The HIV diagnosis market is projected to reach USD 3.88 Billion by 2021 from USD 2.35 Billion in 2016, at a CAGR of 10.5% from 2016 to 2021.
Market Dynamics
Drivers
+ Growing Worldwide Prevalence of HIV/Aids
+ Increasing Number of Blood Transfusions and Blood Donations
+ Benefits Offered By Point-Of-Care Instruments & Kits
+ Increasing Government Initiatives
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AIDS is a major public health concern with a prevalence rate that has increased dramatically in the past two decades. This increase in the prevalence of HIV, and the subsequent increase in the number of patients suffering from AIDS, has resulted in an increase in the demand for advanced technologies for HIV diagnostics.
According to the World Health Organization (WHO), in 2016, around 36 million people were diagnosed with HIV globally, of which 2.1 million were reported to be cases of new HIV infections. Globally, 1.1 million people died from HIV-related causes in 2015. According to the CDC, in 2015, more than 1.2 million people in the U.S. were reportedly infected with HIV, and almost 19% of these were not aware about their status.
According to Canada’s source for HIV, the CATIE, in 2014, 75,500 Canadians were found to be HIV-infected, and HIV incidence has increased by 9.7% since 2011. According to the Robert Koch Institute, there were 84,700 individuals with HIV in Germany in 2016 and more than 3,200 new cases of HIV in 2015. According to AVERT, in 2015, 5.1 million people were living with HIV/AIDS in Asia, of which only 64% population were aware about their HIV status. In the same year, 180,000 people died of AIDS in Asia.
This increasing prevalence of HIV across the globe will result in an increased need for diagnostic and testing procedures, which in turn will boost the HIV diagnostics market growth.
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