The Gene Expression Analysis Market size in Europe is forecasted to grow at a CAGR of 9.1% during the forecast period 2023 to 2028. This market was worth USD 1.39 Billion in 2023 and is expected to worth USD 2.15 Billion by 2028.
The key driving factor heavily impacting the European HIV diagnostics market is the rising prevalence of HIV/Aids in the region. According to The Joint United Nations Programme (UNAIDS), approximately 40 million people had HIV/AIDS across the globe in 2018. Also reported that around 1.7 million were newly infected with the virus. Additionally, the growing number of blood transfusions and blood donations are expected to drive the market in the upcoming years.
To tackle the acute disease and its complications, the Local government takes initiatives to help healthcare infrastructure and awareness about the condition. The U.K had an expenditure of 12.8% of GDP in 2020, rising from 10.2% in 2019. The government is also makings strict rules to decrease the number of infections caused due to improper blood transfusions and blood donations leading to HIV. In addition, the government is focused on creating awareness about the preventive methods for HIV disease. In 2018, approximately USD 20,000 million funds were available for AIDS prevention and treatment in the U.K. In addition, many NGOs and healthcare facilities provide free AIDS preventive products to reduce the spread of the disease in European nations.
Technological advancements have made evolution for quick and reliable HIV diagnostics tests. The European HIV diagnostic market is driven by the availability of point-of-care instruments and test kits. These kits can be used in the home setting as well. There are a large number of companies working towards the development of cheaper and accessible HIV diagnostic kits. Rising fund for research and development sector to develop novel drugs to treat AIDS. 1.2 million deaths were owing to HIV-related complications in 2018. According to the CDC, more than 1.5 million people in the U.K. were infected with HIV where almost 19% of them were undiagnosed.
Recent advancements in point of care testing have resulted in developing many new kits such as antiretroviral therapy, cluster differentiation (CD4) tests, rapid diagnostic tests (RDTs), viral load tests, and HIV early-infant diagnosis tests. However, preventive tests in immigrants and healthcare professionals will also drive the market growth rate in the forecasted period.
The social stigma and embarrassment associated with AIDS and HIV have a huge retarding impact on the market and lack of knowledge about the preventive measures needed for AIDS infection. Moreover, a lack of development and funds is required for research in many developing economies hampering the European HIV diagnostics market.
This research report on the Europe HIV Diagnostics Market has been segmented and sub-segmented into the following categories:
By End User:
Geographically, the Europe is one of the highest regions suffering due to HIV/AIDS. However, the European region is expected to gather good opportunities due to developing healthcare facilities, a high rate of blood transfusions, the growing rate of IV drug addicts, a large population, and growing innovations in the medical field.
France and Germany are estimated to grow at a high CAGR rate during the projected period. This market growth is due to the increasing focus on developing test kits and the presence of research laboratories and companies in the region. In 2019, nearly 165,000 people were diagnosed with HIV in Europe. According to a renowned Institute report, approximately 85,000 people were infected with HIV in Germany in 2017. According to AVERT, more than 2.5 million people are living with HIV/AIDS in Europe, and nearly 80,000 people die due to AIDS infection.
Other regions in Europe are also expected to have lucrative CAGR due to the increased prevalence of HIV and the growing need for diagnostic procedures, boosting the European HIV diagnostics market growth. Furthermore, due to their various factors, the demand is gathering international market players for the manufacture and distribution of technologically advanced rapid testing kits and instruments. All these factors will aid the growth of the HIV diagnostics market in the coming years.
KEY MARKET PLAYERS
Key players operating in the Europe HIV diagnostics Market profiled in this report are Abbott Healthcare, Brsitol-Myers Squibb, Alere Inc., Abbvie Inc., Janssen Therapeutics, Gilead Sciences, Merck & Co. Inc, BD Biosciences, Beckman Coulter, Partec, Sysmex, VIIV Healthcare, Apogee Flow Systems, Mylan inc., PointCare Technologies Inc., Zyomyx Inc., Roche Diagnostics, Qiagen, Siemens Healthcare, and bioMerieux.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2000
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]