Major Targeted Audience for This Study:
# Blood banks
# Pathologists and pathology laboratories
# Distributors of IVD products
# Research institutes
# Hospitals and clinics
# Healthcare institutions
# Group purchasing organizations (GPOs)
# Market research and consulting firms
Hepatitis testing refers to the diagnostic procedures performed to determine what genotype of hepatitis is causing the disease and what treatment is best suited. As different hepatitis viruses cause similar symptoms, it is important to run a series of diagnostic tests to identify the virus.
The base year considered for the study is 2017, and the forecast for the market size is provided for the period between 2018 and 2023.
The global Hepatitis Test Diagnosis Market is valued at 2.54 billion in 2017 and expected to grow at CAGR of 4.9% to USD 3.37 billion by 2023 during the forecast period.
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The ELISA segment is expected to hold the largest market share during the forecast period
On the basis of technology, the hepatitis test solution market is segmented into ELISA, rapid diagnostics test, PCR, INAAT, and other technologies. In 2018, the ELISA is expected to account for the largest market share, by technology. The wide acceptance of this test in clinical practices to diagnose hepatitis is the main factor driving this market.
Major Growth Drivers:
# High burden of hepatitis
# Increasing blood transfusion and donations
# Benefits of PoC instruments & kits
# Awareness initiatives
Industry Growth Restraints:
# High Cost of NAT
# Lack of mandate for NAT in developing countries
# Emerging markets
North America is expected to dominate the hepatitis test solution/diagnosis market in 2018
North America is expected to account for the largest share of the global Hepatitis Test Diagnosis Market in 2018. The large share of the North America region is primarily attributed to factors such as the rising adoption of advanced technologies, developed healthcare systems in the US and Canada, and the presence of a large number of leading national clinical laboratories.
The APAC region is expected to grow at the highest CAGR over the next five years. The growth of the hepatitis test solution market in this region is driven by the modernization of healthcare infrastructure, high burden of hepatitis infections, increased healthcare spending by a larger population base, and the rising penetration of cutting-edge clinical laboratory technologies.
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Global Leaders in the Industry:
The key players operating in this market include Abbott Laboratories (US), Roche (Switzerland), Bio-Rad (US), Siemens (Germany), DiaSorin (Italy), QIAGEN (Netherlands), bioMérieux (France), Danaher (US), and Grifols (Spain).
Collaborations, agreements, and partnerships remain at the center of the strategic growth initiatives adopted by most of the key players in the global Hepatitis Test Diagnosis Market.
Companies such as Abbott Laboratories, Roche Diagnostics, Bio-Rad, DiaSorin, Danaher, and Grifols have been focusing on this inorganic strategy to enhance their market presence. Players also adopted product launches, product approval, and acquisition as growth strategies.