Transparency Market Research (TMR) has published a new report titled, ‘HIV/AIDS Immunoassay Diagnostics Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027.’ According to the report, the global HIV/AIDS immunoassay diagnostics market was valued at ~US$ 550 Mn in 2018 and is projected to expand at a CAGR of ~5% from 2019 to 2027. Overview
Human immunodeficiency virus (HIV) belongs to the retrovirus family. HIV is transmitted through unprotected sex with an infected person, transfusion of HIV infected blood, and sharing needles contaminated with HIV infected blood. Rise in prevalence of HIV across the globe, HIV infections among young population, blood donations, awareness about HIV diagnosis across the globe, and favorable initiatives by governments for HIV/AIDS diagnosis and prevention are key factors that are anticipated to drive the global HIV/AIDS immunoassay diagnostics market during the forecast period North America held a major share of the global HIV/AIDS immunoassay diagnostics market in 2018. It is primarily driven by factors such as presence of key market players, highly structured health care industry, and key developments by market players such as product launch approvals, key mergers, and acquisitions. The HIV/AIDS immunoassay diagnostics market in Asia Pacific is expected to expand at a high CAGR of ~7% from 2019 to 2027. Increase in the number of people with sexually transmitted diseases, rise in incidence of HIV infection among young adults, product approvals, and rise in awareness about HIV/AIDS diseases are factors anticipated to fuel the growth of the HIV/AIDS immunoassay diagnostics market in the region.
Request Brochure of Report - https://www.transparencymarketresearch.com/sample/sample.php? flag=B&rep_id=74619 Increase in Prevalence of HIV Infections across the Globe to Drive Market
HIV is basically transmitted through unprotected sex with an infected person, transfusion of HIV infected blood, and sharing needles contaminated with HIV infected blood. Rise in the number of patients with HIV contamination at an alarming rate in several countries is a major factor likely to drive the revenue of a large number of diagnostic labs and clinics in the near future. According to the WHO, HIV continues to be a major global public health issue. Based on UNAIDS report 2018, 39.6 million adults and children were living with HIV and approximately 940,000 individuals died from HIV globally. Approximately 1.7 million people were newly infected with HIV globally, in 2018 Majority of the affected population lives in lower and middle-income countries. Middle East & Africa and Asia Pacific have high incidence rate of HIV infections across the globe. Hence, rise in prevalence of HIV is projected to increase the demand for HIV diagnostics which, in turn, is anticipated to boost the growth of the market According to HIV.org, approximately 1.1 million people in the U.S. were living with HIV in 2018 According to Avert.org, approximately 2.2 million people in Western Europe were living with HIV infections in 2018. Moreover, Eastern Europe witnessed a 29% increase in new HIV infections annually between 2010 and 2018.