Human Immunodeficiency Virus (HIV) Rapid Test Kits Market worth USD 236.46 Million, at 7% CAGR During 2019-2023 | Technavio

LONDON–(BUSINESS WIRE)–#Biotechnology–According to Technavio Research Report “Human
Immunodeficiency Virus (HIV) Rapid Test Kits Market by
end-user (diagnostic centers; and hospitals and clinics), and geographic
regions (North America, Europe, Asia, and ROW) is witnessed to
grow USD 236.46 million, at a CAGR of 7% from 2019 to 2023”.

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Global human immunodeficiency virus (HIV) rapid
test kits market: Availability of a broad range of HIV rapid test kits
by vendors

Vendors in the HIV rapid test kits market have been making strenuous
efforts to manufacture test kits that are efficient, reliable, and
affordable. The high prevalence of HIV, rising awareness with regards to
HIV testing, and a paradigm shift from treatment to prevention in the
healthcare system are some of the key factors that are encouraging
existing and new players in the market to bring innovative products into
the market. Vendors are mainly focusing on developing cost-efficient
testing products as cost is one of the major factors in the adoption of
HIV rapid test kits. Thus, the presence of a broad range of HIV rapid
test kits will increase the adoption of HIV rapid test kits in the
coming years.

“Apart from the availability of a broad range of HIV rapid test kits,
other factors such as increasing clinical studies by researchers,
promotional activities by vendors, and efforts to increase
pre-marital screenings for HIV will have a significant impact on the
growth of the HIV rapid test kits market size during the forecast
period,” says a senior analyst at Technavio.

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Global Human Immunodeficiency Virus (HIV) Rapid
Test Kits Market: Segmentation analysis

This market research report segments the global human immunodeficiency
virus (HIV) rapid test kits market segmentation by end-user (diagnostic
centers; and hospitals and clinics), and geographic regions (North
America, Europe, Asia, and ROW).

The North American region led the human immunodeficiency virus (HIV)
rapid test kits market in 2018, followed by Europe, Asia, and ROW
respectively. The growth of the HIV rapid test kits market in North
America is led by the US due to the presence of many established
vendors. The market growth in this region can be attributed to the
increase in HIV cases, and increasing awareness about HIV prevention,
testing and its subsequent treatment.

Global Human Immunodeficiency Virus (HIV) Rapid
Test Kits Market: Growing demand for
point-of-care testing for HIV

A key factor driving the growth of the global human immunodeficiency
virus (HIV) rapid test kits market size is the growing demand for
point-of-care testing for HIV. The prevention and control of HIV
requires early diagnosis, early initiation of treatment, and accurate
viral loading measurements. In this context, POC technologies are needed
in places where there is a large pool of high-risk patient population.
POC testing technologies are more affordable and accessible. In addition
they offer several other advantages such as portability, ease of
operation, and minimal maintenance. The growing demand for point-of-care
testing for HIV will thus drive the demand for HIV rapid test kits over
the next five years.

Few Major Vendors in the Human Immunodeficiency Virus (HIV) Rapid Test
Kits Market are:

• Abbott Laboratories
• Bio-Rad Laboratories Inc.
• Danaher Corp.
• F. Hoffmann-La Roche Ltd.
• QIAGEN Group

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