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The Asia Pacific HIV Diagnostics Market is estimated to be valued at US$ 522.5 Mn or Mn in 2023 and is expected to exhibit a CAGR of 12.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Asia Pacific HIV Diagnostics Market includes products used to detect the presence of HIV antibodies or HIV antigens in the body. The major products types are consumables like needles and syringes, lancets, rapid test kits, western blot kits and others. These kits help in confirmatory as well as screening purposes. The market also includes instruments used for detection like spectroscopy instruments, chromatography instruments, molecular diagnostics instruments, and immunoassay analyzers. The increasing prevalence of HIV in developing Asian countries and growing awareness regarding regular screening drives the market growth.
Market Dynamics:
The major drivers boosting the Asia Pacific HIV Diagnostics Market are increasing government initiatives to spread awareness about HIV diagnostics, rising prevalence of HIV infections and increasing adoption of rapid diagnostics. According to UNAIDS, there were an estimated 2.1 million people living with HIV in Asia and the Pacific in 2019. This high prevalence is driving the demand for efficient and rapid HIV diagnostic solutions. Further, the government across countries are undertaking awareness campaigns regarding prevention, testing and treatment of HIV infections via social media, print and television. They are pushing the adoption of rapid screening through point of care facilities. Additionally, rapid test kits offer greater access and affordability over standard tests. They provide results within 30 minutes without any specialized equipment or facilities, propelling their demand.
Segment Analysis
The Asia Pacific HIV Diagnostics market is segmented into assays, kits & reagents, instruments, and software & services. The assays segment dominated the market in 2022 and is expected to continue its dominance over the forecast period owing to greater adoption of ELISA and rapid immunoassays for HIV screening. ELISA assays are widely used owing to their accuracy and ability to detect both antibodies and antigens.
PEST Analysis
Political: Governments in various Asia Pacific countries have implement policies to spread awareness about HIV/AIDS and implement screening programs, promoting the market growth.
Economic: Increasing healthcare spending coupled with growing disposable incomes has been fueling the demand for advanced HIV diagnostic tests in the region.
Social: NGOs and non-profit organizations are working towards reducing the social stigma associated with HIV/AIDS and promoting access to diagnostic services, especially in rural areas.
Technological: Introduction of innovative rapid test kits, integration of AI & automation in instruments, and development of sensitive molecular assays are some of the technological advancements enhancing HIV detection capabilities.
Key Takeaways
The Asia Pacific HIV Diagnostics market is expected to witness high growth, exhibiting 12% CAGR over the forecast period, due to increasing government initiatives to spread awareness and scale up screening programs. The market size for 2023 is estimated to be US$ 522.5 Mn.
Regional analysis: China and India are expected to be the fastest growing markets in the region owing to large patient pools and improving access to diagnostics in rural areas. South Korea and Japan also hold significant shares due to advanced healthcare infrastructure and high adoption of sophisticated diagnostic technologies.
Key players analysis: Key players operating in the Asia Pacific HIV Diagnostics market are 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. These players are focusing on new product launches, partnerships, and regional expansion strategies to garner higher shares.
