Hiv Diagnostics Market Is Predicted To Grow Swiftly Due To Technological Development Of Disease Diagnostic Tests Till 2022: Grand View Research, Inc.
Global HIV Diagnostics Market is expected to reach USD
4.48 billion by 2022, growing at an estimated CAGR of 9.5% from 2015 to 2022,
according to a new study by Grand View Research, Inc. Key factors accounting
for the growth of this market include the growing need in for the development
of more sensitive HIV diagnostic point of care tests which can be easily
implemented at the location of patient care in resource limited settings.
Technological development of tests which is expected to introduce a number of
novel rapid, point-of-care tests throughout the forecast period is a primary
factor expected to fuel the growth of the HIV diagnostics market. Furthermore,
government programs and campaigns initiated against HIV, global healthcare
efforts to reduce disease incidence, and the presence of high unmet demand in
the Middle Eastern and Eastern regions of the market are some key factors
expected to serve as lucrative future growth opportunities.
Browse full research report on
Hiv Diagnostics Market
Further key findings from
the study suggest:
- Antibody HIV
diagnostic tests accounted for the largest share of the market in 2014.
This large share can be accounted for by the high market usage and
penetration rates of these tests which include, ELISA, home access dried
blood spot, western blot testing IFA and RIPA. These tests are
highly sensitive and accurate and thus are most commonly used for
screening and confirmation of HIV-1 & HIV-2.
- Viral Load
testing and CD4 testing also accounted for a considerable share of the
market in 2014. There is a prevalent in the market for the development of
these tests which will make them more sensitive, rapid in nature and
portable to the point of care to enhance their market usability and
accessibility in resource limited HIV affected regions.
- It is
expected that during the forecast period a number of novel point of care
HIV diagnostic products will be commercialized which are currently under
clinical development and in product pipelines of key market players. This
increase in the range of products s expected to fuel the growth of this
market over the forecast period.
- North America
was observed to account for the largest share of the market in 2014, which
can be attributed to the presence of a strong healthcare R&D scenario
in which the presence of government funding and ongoing corporate efforts
to enhance product portfolio are anticipated to accelerate the timelines
for new product development. Furthermore, the presence of favorable
reimbursements policies for HIV and other infectious diseases is also a
factor accounting for this region’s large share.
- Asia Pacific
is expected to grow at a relatively faster rate over the forecast period
owing to, the presence of high levels of unmet market demand for HIV
screening and testing. Moreover, collaborations among market participants
from the western regions is another significant expected to boost the
growth of Asia Pacific HIV diagnostics market during the forecast period.
- Key players
of the market include Janssen Diagnostics, Daktari Diagnostics, Cepheid,
Hologic and Chembio Diagnostic Systmes Inc.
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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