The global hepatitis test solution/diagnosis market is projected to reach USD 3.37 billion by 2023 from USD 2.66 billion in 2018, at a CAGR of 4.9% during the forecast period. This market is primarily driven by factors such as the high burden of hepatitis worldwide, increasing number of blood transfusions and donations, benefits offered by PoC instruments & kits, and awareness initiatives.
Emerging markets such as China, India, Brazil, and Africa are expected to offer lucrative growth opportunities for the players in this market. However, the high cost of NAT tests and a lack of mandate for NAT in developing countries are expected to restrain the growth of this market during the forecast period.
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Research Methodology Used for the Estimation:
Top-down and bottom-up approaches were used to validate the size of the global hepatitis test solution/diagnosis market and estimate the size of various other dependent submarkets. Major players in the market were identified through secondary research, and their market revenues were determined through primary and secondary research. Secondary sources include annual reports, press releases, and investor presentations of companies; white papers; medical journals; certified publications; articles from recognized authors; gold standard and silver standard websites; directories; and databases.
In-depth interviews were conducted with various primary respondents, such as key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information as well as to assess future prospects.
This data is consolidated and added to detailed inputs and analysis from MarketsandMarkets and presented in this report. Some of the secondary resources referred to are World Health Organization (WHO), National Institutes of Health (NIH), National Center for Biotechnology Information (NCBI), US FDA, Parenteral Drug Association (PDA), International Society for Pharmaceutical Engineering (ISPE), and Washington Biotechnology & Biomedical Association (WBBA).
Global Industry Leaders:
The key players operating in this market include Abbott Laboratories (US), Roche (Switzerland), Bio-Rad (US), Siemens (Germany), DiaSorin (Italy), QIAGEN (Netherlands), bioMérieux (France), Danaher (US), and Grifols (Spain).
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Geographical Lookout:
North America is expected to dominate the hepatitis test solution/diagnosis market in 2018
North America is expected to account for the largest share of the global hepatitis test solution/diagnosis market in 2018. The large share of the North America region is primarily attributed to factors such as the rising adoption of advanced technologies, developed healthcare systems in the US and Canada, and the presence of a large number of leading national clinical laboratories.
The APAC region is expected to grow at the highest CAGR over the next five years. The growth of the hepatitis test solution/diagnosis market in this region is driven by the modernization of healthcare infrastructure, high burden of hepatitis infections, increased healthcare spending by a larger population base, and the rising penetration of cutting-edge clinical laboratory technologies.
