Global HIV/AIDS Diagnostics Market: Snapshot
Competition in the global HIV/AIDS diagnostics market is moderate. This is because there are just a few big players who have a stronghold over the market and barriers to entry are high for aspiring players on account of the exhaustive research procedures involved in the development of diagnostic kits. In the next couple of years, the competition is predicted to heat up on account of the competitive pricing strategy leveraged by savvy companies in the market.
In order to expand further, most of the prominent players in the global HIV/AIDS diagnostics market have banked upon carefully considered mergers and acquisitions and launch of better products. Driving growth in the market is the increasing instances of the HIV and the various initiatives adopted by government agencies and other non-profit organizations to generate awareness about HIV.
Serving to slowdown the global HIV/AIDS diagnostics market, on the other hand, is the lack of manifestation of symptoms in many cases of HIV. Sometimes, it even takes over 10 years for an HIV afflicted person to realize the existence and proliferation of the virus inside him that destroys his/her immune system.
A report by Transparency Market Research forecasts the global HIV/AIDS diagnostics market to expand at a 9.3% CAGR between 2017 and 2025 to become worth US$5.74 bn by 2025 from US$2.606 bn in 2016.
Nucleic Acid Test Segment to Outpace Others Due to Ability to Confirm Acute HIV Infections
Depending upon the type of tests, the global HIV/AIDS diagnostics market can be segmented into rapid tests (POC), ELISA, nucleic acid test, and others. Currently, the rapid test (POC) segment leads the market with a dominant share. In 2016, it held a substantial 58.6% share in the market, and,s going forward, it will likely increase that share marginally to 59.1% in 2025 by expanding at a CAGR of 9.4%. The rapid test (POC) segment was worth US1.526 in 2016 and is slated to attain a value of US$3.392 bn by 2025. This test has been seeing impressive take-up on account of the quick and accurate results it accords, its hassle-free use, and its affordability.
In terms of growth rate, however, the segment of nucleic acid test is predicted to surpass all others by registering a CAGR of 9.5% between 2017 and 2025. The growth in the segment is brought about by their use in confirming acute cases of HIV infections by uncovering the presence of HIV RNA in human serum and plasma samples.
Awareness Campaigns Propel North America Market to the Forefront
From a geographical standpoint, North America is a dominant player in the global HIV/AIDS diagnostics market which accounted for a share of 36.2% in the 2016. Rising at a CAGR of 8.7% from 2017 to 2025, the market in the region is expected to become worth US$1.964 bn by 2025. Some of the factors catalyzing growth in the North America market are the increasing knowledge about the diagnosis, awareness and other campaigns carried out by the government and other non-profit institutes, and the strong research and development facilities. The region is primarily powered the U.S.
Asia Pacific, on the other hand, is slated to outpace all other regions in terms of growth rate in the global HIV/AIDS diagnostics market because of high sero-prevalence of HIV in South and East Asia. It is projected to rise at a CAGR of 10.9% between 2017 and 2025.
Some of the prominent players operating in the global HIV/AIDS diagnostics market are F. Hoffman-La Roche Ltd., Alere, Abbott Laboratories, OraSure Technologies, Inc., Becton, Dickinson and Company, and Siemens Healthineers.
Global HIV/AIDS Diagnostics Market: Overview
This report provides forecast and analysis of the HIV/AIDS diagnostics market on the global and regional levels. It provides historical data of 2016 along with forecast from 2017 to 2025 in terms of revenue (US$ Mn). The report also includes macroeconomic indicators along with an outlook on HIV/AIDS diagnostics globally. It includes drivers and restraints of the HIV/AIDS diagnostics market and their impact on each region during the forecast period. The report also comprises of the study of current issues with end users and opportunities for HIV/AIDS diagnostics manufacturers in the global market.
In order to provide users with comprehensive view of the market, we have included detailed competitive analysis and market players with unique selling propositions. The competitive dashboard included in the report provides detailed comparison of HIV/AIDS diagnostics manufacturers on parameters such as product offerings, revenue, key strategies, and recent developments. The study encompasses market attractiveness analysis, by product type, by test type, by end users and region.
Global HIV/AIDS Diagnostics Market: Research Methodology
Market value for global HIV/AIDS diagnostics have been estimated based on utility of HIV/AIDS diagnostics for all product types. The revenue is forecasted through regional pricing trends. Market size and forecast for each segment have been provided in the context of global and regional markets. The HIV/AIDS diagnostic market has been analyzed based on expected demand. Most of the key end users have been considered and potential applications have been estimated on the basis of secondary sources and feedback from primary respondents. Regional demand patterns have been considered while estimating the market for various end users of HIV/AIDS diagnostics in different regions.
Bottom-up approach has been used to estimate the HIV/AIDS diagnostics market size, and top-down approach has been used to validate the market number. The market has been forecasted based on constant currency rates. A number of secondary sources consulted during the course of the study include Factiva, NCBI, Google books, company annual reports, websites, white papers, and publications.
Global HIV/AIDS Diagnostics Market: Segmentation
The report includes revenue generated from sales of HIV/AIDS diagnostics in all regions and important countries in the regions. By product type, the global HIV/AIDS diagnostics market has been segmented into kits and reagents, instruments and others. On the basis of test type the HIV/AIDS diagnostics market is segmented into rapid tests (POC), ELISA, nucleic acid tests and others. On the basis of end users, the global HIV/AIDS diagnostics market is segmented into hospitals, private diagnostics laboratories, academic and research institutes and others. Geographically, the market is segmented into regions viz. North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Global HIV/AIDS Diagnostics Market: Competitive Analysis
The report provides detailed competitive dashboard and company profiles of key participants operating in the global market. Some of the key players in the global HIV/AIDS diagnostics market include Alere, Hologic, Inc., F. Hoffmann-La Roche Ltd., Bio-Rad Laboratories, Abbott Laboratories, Siemens Healthineers, OraSure Technologies, Inc., Chembio Diagnostic Systems etc.
The global HIV/AIDS diagnostics market is segmented as follows:
Global HIV/AIDS Diagnostics Market – By Product Type
- Kits and Reagents
Global HIV/AIDS Diagnostics Market – By Test Type
- Rapid Tests (POC)
- Nucleic Acid Tests
Global HIV/AIDS Diagnostics Market – By End Users
- Private Diagnostics Laboratories
- Academic and Research Institutes
Global HIV/AIDS Diagnostics Market – By Region
- North America
- Rest of Europe
- Asia Pacific (APAC)
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa