Selbyville, Delaware, April 19, 2022 (GLOBE NEWSWIRE) --
The HIV diagnostics market value is projected to exceed USD 720 million by 2028 , according to a new research report by Global Market Insights Inc. Technological improvements and increasing prevalence of HIV in developing and underdeveloped countries will foster the industry growth.
HIV is one of the serious public health challenges across the globe. HIV if not treated on time can lead to formation of AIDS. Despite numerous research and advances in scientific studies related to HIV still there is no vaccine and preventive medication to control the spread of the infection. One of the only methods to tackle the infectious is by treating it on time and access to proper treatment and care.
Therefore, many governments, NGO’s and other organizations play a crucial role in creating proper awareness for the prevention of HIV/AIDS. Governments across the globe are undertaking numerous initiatives to educate its citizens regarding prevention and safer sex practices. They are developing better healthcare infrastructure to provide sophisticated patient care as well as management.
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HIV diagnostics market from CD4 test segment is projected to show around 0.6% CAGR over the forecast period. CD4 test are used to measures the number of CD4 cells in the body and these cells circulate throughout the body to find and destroy potential virus or pathogenic. The standard CD4 count should range from 500–1,200 cells/mm3 in healthy adults. This test is also conducted to monitoring the severity of the infection throughout the treatment period. High demand for CD4 test by HIV patients who are undergoing antiretroviral therapy is predicted to positively influence the market demand.
Some major findings of the HIV diagnostics market report include:
- Surging awareness among general population base throughout the world pertaining to regular antibody tests will fuel the business landscape.
- Rising number of HIV cases in low-income countries and favorable government initiatives are some of the aspects proving beneficial for the overall market progression in developing countries.
- Europe market held considerable revenue share in 2021. However, the European market is poised to decline during the predictable timeline due to increased awareness among population and reduction of HIV cases.
- COVID-19 pandemic has negatively affected the number of HIV tests performed across the world due to restrictions and lockdowns imposed by governments. To manage the high influx of COVID-19 affected patients all the hospitals suspended or postponed all inpatient, consultation, and non-emergency procedures.
Browse key Industry insights spread across 150 pages with 148 market data & 11 figures & charts from the report, “HIV Diagnostics Market Forecasts by Test Type (Viral Load Test, Antibody Test, CD4 Test), By End-use (Diagnostic Laboratories, Hospitals & Clinics, Home Settings), Industry Analysis Report, Regional Outlook, Growth Potential, Price trends, Competitive Market Share & Forecast, 2022-2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/hiv-diagnostics-market
HIV diagnostics market from home settings segment accounted for USD 40 million in 2021. As per Global AIDS monitoring reporting, more than 37 million individuals around the globe are suffering with HIV and about 28 million people are accessing antiretroviral therapy. HIV test is the foremost step to verify if the person is infected with HIV or not. To cater the demand for individuals who are concerned about their privacy, a home testing kit is available which was evaluated and approved by the Food and Drug Administration (FDA).
For instance, the OraQuick in-home HIV test is the one of the self-tests approved by the FDA. Therefore, increasing awareness regarding HIV diagnostics and easily availability of this self-test kits or standard laboratory test across the world will propel the business landscape.
Asia Pacific HIV diagnostics market held over 30% revenue share in 2021. Presence of numerous key players, availability of generic HIV drugs and favorable government initiatives and programs such as NACP is going to escalate the market development. Furthermore, increasing usage of antibody test in countries such as China, India, Malaysia, Thailand, and among others is going to boost the regional market expansion.
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Some of the eminent business players operational in HIV diagnostics industry include Abbott Laboratories, BD, BIONEER CORPORATION, OraSure Technologies, Chembio Diagnostics, Cepheid, Roche, Omega Diagnostics, Qiagen, and Biomerieux.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
