Research Methodology followed for This Study:
Top-down and bottom-up approaches were used to validate the size of the global Hepatitis Test 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).
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Hepatitis testing refers to the diagnostic procedures performed to determine what genotype of hepatitis is causing the disease and what treatment is best suited. As different hepatitis viruses cause similar symptoms, it is important to run a series of diagnostic tests to identify the virus.
Revenue Growth Expectations:
The global hepatitis test solution market is valued at 2.54 billion in 2017 and expected to grow at CAGR of 4.9% to USD 3.37 billion by 2023 during the forecast period. The base year considered for the study is 2017, and the forecast for the market size is provided for the period between 2018 and 2023.
Growth Boosting Factors:
Increasing number of blood transfusions & donations, high burden of hepatitis worldwide, benefits offered by point of care instruments & kits, and initiatives taken by government and non-government organizations are the major factors driving Hepatitis Test Market.
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 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 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.
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Key Players:
The key players operating in Hepatitis Test Market include Abbott Laboratories (US), Roche (Switzerland), Bio-Rad (US), Siemens (Germany), DiaSorin (Italy), QIAGEN (Netherlands), bioMérieux (France), Danaher (US), and Grifols (Spain).
Collaborations, agreements, and partnerships remain at the center of the strategic growth initiatives adopted by most of the key players in the global hepatitis test solution market. Companies such as Abbott Laboratories, Roche Diagnostics, Bio-Rad, DiaSorin, Danaher, and Grifols have been focusing on this inorganic strategy to enhance their market presence. Players also adopted product launches, product approval, and acquisition as growth strategies.
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