HIV Diagnostics Market growth outlook with industry review and forecasts

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HIV Diagnostics Market size worth 4.9bn by 2023
Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from HIV Diagnostics Market

• Global HIV diagnostics market size is anticipated
  to reach USD 4.9 billion by 2023 from 2.4 billion
  in 2015, growing at an estimated CAGR of 9.5
  from 2016 to 2023.
• U.S. HIV diagnostics market share was the largest
  in North America, grabbing revenue of more than
  75 in 2015. Regulatory support to prevent rising
  number of HIV/AIDS cases, and introduction of
  portable, convenient to use diagnostic tests is
  set to drive regional growth.
• Antibody tests segment dominated the global HIV
  diagnostics market share in 2015, at more than
  USD 750 million in revenue, while the antibody
  test market was predominantly driven by HIV-1
  screening tests market.
• Germany was the revenue puller for Europe HIV
  diagnostics market, slated to showcase bringing
  in over 20 revenue in 2015, while UK is likely
  to witness relatively higher growth rate.

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Continued...

• Capital intensive nature of the industry,
  existing established players, and requirement of
  highly qualified personnel pose as challenges for
  new players to enter the market.
• In APAC, China HIV diagnostics market is the
  fastest growing region, showcasing 10.9 CAGR
  during the forecast period, followed by Japan.
• Roche, Abbott, Siemens, Qiagen, Sysmex and
  Hologic are some key companies for this industry.

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

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360 Analysis

• Application Trends
• Growing point of care (PoC) diagnostics industry
  should positively impact the HIV diagnostics
  tests market. Various factors such as minimal
  equipment requirement, quick diagnosis,
  robustness, costeffectiveness, and convenience
  to use should drive the HIV point of care
  diagnostics market. Technological advancement in
  biochemical engineering for design of these tests
  in order to allow simultaneous detection and
  quantification of multiple targets with
  utilization of resource limited settings are
  anticipated to fuel market growth for HIV
  diagnostics.
• Regional Trends
• 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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