeficiency Virus (HIV) Diagnosis Market, By Region
- Global Human Immunodeficiency Virus (HIV) Diagnosis Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
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