Press release
HIV Rapid Test Kits Market to Reach $1.68 Billion by 2028 - Arizton
HIV Rapid Test Kits Market Research Report by Arizton
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Raise of Next-Generation HIV Test Technology
The rise of fourth-generation rapid test kits has become more popular in recent years. This technology is more accurate and reliable for screening the acute HIV presence in the sample. The 4th generation HIV test easily detects HIV in lesser time and more accurately than other generation technologies. Such factors allow individuals to get a cure sooner and potentially prevent the spread of infection to others. One of the leading HIV rapid test kit market players, OraSure Technologies, got approval for a home test kit known as "OraQuick In-Home HIV Test," which gives results in 20 to 40 minutes.
The Evolution of Fourth - Fifth Generation HIV Rapid Test Kits is Booming
The application of fourth-generation and fifth-generation rapid test kits is currently high in the market and is expected to become popular in the upcoming years. Fourth-generation HIV test kits are designed to identify HIV antibodies with a blood sample and HIV-specific antigen (p24). Hence, the introduction of fourth-generation HIV kits expects to increase the revenue of the blood sample-based kits in the upcoming years as their acceptance is likely to increase. Older-generation HIV test kits, such as third-generation HIV test kits, are unreliable until three months after exposure to HIV. Hence, these limitations increase the demand for fourth-generation HIV rapid test kits globally.
Moreover, the introduction of digital support for HIV self-testing and government initiatives to boost market sales. The application of digital tools in HIV management is increasing rapidly, which is expected to fuel the adoption of HIV self-testing rapid test kits. These interventions are currently improving HIV care and diagnosis. In 2021-2022, the HIV Self-Testing (HIVST) deployment and digital tool integrations in health services were emerging, but it was a priority for UNAIDS. In healthcare services, digital health technologies are achieving high traction in high-and middle-income countries. Furthermore, telemedicine has allowed the continuity of HIV care for many patients. The COVID-19 pandemic covers the roadmap for the evolution of HIV self-testing with digital support to reduce the gap in HIV care deliveries.
North America Accounted for More than 31% of the Global HIV rapid test Kit Market Share
North America, APAC, Middle East & Africa, Europe, and Latin America are the major geographies covered in the global HIV rapid test kits market. In 2022, North America accounted for a 31.06% share of the global HIV rapid test kits market and dominated it with high revenue generation. The factors propelling the market growth in the region are high HIV prevalence and increasing awareness of the disease. In addition, government-backed programs and initiatives for HIV self-testing support the market growth in the region. APAC and Middle East Africa expect to offer lucrative market growth opportunities during the forecast period.
Many companies are collaborating with the WHO and UNAIDS to increase the rate of HIV self-testing, thereby supporting HIV rapid test kits market growth. In 2022, the WHO partnered with the Clinton Health Access Initiative (CHAI), Wondfo Biotech Company, and MedAccess. These partnerships make available HIV-self-test kits for only $1 in the public sector in LMICs. This is expected to increase the high market competition among leading market players. Inorganic growth strategies by leading market players have created entry barriers for many small and emerging players.
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Adoption of Innovation Lateral Flow Immunoassay is High Across HIV Rapid Test Kits Market
Several companies in the market are coming up with low-cost lateral flow-based HIV test kits. Many regulatory bodies, such as the WHO and other NGOs, are funding HIV test kit manufacturing. This will help companies to come up with unique products for the market. The level of innovations in the lateral flow immune assay is high in the market. In LMICs, there is a constant rise in the prevalence of HIV infection, which demands the usage of HIV rapid diagnostic test kits to increase significantly. Lateral flow immune assays are more user-friendly and are highly used among people with limited access to healthcare settings. Most health authorities and healthcare settings suggest immunochromatographic rapid test kits. In Western African countries, the newly developed and available HIV rapid test kits, developed based on the immunochromatographic assay, are commonly used. Market players expect to have high market growth opportunities in Africa.
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Key Company Profiles
Abbott
Bio-Rad Laboratories
BIOMÉRIEUX
Chembio Diagnostics
OraSure Technologies
Atomo Diagnostics
AccuBioTech
bioLytical Laboratories
Biosynex
Cupid Limited
DIALAB
HUMAN
INTEC
Mitra & Co
Meril Life Sciences
MP Biomedicals
Medsource Ozone Biomedicals
Nanjing Synthgene Medical Technology
Premier Medical
SD Biosensor
KHB (Shanghai Kehua Bio-Engineering co., Ltd.)
Türklab A.S.
Trinity Biotech
Wantai BioPharma
Wondfo
Market Segmentation
Technology: Lateral Flow Immunoassay and Immunofiltration
Sample Type: Blood, Oral Fluid, and Urine
Distribution Channels: Offline and Online
Geography: North America (the US and Canada), Europe (France, Italy, Ukraine, Portugal, and Russia), APAC (China, India, Indonesia, Thailand, and Vietnam), Latin America (Brazil, Mexico, Columbia), Middle East & Africa (South Africa, Mozambique, Kenya, Nigeria, and Tanzania)
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Arizton's Expertise in the Healthcare Industry
Arizton offers syndicate and custom market intelligence & competitive intelligence solutions across MedTech, pharmaceuticals, and life sciences & biotechnology markets within the healthcare industry. Arizton's healthcare vertical provides unbiased research and evidence-based analysis to support business decisions and comprehensive end-to-end solutions to its customers, covering all dimensions of the healthcare value chain. We track various devices (equipment, implants, and hospital supplies) and drugs (patented, generic, & OTC) across North America, Europe, APAC, Latin America, and the Middle East & Africa regions. The healthcare reports provide historic and forecast data for 20+ key countries worldwide. We track product approvals/launches, M&A activities, and collaboration/partnership activities among pharma/biotech, medical device, and life sciences companies. Our pharmaceutical portfolio tracks 15+ therapy areas with a major focus on immunology, oncology, rare & genetic diseases, dermatology, and metabolic diseases. Our medical devices and life sciences portfolio covers in-vitro diagnostics, healthcare IT, patient monitoring, cardiovascular devices, medical imaging, personal protective equipment, clinical laboratory services, and CMO/CDMO services.
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Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
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