by The global HIV diagnostics test market is estimated to be valued at US$ 14.05 Mn or 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 diagnostic tests are used to detect the presence of HIV in an individual’s bodily fluids such as blood, saliva, urine etc. These tests detect HIV antibodies and antigens which are produced when HIV infects the body. The various types of HIV diagnostic tests available in the market include antibody tests, viral load tests, CD4 count tests, early infant diagnostics tests and others. These tests play a vital role in managing the HIV epidemic by allowing people to know their HIV status and get access to treatment and prevention services.
Market key trends:
HIV continues to remain a major public health issue, however increasing awareness campaigns and improved access to diagnostic facilities are helping to control its spread. Self-testing kits are gaining popularity as they allow individuals to test themselves in the privacy of their homes. Rapid tests which can detect antibodies within 20 minutes are being widely used for point of care testing in resource limited regions. Development of advanced early diagnostic tests to detect the virus within a few weeks of exposure is also boosting the market growth. Growing use of viral load tests to monitor treatment effectiveness and prevent drug resistance is another key trend in the HIV diagnostics test market.
Porter’s Analysis
Threat of new entrants: The HIV Diagnostics Test Market requires huge R&D investments and established distribution channels. This acts as a barrier for new players.
Bargaining power of buyers: The presence of numerous manufacturers provides buyers with greater bargaining power and ability to negotiate lower prices.
Bargaining power of suppliers: Suppliers have moderate bargaining power as there are substitute raw materials available at marginally higher costs.
Threat of new substitutes: There exist limited threat of substitutes as HIV diagnostics tests have specific applications in clinical diagnosis and management.
Competitive rivalry: The market is highly competitive due to the presence of major global players.
Key Takeaways
The Global Hiv Diagnostics Test Market Size is expected to witness high growth, exhibiting CAGR of 9.0% over the forecast period, due to increasing awareness programs by government and NGOs regarding HIV diagnosis.
Regional analysis: North America dominates the global market and is expected to continue its dominance over the forecast period. This is attributed to increasing prevalence of HIV in the US and Canada. However, Asia Pacific is anticipated to exhibit fastest growth during the analysis period driven by growing patient pool and increasing healthcare expenditure in the region.
Key players operating in the HIV Diagnostics Test Market are 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. Abbott and Roche AG collectively hold over half of the market share owing to their robust product portfolio and global presence
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
