Hepatitis Diagnostic Test Market to Reach USD 8.4 Billion in 2028, Noted Reports and Data
Rising prevalence of hepatitis diseases and growing awareness about need for early diagnosis and treatment are furling global market growth
The global hepatitis diagnostic test market size is expected to reach USD 8.4 billion in 2028 and register a CAGR of 6.8% according to the latest report by Reports and Data. Rising prevalence of hepatitis and growing awareness among public about significance of early diagnosis are driving global market revenue growth.
Hepatitis is an inflammation of liver, commonly caused by hepatitis virus. Viral hepatitis is a major health concern that affects millions of people around the world, where large infected population is unaware of this condition. It often leads to liver cancer, liver scarring, or liver cirrhosis. Hepatitis is of 5 types, hepatitis A, B, C, D, and E. Increasing blood transfusion around the world is reported to increase chances of acquiring hepatitis B and C. This can be diagnosed using various technologically advanced diagnostic techniques such as blood tests, liver biopsy, or imaging tests. Rising awareness about commercially accessible enhanced products and steady shift toward modern molecular diagnostic techniques to detect hepatitis virus are fueling market growth. In addition, increasing investments by governments in research and development activities for funding ongoing research on liver cancer and hepatitis is expected to further boost market growth. However, high costs associated with testing, limited access to reliable and inexpensive tests, especially in developing countries, are restraining factors that are expected to hamper global market growth to a significant extent going ahead.
Moreover, lack of mandate for Nucleic Acid Amplification Testing (NAAT) and complicated diagnostic testing process may hamper growth of the hepatitis diagnostic test market in the coming years.
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Some key highlights in the report:
- Among the diagnostic tests segment, the immunoassay test segment is expected to account for rapid revenue growth over the forecast period owing to high accuracy results that are obtained by immunoassays as compared to traditional testing methods.
- Among end user segments, the research institutes segment is expected to account for rapid revenue growth during the forecast period. Increasing investments for research and development activities, ongoing projects on hepatitis types, and growing demand for developing new products for detecting and treating increasing hepatitis diseases are key factors fueling segment growth.
- North America is expected to dominate other regional markets in the global hepatitis diagnostic test market during the forecast period. Factors, such as rising prevalence of hepatitis, access to latest technology and diagnostic tools, well-developed healthcare centers and facilities, and presence of key players in the region are boosting revenue growth in North America.
- Asia Pacific is expected to register fastest CAGR between 2021 and 2028 due to rising prevalence of hepatitis genotypes, increasing investments by government and non-government organizations, and growing commercial availability of enhanced products.
- Siemens Healthineers, Roche, F. Hoffmann La-Roche, Abbott Laboratories, DiaSorin S.p.A, bioMeriuex, MedMira. Inc., Hologic, Inc., Danaher Corporation, Bio-Rad Laboratories, Qiagen, and Grifols, S.A. are some leading players operating in the global hepatitis diagnostic test market.
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For this study, Reports and Data has segmented the hepatitis diagnostic tests market based on Diagnostic Test Type, End User, and Region:
Diagnostic Tests Outlook (Revenue, USD Billion; 2018 - 2028)
- Blood tests
- Liver Function Tests
- Nucleic Acid Tests
- Imaging Tests
- Liver Biopsy
End User Outlook: (Revenue, USD Billion; 2018 - 2028)
- Research Institutes
- Blood Banks
- Diagnostics laboratories
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Regional Outlook (Revenue, USD Billion, 2018 - 2028)
- North America
- Rest Of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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