A recent market research report by Transparency Market Research presents a thorough analytical overview of the global market for HIV diagnosis. The report is titled “HIV Diagnosis Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016–2024.”
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A number of factors have worked in favor of the market in the recent years, with the chief ones being an increased level of awareness regarding the causative factors behind HIV/AIDS, rising government measures aimed at arresting the prevalence of the deadly condition, and the rising number of blood transfusions.
In several less developed economies, especially across regions such as Asia Pacific and Africa, the market is driven due to the vast pool of unmet HIV diagnostic needs are also providing a major impetus to the overall growth prospects of the global HIV diagnosis market. The proper diagnosis of HIV is the key to prevention and proper treatment of AIDS; however, in several underdeveloped regions, factors such as scarcity of funds diverted towards public healthcare, need for technologically advanced and costly equipment for running several standard diagnostic tests, and lack of skilled professionals hamper the growth prospects of the market to a certain extent.
For providing a more detailed account of the most promising growth opportunities in the market, the report segments it on the basis of criteria such as test type, end-user, and geography. Of the key HIV diagnostic tests, including CD4 count tests, antibody tests, viral load testing, viral identification assays, and early infant diagnostic tests, the segment of antibody tests accounted for the dominant share in the market in 2015. This is largely attributed to the high market penetration of the test.
On the basis of end use, the global HIV diagnosis market has been covered in the report for diagnostic laboratories, hospitals, home care settings, gene banks academic & research institutes, cell banks, biotechnology and pharmaceutical companies, and blood banks. Of these, the segment of diagnostic laboratories is likely to account for a dominant share in the global market, thanks to the vast rise in investments from government and non-government bodies and the enablement of advanced technological equipment and solutions in diagnostic laboratories across the globe.
From a geographical standpoint, the market for HIV diagnosis has been covered for regions such as Asia Pacific, Europe, Latin America, North America, and Middle East & Africa. Of these, the market in North America is presently the leading revenue generator and is likely to hold a significant chunk of global revenue over the report’s forecast period as well. The strong position of the region in the global market can be attributed to the well-developed healthcare infrastructure, the encouraging pace of R&D activities, and high awareness among the population.
Some of the leading companies operating in the global HIV diagnosis market are Bio-Rad Laboratories, Thermo Fisher Scientific, Inc., Becton, Dickinson and Company, Siemens Healthcare, Merck KGaA, Abbott Laboratories, QIAGEN, Roche Molecular Systems Inc., MedMira Inc., Danaher Corporation, bioMerieux SA, Alere Inc., and Hologic, Inc.