Hepatitis Test Solution Diagnosis Market Global Competition, Size, Business Outlook, Dynamics and Forecast
The global market for hepatitis test solution/diagnosis can expect to attain a CAGR of 4.9% during the forecast period (2018-2023), Market Research Future (MRFR) reveals.
Market Drivers and Main Barriers
Hepatitis testing helps in determining the genotype of hepatitis that triggers the ailment. The test also helps understand the method of treatment ideal for the patient. As different hepatitis viruses cause almost similar symptoms, a series of diagnostic test is required for identifying the virus, which is the real cause of the disease. These factors accelerate product demand in the market to a great extent.
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The global market for hepatitis test solution and diagnosis could expect strong growth in the subsequent years as a result of the surge in cases of viral hepatitis as well as autoimmune diseases Increasing healthcare spending is another critical factor that could work in favor of the market in the near future.
Throughout the assessment period, demand from China, South Korea, Turkey, India, Brazil, and South Africa is most likely to accelerate. As a result, the growing prospects across developing economies are presumed to support market growth. The major traction of the market in the future could be in response to the rising healthcare expenditure and investment, combined with the increasing disposable income of consumers. Additional factors promoting market growth include surging medical tourism, coupled with the presence of a huge number of undiagnosed cases.
The worldwide hepatitis test solution/diagnosis market has been segmented on the basis of disease type, technology, end-user, and region.
Depending on the disease type, the market is segmented into Hepatitis A, Hepatitis B, Hepatitis C, and others.
The global hepatitis test solution/diagnosis market, with respect to the technology, is considered for enzyme-linked immunosorbent assay (ELISA), rapid diagnostic tests (RDT), polymerase chain reaction (PCR), isothermal nucleic acid amplification technology (INAAT) and others.
The various end-users in the market are hospital & diagnostic laboratories, blood banks, and others.
Europe, Middle East & Africa, Asia Pacific, and the Americas are the primary markets for hepatitis test solution/diagnosis.
The Americas is touted to be the leading hepatitis test solution/diagnosis market in the coming years. The rise in bacterial infection and adoption of clinical practices for a variety of disease treatment result in the superlative growth of the regional market. The Centers for Disease Control and Prevention (CDC) reveals that in 2016, almost 2,967 cases of acute hepatitis C infection were estimated in the United States (US).
In 2017, Europe covered the second largest share in the global hepatitis test solution/diagnosis market. Rising HIV cases, increasing kidney problems, and other infectious diseases lead to hepatitis infection, which accelerates the product demand in the region. The World Health Organization states that in 2018, close to 14 million people in Europe suffered from Hepatitis C, accounting for 20% of the worldwide cases of hepatitis. The massive pool of hepatitis afflicted patients in the region is slated to favor market growth.
Asia Pacific was identified as the fastest expanding market for hepatitis test solution/diagnosis in 2017. The regional market benefits from advanced healthcare infrastructure as well as rising burden of hepatitis infections. The surge in healthcare spending and increasing penetration of sophisticated clinical laboratory technologies could also fortify market growth in the ensuing years.
Lastly, Middle East and Africa was the smallest market for hepatitis test solution/diagnosis. The region comprises countries with weak economy and poor healthcare infrastructure along with low per capita income. These factors stunt the growth of the regional market.
Some of the most esteemed vendors operating in the worldwide hepatitis test solution/diagnosis market are Siemens Healthineers (UK), Bio-Rad Laboratories (US), Diasorin (Italy), Fujirebio, Inc. (Japan), Grifols (USA), Abbott Laboratories Inc. (US), MedMira, Inc. (US), Biomérieux Sa (France), Roche Diagnostics (UK), Qiagen (UK), Danaher Corporation (US), among others.
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