Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 182.4 Million | USD 456.1 Million | 16.5% | 2021 |
FrequentlyAsked Questions
Adoption of in-vitro assay methods for retrovirus diagnosis is increasing due to an increase in the incidence of sexually transmissible diseases, as is an investment in research and development, boosting the global retrovirus testing market. The introduction of rapid and technologically sophisticated methods for detecting retroviral infections, rising awareness of diagnostic tests, and rising costs associated with retrovirus screening are anticipated to drive the global market for retrovirus testing during the forecast period.
According to the report, the global retrovirus testing market size was worth USD 182.4 million in 2021 and is estimated to grow to USD 456.1 million by 2028, with a compound annual growth rate (CAGR) of approximately 16.5 percent during the forecast period.
North America is anticipated to continue leading the retrovirus testing market throughout the projected period. The key factors driving the regional market growth are increased awareness about retrovirus diagnosis, well-established healthcare infrastructure, and increased research and development activities investments. Moreover, according to HIV.gov statistics published in June 2021, nearly 2 million individuals in the United States have HIV. This suggests that the prevalence of HIV in the nation is high, which will increase demand for its diagnosing products and further propel the regional market.
Some of the main competitors dominating the global retrovirus testing market include - BGI Genomics, Abbott Diagnostics, Alere Inc, Hybribio Biotech, Roche Diagnostics Ltd, Tellgen Corporation, DiaSorin S.p.A., Dian Diagnostics, bioMerieux SA, Becton, Dickinson & Company, Xilong Scientific.
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