HIV Diagnostics Market Overview
Numerous factors are adding to the global in-vitro diagnostics market growth. These factors, according to the recent MRFR report, include rising prevalence of infectious and chronic disease, rising geriatric population, increase in the number of point of care testing centers & public and private diagnostic centers, ongoing R&D activities, and advancement in the healthcare sector. Rising awareness about personalized medicine and increasing adoption of automation and fully automated instruments in laboratories, are also adding to the global in-vitro diagnostics market growth.
From USD 2.35 billion in 2020, the HIV diagnostic market is expected to grow at a CAGR of 10.6% percent to USD 7,118.26 Million by 2027. The market is predicted to develop due to factors like the rising global prevalence of HIV/AIDS, the rising number of blood transfusions and blood donations, the advantages provided by point-of-care tools and kits, and increased government initiatives. The study’s base year was 2021, as well as the projection was made for the years 2020 through 2030. COVID-19 appears to have a significant impact on the HIV Diagnostics Market.
The human immunodeficiency virus (HIV) targets the human body’s immune system. Hiv – Infected people can receive antiretroviral medication and live a long and healthy life. The firm’s demand will be fueled by the availability of several HIV diagnostic tests.
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Key Players
Some of the key players in the global HIV diagnostics market are Siemens Healthineers (A Division of Siemens AG) (Erlangen, Germany), Roche Diagnostics (Division of Hoffman La Roche Ltd.) (Basel, Switzerland), Abbott Laboratories (Chicago, US), Beckman Coulter, Inc. (Subsidiary of Danaher Corporation) (California, US), Thermo-Fisher Scientific Inc. (Massachusetts, US), Merck KGaA (Darmstadt, Germany), Becton, Dickinson & Company (New Jersey, US), Hologic Inc. (Massachusetts, US), Alere Inc. (Massachusetts, US), Bio-Rad Laboratorie (California, US) and many more.
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HIV Diagnostics Market Segmentation
The MRFR report provides an inclusive segmental analysis of the global in-vitro diagnostics market based on end user, application, technology, and product & services.
By product & services, the in-vitro diagnostics market is segmented into data management software, instruments, and reagents & kits. Of these, reagents & kits will lead the market during the forecast period. It is likely to grow at a 9.34% CAGR.
By technology, the global in-vitro diagnostics market is segmented into haematology, microbiology, molecular diagnostics, clinical chemistry, and immunoassay/immunochemistry. Of these, clinical chemistry will dominate the market during the forecast period for the rapid integration of the latest technologies in clinical diagnostics. Molecular diagnostics, meanwhile, will grow at the highest CAGR.
By application, the global in-vitro diagnostics market is segmented into non-infectious and infectious diseases. Of these, infectious diseases will have a major share in the market during the forecast period for the rising prevalence of infectious diseases. IVD tests in case of infectious diseases are used for detecting and identifying the responsible infectious agents as well as allowing healthcare professionals to discover the right treatment for the patient. Molecular tests, Immunoassays, and traditional microbiology are the three different types of in-vitro diagnostic tests for infectious diseases. It is used to diagnose and test different infectious diseases, including influenza, hepatitis, streptococcal infections, HIV, MRSA, among others.
By end user, the in-vitro diagnostics market is segmented into academic institutes, laboratories, and hospitals. Of these, hospitals will have a major share in the market during the forecast period as maximum tests are done in hospitals.
HIV Diagnostics Market Regional Analysis
By region, the global in-vitro diagnostics market report covers the recent trends and growth opportunities across North America, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, North America will lead the market over the forecast period for high healthcare expenditure and easier accessibility. Besides, the presence of top key players, technological advances in in-vitro diagnostics, well-established diagnostic infrastructure, and favorable government regulations are also adding market growth.
The global in-vitro diagnostics market in the APAC region will grow at a quick pace for improving healthcare infrastructure and a huge target population.
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