Global HIV diagnosis market is expected to grow at a CAGR of 10.6%, during 2017 - 2023.
The increasing incidence of human immunodeficiency virus or acquired immune deficiency syndrome (HIV/AIDS) infections, rising awareness regarding advantages of point-of-care kits and instruments, surging consciousness about blood donations and blood transfusions are some of the key features that will drive the HIV diagnosis market at a CAGR of 10.6% during the forecast period (2017–2023). Additionally, the growing popularity of home-based HIV diagnosis devices is creating lucrative opportunities for the market players.
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Moreover, the market growth is also supported by the increasing healthcare expenditure on HIV and related activities. In recent years, healthcare spending has significantly increased in low- and middle-income countries. As per the Joint United Nations Programme on HIV and AIDS (UNAIDS) data, the total amount spent on the activities in these nations was $19.0 billion in 2015. The healthcare spending on HIV varies across regions, as it is related to the burden of the disease in that region. Owing to this factor, the expenditure is notably high in Sub-Saharan African countries.
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The product segment of the HIV diagnosis market is classified into consumables, instruments, and software and services. Among these, the consumables category holds the largest market share. This category is further divided into kits, assays, reagents, and others. Of these, the demand for kits surpasses the demand for assays and reagents, as they are easily available as convenient and are complete packed test systems that include a standard operating procedure (SOP). These kits offer reliable, sensitive, rapid, and easy to use detection of HIV infection.
Thus, the escalating cases of HIV/AIDS and the surging healthcare expenditure along with the growing popularity of home-based HIV diagnosis kits will propel the market growth in the coming years.
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