PUBLISHER: The Business Research Company | PRODUCT CODE: 1426354
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426354
Hepatitis diagnostic tests are medical procedures and laboratory analyses designed to identify and diagnose infections caused by hepatitis viruses, including hepatitis A, B, C, D, and E. These tests are essential for detecting the presence of hepatitis viruses or specific antibodies in a patient's blood or other bodily fluids. The primary goal is to confirm the infection, determine its type, assess severity, and monitor its progression.
The main categories of hepatitis diagnostic tests include blood tests, imaging tests, and liver biopsy. Blood tests involve examining blood samples to assess various constituents such as blood cells, proteins, enzymes, hormones, antibodies, and other chemicals. Various technologies are utilized in these tests, including enzyme-linked immunosorbent assay (ELISA), rapid diagnostic tests, polymerase chain reaction (PCR), isothermal nucleic acid amplification tests, and others. These diagnostic tools find applications in diverse healthcare settings such as hospitals, diagnostic laboratories, blood banks, and other medical facilities.
The hepatitis diagnostic tests market research report is one of a series of new reports from The Business Research Company that provides hepatitis diagnostic tests market statistics, including hepatitis diagnostic tests industry global market size, regional shares, competitors with a hepatitis diagnostic tests market share, detailed hepatitis diagnostic tests market segments, market trends, and opportunities, and any further data you may need to thrive in the hepatitis diagnostic test industry. This hepatitis diagnostic tests market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The hepatitis diagnostic tests market size has grown strongly in recent years. It will grow from $4.35 billion in 2023 to $4.64 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth observed during the historic period in the field of hepatitis diagnostic tests can be attributed to several key factors. These include the globalization of healthcare, government initiatives aimed at improving diagnostic capabilities, the high disease burden associated with hepatitis infections, heightened measures for blood safety, and public health campaigns focused on raising awareness and encouraging testing. These factors collectively contributed to the expansion and adoption of hepatitis diagnostic tests during the historical period.
The hepatitis diagnostic tests market size is expected to see strong growth in the next few years. It will grow to $5.85 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The anticipated growth in the forecast period for hepatitis diagnostic tests can be attributed to several key drivers. These include heightened concerns about global health security, population growth and urbanization trends, the implementation of tailored testing strategies, a strong emphasis on elimination programs for hepatitis, and the overall increase in healthcare spending worldwide. Major trends expected in the forecast period include advancements in testing technologies, particularly in the field of molecular diagnostics, the development of multiplex testing for different hepatitis viruses, integration of digital health solutions for improved diagnostics and monitoring, and an increase in strategic collaborations and partnerships within the healthcare sector. These trends collectively contribute to the projected growth and evolution of hepatitis diagnostic testing in the coming period.
The rising number of blood transfusions and blood donations plays a crucial role in driving the growth of the hepatitis diagnostic test market. Blood transfusions and donations are intertwined processes where individuals willingly contribute blood that undergoes collection, rigorous testing, and subsequent administration to patients who require additional blood components due to various medical conditions, surgeries, accidents, or illnesses. To ensure the safety of recipients, hepatitis diagnostic tests are utilized to thoroughly screen donated blood, thereby reducing the risk of transmitting hepatitis through transfusions. For example, data from NHS Blood and Transplant (NHSBT) in December 2021 indicated an increase in whole blood donations in the UK to 1,719,630 by 963,145 donors in 2021, compared to 1,649,057 by 933,705 donors in 2020. This rise in blood donations signifies an increased need for hepatitis diagnostic tests to maintain the safety and quality of donated blood, subsequently driving the hepatitis diagnostic test market.
The surge in hepatitis cases globally is another key factor propelling the growth of the hepatitis diagnostic tests market. Hepatitis, characterized by liver inflammation, poses significant health risks and can lead to various symptoms and complications. Accurate diagnostic tests for hepatitis are crucial in identifying and confirming the presence of hepatitis infections, enabling timely interventions and effective disease management. For instance, according to the Hepatitis B Foundation in 2023, an estimated 1.5 million people contract hepatitis infections annually, highlighting the persistent challenge posed by these diseases. The growing incidence of hepatitis underlines the critical importance of reliable diagnostic tests in early detection and management, thereby fueling the demand for hepatitis diagnostic tests in the market.
The projected impediment to the growth of the hepatitis diagnostic test market stems from the high cost associated with these tests. The considerable expenses related to hepatitis diagnostic procedures are a significant concern for both individuals and healthcare systems. This financial burden could lead to delayed diagnoses, insufficient monitoring, and escalated healthcare expenditures over time. As indicated by a report in April 2023 from the Lancet, the costs attributed to Hepatitis Diagnostic tests range from $890 to $1406, marking an increase of up to 35% compared to standard care treatments. Consequently, the exorbitant cost of these diagnostic tests stands as a hindrance to the market's expansion.
Dominant players in the hepatitis diagnostic test market are concentrating on innovating automated immunoassays, exemplified by the Elecsys HCV Duo, to enhance customer service reliability. Automated immunoassays represent laboratory techniques utilizing automated systems and specialized instruments to conduct various phases of the immunoassay process, encompassing sample handling, reagent mixing, incubation, detection, and result calculation. For instance, in July 2023, Roche Diagnostics India, a biotechnology research company based in India, introduced Elecsys HCV Duo. This advanced solution represents India's maiden fully automated immunoassay available commercially, facilitating the simultaneous and independent evaluation of hepatitis C virus (HCV) antigen and antibody levels from a single human plasma or serum sample. Moreover, this approach streamlines the diagnostic procedure, enabling single-specimen testing and potentially reducing the number of necessary follow-up visits, consequently alleviating the burden on healthcare systems.
In August 2021, BioCheck Inc., a US-based company specializing in diagnostic products, completed the acquisition of DRG International Inc. The exact amount of the acquisition remains undisclosed. This strategic move by BioCheck aims to expedite the accessibility of enhanced and dependable advanced clinical and research diagnostic tests designed for various diseases. DRG International Inc., another US-based entity acquired by BioCheck, is recognized for its repertoire of diagnostic tests, notably including those for hepatitis diagnostics.
Major companies operating in the hepatitis diagnostic tests market report are Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers AG, Roche Diagnostics, Quest Diagnostics Incorporated, Grifols S.A, Hologic Inc., BioMerieux SA, Beckman Coulter Inc., Bio-Rad Laboratories Inc., SD Biosensor Co. Ltd., QIAGEN N.V., DiaSorin S.p.A., Randox Laboratories Ltd., Luminex Corporation, Fujirebio Diagnostics Inc., Trivitron Healthcare Private Limited, Trinity Biotech plc, MP Biomedicals LLC, R-Biopharm AG, Creative Diagnostics, InBios International Inc., Dia.Pro Diagnostic Bioprobes srl, DIALAB GmbH
North America was the largest region in the hepatitis diagnostic tests market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hepatitis diagnostic tests market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the hepatitis diagnostic tests market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The hepatitis diagnostic test market consists of revenues earned by entities by providing diagnostic services such as liver ultrasound, computerized tomography (CT) scans, and antibody tests. The market value includes the value of related goods sold by the service provider or included within the service offering. The hepatitis diagnostic test market also includes sales of laboratory equipment, reagents, and assay components that are used in providing hepatitis diagnostic test services. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Hepatitis Diagnostic Tests Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on hepatitis diagnostic tests market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for hepatitis diagnostic tests? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hepatitis diagnostic tests market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.