Transparency Market Research (TMR) depicts the role of few major players in the scattered competitive market including Siemens Healthineers, Abbott Laboratories, Becton, Dickinson and Company and their competitive strategies to foothold the market. Competition in global HIV/AIDS diagnostic market is reasonable due to dominance of few players in the market. Rivalry is likely to increase if the resourceful players adopt competitive pricing strategy in upcoming years to capture the market share and capitalize on factors nudging the market growth.
Aspiring entrants must cross fences of exhaustive research and development to provide resourceful diagnostic kits in the global HIV/AIDS market. These players are likely to enter mergers and acquisition for expansion and to capitalize on the advanced products.
The global HIV/AIDS diagnostic market is likely to expand at a substantial rate of CAGR9.3% during the forecast period. Research and Development and increasing cases of HIV/AIDS is expected to fuel the growth of the global HIV/AIDS diagnostic market during the forecast period 2018 to 2026
Rapid Test (POC) to Foster the Market Growth
The global HIV/AIDS market is segmented into types of tests carried out to detect the infection. These are Rapid Test (POC), Nucleic acid test and Elisa. Of these Rapid Test (POC) is expected to foster the market growth during the forecast period, due to its low cost and authenticity. Furthermore, the global HIV/AIDS diagnostic market is segmented into diagnostic centres, hospitals and clinics.
During the last market research too, Rapid Test (POC) held a dominance over the global HIV/AIDS market. It accounted worth US1.526 bn in 2016 owing to its correctness in the results and easy usage. This test is projected to reach up to US$3.392 billion by 2026. Alternatively, nucleic acid test is forecasted to push the global HIV/AIDS diagnostic market. Nucleic acid test claims to be accurate in capturing acute cases of HIV infections. They are also expected to reveal the appearance of HIV RNA factor in human plasma and serum samples.
Regionally, North America has had a dominance over the global HIV/AIDS diagnostic market, so far. Even during the forecast period, this region is anticipated to dominate the global HIV/AIDS diagnostic market because of increasing research and development in this regard.
Rise in HIV cases to Fuel the Market
There has been a rise in the HIV inflicted patients, worldwide. A person can live with HIV infection even for 10 years due to its asymptomatic nature at times. There has been increasing awareness of the infection said to be the major driving force for market growth. Government and Non-profit organizations are driving the awareness program across the globe. Joint United Nations Programme on HIV/AIDS (UNAIDS) indicated an estimate of 36.7 million population was inflicted with HIV.
Additionally, Asia Pacific region is projected to grow at a fast pace in the global HIV/AIDS diagnostic market. The market is likely to widen to rising incidences of HIV infections in South and Eastern part of the region. Public awareness and campaigns are being organized by various institutions, hospitals, and health department about the severity of the infection and symptoms. This will upheave the global HIV/AIDS diagnostic market during the forecast period of 2018 to 2026.
The above review is based on a TMR report, titled, (Product - Kits and Reagents and Instruments; Test Type - Rapid Tests (POC), ELISA, and Nucleic Acid Tests; End User - Hospitals, Private Diagnostic Laboratories, and Academic and Research Institutes) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026
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
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