A report by Transparency Market Research forecasts the global HIV/AIDS diagnostics market to expand at a 9.3% CAGR between 2017 and 2025 to become worth US$5.74 bn by 2025 from US$2.606 bn in 2016.
In order to expand further, most of the prominent players in the global HIV/AIDS diagnostics market have banked upon carefully considered mergers and acquisitions and launch of better products. Driving growth in the market is the increasing instances of the HIV and the various initiatives adopted by government agencies and other non-profit organizations to generate awareness about HIV.
Serving to slowdown the global HIV/AIDS diagnostics market, on the other hand, is the lack of manifestation of symptoms in many cases of HIV. Sometimes, it even takes over 10 years for an HIV afflicted person to realize the existence and proliferation of the virus inside him that destroys his/her immune system.
From a geographical standpoint, North America is a dominant player in the global HIV/AIDS diagnostics market which accounted for a share of 36.2% in the 2016. Rising at a CAGR of 8.7% from 2017 to 2025, the market in the region is expected to become worth US$1.964 bn by 2025. Some of the factors catalyzing growth in the North America market are the increasing knowledge about the diagnosis, awareness and other campaigns carried out by the government and other non-profit institutes, and the strong research and development facilities. The region is primarily powered the U.S.
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Depending upon the type of tests, the global HIV/AIDS diagnostics market can be segmented into rapid tests (POC), ELISA, nucleic acid test, and others. Currently, the rapid test (POC) segment leads the market with a dominant share. In 2016, it held a substantial 58.6% share in the market, and,s going forward, it will likely increase that share marginally to 59.1% in 2025 by expanding at a CAGR of 9.4%. The rapid test (POC) segment was worth US1.526 in 2016 and is slated to attain a value of US$3.392 bn by 2025. This test has been seeing impressive take-up on account of the quick and accurate results it accords, its hassle-free use, and its affordability.
In terms of growth rate, however, the segment of nucleic acid test is predicted to surpass all others by registering a CAGR of 9.5% between 2017 and 2025. The growth in the segment is brought about by their use in confirming acute cases of HIV infections by uncovering the presence of HIV RNA in human serum and plasma samples.
Competition in the global HIV/AIDS diagnostics market is moderate. This is because there are just a few big players who have a stronghold over the market and barriers to entry are high for aspiring players on account of the exhaustive research procedures involved in the development of diagnostic kits. In the next couple of years, the competition is predicted to heat up on account of the competitive pricing strategy leveraged by savvy companies in the market.
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Some of the prominent players operating in the global HIV/AIDS diagnostics market are F. Hoffman-La Roche Ltd., Alere, Abbott Laboratories, OraSure Technologies, Inc., Becton, Dickinson and Company, and Siemens Healthineers.