Asia Pacific HIV Diagnostics Market Asia Pacific HIV Diagnostics Market to Surpass US$ 840 Million by 2026. Asia Pacific HIV Diagnostics Market was valued at US$ 301.1 million in 2017, and is projected to exhibit a CAGR of 12.3% over the forecast period (2018 - 2026)
Asia Pacific HIV Diagnostics Market, by Product Type (Instruments and Reagents & Kits), by Test Type (Screening {Third Generation and Fourth Generation}, Differentiation & Confirmation Test, and Monitoring Test {CD4 Tests and Viral Load Tests}), by End User (Hospitals and Clinics, Diagnostic Laboratories, Home Care Settings, and Others), and by Country (China, Japan, South Korea, ASEAN, India, Australia, and Rest of Asia Pacific) was valued at US$ 301.1 million in 2017, and is projected to exhibit a CAGR of 12.3% over the forecast period (2018 - 2026), as highlighted in a new report published by Coherent Market Insights.
Various healthcare regulatory bodies are focusing on HIV/AIDS, owing to its high epidemic burden. Several policies and strategic programs are undertaken to reduce HIV burden by offering comprehensive care, diagnosis, and treatment services. Increasing government initiatives to eliminate HIV infections aid pregnant women and infants to get screened for HIV. This is expected to boost demand for HIV diagnostics instruments during the forecast period.
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For instance, in April 2017, Ministry of Health and Family Welfare, Government of India, launched ‘Test and Treat Policy for HIV’ policy, which is expected to improve longevity and quality of life of those infected with HIV. Similarly, in 2017, Ministry of Health, Sri Lanka initiated the National HIV/STI Strategic Plan (NSP) Sri Lanka 2018 – 2022. This strategic plan includes five objectives, which will supports NSP’s vision to make ‘Country free of new HIV infections, discrimination, and AIDS related deaths’.
Increasing demand for home testing HIV diagnosis is encouraging key manufacturers to focus on developing portable, easy-to-use, and rapid diagnosis test. This in turn is expected to boost the market growth. For instance, in November 2018, Atomo Diagnostics’ Atomo HIV Self-Test was approved for sale in Australia by the Therapeutic Goods Administration (TGA). It is the first and only diagnostic self-test for HIV to have received approval from Australia’s national regulator.
There are various low-cost commercial tests used in low-resource settings for HIV screening. Moreover, most of the ready-to-use types of rapid flow tests are adopted by emerging economies, owing to cheap cost, convenient, portable, and requirement of few or no reagents or equipment, and ability to provide results within 30 minutes.
Most of the HIV infection diagnosis kits are deigned to work with a company’s own HIV analyzer, which offers exclusivity to deliver standardized testing results. For instance, F. Hoffmann-La Roche AG’s FDA approved COBAS AmpliPrep/COBAS TaqMan HIV-1 Test is an in-vitro nucleic acid amplification test for the quantitation of Human Immunodeficiency Virus (HIV-1) nucleic acid in human plasma. It is designed to use with the COBAS AmpliPrep Instrument and the COBAS TaqMan Analyzer or COBAS TaqMan 48 Analyzer for automated amplification and detection.
Browse 22 Market Data Tables and 14 Figures spread through 178 Pages and in-depth TOC on " Asia Pacific HIV Diagnostics Market, by Product Type (Instruments and Reagents & Kits), by Test Type (Screening {Third Generation and Fourth Generation}, Differentiation & Confirmation Test, and Monitoring Test {CD4 Tests and Viral Load Tests}), by End User (Hospitals and Clinics, Diagnostic Laboratories, Home Care Settings, and Others), and by Country (China, Japan, South Korea, ASEAN, India, Australia, and Rest of Asia Pacific) – Asia Pacific Forecast to 2026"
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Key Takeaways of the Asia Pacific HIV Diagnostics Market:
The Asia Pacific HIV diagnostics market is expected to expand at a CAGR of 12.3% during the forecast period (2018–2026), owing to increasing government initiatives for reducing the HIV/AIDS burden
Among product type, the reagents & kits segment is expected to witness significant growth, owing to increasing demand for diagnostic kits. For instance, rapid home test kits are used to diagnose HIV infection and involve self-collection and testing of biological samples by untrained users. These kits are highly preferred, owing to their ability to offer high efficiency, rapid test, ease of use, and less dependency on high infrastructure instruments.
Major players operating in the Asia Pacific HIV diagnostics market include, Abbott Laboratories, Merck KGaA, F. Hoffmann-La Roche AG, Atomo Diagnostics, Siemens Healthineers, Inc., bioLytical Laboratories Inc., MedMira Inc., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., and Danaher Corporation
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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