HIV Diagnosis Market

HIV Diagnosis Market Size by Type (Consumables, Instruments, Software and Services), Technology (Antibody Test, Viral Load Tests, CD4 Tests, Tests for Early Infant Diagnosis, Tests for Viral Identification), End Use, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-12557
  • Published Date: Oct, 2021
  • Pages: 239
  • Category: Healthcare
  • Format: PDF
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The global HIV diagnosis market is expected to reach USD 10.47 billion by 2032, at a CAGR of 12.35% from 2023 to 2032. The increasing prevalence of HIV/AIDS globally is one of the major factors driving the market's growth.

Market Overview:

HIV weakens the immune system. Untreated HIV affects CD4 cells, which eventually gets deteriorate. As more CD4 cells are lost to HIV, the body becomes more vulnerable to contracting other illnesses and cancers. Blood tests most frequently are used for HIV diagnoses. These tests search for the virus-specific antibodies that the body produces to combat the virus. Even though it might take the body anywhere from six weeks to a year to acquire antibodies to the virus, anyone exposed to it should get tested every once. Depending on the initial period of exposure, more tests might be required. Patients with clinical signs and symptoms of acute or chronic infection and those who may have been exposed to HIV should undergo HIV testing to be diagnosed with the virus. Routine screening of healthy people, including pregnant women, should also include HIV testing. Although HIV tests are pretty accurate, no test can immediately find the virus after infection. The sort of test being performed will determine how quickly HIV can be detected. HIV testing comes in three forms: antigen/antibody tests, antibody tests and nucleic acid tests. Antigen or antibody tests are typically used for the initial testing of HIV.

HIV Diagnosis Market Size

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Market Dynamics:

Drivers
  • Rise in the prevalence of sexually transmitted diseases

The number of infected people is still rising throughout many decades of the HIV pandemic. The socioeconomic factors that underlie this ongoing rise also point to a failure in preventative efforts. There are more than 20 million estimated new instances of sexually transmitted diseases in the United States each year, and the rates are rising despite though many of these infections are avoidable. Moreover, more than 1.2 million HIV-positive people are living in the U.S. Efforts to promote sexually transmitted diseases testing, and screening can determine a person's risk of contracting them and assist those who already have one in receiving treatment, improving their health and reducing the likelihood that HIV will spread to others. In 2021, there were about 38.4 million HIV-positive individuals worldwide. Almost 54% of these were women and girls.

Restraints:
  • Complexity in the testing window period

The window period is one of the most significant issues with HIV testing. A negative test result can indicate that a person has recently become HIV-positive. The window of testing is crucial in determining the actual results of the person. Thus, this complexity hampers the growth of the HIV diagnosis market.

Opportunities:
  • Rising initiatives by global agencies for curbing the cases

One of the most critical public health issues in the world is HIV. Thus there is an international commitment to halting new HIV infections and providing access to treatment for HIV to everyone around the globe. WHO advises getting tested for HIV for everyone who may be at risk. In the early stages of the crisis, the World Bank pioneered worldwide finance for HIV/AIDS and has given US$4.6 billion since 1989 for initiatives connected to the disease. Around 7 million people have been tested for HIV due to funding from the Bank, specifically through the International Development Association, for 1,500 counselling and testing facilities.

Challenges:
  • Lack of awareness regarding diagnosis in the underdeveloped countries

The under-developed regions of Asia-Pacific, Middle-east and Africa are lagging regarding HIV diagnosis. These regions need an adequate amount of diagnostic centres. Further, most of the patient population must be made aware of the diagnosis procedure, which limits the market expansion in such regions.

Segmentation Analysis:

The global HIV diagnosis market has been segmented based on type, technology, end-user, and region.

  • The type segment is divided into consumables, instruments, software, and services. The consumable segment accounted for a significant market share in the global HIV diagnosis market and held a market share of 57.22% in 2022. Consumables are necessary for conducting the HIV diagnosis on patients. Consumables are required in HIV diagnosis procedures for the collection of samples.
  • The technology segment includes antibody tests, viral load tests, CD4 tests, tests for early infant diagnosis, and tests for viral identification. The antibody test segment dominated the global market and held a market share of 41.36% in the year 2022. Antibody tests are used for both clinical uses with patients and for monitoring and assessing the immune status of the general population. Between 18 and 45 days after exposure, a lab test for antigens and antibodies in blood from a vein can typically detect HIV.
  • The end-user segment includes diagnostic laboratories, hospitals, blood banks, home care settings, and others. The home care setting is projected to grow at the highest CAGR of 9.23% over the forecast period. Many patients hesitate to visit a diagnostic centre or hospital for their diagnosis. Thus, self-diagnosis kits are used by patients in home care settings to diagnose HIV.
Regional Segmentation Analysis:

The regions analyzed for the global HIV diagnosis market include North America, Europe, South America, Asia Pacific, the Middle East and Africa. The North American region had a significant market share of 39.71% in 2022.

  • North America has a high incidence of HIV. The cases of HIV have been increasing in the U.S. for a more extended period. Almost 1.2 million people have been diagnosed with HIV in the U.S. till now. Regional and global agencies are investing vast funds in providing most people access to diagnosis. Also, many international players have their manufacturing base in the region.
  • The Asia Pacific region is projected to grow at the highest CAGR of 10.5% over the forecast period. Increasing initiatives for creating awareness in countries such as India, China, and Japan have led to a higher rate of HIV diagnosis. The cases of HIV have increased in these countries due to changing socioeconomic conditions and demographics. Further, increasing investments in healthcare institutions and awareness programmes are leading the market growth in the Asia Pacific region.

North America HIV Diagnosis Market Share in 2022 - 39.71%

 

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Competitive Analysis:

The key players in the global HIV diagnosis market are focusing on adopting various strategies such as new product development, joint venture, collaboration, technological integration, product innovations, mergers & acquisitions, and partnerships to gain a significant market share in the industry.

In July 2018, Abbott Healthcare announced the launch of m-PIMA HIV-1/2 VL, the first viral load point-of-care test for the fast, accurate, easy-to-use test to manage HIV.

In March 2020, Johnson & Johnson's company, The Janssen Pharmaceutical Companies, announced that Health Canada had approved CABENUVA (injectable suspensions) for treating HIV-1 infection in adults.

List of Key Market Players:
  • Alere Inc.
  • Abbvie Inc.
  • Abbott Healthcare
  • Bristol-Myers Squibb
  • Gilead Sciences
  • Janssen Therapeutics
  • Merck & Co. Inc.
  • Beckman Coulter
  • B.D. Biosciences
  • Partec
  • PointCare Technologies Inc.
  • Sysmex
  • Zyomyx Inc
  • Roche Diagnostics
  • Mylan Inc.
  • Qiagen
  • Siemens Healthcare
  • bioMerieux
Key Target Audience
  • Government Bodies
  • Investors/Shareholders
  • Regulatory bodies
  • World Health Organization
  • Pharmaceutical Companies
  • Vendors of kits and Instruments

Report Description:

  • Global HIV Diagnosis Market, Industry Analysis, Trends, Analysis and Forecast, 2023 to 2032, is a forthcoming/imminent research report to be published by The Brainy Insights.
  • 2022 is considered the base year of the report. 2019, 2020 and 2021 are the historical years, and 2023 to 2032 are the forecast years. The global HIV diagnosis market is based on revenue (USD Million/Billion), volume and price. The report incorporates the market study based on revenue and volume. The study covers the market share revenue/market share/volume for each segment, region and country catering to the global HIV diagnosis market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses the relative data & information the leading industry professionals and experts have validated globally. The research report also outlines the attractiveness of HIV diagnosis and regions, deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom market growth and development in future.
  • The report illustrates the detailed (quantitative and qualitative) analysis of historical data, revenues, key developments, and key strategies adopted by key organizations catering to the global HIV diagnosis market. This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers a detailed study of the company profiles of key organizations operating in the global HIV diagnosis market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development &innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario. 
  • The report provides an elaborative assessment of porter's five forces analysis and a SWOT analysis to provide business-related data and information. Porter's five forces model is analyzed to understand the prevailing competitive scenario in the market. Additionally, the SWOT analysis identifies the positive and negative attributes of the market development, which influences the company's growth and development to sustain and survive in the long run.
  • The report also focuses on the market-related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development, which is a key potential for the investors. 
  • Potential growth prospects, along with the penetration rate analysis of the products (market-related, i.e., global HIV diagnosis market), are covered to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the HIV Diagnosis market was valued at USD 2.59 billion in 2020 and is anticipated to reach USD 6.45 billion by 2028.

Global HIV Diagnosis market is growing at a CAGR of 12.35% during the forecast period 2021-2028.

The global HIV Diagnosis market has been segmented based on type, technology, end use, and regions. The consumables segment dominated the global market and held the largest market share in the year 2020.

The North America region emerged as the largest market for the HIV Diagnosis.

Increasing prevalence of HIV/AIDS across the globe is one of the significant driving factor for the growth of HIV diagnosis market.

High cost of HIV/AIDS diagnosis may hamper the growth of the market over the forecast period.

Increasing usage of home based test kits is expected to offer the future growth opportunity in the market.

Key players are Alere Inc., Abbott Healthcare, Abbvie Inc., Bristol-Myers Squibb, Janssen Therapeutics, Gilead Sciences, Merck & Co. Inc, BD Biosciences, Beckman Coulter, Partec, among others.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Type
          4.3.2. Market Attractiveness Analysis By Technology
          4.3.3. Market Attractiveness Analysis By End Use
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increasing prevalence of HIV/AIDS across the globe
          5.2.2. Rising government initiative to prevent the HIV transmission
    5.3. Restrains
          5.3.1. High cost of nucleic acid test (NAT) HIV diagnosis
    5.4. Opportunities
          5.4.1. Increasing use of home test kits for the HIV diagnosis
    5.5. Challenges
          5.5.1. Lack of testing centers in the underdeveloped countries

6. Global HIV Diagnosis Market Analysis and Forecast, By Product
    6.1. Segment Overview
    6.2. Consumables
    6.3. Instrument
    6.4. Software And Services

7. Global HIV Diagnosis Market Analysis and Forecast, By Technology
    7.1. Segment Overview
    7.2. Antibody Test
    7.3. Viral Load Tests
    7.4. CD4 Tests
    7.5. Tests For Early Infant Diagnosis
    7.6. Tests For Viral Identification

8. Global HIV Diagnosis Market Analysis and Forecast, By End Use
    8.1. Segment Overview
    8.2. Diagnostic Laboratories
    8.3. Hospitals
    8.4. Blood Banks
    8.5. Home Care Settings
    8.6. Others

9. Global HIV Diagnosis Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global HIV Diagnosis Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the HIV Diagnosis Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Abbott Healthcare
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Alere Inc.,
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Abbvie Inc.
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Bristol-Myers Squibb
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Janssen Therapeutics
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Gilead Sciences
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Merck & Co. Inc
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. BD Biosciences
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Beckman Coulter
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Partec
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis

List of Table

1. Global HIV Diagnosis Market, By Product, 2019–2032 (USD Billion)

2. Global Consumables, HIV Diagnosis Market, By Region, 2019–2032 (USD Billion)

3. Global Instruments, HIV Diagnosis Market, By Region, 2019–2032 (USD Billion)

4. Global Software & Services, HIV Diagnosis Market, By Region, 2019–2032 (USD Billion)

5. Global HIV Diagnosis Market, By Technology, 2019–2032 (USD Billion)

6. Global Antibody Test HIV Diagnosis Market, By Region, 2019–2032 (USD Billion)

7. Global Viral Load Test HIV Diagnosis Market, By Region, 2019–2032 (USD Billion)

8. Global CD4 Test HIV Diagnosis Market, By Region, 2019–2032 (USD Billion)

9. Global Test For Early Infant Diagnosis HIV Diagnosis Market, By Region, 2019–2032 (USD Billion)

10. Global Viral Identification HIV Diagnosis Market, By Region, 2019–2032 (USD Billion)

11. Global HIV Diagnosis Market, By End Use, 2019–2032 (USD Billion)

12. Global Hospitals, HIV Diagnosis Market, By Region, 2019–2032 (USD Billion)

13. Global Diagnostics laboratories, HIV Diagnosis Market, By Region, 2019–2032 (USD Billion)

14. Global Blood Bank, HIV Diagnosis Market, By Region, 2019–2032 (USD Billion)

15. Global Home Care Settings HIV Diagnosis Market, By Region, 2019–2032 (USD Billion)

16. Global Others HIV Diagnosis Market, By Region, 2019–2032 (USD Billion)

17. Global HIV Diagnosis Market, By Region, 2019–2032 (USD Billion)

18. North America HIV Diagnosis Market, By Product, 2019–2032 (USD Billion)

19. North America HIV Diagnosis Market, By Technology, 2019–2032 (USD Billion)

20. North America HIV Diagnosis Market, By End Use, 2019–2032 (USD Billion)

21. U.S. HIV Diagnosis Market, By Product, 2019–2032 (USD Billion)

22. U.S. HIV Diagnosis Market, By Technology, 2019–2032 (USD Billion)

23. U.S. HIV Diagnosis Market, By End Use, 2019–2032 (USD Billion)

24. Canada HIV Diagnosis Market, By Product, 2019–2032 (USD Billion)

25. Canada HIV Diagnosis Market, By Technology, 2019–2032 (USD Billion)

26. Canada HIV Diagnosis Market, By End Use, 2019–2032 (USD Billion)

27. Mexico HIV Diagnosis Market, By Product, 2019–2032 (USD Billion)

28. Mexico HIV Diagnosis Market, By Technology, 2019–2032 (USD Billion)

29. Mexico HIV Diagnosis Market, By End Use, 2019–2032 (USD Billion)

30. Europe HIV Diagnosis Market, By Product, 2019–2032 (USD Billion)

31. Europe HIV Diagnosis Market, By Technology, 2019–2032 (USD Billion)

32. Europe HIV Diagnosis Market, By End Use, 2019–2032 (USD Billion)

33. Germany HIV Diagnosis Market, By Product, 2019–2032 (USD Billion)

34. Germany HIV Diagnosis Market, By Technology, 2019–2032 (USD Billion)

35. Germany HIV Diagnosis Market, By End Use, 2019–2032 (USD Billion)

36. France HIV Diagnosis Market, By Product, 2019–2032 (USD Billion)

37. France HIV Diagnosis Market, By Technology, 2019–2032 (USD Billion)

38. France HIV Diagnosis Market, By End Use, 2019–2032 (USD Billion)

39. U.K. HIV Diagnosis Market, By Product, 2019–2032 (USD Billion)

40. U.K. HIV Diagnosis Market, By Technology, 2019–2032 (USD Billion)

41. U.K. HIV Diagnosis Market, By End Use, 2019–2032 (USD Billion)

42. Italy HIV Diagnosis Market, By Product, 2019–2032 (USD Billion)

43. Italy HIV Diagnosis Market, By Technology, 2019–2032 (USD Billion)

44. Italy HIV Diagnosis Market, By End Use, 2019–2032 (USD Billion)

45. Spain HIV Diagnosis Market, By Product, 2019–2032 (USD Billion)

46. Spain HIV Diagnosis Market, By Technology, 2019–2032 (USD Billion)

47. Spain HIV Diagnosis Market, By End Use, 2019–2032 (USD Billion)

48. Asia Pacific HIV Diagnosis Market, By Product, 2019–2032 (USD Billion)

49. Asia Pacific HIV Diagnosis Market, By Technology, 2019–2032 (USD Billion)

50. Asia Pacific HIV Diagnosis Market, By End Use, 2019–2032 (USD Billion)

51. Japan HIV Diagnosis Market, By Product, 2019–2032 (USD Billion)

52. Japan HIV Diagnosis Market, By Technology, 2019–2032 (USD Billion)

53. Japan HIV Diagnosis Market, By End Use, 2019–2032 (USD Billion)

54. China HIV Diagnosis Market, By Product, 2019–2032 (USD Billion)

55. China HIV Diagnosis Market, By Technology, 2019–2032 (USD Billion)

56. China HIV Diagnosis Market, By End Use, 2019–2032 (USD Billion)

57. India HIV Diagnosis Market, By Product, 2019–2032 (USD Billion)

58. India HIV Diagnosis Market, By Technology, 2019–2032 (USD Billion)

59. India HIV Diagnosis Market, By End Use, 2019–2032 (USD Billion)

60. South America HIV Diagnosis Market, By Product, 2019–2032 (USD Billion)

61. South America HIV Diagnosis Market, By Technology, 2019–2032 (USD Billion)

62. South America HIV Diagnosis Market, By End Use, 2019–2032 (USD Billion)

63. Brazil HIV Diagnosis Market, By Product, 2019–2032 (USD Billion)

64. Brazil HIV Diagnosis Market, By Technology, 2019–2032 (USD Billion)

65. Brazil HIV Diagnosis Market, By End Use, 2019–2032 (USD Billion)

66. Middle East and Africa HIV Diagnosis Market, By Product, 2019–2032 (USD Billion)

67. Middle East and Africa HIV Diagnosis Market, By Technology, 2019–2032 (USD Billion)

68. Middle East and Africa HIV Diagnosis Market, By End Use, 2019–2032 (USD Billion)

69. UAE HIV Diagnosis Market, By Product, 2019–2032 (USD Billion)

70. UAE HIV Diagnosis Market, By Technology, 2019–2032 (USD Billion)

71. UAE HIV Diagnosis Market, By End Use, 2019–2032 (USD Billion)

72. South Africa HIV Diagnosis Market, By Product, 2019–2032 (USD Billion)

73. South Africa HIV Diagnosis Market, By Technology, 2019–2032 (USD Billion)

74. South Africa HIV Diagnosis Market, By End Use, 2019–2032 (USD Billion)

List of Figures 

1. Global HIV Diagnosis Market Segmentation

2. HIV Diagnosis Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global HIV Diagnosis Market Attractiveness Analysis By Product 

9. Global HIV Diagnosis Market Attractiveness Analysis By Technology 

10. Global HIV Diagnosis Market Attractiveness Analysis By End Use

11. Global HIV Diagnosis Market Attractiveness Analysis By Region

12. Global HIV Diagnosis Market: Dynamics

13. Global HIV Diagnosis Market Share By Product (2023 & 2032)

14. Global HIV Diagnosis Market Share By Technology (2023 & 2032)

15. Global HIV Diagnosis Market Share By End Use (2023 & 2032)

16. Global HIV Diagnosis Market Share by Regions (2023 & 2032)

17. Global HIV Diagnosis Market Share by Company (2022)

This study forecasts revenue and volume growth at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global HIV diagnosis market on the basis of below mentioned segments:

Global HIV Diagnosis Market by Product:

  • Consumables
  • Instruments
  • Software & Services

Global HIV Diagnosis Market by Technology:

  • Antibody Tests
    • HIV-1 Screening Tests
      • ELISA
      • Rapid Tests
      • Home Access Dried Blood Spot
    • HIV-1 Confirmatory Tests
      • Western Blot Tests
      • Indirect Immune Fluorescent Antibody Assays (IFA)
      • Line Immunoassays (LIA)
      • Radio-Immunoprecipitation Assays (RIPA)
    • HIV-2 & Group O Diagnostic Tests
  • Viral Load Tests
  • CD4 Tests
  • Tests for Early Infant Diagnosis
  • Tests for Viral Identification

Global HIV Diagnosis Market by End Use:

  • Diagnostic laboratories
  • Hospitals
  • Blood Banks
  • Home care settings
  • Others

Global HIV Diagnosis Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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