HIV Diagnostics Market size to grow at 9.5% CAGR up to 2023

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HIV Diagnostics Market size worth 4.9bn by 2023,
and is forecast to grow at 9.5 CAGR up to
2023Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from HIV Diagnostics Market

• HIV Diagnostics Market size is estimated to reach
  USD 4.9 billion by 2023 as per a new research
  report by Global Market Insights, Inc. Growing
  prevalence, and increasing government and
  corporate initiatives for HIV infection awareness
  should propel global HIV diagnostics market size.
• Rising HIV/AIDS cost burden on healthcare systems
  has led to establishment of various associations
  and campaigns working towards the awareness
  regarding early diagnosis of disease. Global HIV
  diagnostics market size was USD 2.4 billion in
  2015, with 9.5 CAGR increase during the forecast
  period.  
• Various public awareness and education campaigns
  have been developed by Federal agencies. For
  instance, a campaign sponsored by Centers for
  Disease Control and Prevention (CDC) emphasizes
  the importance of HIV testing for people aged
  between 18 to 64.
• Another campaign driven by U.S. Department of
  Health and Human Services Office on Womens
  Health provides teen girls with information
  regarding HIV and its prevention.

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Continued...

• Introduction of technologically advanced products
  such as point of care rapid diagnostic tests, and
  portable cell counters that require minimum
  technical skills for its functioning increasing
  the speed of diagnosis.
• Other technological advancements include
  fluorescence microscopy devices, and flow
  cytometric instruments used for these tests
  improving the accuracy for the same.
• Strong requirement for affordable, readily
  available, high quality and efficient tests will
  also drive HIV diagnostics industry revenue.
• Usage rate for custom based, rapid and feasible
  PoC tests that can be done by non-healthcare
  providers has been steadily growing, which has
  led to an increase in demand for antibody tests
  such as HIV-1 screening, HIV-1 confirmatory,
  HIV-2 Group O making it the largest product
  segment in the overall market.

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U.S. HIV Diagnostics Market Size, by Product,
2012 - 2023 (USD Million)

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360 Analysis

• Product Analysis
• Antibody tests segment grabbed the largest
  overall HIV diagnostics market share, exceeding
  USD 1.5 billion by 2023. Widespread usage and,
  introduction of advanced PoC technologies
  designed to overcome the potential cell
  distinguishing drawbacks and provide quick and
  accurate results will drive.
• growth.
• Regional Analysis
• North America held a predominant chunk in the
  overall HIV diagnostics industry, valued at USD
  946 million in 2015, rapid adoption of
  technologically advanced diagnostic solution
  service providers, and increasing demand for
  portable and point of care tests drives regional
  growth.  
• Competitive Market Share
• Global HIV diagnostics market share is
  competitive, garnered by the presence of number
  of large firms, and various small players. Market
  players are undergoing collaborations, and
  mutually beneficial agreements with smaller
  market entities to enter untapped markets. Roche
  Diagnostics, Siemens Healthcare, Abbott
  Healthcare, and Alere, Inc are major players in
  the market.

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