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The HIV diagnostics test market comprises products used for the diagnosis of HIV infection, which includes antibody tests, viral load tests, CD4 count tests, tests for early infant diagnosis, and viral identification assays. HIV diagnostics tests help screen and confirm the presence of HIV, aid in disease prognosis, guide treatment decisions, and monitor the progression of HIV. Rising initiatives by governments and non-governmental organizations to increase awareness about HIV diagnosis and treatment and growing adoption of point-of-care HIV testing solutions are augmenting the growth of the market. The global HIV diagnostics test market is estimated to be valued at US$ 4,263.62 million in 2023 and is expected to exhibit a CAGR of 9.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the HIV diagnostics test market is the increasing availability and adoption of self-testing kits. Self-testing allows individuals to test themselves in the privacy and comfort of their own home without requiring a clinic or lab visit. This helps address various social stigmas related to HIV testing and thus contributes to increasing access to testing. Various market players are focusing on developing easy-to-use HIV self-testing kits that can deliver accurate results within a short timeframe. For instance, in April 2019, bioLytical Laboratories received approval from the US FDA for its INSTI HIV-1/HIV-2 Antibody Test, an over-the-counter, self-testing kit that provides rapid results within 40 minutes. Such developments are expected to support the growth of HIV diagnostics test market during the forecast period.
Porter’s Analysis
Threat of new entrants: The HIV diagnostics test market has moderate threat from new entrants as manufacturing test kits requires high capital investments and getting regulatory approvals is a lengthy process.
Bargaining power of buyers: The bargaining power of buyers is moderate as the test kits are essential for diagnosing and treating HIV. However, the availability of multiple brands provides options.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the presence of many raw material suppliers and requirement of specialized components.
Threat of new substitutes: There is low threat from substitutes as there are no close substitute tests for diagnosing HIV.
Competitive rivalry: The market is highly competitive with major global companies focusing on product innovation and geographical expansion.
Key Takeaways
The global HIV Diagnostics Test Market is expected to witness high growth over the forecast period.
Regional analysis: North America holds the highest share in the global HIV Diagnostics Test market. This can be attributed to rising prevalence of HIV cases and availability of advanced healthcare infrastructure for carrying out diagnosis in the region. The Asia Pacific region is projected to exhibit the fastest growth over the forecast period owing to large patient pool, growing awareness about HIV testing, and improving healthcare facilities.
Key players: Key players operating in the HIV Diagnostics Test market are Abbott, Bio-Rad Laboratories, Inc., Hologic, Inc., Siemens Healthineers, Roche AG, Beckman Coulter Inc., OraSure Technologies, Inc., Becton, Dickinson and Company, Merck KGaA, Chembio Diagnostic Systems, Inc., Zyomyx Incorporation, Bristol –Myers Squibb, Janssen Pharmaceutica NV, QIAGEN N.V., and ViiV Healthcare Ltd. Companies are focusing on new product launches and geographical expansions to strengthen their market presence.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
