HIV/HBV/HCV Test Kits Market
The growing burden of HIV and viral hepatitis infections is believed to fuel the market for HIV/HBV/HCV test kits. Test-based test kits are expected to gain significant market share as this will be the first round of testing prescribed to patients. In addition, healthcare professionals and patients in most developing regions rely on test results. The proliferation of initiatives by government organizations and NGOs to raise awareness of available test materials and treatment options is expected to fuel the growth of the HIV/HBV/HCV test kits market over the forecast period.
The growing adoption of point-of-care testing is expected to drive demand for rapid test kits and will increase rapidly in the forecast years. According to the latest IMF report, the market value of HIV/HBV/HCV test kits is expected to reach $9.4 billion worldwide by 2029. The report also predicts that the HIV/HBV/HCV test kit market will grow at an estimated CAGR. will grow. by 7.0% during the forecast period 2019-2029.
Over the past decades, HIV / HBV / HCV test kits have grown in popularity and demand has increased worldwide. According to the United Nations Program on HIV / AIDS (UNAIDS), the global adult HIV prevalence was around 0.8% in 2017, with 75% of people knowing their HIV status. 79% of them will be treated. The demand for rapid combination test kits is expected to grow rapidly, which is expected to account for a significant share of sales in the HIV / HBV / HCV test kits market over the forecast years. Combination rapid test kits provide results for HIV, HBV and HCV infections, as well as a sample in 20 minutes to half an hour. This factor is expected to play an important role in the growth of the HIV / HBV / HCV test kits market.
Lack of knowledge of available treatment options and the asymptomatic nature of infections are likely to hinder the growth of the market for HIV/HBV/HCV test kits. In 2015, about 257 million people with chronic hepatitis B infection and 71 million people with chronic hepatitis C infection were alive because they were unaware of the symptoms. This left the majority of the population behind. The HIV/HBV/HCV test kit markets in East Asia and Africa are expected to see significant patient growth due to the high prevalence of infections in these regions, combined with a lack of awareness, poor health and treatment facilities.
More research and development and clinical trials, measures to reduce treatment costs, and initiatives by governments and NGOs to raise awareness and offer free testing centers are some of the factors driving the growth of clinical trials. . The market for HIV/HBV/HCV test kits in East Asia is estimated to create an additional opportunity of approximately $7.7 billion between 2019 and 2029.
The global HIV/HBV/HCV test kits market is segmented on the basis of kit type, sample type, end user and regions. Furthermore, the market for HIV/HBV/HCV test kits is divided into combination-based test kits, rapid test kits and rapid test kits for the detection of HIV infections and hepatitis B&C viruses. The sample types segment of the HIV/HBV/HCV test kits market is segmented into blood, urine and saliva. The type of blood sample is expected to play an important role in the forecast period. As for end users, HIV/HBV/HCV test kits are divided into hospitals, clinics, diagnostic labs, government organizations and NGOs and others.
The report tracks some of the key companies operating in the HIV/HBV/HCV Test Kits market, such as Hoffmann-La Roche Ltd., Abbott Laboratories, bioMérieux SA, Bio-Rad Laboratories Inc., QIAGEN, Hologic Inc., Meridian Bioscience , Inc., Maternova, Siemens AG and Creative Diagnostics.
Sources- market research blog
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