Oct 21, 2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the HIV Diagnosis Market.
It was estimated prior to this unanticipated outbreak that the HIV Diagnosis Market to projected to grow from USD 3.12 billion in 2020 to USD 5.28 billion by 2026 at a CAGR of over 9.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Diagnosis of a blood sample to check the presence of HIV (Human Immunodeficiency Virus) in humans is regarded as HIV diagnosis.
The diagnosis of HIV helps to detect the presence of HIV that causes AIDS (Acquired Immunodeficiency Syndrome). This is carried by conducting tests on saliva, serum, or urine samples. These tests can detect antigens, antibodies, or RNA.
The growing prevalence of HIV/AIDS across the globe, significant technological developments, rising number of blood donations & blood transfusions that cause infections, rising government initiatives, and benefits offered by point-of-care instruments & kits are some of the key factors augmenting the market growth.
Moreover, recent advancements of simple rapid assays with visual testing coupled with easy handling home sample collection methods offer lucrative opportunities to the industry players. However, lack of mandates and high cost of Nucleic Acid Testing (NAT) in emerging countries are likely to hinder the market expansion.
The COVID-19 pandemic has negatively affected the HIV diagnosis industry. Government bodies across the globe are focusing to curb the COVID-19 with important measures, such as nationwide lockdowns, social distancing, and large-scale quarantine to prevent the spread of the coronavirus. The number of tests conducted on whole blood donations, semen donations, and source plasma donations has been adversely impacted in 2020 due to COVID-19. For instance, the HIV tests market in the South plummeted to about 30% in 2020 due to the COVID-19 pandemic.
Based on test type
The global HIV Diagnosis Market has been segmented into antibody tests, viral identification assays, CD4 testing, viral load testing, and early infant diagnosis.
- Among these, the antibody tests segment accounted for the largest market share in 2020 and is likely to register a healthy CAGR during the forecast timeline.
- This is mainly ascribed to the increasing awareness about HIV, rising technological advancements in HIV diagnosis, and growing blood donations, thereby bolstering the segment growth.
The North American market held the highest market share in 2020 and is estimated to grow at a steady CAGR during the assessment period. This can be attributed to the presence of a technologically advanced healthcare framework, supportive reimbursement policies, and relatively higher healthcare expenditure in research and development, and the high prevalence of HIV thereby proliferates the industry growth in the region.
The key players in the market are:
- Abbott (The U.S),
- Apogee Flow Systems Ltd. (UK),
- Atomo diagnostics (Australia),
- BD Biosciences (The U.S),
- Beckman Coulter Inc. (The U.S),
- BioMerieux SA (France),
- Cepheid (The U.S),
- ChemBio Diagnostics Inc. (The U.S),
- Daktari Diagnostics, Inc. (The U.S), and
- Hologic Inc. (The U.S).
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The HIV Diagnosis analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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