Hepatitis B and C diagnostics market size to increase by USD 2.05 billion, Technavio

NEW YORK, March 27, 2024 /PRNewswire/ -- The

Hepatitis B and C Diagnostics Market by Type, Disease Type, and Geography - Forecast and Analysis 2023-2027 report has been published by Technavio. The market is set for substantial growth between 2023 and 2027, with an estimated increase of USD 2,055.79 million, driven by a remarkable compound annual growth rate (CAGR) of 6.12%. This surge is attributed to several factors, including heightened demand for molecular diagnostics, streamlined diagnostic processes in healthcare, and the rising popularity of point-of-care (POC) diagnostics.

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Technavio has announced its latest market research report titled Global Hepatitis B and C Diagnostics Market 2023-2027

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Key Drivers Fueling Market Expansion:

The growing demand for molecular diagnostics, especially in the diagnosis of hepatitis B virus (HBV) and hepatitis C virus (HCV), serves as a significant driver for market growth. With approximately 600 hospital laboratories and 200 independent laboratories globally performing high-volume testing, there's a notable need for automated molecular diagnostic platforms to simplify sample preparation and facilitate accurate diagnoses.

Trends Reshaping Diagnostic Landscape:

A prominent trend in the market is the increasing demand for biomarker-based tests, which detect the presence or absence of diseases. Technological advancements in proteomics, nucleic acid expression, and genome sequencing have paved the way for the emergence of molecular biomarkers, leading to the development of sophisticated assays. This trend is expected to replace conventional drug therapeutics and drive revenue growth from personalized test devices.

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Challenges Hindering Market Growth:

Despite the promising outlook, the market faces challenges, including low penetration of HBV and HCV diagnostic tests. A significant portion of individuals with these infections remains undiagnosed, primarily due to lack of awareness, inadequate tools, and delivery issues. Furthermore, the high cost of diagnostics, complex treatment regimens, and absence of government policies pose hurdles to market expansion.

Major Market Players:

Leading companies in the hepatitis B and C diagnostics market, such as Abbott Laboratories, Bio Rad Laboratories Inc., and Roche Ltd., are employing various strategies like strategic alliances, mergers, and product launches to enhance their market presence.

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Fastest-Growing Segment:

The immunodiagnostics segment is poised for significant growth during the forecast period, owing to its established presence and high adoption rates for diagnosing HBV and HCV. Increased demand for quantification diagnostic tests and viral core antigen testing is expected to drive market growth in this segment.

Key Regional Insights:

North America is anticipated to contribute significantly to the global market, accounting for 47% of growth during the forecast period. Factors such as increasing blood transfusions and the adoption of point-of-care testing methods are driving market expansion in the region. Initiatives by non-profit and government institutes are also expected to fuel growth.

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Conclusion:

The hepatitis B and C diagnostics market is on a trajectory of robust growth, fueled by technological advancements, increasing demand for molecular diagnostics, and strategic initiatives by market players. Despite challenges, such as low penetration rates and complex treatment regimens, the market is poised for significant expansion, especially in regions like North America. As innovative breakthroughs continue to reshape the diagnostic landscape, stakeholders must adapt and collaborate to seize opportunities in this dynamic market.

Analyst Review

The immunoassay segment within the healthcare industry is witnessing significant advancements, particularly in diagnostic tools for detecting hepatitis B surface antigen (HBsAg) and hepatitis C virus (HCV). With the growing emphasis on improving healthcare infrastructure globally, various industry players are actively contributing to the development and distribution of innovative technologies and services in this domain.

One notable player in this arena is Gilead Sciences, Inc, which has been instrumental in the development of diagnostic tests for hepatitis. Alongside Gilead, Vir Biotechnology, Inc has also made notable strides in enhancing diagnostic capabilities, especially in regions with limited healthcare access.

The hepatitis diagnostic test market has seen substantial growth, with key players such as Danaher Corporation, Bio-Rad Laboratories Inc, Qaigen Inc, Sysmex Corporation, and Siemens Healthineers contributing to its expansion. These companies offer a wide range of technology and services aimed at improving the accuracy and efficiency of hepatitis diagnosis.

Partnerships play a crucial role in advancing healthcare initiatives, and the Partnership for Health Advancement in Vietnam (HAIVN) stands out as a significant collaboration aimed at improving healthcare outcomes in Vietnam. This partnership involves renowned institutions such as Brigham and Women's Hospital, Harvard Medical School, and Beth Israel Deaconess Medical Center, collectively working towards enhancing diagnostic capabilities and treatment options for hepatitis and other infectious diseases.

One notable technological advancement in this field is the Elecsys HCV Duo immunoassay, developed by Roche Diagnostics, which has revolutionized hepatitis C diagnosis by enabling simultaneous detection of antibodies and antigens associated with the virus.

In terms of market size, the hepatitis diagnostic test market is valued in the billions of USD, reflecting the growing demand for accurate and reliable diagnostic solutions worldwide.

Market trends indicate a shift towards more comprehensive diagnostic approaches, incorporating molecular biology techniques alongside traditional immunoassays for improved sensitivity and specificity.

Within the competitive landscape, companies such as Abbott Laboratories, BioMerieux SA, Hologic Inc, MedMira Inc, and Grifols SA are actively competing to expand their market presence and offer innovative diagnostic solutions for hepatitis and other infectious diseases.

Overall, the immunoassay segment within the healthcare industry continues to evolve rapidly, driven by technological advancements, strategic partnerships, and a growing focus on improving healthcare infrastructure and access globally.

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Market Overview

The immunoassay segment within the hepatitis diagnostic test market is witnessing substantial growth, with key players like Gilead Sciences, Inc. and Vir Biotechnology, Inc. pioneering innovative diagnostic tools for HBsAg detection. Companies such as Danaher Corporation, Bio-Rad Laboratories Inc., and Qaigen Inc. are actively contributing to the healthcare infrastructure by developing advanced immunoassay technologies. Public Health Agency of Canada and Pan American Health Organization are pivotal in shaping regulatory frameworks and fostering collaboration in this domain. Sysmex Corporation also plays a crucial role in providing cutting-edge solutions for hepatitis diagnosis. With concerted efforts from industry players and regulatory bodies, the immunoassay segment continues to drive advancements in hepatitis diagnostics, ensuring better public health outcomes.

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Table of contents:

1 Executive Summary

2 Landscape

3 Sizing

4 Historic Size

5 Five Forces Analysis

6 Segmentations

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Vendor Landscape

11 Vendor Analysis

12 Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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