LONDON--(BUSINESS WIRE)--The global HIV rapid test kits market size is poised to grow by USD 226.64 million during 2020-2024, progressing at a CAGR of over 6% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The global human immunodeficiency virus (HIV) rapid test kits market size is driven by 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.
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Report Highlights:
- The major HIV rapid test kits market growth came from the diagnostic centers in 2019, and is expected to register the highest growth during the forecast period.
- North America was the largest HIV rapid test kits market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to the high prevalence of AIDS, caused by the human immunodeficiency virus.
- The global HIV rapid test kits market is concentrated. Abbott Laboratories, Becton, Dickinson and Co., bioMérieux SA, Bio-Rad Laboratories Inc., Danaher Corp., F. Hoffmann-La Roche Ltd., Hologic Inc., Nectar Lifesciences Ltd., QIAGEN NV, and Trinity Biotech Plc. are some of the major market participants. To help clients improve their market position, this HIV rapid test kits market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global HIV rapid test kits market 2020-2024 is expected to have neutral growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Availability of a Broad Range of HIV Rapid Test Kits by Vendors will be a Key Market Trend
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.
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HIV Rapid Test Kits Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist HIV rapid test kits market growth during the next five years
- Estimation of the HIV rapid test kits market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the HIV rapid test kits market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of HIV rapid test kits market vendors
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Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End user
- Diagnostic centers - Market size and forecast 2019-2024
- Hospitals and clinics - Market size and forecast 2019-2024
- Market opportunity by End user
Market Segmentation by Type
- Market segments
- Comparison by Type
- HIV rapid immunoassay test - Market size and forecast 2019-2024
- HIV rapid molecular diagnostic test - Market size and forecast 2019-2024
- Market opportunity by Type
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- Asia - Market size and forecast 2019-2024
- ROW - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Volume drivers – Demand led growth
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Abbott Laboratories
- bioMérieux SA
- Bio-Rad Laboratories Inc.
- Danaher Corp.
- F. Hoffmann-La Roche Ltd.
- Hologic Inc.
- Nectar Lifesciences Ltd.
- QIAGEN NV
- Trinity Biotech Plc
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
