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Global HIV Diagnosis Market to Witness 10.6% CAGR during 2017 – 2023 by P&S Market Research

Global HIV Diagnosis Market to Witness 10.6% CAGR during 2017 – 2023 by P&S Market Research

According to a new market research report “Global HIV Diagnosis Market Size, Share, Development, Growth and Demand Forecast to 2023 – Industry Insight by Product (Consumable, Instrument and Software & Services), by Type of Test (Antibody Test, Viral Load, CD4, Early Infant Diagnosis and Viral Identification), by End User (Diagnostic Laboratories, Hospitals, Research Institutes and Others)” published by P&S Market Research, the global HIV diagnosis market is expected to grow at a CAGR of 10.6%, during 2017 – 2023.

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Increasing prevalence of HIV/AIDS drives the global market

According to the study, the global HIV diagnosis market is likely to grow significantly during the forecast period, due to rising prevalence of HIV/AIDS, increasing awareness with respect to blood donations and blood transfusions, and advantageous features of point of care instruments and kits are some of the key drivers for the global market growth. In addition, rising healthcare expenditure leading to improvement in healthcare infrastructure further contributes to the growth of the overall market. High cost of automated procedure and stringent regulatory requirements are some of the key factors restraining the global market growth.

Insights on market segments

As per the findings of the research, based on products, consumable is the largest product category, in the global market. Antibody test has been the largely performed test of the global market, followed by viral load, CD4, early infant diagnosis and viral identification. Diagnostic laboratories have been the largest end user of HIV diagnosis, followed by hospitals, research institutes and others.

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North America stands as the largest HIV diagnosis market

Geographically, North America has been the largest market for HIV diagnosis, with the U.S. being the largest contributor to the regional market. Increasing prevalence of HIV/AIDS and advantageous features of point of care instruments and kits has been driving the growth of the North American market. In Europe, the U.K. has been the largest contributor to the market for HIV diagnosis, followed by Germany and France. The market is expected to witness the fastest growth in Asia-Pacific, during 2017 – 2023, owing to increasing cases of HIV rising healthcare expenditure and increasing blood transfusion.

Increasing healthcare expenditure largely impacts the market

The healthcare expenditure is increasing across the globe with increasing prevalence of diseases and increasing government and non-government initiatives. According to the WHO, the rise in total healthcare expenditure is leading to the improvement in healthcare infrastructure, this has further lead to an increase in affordability and accessibility of HIV diagnosis globally.

The governments in different countries is investing significant portion of their GDP for healthcare development. Although, there are large variations among the healthcare spending of different countries, healthcare has been one of the primary focus for all the nations. Healthcare spending in the developed economies such as North America and Europe is considerably high in comparison to the developing countries. The lower spending in developing countries is primarily due to their low income per capita GDP. However, per capita healthcare spending in developing countries is increasing due to the increasing government initiatives. The increasing healthcare expenditure leads to the increased demand for effective diagnosis of HIV, thus driving the growth of the global market.

Key players in the HIV diagnosis market

Some of the key players in the global HIV diagnosis market include Siemens AG, Hoffman La Roche Ltd., Danaher Corporation, Abbott Laboratories, Ltd., Thermo-Fisher Scientific Inc., Merck KGaA, Becton, Dickinson & Company, Alere Inc., Bio-Rad Laboratories and Hologic Inc.

 

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