*As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Hepatitis Diagnostic Tests Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
The global hepatitis diagnostic tests market was worth US$ 3.8 Billion in 2018. Hepatitis represents a major global health threat that requires an urgent response. According to estimates, hepatitis causes 1.3 Million-1.5 Million deaths each year, a figure that is comparable to the deaths caused by tuberculosis and even higher than those caused by HIV. Moreover, while mortality from diseases such as HIV, tuberculosis, and malaria are now declining, mortality from hepatitis has been rising. According to estimates around 325-350 Million people across the globe are carriers of hepatitis B or C virus infections, which may remain asymptomatic for decades. Moreover, every year, around 1.75 Million people get infected by the hepatitis C virus infection. Unless these people receive timely testing and treatment, they are at risk of severe liver disease and even death. Diagnostic tests help in the early detection of hepatitis infections and increase the chances of survival of the patient by correct medication and treatment.
The global demand of hepatitis diagnostic tests is currently exhibiting strong growth. This market is currently being catalyzed by a number of factors such as the increasing burden of hepatitis across the globe, rising number of blood transfusions and donations, technological advancements and the advantages offered by PoC (Point of Care) test, and rising awareness levels. A major trend being witnessed in this market has been a shift from conventional testing methods to molecular diagnostics. This has resulted in an increased accuracy and reduced the total time required to get the results. Looking forward, the market value is projected to reach US$ 5.4 Billion by 2024, exhibiting a CAGR of 6% during 2019-2024.
Market Summary:
- Based on the test type, the market has been segmented into blood tests, imaging test and liver biopsy. Blood tests currently represent the biggest application. Blood tests are further segmented into liver function test, immunoassays, and nucleic acid tests. Liver function tests currently represent the biggest segment.
- Region-wise, the market has been segmented into North America, Asia Pacific, Europe, Middle East and Africa and Latin America. Amongst these, North America is the biggest market, accounting for the majority of the global market.
- The competitive landscape of the market has also been examined with some of the key players being Siemens AG, Abbott Laboratories, MedMira Inc, Qaigen Inc, Beckman Coulter Inc (Danaher Corporation), F. Hoffmann Roche, Diasorin S.p.A, bioMeriuex, Hologic Inc and Bio-Rad Laboratories Inc.
Key Questions Answered in This Report:
- How has the global hepatitis diagnostic tests market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global hepatitis diagnostic tests industry?
- What is the breakup of the global hepatitis diagnostic tests market on the basis of test type?
- What are the various stages in the value chain of the global hepatitis diagnostic tests market?
- What are the key driving factors and challenges in the global hepatitis diagnostic tests market?
- What is the structure of the global hepatitis diagnostic tests market and who are the key players?
- What is the degree of competition in the global hepatitis diagnostic tests market?
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