The new report by Expert Market Research titled, ‘Global Human Immunodeficiency Virus (HIV) Rapid Test Kits Market Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global human immunodeficiency virus (HIV) rapid test kits market, assessing the market based on its segments like type, end use, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Forecast CAGR (2021-2026): 8%
- Forecast Market Size (2026): USD 245 Million
The increase in healthcare awareness has led to the rise in HIV rapid test kits market. These kits enable people to benefit from knowing their HIV status. It provides high level of accuracy. People prefer the rapid test kits because there is no fear that the HIV status will be disclosed to someone else. An oral test is less dangerous to the tester, because with an oral test, there is no risk to a health-care worker of accidentally being pricked by a needle or being exposed to blood. Rapid test kits provide quick results, which is a key factor driving the market.
Industry Definition and Major Segments
Rapid HIV tests are self-contained EIAs that detect HIV in whole blood or oral fluid specimens and can be used at the point of care yielding results within 30 minutes. HIV rapid test kits is severe among suppliers to provide practical, inexpensive, and reliable test kits.
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On the basis of type, the market is categorised into:
- HIV Rapid Immunoassay Test
- HIV Rapid Molecular Diagnostic Test
The human immunodeficiency virus rapid test kits market, is segmented on the basis of end use:
- Diagnostic Centres
- Hospitals and Clinics
The regional market for HIV rapid test kits include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Technological improvements and increase in investment in R&D activities is driving the demand of HIV rapid test kits. Non-experts can also perform testing equipment for point-of-care, which increases the use of the human immunodeficiency virus fast test kits in hospitals and clinics of HIV point-of-care testing, thus, aiding the industry growth. Increased awareness of HIV testing is prompting suppliers to produce innovative rapid test kits. Test kits are more reliable, and it helps people to get the results immediately and if the person is HIV positive then they can start treatment there and then and take steps to prevent transmission of the virus.
Key Market Players
The major players in the market are Abbott Laboratories (NYSE: ABT), Bio-Rad Laboratories Inc. (NYSE: BIO), Beckman Coulter Inc., F. Hoffmann-La Roche AG (SWX: ROG), Qiagen N.V. (NYSE: QGEN), and among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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