SELBYVILLE, Del., August 10, 2021 (Newswire.com) – According to the latest report, “HIV Diagnostics Market by Test Type (Antibody Test, Viral Load Test, CD4 Test), End-use (Diagnostic Laboratories, Hospitals & Clinics, Home Settings), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of HIV diagnostics will cross $790 million by 2027. Technological improvements and the increasing prevalence of HIV in developing and underdeveloped countries will foster the market growth.
HIV is one of the globe’s greatest serious public health challenges. Despite numerous advances in scientific understanding of HIV and its treatment and prevention, many people with HIV still do not have proper access to the care, treatment, and prevention. Therefore, government and other non-government organizations play a crucial role in the prevention of HIV/AIDS throughout the globe. Government in different countries undertakes numerous initiatives to develop better healthcare infrastructure for improved patient care as well as management. India’s AIDS control program is a success story worldwide. Similarly, the National AIDS Control Program is executed for the control and prevention of AIDS in India. Hence, numerous such ingenuities undertaken by the Indian Government and others will push the industry growth in India. However, growing awareness about safe sex and early disease testing is likely to reduce the number of cases in the APAC region.
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The CD4 test segment in the HIV diagnostics market is estimated to showcase around 0.2% growth rate through 2027. CD4 test measures a number of CD4 cells in a patient’s body, and these cells move throughout the body to find as well as destroy bacteria or a virus. A standard CD4 count is from 500-1,200 cells/mm3 in teens and adults. The CD4 test is also used for routinely monitoring the severity of the disease throughout the treatment period. The recurring use of CD4 tests in HIV patients undergoing ART will affect the market expansion.
The HIV diagnostics market for the home settings segment accounted for around USD 42 million in 2020. According to the CDC, it is predicted that more than 1.1 million individuals in the U.S. are suffering with HIV. HIV screening if the foremost key to controlling the virus worldwide. If individuals are concerned regarding their privacy, a home testing kit has been approved and evaluated by the FDA. The OraQuick In-Home HIV Test is the only HIV self-test approved by the U.S. Food and Drug Administration that individuals can use to test themselves at home. Therefore, the availability of this self-test worldwide will propel the segment growth.
Asia Pacific HIV diagnostics market held over 29% of revenue share in 2020. The presence of numerous industry leaders and favorable government initiatives and programs including NACP in this region will escalate the market progression. Furthermore, the increasing usage of antibody tests in countries like India, China, Thailand, and Malaysia, among others, and rising healthcare spending are some of the factors proving beneficial for the regional expansion. However, the number of HIV cases are expected to reduce in the next decade.
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Some of the eminent players operational in the HIV diagnostics market include OraSure Technologies, Chembio Diagnostics, Abbott Laboratories, Cepheid, BD, BIONEER CORPORATION, Omega Diagnostics, Roche, Qiagen and Biomerieux, among others. The companies are focusing on numerous strategies that help the company increase its revenue share internationally.
Table of Contents (ToC) of the report:
Chapter 3 HIV Diagnostics Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.4 Growth potential analysis
3.4.1 By test type
3.4.2 By end-use
3.5 Regulatory landscape
3.6 Porter’s analysis
3.7 Competitive landscape, 2020
3.7.1 Competitive matrix analysis, 2020
3.8 PESTEL analysis
Browse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/hiv-diagnostics-market
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