HIV Diagnostics Market Size

HIV Diagnostics Market size

HIV Diagnostics Market size surpassed USD 690 million in 2021 and is anticipated to foresee 0.8% CAGR from 2022 to 2028 to reach over USD 720 million in 2028 owing to the rising disease burden of HIV infections in developing countries. Favorable regulatory scenario and high investment in R&D activities by market players for the development of enhanced quality HIV diagnostics kits for home settings will fortify the market growth during the analysis period.

HIV remains a persistent problem for many African nations as well as other underdeveloped nations around the world. For instance, as per the data published by the UNAIDS, in 2020, around 670,000 new cases of HIV infection were recorded and over 20.6 million population were living with HIV in the eastern and southern Africa. Out of this nearly 10% individuals were unaware of their disease status.

Similarly, in Asia Pacific region, around 240,000 new cases of HIV were listed in 2020 and more than 5.8 million people were living with HIV infections. Thus, growing burden of HIV infections in underdeveloped and developing countries especially in African region will accelerate the demand for HIV diagnostics in forthcoming years.

The COVID-19 outbreak has adversely impacted on HIV diagnostics market in 2020. Many parts of the world adopted preventive lockdown to combat community transmission of the COVID-19 virus. This has resulted in a substantial decline in the count of HIV diagnostics procedures and patients visits in healthcare facilities thereby, negatively impacted on the market growth.

However, the market gained substantial growth in 2021 with fall in number of COVID-19 cases. The healthcare facilities implementing standard operating protocols, and a lower mortality rate related with COVID-19 have led to surge in elective procedures in the settings with reduced risk of infections. Thus, with declining COVID 19 patients is expected to experience significant market growth in near future.

Human immunodeficiency virus (HIV) is a virus that affects the immune system of the human body. HIV infection is transferrable and can be transmitted through contact with semen or vaginal fluids, infected blood and attacks the body's immune system. HIV diagnostics tests play a vital role in the precise diagnosis and treatment of an individual’s health. Growing availability of several HIV diagnostics tests worldwide will foster the HIV diagnostics market share.