(MENAFN- America News Hour) Global Hepatitis C Virus (HCV) testing Market Overview
Hepatitis C is a liver disease that is transmitted from the blood of an infected person by direct contact. Hepatitis C shows significant genetic variation due to the high rate of viral RNA mutations in the worldwide population. HCV vary in the rate of prevalence around the globe due to six variants (HCV genotypes 1, 2, 3, 4, 5, and 6), and 15 recorded subtypes. Different types of devices are used for the diagnosis of hepatitis C, including HCV antibody test, HCV viral load test, HCV genotype test, and liver biopsy. Inexpensive, robust, rapid, and sensitive analytical devices are vital for accurate, effective diagnosis and monitoring of disease treatment.
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A main concern across the globe and especially in the developing countries is the increasing burden of infectious diseases on the healthcare system. The burden of hepatitis C virus infection is growing over the years. Approximately 3% of the global population is infected with hepatitis C virus infection, according to the Institute of Liver and Biliary Sciences, India. HCV leads to chronic infection in 80% of infected patients. Initial testing for the hepatitis C virus uses serological assays to detect antibodies against HCV in blood samples.
Market Size & Forecast
Hepatitis C Virus (HCV) testing Market is anticipated to record a significant CAGR over the forecast period. An increase in the hepatitis C virus testing market is majorly credited to the high incidence of chronic infection with the hepatitis C virus. Furthermore, the considerable cause of the spread of the hepatitis C virus is unhygienic blood donation practices. Among all types of tests, HCV antibody testing is expected to occupy more shares because antibody testing is the primarily used test for HCV testing. Long term use of non-sterile needles for tattooing and body piercing, use of injection drugs and various other practices are common causes for the spread of hepatitis C virus infection which are anticipated to propel the market globally. On the basis of regional platform, the global hepatitis C virus (HCV) testing market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
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Hepatitis C Virus (HCV) Testing Market size
Europe is expected to dominate the hepatitis C virus testing market significantly due to the increasing prevalence of hepatitis C virus diseases. According to WHO, Europe has a 1.5% prevalence of HCV diseases due to high rates of mutation of viral RNA that shows significant variations in genes in population globally. The North-American region is expected to follow in the footsteps of Europe. The Asia Pacific is expected to be having lucrative market growth over the forecast period owing to disease prevalence rates in the developing and underdeveloped countries. While the Middle East and Africa have a hepatitis C disease prevalence rate of 4.6% and 5.3% respectively, these regions due to lack of proper healthcare infrastructure are not able to access the diagnostic and treatment shares.
Leading Companies
Roche Diagnostics, Abbott, Siemens Healthcare GmbH, Abbott Laboratories Inc., BioGenex, Bio-Rad Laboratories, Meridian Bioscience, Standard Diagnostics, Inc., Bayer AG, Thermo Fisher Scientific Inc., And Other Notable Key Players.
Market Segmentation
Our-in depth analysis of the global hepatitis C virus (HCV) testing market includes the following segments:
By Test Kits
Hepatitis C Antibody Test
Hepatitis C RNA Quantitative Test
Hepatitis C RNA Qualitative Test
Hepatitis C RIBA
Hepatitis C Genotype
Viral Load
By End-User
Diagnostic Centers
Hospitals
Blood donation centers
By Region
Global Hepatitis C Virus (HCV) testing Market is further classified on the basis of region as follows:
North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
The Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
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Growth Drivers & Challenges
An increase in organ donation globally is expected to boost the hepatitis C testing market as a Hepatitis C screening test is compulsory before organ donation. The ascent in changing lifestyle increased healthcare expenditure and an upsurge in government initiatives are some of the key aspects driving the market of hepatitis C virus antiviral testing globally. In addition, growing healthcare awareness in the population about the hepatitis C virus is also fueling the growth of the global hepatitis C virus testing market. A high incidence of chronic infection with the hepatitis C virus has additionally attributed to the testing market.
Moreover, unhygienic blood donation practices are a significant cause of the spread of the hepatitis C virus which is expected to push the market further. The surfacing of DAAs (Direct Acting Antivirals) has aroused renewed interest in the establishment and expansion of testing services for HCV after a long period of stagnation which will propel the market more speedily over the forecast period. However, stringent regulation for approval of hepatitis C testing, inadequate insurance coverage and limited access to regular health care is the major factor expected to hamper the hepatitis C virus testing market.
Key Answers Captured in Report?
- Which geography would have better demand for
products/services?
- What are the strategies adopted by big players
in the regional market?
- Which country would see the steep rise in CAGR
& year-on-year (Y-O-Y) growth?
- What is the current & expected market size
in the next five years?
- What is the market feasibility for long term
investment?
- What opportunity the country would offer for existing
and new players in the market?
- What is the risk involved for suppliers in the
geography?
- What factors would drive the demand for the
product/service in the near future?
- What is the impact analysis of various factors
in market growth?
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