Global HIV/AIDs Diagnostics Market to expand at 10.5% CAGR through 2026

May 14, 2020

According to the research report titled ‘Global HIV/AIDs Diagnostics Market Size study, by Product (Consumables, Instruments and Software & services), by Test Type (Antibody Test, Viral Load Tests, CD4 Test, Test for Early Infant Diagnosis and Tests for Viral Identification), by End-User (Diagnostics Laboratories, Hospitals, Blood Banks, Home care Settings and Others) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global HIV/AIDs diagnostics market surpassed USD 3.17 billion in 2019 and is predicted to record 10.5% CAGR during 2019-2026.

For the record, HIV (Human Immunodeficiency Virus) attacks body cells which fight against infections, thereby weakening immunity and making a person more susceptible to other diseases and infections. The virus spreads through contact with bodily fluids of a person suffering from HIV, most commonly due to sharing injections or having unprotected intercourse. Meanwhile, AIDS (Acquired Immune Deficiency Syndrome) is a later stage of HIV infection that occurs when the immune system of the patient is severely damaged due to the virus.

High occurrence of HIV/AIDS across the globe and subsequently growing demand for early diagnosis of HIV/AIDS in order to initiate treatments are major factors driving the market growth. According to World Health Organization (WHO), over 37.9 million people globally were infected with HIV in 2018, whereas around 23.3 million people received antiretroviral treatment in 2018. However, lack of awareness pertaining to HIV/AIDs may hinder the expansion of global HIV/AIDS diagnostics market.

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As per the regional scope, North America HIV/AIDs diagnostics industry is predicted to expand significantly during the forecast period, primarily due to rising prevalence of HIV/AIDs across the region.

Meanwhile, Asia-Pacific market is anticipated to showcase remunerative growth in the forthcoming years, owing to favorable government initiatives regarding HIV/AIDS awareness and increasing number of blood donations and blood transfusions across the region.

The major contender of HIV/AIDS diagnostics market are Bio-Rad Laboratories, Alere Inc., Hologic Inc., Becton, Dickinson & Co., Merck KGaA, Thermo-Fisher Scientific Inc., Beckman Coulter Inc., Abbott Laboratories, Roche Diagnostics and Siemens Healthineers among others.

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