POC HIV Testing Market to grow by USD 290.77 million from 2022-2027, Asia to account for 33% of market growth - Technavio
NEW YORK, Sept. 24, 2023
NEW YORK, Sept. 24, 2023 /PRNewswire/ -- The POC HIV testing market size is expected to grow by USD 290.77 million from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of 2.91% during the forecast period, according to Technavio Research. The market has been segmented by Product (POC HIV testing equipment and POC HIV testing reagents), End-user (Diagnostic labs, Hospitals and clinics, and Others), and Geography (North America, Europe, Asia, and Rest of the World (ROW)). Asia will contribute 33% to the growth of the global market during the forecast period. Another region offering significant growth opportunities to vendors is North America. The point of care (POC) HIV testing market in North America has experienced major growth and innovation in recent years. The government and non-government organizations in the US include regular health check-ups as a part of their wellness programs. This leads to augmenting the demand for POC HIV testing, which, in turn, propels the POC HIV testing market growth. For instance, the Get Tested website service provided by the Centers for Disease Control and Prevention (CDC) enables people to find fast, free, and confidential testing centers near their desired locations in the US. Hence, such factors fuel the POC HIV testing market in North America during the forecast period. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read a PDF Sample Report
Abbott Laboratories, AltraTech Ltd., Becton Dickinson and Co., Binx Health Inc., bioMerieux SA, Cochrane, Community Pharmacy England, CVS Health Corp., Danaher Corp., DrSafeHands, F. Hoffmann La Roche Ltd., Island Health, J. Mitra and Co. Pvt. Ltd., MH Sub I LLC, Orchard Healthcare Pvt. Ltd., OraSure Technologies Inc., SHINE SA, Walter de Gruyter GmbH, Yashoda Hospitals, bioLytical Laboratories Inc.
Abbott Laboratories - The company offers POC HIV testing such as Determine HIV 1 or 2 AG Combo.
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POC HIV Testing Market: Segmentation Analysis
By Segment - The POC HIV testing equipment segment will be significant during the forecast period. Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a PDF Sample Report
"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio
POC HIV Testing Market: Driver & Trend:
- The increasing prevalence of HIV aids worldwide
- Rapid growth in outsourcing of laboratory testing services
- Advantages of POC HIV testing
The increasing prevalence of HIV worldwide drives the growth of the POC HIV testing market. Increasing HIV incidence, expanding high-risk populations, and limited access to prevention measures are some of the major factors for the growing demand for POC HIV testing and point-of-care HIV testing market growth. Furthermore, the demand for POC HIV testing grows to address existing infections as prevention measures are not universally available or accessible. Hence, such factors are expected to collectively contribute to the increasing prevalence of HIV drive the demand for POC HIV testing and, in turn, fuel the growth of the market in focus during the forecast period.
The rise in awareness programs for HIV testing is an emerging POC HIV testing market trend. Identify key trends, drivers, and challenges in the market. Download a Sample Report to gain access to this information.
- How do the major trends impact the market?
- How big is the Asia market?
- How do the key drivers and challenges impact the market?
The global HIV drugs market size is estimated to grow by USD 10,477.51 million at a CAGR of 5.46% between 2022 and 2027. Technavio has segmented the market into distribution channel, therapy, and geography. Expanding access to HIV treatment is a key trend in the market.
The HIV treatment drugs market size in Africa is estimated to grow at a CAGR of 3.76% between 2022 and 2027. The size of the market is forecast to increase by USD 321.6 million. This report extensively covers market segmentation by drug class (reverse transcriptase inhibitors, protease inhibitors, integrase inhibitors, fusion inhibitors, and coreceptor antagonists), route of administration (oral drugs and injectable drugs), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The increasing prevalence of STDs is notably driving the market growth.
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by End-user
Market Segmentation by Geography
Drivers, Challenges, & Trends
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