Global hepatitis virus testing market was valued at US $ XX Mn and expected to grow at XX% Compound Annual Growth Rate (CAGR) over 2018 to 2024.
Market Outline: Hepatitis Virus Testing Market
Liver is an essential organ of the body in which performs critical functions that affect the metabolism in the body. Hepatitis refers to the inflammatory condition of the liver and caused by the viral infection or medications. Hepatitis is considered as the sexually transmitted disease. Hepatitis can be classified into hepatitis A, hepatitis, B, hepatitis C, based on the virus. These are confirmed through the laboratory tastings. Various tests are available in the market based on the type of hepatitis.
Market Dynamics: Hepatitis Virus Testing Market
Global hepatitis testing market primarily driven by increase in prevalence viral hepatitis globally. According to World Health Organization, 130 – 150 million people are suffering with th chronic hepatitis c globally and there were many undiagnosed. In addition, increase in healthcare expenditure, lifestyle changes and various initiatives by organizations such as World Health Organization in creating awareness of disease among population projected to boost the market growth. Furthermore, advancements in the diagnostics which quickly produce the test results coupled with increase in investments expected to bolster the market growth over the forecast period. However, lack of awareness among the people in under developing countries and high cost for developing techniques may hamper the market growth over the forecast period.
Market Scope: Hepatitis Virus Testing Market
Hepatitis virus market is segmented based on the technique, application and end user
Based on virus, the market is segmented into the following:
- Hepatitis A Virus
- Hepatitis B Virus
- Hepatitis C Virus
Based on techniques, the market is segmented into the following:
- Polymeric Chain Reaction Tests
Based on end user, the market is segmented into the following:
- Diagnostic Centers
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Regional Analysis: Hepatitis Virus Testing Market
Geographically, global hepatitis virus testing market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Due to availability of advanced diagnostic infrastructure and awareness on hepatitis disease among the U.S. population North America Projected to grow at significant growth rates in coming years. Furthermore, government initiatives, favorable reimbursement policies expected to boost the regional market. For instance, Public Health Agency of Canada organized the world hepatitis day to increase the awareness among the populace. Asia Pacific hepatitis virus testing market proejected to grow at notable rates owing to the significant increase in healthcare infrastructure and raise in awareness coupled with government support.
Competition Assessment: Hepatitis Virus Testing Market
Some of the players in the global hepatitis virus testing market include:
- Hoffmann-La Roche AG (Switzerland)
- Beckman Coulter, Inc. (U.S.)
- Becton, Dickinson and Company (U.S.)
- Abbott Laboratories, Inc. (U.S.)
- bioMérieux (France)
- Siemens Healthineers (Germany)
- Novartis AG (Switzerland)
- MedMira, Inc.
Notable Market Developments: Hepatitis Virus Testing Market
- In March 2017, U.S. Food and Drug Administration has approved Siemens Healthineer’s Versant HCV Genotype 2.0 line probe (LiPA) for HCV testing