The global HIV diagnostics market size is expected to reach USD 7.62 Billion in 2028 and register a CAGR of 10.1% over the forecast period, according to the latest report by Reports and Data. HIV diagnostics market revenue growth is driven by increasing prevalence of the diseases and surge in risk of AIDS in developing countries.
According to WHO, around 38 million individuals across the globe were living with HIV infection in 2019. Due to various initiatives taken by government and international organizations, 68% of adults and 53% of children infected by the virus are receiving lifelong Antiretroviral Therapy (ART). Presence of favorable government initiatives and reimbursement policies are also key factors driving market revenue growth. Advancements in HIV testing technologies and increased focus on safe blood transfusions are other factors also propelling growth of the market.
Research have proven that early diagnosis and treatment of HIV can reduce suffering, limit HIV-related illnesses, and prevent transmission to others. Surge in prevalence of HIV infection and rise in expenditure for research & development by healthcare companies will continue to fuel HIV diagnostic market growth. Increase in HIV antigen, viral load testing, nucleic acid testing, and remunerative growth opportunities will further contribute to the growth of the market going ahead. However, lack of proper regulatory framework for Nucleic Acid Testing (NAT) in developing countries and high associated costs are some major factors restraining market growth to some extent.
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The report provides a panoramic view of the market and insights that will help formulate better business decisions. In addition to that, the study helps well-established companies and players gain a deeper understanding of the market and make informed decisions. The report also discusses in detail about the key factors influencing the market growth.
Key companies operating in the market include:
Abbott Laboratories, Becton, Dickinson & Company, Siemens Healthineers, Beckman Coulter, Inc., Hologic Inc., Roche Diagnostics, Thermo-Fisher Scientific Inc., Bio-Rad Laboratories, Bristol-Myers Squibb, and Gilead Sciences.
The report covers an extensive analysis of the key market players in the market along with their business overview, expansion plans, and strategies. The report also focuses on recent strategic alliances in the market including mergers and acquisitions, joint ventures, partnerships, agreements, corporate and government deals, product launches, and brand promotions, among others.
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The report aims to provide a better understanding of the market dynamics and the workings of the industry on a global level. To gain a deeper understanding of the industry, the global Hiv Diagnostics market is further segmented on the basis of key geographical regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The report also offers a country-wise analysis to provide crucial insights into market size, market growth, market revenue growth, and economic growth in each region.
On basis of product types and application offered by the Hiv Diagnostics industry, the market is segmented into:
Product Outlook (Revenue, USD Billion; 2018–2028)
Test Type Outlook (Revenue, USD Billion; 2018–2028)
End-use Outlook (Revenue, USD Billion; 2018–2028)
The regional analysis covers:
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