by The HIV Diagnostics Test Market is estimated to be valued at US$ 14.05 Mn in 2023 and is expected to exhibit a CAGR of 9.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
HIV diagnostics tests are performed to detect the presence of HIV antibodies or antigens in the blood or oral fluid. The main types of HIV diagnostic tests include antibody tests, antigen tests, antibody-antigen tests, and viral load tests. Antibody tests detect antibodies produced by the immune system in response to HIV infection in the blood. Antigen tests directly detect antigens or proteins on the surface of the virus. Rapid diagnostic tests are also available which can detect antibodies within 20 minutes.
Market Dynamics:
Growing awareness initiatives by governments and NGOs regarding HIV/AIDS prevention, screening, and treatment is a major driver fueling growth of the HIV diagnostics test market. According to UNAIDS, in 2020, around 38 million people were living with HIV globally, with 1.5 million new infections and 680,000 AIDS-related deaths. As a result, governments and private organizations are undertaking various awareness campaigns to encourage people to get screened and seek treatment. Additionally, development of low-cost rapid diagnostic tests is also propelling the market growth. Most rapid tests can detect antibodies in oral fluid or finger-prick blood samples in 20 minutes without any specialized equipment. This has increased accessibility and uptake of HIV testing in low-resource settings. However, social stigma associated with HIV/AIDS diagnosis remains a challenge, thereby restraining the market growth.
Segment Analysis
The HIV diagnostics test market can be segmented into test type, end user, and region. Based on test type, the market is segregated into antibodies test, viral load test, CD4 count test, test for early infant diagnosis, and test for viral identification. The viral load test segment dominates the segment as it is the gold standard for detecting HIV and monitoring treatment progress. It provides precise information on the amount of HIV in the blood and how well medication is working to suppress the virus.
PEST Analysis
Political: Governments across various countries are increasing funding for HIV/AIDS diagnostics and treatment. The increasing government support is encouraging market growth.
Economic: The rising disposable incomes have increased healthcare spending. People are willing to spend more on their health, which is propelling the HIV diagnostics test market forward.
Social: Non-governmental organizations are creating awareness about HIV testing. This is helping in early detection and management of the disease.
Technological: Rapid diagnostic tests play a pivotal role in increasing testing rates. They provide accurate results in 20-40 minutes and are convenient to use. Advancements in rapid tests are fueling market expansion.
Key Takeaways
The Global HIV Diagnostics Test Market Size is expected to witness high growth, exhibiting a CAGR of 9.0% over the forecast period, due to increasing awareness initiatives by governments and NGOs. The market size for 2023 is projected to reach US$ 14.05 Mn.
Regional analysis: North America dominates the HIV diagnostics test market due to the rising HIV prevalence and increasing investments for advanced diagnostic technologies and facilities in the region. The regional market is estimated to exhibit strong growth over the forecast period.
Key players operating in the HIV diagnostics test market include Abbott, Bio-Rad Laboratories, Inc., Hologic, Inc., Siemens Healthineers, Roche AG, Beckman Coulter Inc., OraSure Technologies, Inc., Becton, Dickinson and Company, Merck KGaA, Chembio Diagnostic Systems, Inc., Zyomyx Incorporation, Bristol €“Myers Squibb, Janssen Pharmaceutica NV, QIAGEN N.V., and ViiV Healthcare Ltd. These players are focusing on new product launches and expansions to enhance their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
