Growing Incidence of HIV (Human Immunodeficiency Virus) Infection Boosting Market
The increasing prevalence of human immunodeficiency virus
(HIV)/acquired immune deficiency syndrome (AIDS) and surging healthcare
expenditure on HIV and related activities are two of the key factors responsible
for the growth of the HIV diagnosis market. During the forecast period
(2017–2023), the market is predicted to advance at a CAGR of 10.6%. HIV
diagnosis refers to the tests performed to detect the presence of HIV in human
blood. HIV weakens the immune system and leads to AIDS, if not treated timely.
Based on product, the HIV
diagnosis market is categorized into consumables, software &
services, and instruments. Out of these, during the historical period
(2013–2016), consumables dominated the market, and these are predicted to
continue dominating it during the forecast period. This is attributed to the
surging cost of the reagents used during HIV tests and the advent of various
innovative products in the market. The consumables are further bifurcated into
assays, kits & reagents, and others.
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This is attributed to the fact that the majority of HIV
tests are performed at laboratories. In addition, these laboratories provide
the benefit of the latest instruments along with skilled professionals who can
conduct various tests to confirm the diagnosis of HIV infection. As per the
Joint United Nations Programme on HIV/AIDS (UNAIDS), the incidence of HIV/AIDS
surged by 2.8 million from 2011 to 2015, and around 36.7 million people tested
positive for HIV across the globe. In 2015, approximately 40.0% of the people
suffering from HIV were not aware of their status.
Hence, the growing incidence of HIV/AIDS and significant
healthcare expenditure on diagnosis and related activities are being witnessed
as the major growth drivers of the market.
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