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The Asia Pacific HIV diagnostics market is engaged in developing rapid point-of-care and home-based diagnostic kits that helps in early detection of HIV. HIV diagnostics helps in confirming HIV infection and monitoring response to antiretroviral treatment. The growing burden of HIV/AIDS and rising government focus on awareness campaigns to curb the social stigma associated with the disease are fueling the demand for HIV diagnostics in the region.
The Global Asia Pacific HIV Diagnostics Market is estimated to be valued at US$ 522.5 Mn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period from 2023 to 2030.
Key Takeaways
Key players operating in the Asia Pacific HIV diagnostics 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 developing innovative diagnostic kits to detect the virus early.
The growing demand for HIV diagnostic kits in developing countries like India and China due to rising incidence of HIV infections is driving the market growth. According to UNAIDS, there were around 2.3 million people living with HIV in India at the end of 2020.
The increasing number of awareness programs by governments and NGOs has led to reduced social stigma related to HIV testing. This has encouraged more people to opt for HIV testing, thereby fueling demand. Key market players are also expanding their presence across different geographies in the region to tap the market potential.
Market key trends
The growing adoption of point-of-care HIV diagnostic tests is one of the key trends in the market. POC HIV diagnostic kits provide test results within 20-40 minutes, enabling healthcare professionals to counsel and treat patients immediately. This decentralized testing helps in curbing new infections. POC tests are also useful for screening in remote areas with limited access to laboratories.
Market Overview: The Asia Pacific HIV Diagnostics market is engaged in developing rapid point-of-care and home-based diagnostic kits that helps in early detection of HIV. HIV diagnostics help in confirming HIV infection and monitoring response to antiretroviral treatment. The growing burden of HIV/AIDS and rising government focus on awareness campaigns to curb the social stigma associated with the disease are fueling the demand for HIV diagnostics in the region.
Porter’s Analysis
Threat of new entrants: Low barriers for new players to enter this growing market but established distribution channels and customer loyalty poses threat.
Bargaining power of buyers: Large buyers like government agencies and health institutions have significant bargaining power due to high volume purchases.
Bargaining power of suppliers: Few global players dominate the supply chain so supplier power is high.
Threat of new substitutes: Threat from new testing methods is moderate as no major substitution expected in near future.
Competitive rivalry: Intense competition among key players to gain market share and create brand loyalty through differentiated offerings.
Geographical regions
Asia Pacific region contributes over 40% of the total market value led by India, China and Japan. Easy availability and affordable diagnostics coupled with rising awareness drives the market.
The fastest growing region is expected to be South East Asia with a projected CAGR of around 15% during the forecast period. Rapid economic development, improving healthcare infrastructure and initiatives by governments and global organizations to control HIV infections will boost diagnostics uptake in countries like Indonesia, Vietnam and Malaysia.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
