Hepatitis Rapid Testing Market Forecast and CAGR
According to latest research by Fact MR, hepatitis rapid testing market will experience substantial growth with CAGR of XX% during the forecast period 2021-2031. Increased demand for hepatitis rapid testing due to the high prevalence of hepatitis infections and increasing awareness about treatment and procedures available can give boost to this market.
What is Driving Demand for Hepatitis Rapid Testing?
Hepatitis meaning inflammation or damage to the liver affects the functioning of liver associated with nutrient processing, filtering the blood and fighting against infection. Often caused by one of 5 viruses, hepatitis A is common in many countries and can be cured.
Whereas, hepatitis B (HBV) and hepatitis C (HCV) are majorly associated with liver transplants and liver cancer. If not diagnosed early, HBV and HCV can result in serious health issues including liver cirrhosis, liver failure, cancer or even death. Patients may not be able to recover from such viral infections, especially the immune-compromised people if left untreated.
Since medication and treatment are available for hepatitis A and B, regular testing has been recommend for diagnosing hepatitis C infections both acute and chronic cases. This will allow for preventive measures followed by lifesaving treatment to be undertaken by individuals infected with hepatitis C virus. This will also help to determine the degree of damage to the liver along with other health problems resulting from infection, thus preventing virus transmission to others.
As per World Health Organization (WHO) updates 2021, around 58 Mn people are suffering from hepatitis C virus infection around the world, with almost 1.5 Mn new cases of infection occurring every year.
The growing R&D facilities in the world, advances in rapid detection technology procedures, serological testing for identifying infected virus, increased access to test and care are driving the demand for hepatitis rapid testing during the forecast period from 2021 to 2031.
Know More Details About the Report
Technological Advancements opportunities for Hepatitis rapid Testing Market
With the help of technology and extensive studies on virus causing hepatitis especially HCV, establishment of various effective antiviral drugs and diagnostics devices have been carried out to treat the infections of HCV. Improved therapeutic options for infection management and the development of new technologies to measure the viral load in the infected patients have significantly unlocked the market potential for hepatitis rapid testing.
Rapid diagnostics test are making their way in the field of hepatitis rapid testing, as these allow for diagnosing acute infections and confirming chronic cases of hepatitis allowing prompt action to be taken for treatment of the infected cases.
The technological innovations expected to provide more affordable yet simplified testing methods to test and monitor hepatitis infection is anticipated to make future growth of hepatitis rapid testing market.
US and Canada Hepatitis Rapid Testing Outlook
U.S. and Canada are among the largest market for Hepatitis Rapid Testing due to high prevalence of hepatitis cases.
As per Centers for Disease Control and Prevention (CDC) 2018 report, around 24,900 cases of hepatitis A are detected in USA almost every year. While 22600 cases of hepatitis B and 50,200 cases of hepatitis C were detected in year 2018. It was recorded that nearly 2 out 3 people having hepatitis B and 50% of those with hepatitis C were unaware of them being infected with respective viral infections.
Viral Hepatitis Surveillance report, 2019 stated that a total of 18846 cases of hepatitis A in USA were reported to CDC in 2019. Total cases of hepatitis B includes around 3192 acute cases and 13, 859 chronic cases while hepatitis C cases includes 4136 acute and 123,312 newly reported chronic cases during 2019.
Regular testing recommended by government for early diagnosis, various programs undertaken on national level to eliminate the viral hepatitis, public health programs initiated to prevent and control the hepatitis infection and recent development for the treatment of hepatitis C infection, all of these are expected to drive the demand for hepatitis rapid testing market in US and Canada.
Avail customized purchase options for your needs
Europe Demand Outlook for Hepatitis Rapid Testing
In Europe the prevalence of hepatitis infection cases are in rise due to transmission of virus through injecting drugs, sharing used and contaminated needles and from mother to child perinatally.
For Instances, as per reported data of European Centre for Disease Prevention and Control in 2019, 37,733 cases were reported for hepatitis C in Europe, of which 6% were acute, 22% chronic and 69% unknown. Most common mode of transmission was through injecting drug use.
On the other hand, 29,669 cases of hepatitis B virus infection were reported in 2019, with 6% as acute, 48% as chronic and rest either unknown or unclassified.
In order to reduce these numbers, it is important to test and diagnose the viral infection at the earliest to prevent further health deterioration. Thus creating demand for Hepatitis Rapid Testing Market in the forecast period.
Who are the Key Manufacturers and Suppliers of Hepatitis Rapid Testing?
Some of the leading manufacturers operating in the Hepatitis Rapid Testing include
- Standard Diagnostics Inc
- DiaSorin S.p.A
- SD Biosensor
- Kehua-Bio-Engineering Co. Ltd.
- bioMerieux SA
- Biokit S.A.
- RPC Diagnostics System
- Dia Pro- Diagnostic Bioprobes s.r.l.
- Creative Diagnostics
- Asan Pharm Co. Ltd.
- Orasure Technologies
- InTec Products Inc.
- Bio-Rad Laboratories Inc
- Sysmex Asia Pacific Pte Ltd.
- F. Hoffmann- La Roche Ltd.
Many leading manufacturers in the Hepatitis Rapid Testing are focusing on launching new products, collaboration, exclusive distribution and marketing agreements to enhance their market position.
An Adaptive Approach to Modern-day Research Needs
Hepatitis Rapid Testing Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
By Product Type
- Test Strip
By Test Type
- Rapid Diagnostic Tests/ Point-of-care Tests
- Immunoassay Tests
- ELISA Kits
- Enzyme Immunoassay kit
- Molecular assay Tests
- Nucleic Acid Test/ PCR test
- Clinical Diagnostics
- Academic Research Centers
By End Users
- Diagnostic Centers
- Pathology Laboratories
- Research Centers
- Specialty Clinics
- North America
- Latin America
- South Asia
- East Asia
- Middle East and Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE: Although care has been taken to maintain the highest levels of accuracy in reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Need an Exclusive Report for your Unique Requirement?
- Related Reports -
- Our Clients -
- Evaluate How Fact.MR's Report Can Help. -
Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.