Rising awareness about hepatitis symptoms and growing need for early diagnosis through public education and increasing occurrence of hepatitis across the globe are fueling global market growth
Market size: USD 5.01Billion in 2020, Market Growth: CAGR of 6.8%, Market Trends: Technological advancements in diagnostic testing
The global hepatitis diagnostic test market size is expected to reach USD 8.4 billion by 2028 and register a CAGR of 6.8% according to the latest report by Reports and Data. Increasing funds by governments and various non-government organizations and rising need for early detection of hepatitis disease types are key factors fueling global market revenue growth.
Hepatitis is an inflammation of liver, commonly caused by a viral infection that can lead to various other complications such as liver cancer, liver cirrhosis, and liver fibrosis. There are five types of viral hepatitis, A, B, C, D, and E that have been affecting millions of people around the globe every year. Types of hepatitis can be diagnosed using various methods such as blood tests, liver biopsy, or imaging tests. Rising prevalence of hepatitis infection and growing need for hepatitis testing for effective treatment is fueling market growth. Increasing cases of hepatitis have also been associated with rising number of blood transfusions and donations. Reports have stated that there is a high risk of acquiring hepatitis B and C through blood transfusions. Moreover, various market players are investing in research and development activities to introduce novel and more effective products to expand their market footprint and product offerings.
Leading companies operating in the market and profiled in the report include: 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.
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The pharma & healthcare sectors has been rapidly growing over the last few decades. Technological advancements in healthcare sector, emergence of various diseases, COVID-19 outbreak are key factors boosting global market revenue growth. The global Hepatitis Diagnostic Test market is expected to reach USD XX Billion in 2028 from USD XX Billion in 2020 at a CAGR of XX%. Growing need to develop new drugs and medical devices to cater to emerging diseases, high investments in research and development activities, and improvements in healthcare infrastructure and facilities is expected to fuel global market growth over the forecast period. In addition, adoption of AI in various healthcare application, funding from various private and public organizations to boost research activities in pharmaceutical and biotechnology sector and vaccine production during the current pandemic situation is also expected to boost market growth.
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Dominant key players in the market are adopting various strategies like mergers and acquisition, partnerships, collaborations, joint ventures and product launches to gain a robust footing in the market. Growing demand for various medical products, increasing adoption of home-care settings, point-of-care diagnosis, high demand for vaccines and medication for controlling COVID-19 is expected to benefit the key companies throughout the forecast period.
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Global Hepatitis Diagnostic Test Market Segmentation:
Diagnostic Tests Outlook (Revenue, USD Billion; 2018 – 2028)
End User Outlook: (Revenue, USD Billion; 2018 – 2028)
The global Hepatitis Diagnostic Test market is broadly divided into 5 major regions, viz. North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
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