Research Nester has released a report titled “HIV Self-Testing Market – Global Demand Analysis & Opportunity Outlook 2025” which delivers detailed overview of the global HIV self-testing market in terms of market segmentation by sample, product technology, test generation and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global HIV self-testing market is segmented by sample into blood, oral fluid and urine, out of which, blood segment, which held the largest market share of 47.12% in the year 2018, is anticipated to cross USD 480.10 million by the end of 2025 by attaining a CAGR of 45.18% over the forecast period 2020-2025. Blood samples are usually used to conduct HIV tests. It has been observed that using blood samples provide the most accurate results, although at times, it might be invalid on the back of incorrect use of buffer, insufficient specimen and others.
The global HIV self-testing market, which was valued at USD 44.36 million in the year 2018, is anticipated to achieve a CAGR of 45.62% during the forecast period. Growing prevalence of HIV across the world, which continues to be a burden for nations around the globe, along with the opportunities observed in making HIV kits available in several nations where there are no policies for HIVST, and the increasing adoption of HIV self-testing kits on the back of increasing public sector funding and collaborations are some of the factors anticipated to promote towards the growth of the global HIV self-testing market. Further, the market for HIV self-testing is predicted to reach USD 1040.99 million by the end of 2025 and achieve a Y-o-Y growth rate of 40.77% in the year 2025 as compared to the previous year.
Regionally, the global HIV self-testing market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Factors such as presence of nations, such as Thailand and Cambodia, which are considered to be the centers of the HIV epidemic, is anticipated to help South East Asia HIV self-testing market attain a CAGR of 50.74% during the forecast period. Additionally, the market in the region was valued at USD 2.21 million in the year 2018. In the statistical report titled Global AIDS Epidemic by the UNAIDS and World Health Organization (WHO), stated that in South East Asia, around 0.3% of the adults in the region are infected with HIV. The HIV self-testing market in Latin America is believed to grow on the back of the presence of nations, such as Brazil, which has the highest prevalence of HIV, along with the availability of advanced treatment facilities for HIV in the nation and is anticipated to reach a value of USD 51.24 million in the year 2025.
Increasing Adoption of HIV Self-Testing Kits by Nations
In the statistical report titled Global AIDS Epidemic by the UNAIDS and World Health Organization (WHO), stated that in the year 2018, around 1.7 million people were affected newly by HIV and that nearly 770,000 people died of AIDS.
There is a rising need amongst individuals around the globe for testing HIV diseases in a private environment owing to the growing concern for AIDS amongst people. With the recent introduction of HIV self-testing kits in nations across the globe and the need to scale up rapid diagnostic test volume, coupled with the development of self-testing policies across several nations are some of the factors anticipated to drive the growth of the global HIV self-testing market during the forecast period. Additionally, growing investments of the government on healthcare is leading to a major share of purchase of HIV self-testing kits from the public sector. The government of nations are also promoting the use of such kits amongst the individuals which is also anticipated to drive the growth of the global HIV self-testing market.
However, concerns regarding preference of numerous doctors for restricting the use of HIV self-testing kits, along with the low availability of the product in pharmacies of low- and middle-income countries, low awareness among people for HIV self-testing, donor funded market for single product, limited choices for consumers, reduction in supply security and lengthy registration process for approval of locally manufactured products are some of the factors anticipated to limit the growth of the global HIV self-testing market.
This report also provides the existing competitive scenario of some of the key players of the global HIV self-testing market, which includes company profiling of OraSure Technologies, Inc. (NASDAQ: OSUR), Chembio Diagnostics, Inc. (NASDAQ: CEMI), WAMA Diagnostica, ECO Diagnostica, Orange Life and Ebram Produtos Laboratoriais Ltda. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global HIV self-testing market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.