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(Medical-NewsWire.com, December 17, 2019 ) Market Overview
The global hepatitis diagnostic testing market size was valued at USD 3.8 billion in 2017 and is estimated to grow at a CAGR of 6.45% in the forecasted period 2019-2026.
Rising prevalence of hepatitis diagnostics is primarily driving the growth of the global market.
Hepatitis A, B & C are prominent as compared to D & E. Hepatitis B & C are significant challenges, affecting 325 million people around the globe.
They are primary causes of cancer, leading to 1.34 million deaths every year. The advent of immunosensors for the diagnostics of high hepatitis demand for the biomarker-based tests are some of the key trends in the hepatitis diagnostic testing market
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Market Drivers
New initiatives taken up by different organizations are expected to be the essential driver to improve the hepatitis viruses market. Promotion of government and non-government organizations in increasing awareness, growing demand for POC diagnostics, and increasing demand for automation and system integration are some of the primary drivers for the growth of the market. Low coverage of testing and treatment facilities in the emerging nations, regulatory and reimbursement difficulties, and limitation of closed systems are some of the critical challenges for the growth of the market.
Market Segmentation
The dominance of the blood tests segment is attributed to the extensive test volume as they are the 1st line detection tests for hepatitis diagnostics.
However, imaging tests are performed as a supportive detection test for the confirmation of liver inflammation. Immunodiagnostics and Nucleic Acid Test account for the largest market share in 2017. Around half of the diagnostics for the hepatitis is dominated by the immunoassays, which are majorly used to detect the anti-hepatitis virus, viral core antigens.
There is an increased need for quantification of diagnostic tests owing to its ability to determine the stage of infection
Geographical Analysis
North America dominated the market with the most significant revenue share in 2017 and will continue dominating the market at a rate of XX% over a forecast period.
Also, the availability of advanced diagnostic tools and high awareness regarding these products in the North American region are the key factors driving the growth of the market in North America. Increase in the Canadian demand can be attributed to the initiatives of the government and non-government organizations. For instance, WHO, and Public Health Agency of Canada organized the World Hepatitis Day to increase the awareness regarding hepatitis detection.
The Asia-pacific market is growing at a faster rate supported by China, Japan, and India. Improving healthcare infrastructure and the establishment of R&D facilities of major pharmaceutical companies in the region are some of the significant factors for the high growth rate of the market in the forecasted period.
The scope of the Report
Segmentation by Type of Test
Imaging Tests
Blood Tests
Liver Function Tests
Immunoassays
Nucleic Acid Tests
Liver Biopsy
Others
Segmentation by Diagnostic Tool
Paracentesis
Elastography
Surrogate markers
Others
The report also covers the key factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
Why Purchase the Report?
Visualize the composition of the global hepatitis diagnostics testing market with a clear distinction between each design type and usage type.
• Identify commercial opportunities in the worldwide hepatitis diagnostics testing market analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of the global hepatitis diagnostics testing market
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the principal products of all major market players
Target Audience
• Equipment Suppliers/ Buyers
• Service Providers/ Buyers
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professionals
• Emerging Companies
• Manufacturers
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