May 22, 2024

Asia Pacific HIV Diagnostics Market Propelled by rapid adoption of Point-of-Care diagnostic tests

The Asia Pacific region has witnessed significant prevalence of HIV infections over the past few decades. Point-of-care diagnostic tests have emerged as convenient tools for fast detection of HIV infections. These rapid and portable HIV diagnostic tests provide accurate results within 30 minutes, eliminating the need to send samples to a laboratory. The growing adoption of point-of-care diagnostic tests among patients and healthcare providers has boosted the Asia Pacific HIV Diagnostics Market. The global Asia Pacific HIV Diagnostics Market is estimated to be valued at US$ 522.5 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 key trends:
The massive uptake of point-of-care tests can be attributed to advantages such as convenience, rapidity, and ease-of-use. These user-friendly diagnostic platforms have enabled decentralization of HIV testing by taking diagnostic capabilities to the patient. This factor has significantly increased testing rates, as patients can get tested without visiting laboratories. Point-of-care tests also help in achieving the 90-90-90 UNAIDS HIV testing and treatment target. Such notable benefits offered by point-of-care diagnostic tests have accelerated their adoption across healthcare and non-healthcare settings in the Asia Pacific region. This growing uptake is expected to boost the revenue of the Asia Pacific HIV Diagnostics Market over the forecast period.

SWOT Analysis
Strength: The presence of high prevalence rates of HIV in Asian countries such as India, China and few Southeast Asian nations presents a large patient pool and considerable testing volume. Weakness: Unfavorable reimbursement policies and lack of awareness regarding HIV diagnostic tests in underdeveloped regions hampers market growth. Opportunity: Rising healthcare expenditure and increasing initiatives by governments and global health organizations to spreading awareness about HIV testing offers opportunities. Threats: Stringent regulatory framework for the approval of HIV diagnostic tests poses threat to emerging market players.

Key Takeaways
The Asia Pacific HIV Diagnostics Market is expected to witness high growth over the forecast period of 2023 to 2030.

Regional analysis: The market is dominated by China, India and few Southeast Asian countries owing to high prevalence of HIV infections in these regions. China accounts for around one third of the overall Asia Pacific HIV diagnostics market share due to large patient base.

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 key players are focusing on new product launches and geographic expansion to strengthen their market presence.

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  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it