(MENAFN- GlobeNewsWire - Nasdaq) Chicago, March 17, 2023 (GLOBE NEWSWIRE) -- The hepatitis testing and diagnosis industry is expected to grow in the near future due to the increasing prevalence of hepatitis infections, the increasing awareness of hepatitis testing, the development of new and improved diagnostic tests, and the rising demand for early diagnosis of the disease. The introduction of new tests, such as the hepatitis C virus (HCV) RNA testing, is expected to drive the growth of the hepatitis testing and diagnosis industry. The HCV RNA test detects the presence of viral RNA in the blood, and it is used to diagnose active hepatitis C infections.
hepatitis testing/diagnosis market in terms of revenue was estimated to be worth $2.8 billion in 2021 and is poised to reach $3.6 billion by 2026, growing at a CAGR of 4.7% from 2021 to 2026 according to a latest report published by MarketsandMarketsTM. The growth of the global hepatitis testing market is being driven by factors such as the high burden of hepatitis, increasing blood transfusion and donations, benefits of POC instruments and kits, and awareness initiatives on hepatitis. High cost of nucleic acid tests, lack of mandates for nucleic acid tests in developing countries and unfavorable reimbursement scenarios are expected to restrain hepatitis market growth. Emerging markets, rising technological advancements in molecular diagnostics, and growth in the biotechnology and biopharmaceutical industries are expected to offer strong growth opportunities for players in the market. In contrast, changing regulatory landscape, opertationsla barriers and shortage of skilled professionals may challenge market growth to a certain extent.
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Hepatitis Testing/Diagnosis Market Scope:
| Report Coverage | Details |
| Market Revenue in 2021 | $2.8 billion |
| Estimated Value by 2026 | $3.6 billion |
| Growth Rate | Poised to grow at a CAGR of 4.7% |
| Market Size Available for | 2019–2026 |
| Forecast Period | 2021–2026 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Disease Type, Technology, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | Growth in biotechnology and biopharmaceutical industries |
| Key Market Drivers | High burden of hepatitis |
Based on disease type, the hepatitis testing market is segmented into hepatitis B, hepatitis C, and other hepatitis diseases (hepatitis A, D, and E). The hepatitis B segment accounted for the largest share of the hepatitis testing market in 2020. Factors such as the rising prevalence of hepatitis B, availability of a large number of hepatitis B diagnostic tests, and the increasing adoption of nucleic acid tests for HBV diagnosis are driving the growth of this market segment.
Based on technology, the hepatitis testing market is segmented into enzyme-linked immunosorbent assay (ELISA), rapid diagnostic tests, polymerase chain reaction (PCR), isothermal nucleic acid amplification technology (INAAT), and other technologies (such as sequencing, mass spectrometry, and western blotting). The ELISA segment accounted for the largest share of the hepatitis testing market in 2020. The large share of this segment can primarily be attributed to the wide acceptance of this test in clinical practices to diagnose hepatitis.
Based on end user, the hepatitis testing market is segmented into hospital & diagnostic laboratories, blood banks, and other end users (academic & government research institutes, nursing homes, and home care settings). In 2020, the hospital & diagnostic laboratories segment accounted for the largest share of the hepatitis testing market. The large share of this segment can be attributed to the large number of hepatitis diagnostic tests carried out in hospitals.
The global hepatitis testing market is segmented into North America (the US and Canada), Europe (Germany, the UK, and the Rest of Europe), Asia Pacific, and Rest of the World. In 2020, North America dominates the global market, and this trend is expected to continue during the forecast period. The large share and high growth of this region can be attributed to the rising prevalence of hepatitis and increased research and clinical trials for hepatitis testing in the US.
However, the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period. High burden of hepatitis infections, rising disposable income levels, improving healthcare infrastructure and increasing awareness of hepatitis testing are the major factors driving the growth of the hepatitis testing market in the Asia Pacific.
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Hypothetic Challenges of Hepatitis Testing/Diagnosis Market in Near Future:
Rising demand for hepatitis tests: The demand for hepatitis tests is growing rapidly due to the increasing prevalence of the virus. More people are becoming aware of the virus and seeking testing and diagnosis. This has created a challenge for healthcare providers to ensure they can meet the increased demand. Lack of access to affordable hepatitis testing: Many people are unable to access affordable hepatitis testing due to the high cost of tests and treatments. This can lead to delayed diagnosis and treatment, which can have serious consequences for patients. Limited access to new diagnostic technologies: New diagnostic technologies such as genotyping and serotyping are becoming available that can help to provide more accurate diagnoses. However, these technologies are expensive and not widely available. Difficulty in identifying high-risk populations: Many people who are at risk of hepatitis infections are not aware of the risk factors or how to access testing. This can make it difficult to identify those who need testing and diagnosis. Low uptake of preventive measures: Despite the availability of preventive measures such as vaccines and other treatments, many people are not taking advantage of these measures. This can lead to an increased risk of infection and transmission of the virus.
Top 3 Use Cases of Hepatitis Testing/Diagnosis Market:
Screening: Screening tests are used to detect the presence of hepatitis viruses in individuals who have no symptoms or signs of the disease. This is typically done on a large scale to identify those with the infection and prevent the spread of the virus. Diagnosis: Diagnostic tests are used to confirm the presence of the virus in individuals with signs and symptoms of hepatitis. These tests are used to identify the type of virus, the severity of the infection, and to help guide treatment decisions. Monitoring: Monitoring tests are used to track the progress of the virus in individuals who have been diagnosed with hepatitis. These tests can be used to track the effectiveness of treatments, as well as to detect any new or recurrent infections.
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Recent Developments:
In 2021, Abbott received FDA Emergency Use Authorization (EUA) for the Alinity m Resp-4-Plex assay. In 2021, F.Hoffmann-La Roche Ltd. acquired GenMark Diagnostics (US) which aimed at adding more products to Roche's molecular diagnostics portfolio and the global distribution of products offered by GenMark Diagnostics. In 2021, Bio-Rad Laboratories, Inc. partnered with Seegene, Inc. (South Korea). The partnership aims at collaborative development and the commercialization of infectious disease diagnostic products.
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