Seattle, Jan. 28, 2019 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the Asia Pacific HIV diagnostics market was valued at US$ 301.1 million in 2017, and is projected to exhibit a CAGR of 12.3% over the forecast period (2018–2026).
Key Trends and Analysis of the Asia Pacific HIV Diagnostics Market:
High prevalence of HIV/AIDS infections among the population in Asia Pacific is expected to drive adoption of HIV diagnosis instruments, test kits, self-testing, and point-of-care testing solutions over the forecast period. For instance, according to Avert, 2017, around 5.2 million people in Asia Pacific were suffering from HIV in 2017, with China, India, and Indonesia accounting for around three-quarters out of total number of people suffering from HIV in the region.
Request Sample Copy of this Report @ https://www.coherentmarketinsights.com/insight/request-sample/2457
Low literacy rate coupled with unawareness regarding transmission mode oh HIV, changing lifestyle, and unsafe sex are some of the reasons leading to increasing number of HIV cases. To lower the disease incidence and increase the life expectancy, government of various countries along with NGOs are focusing on improving HIV diagnostics and making them easily accessible to the general population. In 2017, Government of India in association with National AIDS Control Organisation (NACO) revealed a seven-year National Strategic Plan on HIV/AIDS and STI, 2017-24. The focus of this national programme will be achieving the fast-track targets such as 75% reduction in new HIV infections.
Moreover, increasing HIV epidemic population has propelled demand for safe blood transfusion. In India, National AIDS Control Program, since its initiation of Phase one (NACP 1992-1999), has been focusing on blood safety and has invested 30% of its project cost focusing on significant improvements in the availability of quality of blood/blood products, infrastructure, equipment, and service delivery in phase one.
Increasing participation of government also plays a crucial role in growth of the market. For instance, in April 2017, Government of India: Ministry of Health and Family Welfare, launched ‘Test and Treat Policy for HIV’. According to this policy, as soon as a person is tested and found to be positive, patient will be provided with Antiretroviral Therapy (ART) irrespective of his CD4 count or clinical stage. This will be helpful for all men, women, adolescents, and children who have been diagnosed as HIV positive and will further improve longevity, improve quality of life of infected people
Government support to manufacturers in the HIV diagnostics market with funding and product approvals is also expected to boost the market growth. For instance, in December 2017, the Atomo HIV Self-Test was approved by the WHO’s Expert Review Panel for Diagnostics (ERP-D), to expedite access to innovative diagnostic products in advance of approvals through the WHO prequalification process. In October, 2016, Atomo Diagnostics received US$ 2.6 million grant from the Bill & Melinda Gates Foundation to develop a next-generation HIV self-test. This grant will support the development of an affordable, reliable, and simple HIV rapid diagnostic test.
Manufacturers in the industry are focusing on launching new and cost effective products in the region. For instance, in February 2015, Becton, Dickinson and Company launched BD FACSPresto in India. BD FACSPresto is a Near Patient CD4 monitoring system, which offers absolute and percentage results of CD4 T lymphocytes and hemoglobin (Hb) concentration in whole blood samples.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/asia-pacific-hiv-diagnostics-market-2457
Key Market Takeaways:
- The Asia Pacific HIV diagnostics market is expected to exhibit CAGR of 12.3% during the forecast period (2018–2026). The factors impacting growth of the market include, increasing government initiatives for reducing HIV/AIDS burden
- Increasing private and government engagement has led to gradual increase in HIV self-testing. For instance, according to the data published in The Lancet Journal, in September 2018, in each hour of 2017, around 220 HIV self-test kits (110 packages) were sold by a single online pharmaceutical store in China.
- Key players operating in the Asia Pacific HIV diagnostics market include, Abbott Laboratories, Merck KGaA, F. Hoffmann-La Roche AG, Atomo Diagnostics, Siemens Healthineers, Inc., bioLytical Laboratories Inc., MedMira Inc., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., and Danaher Corporation
Request for Report Customization
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.