Why Will HIV Diagnosis Product Demand Surge in Future?

The World Health Organization (WHO) states that the human immunodeficiency virus (HIV) is a major public health issue, and has claimed 36.3 million lives by 2020. As per this organization, approximately 37.7 million individuals were living with HIV at the end of 2020. In 2020, this virus was responsible for 680,000 fatalities and was acquired by 1.5 million people globally. The WHO also forecasts that nearly 7.7 million HIV-related deaths will be recorded over the next 10 years, in the worst-case scenario.

 

Moreover, the surging public awareness about blood donations and blood transfusions, on account of the numerous initiatives being taken by federal and local governments, non-governmental organizations, and international bodies to encourage blood donations, will augment the usage of HIV diagnosis products in the upcoming years. Global and national associations such as the WHO, American Association of Blood Banks (AABB), International Federation of Red Cross and Red Crescent Societies (IFRC), and American Red Cross support several blood donor programs and encourage people to donate blood components and blood.

Additionally, the rising healthcare expenditure on reducing HIV cases and related issues will also propel the usage of HIV diagnosis products globally. For instance, the U.S. Federal Government allocated $21.5 billion, $6.8 billion, $3.1 billion, $2.6 billion, and $0.9 billion for domestic care and treatment of HIV/AIDS, overseas HIV/AIDS prevention and research, domestic cash housing assistance to affected individuals, domestic research on the virus, and domestic AIDS prevention programs, respectively, in 2019.

 

According to P&S Intelligence, the North American region dominates the HIV diagnosis market, wherein the U.S. is the dominant user of such products. The dominance of North America can be credited to the high burden of HIV/AIDS and hefty healthcare spending in the U.S. and Canada. The Centers for Disease Control and Prevention (CDC) states that 7,648 people aged 13–24 years, 13,127 individuals aged 25–34 years, and 7,147 persons aged 35–44 years were diagnosed with HIV in the U.S. in 2019.

 

Furthermore, the Asia-Pacific (APAC) region is expected to adopt a considerable volume of HIV diagnosis products, such as consumables, instruments, and software and services, in the forthcoming years. This will be on account of the soaring cases of HIV/AIDS, increasing frequency of blood transfusions, and burgeoning healthcare spending in the region. The U.S. Department of Health and Human Services and the Minority HIV/AIDS Fund states that APAC was home to 5.7 million HIV/AIDS patients in 2020.

 

Therefore, the growing prevalence of HIV/AIDS and mounting public awareness about blood donation and blood transfusions will result in high volume consumption of HIV diagnosis products worldwide.

Publicado en Health en septiembre 28 at 10:12
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