Global Hepatitis C Virus (HCV) Testing Market – 2020-2026
Summary: Hepatitis C Virus (HCV) Testing Market
The major shift from conventional technologies to molecular diagnostics has amplified the competence of procedures and has to pull down the dispatch time for results. Molecular diagnostics used in hepatitis testing involve genetic tests to confirm the exact strain of the causative virus. The nucleic acid assays used include HCV RNA and HBV DNA analysis tests. Hence, the availability of such advanced detection techniques is spurring the overall market growth. Furthermore, the high prevalence of hepatitis is also expected to fuel market growth. According to the U.S. Department of Health & Human Services, in 2018, most adults in their 20s and 30s made up 36.5% of newly reported chronic hepatitis C infections and this is expected to increase in the forecast period. Along with these other factors, such as increasing awareness regarding the disease may lead to the further growth of the market.
The term Hepatitis broadly means inflammation of the liver. Heavy alcohol use, some medications, toxins, and certain medical conditions can cause hepatitis. However, hepatitis is often caused due to viral infection. The most common types of viral hepatitis are hepatitis A, hepatitis B, and hepatitis C. The burden of HBV and HCV is disproportionately high in low-income and middle-income countries, particularly in Asia and Africa. Worldwide, the majority of the people with chronic HBV were infected at birth or in early childhood, and perinatal or horizontal transmission predominates in Africa and Asia.
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Understanding the segments helps in identifying the importance of different factors that aid the
Key Market Trends
Immunoassay Segment is Expected to Show Good Growth Over the Forecast Period
Immunoassays are bioanalytical methods, in which the quantitation of the analyte depends on the reaction of an antigen and an antibody. Compared to conventional tests, immunoassays have been proven to provide highly accurate results even with very small samples. The versatile applications and ease of diagnosis have made immunoassay quite popular in recent years. Also, with the rising cases of hepatitis, the market is expected to show better growth. According to WHO, in 2019, Hepatitis B prevalence is highest in the WHO Western Pacific region and the WHO African region, where 6.2% and 6.1% of the adult population is infected respectively. Hence, owing to the aforementioned factors, along with rising technological advancements are expected to further drive the market growth.
North America is Expected to Retain Largest Market Share Over the Forecast Period
North America dominated the market with the largest revenue share. The availability of advanced diagnostic tools and high awareness regarding these products are the key factors driving the growth of the market in North America. The accelerated growth in the Canadian market can be attributed to the initiatives of the government and non-government organizations. For instance, the Public Health Agency of Canada organized the World Hepatitis Day in order to increase awareness regarding hepatitis detection. Thereby, leading to a demand surge for hepatitis detection in the country.
The major players in the market include:
J.Mitra & Co. Ltd
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Key Market Trends | Growth | Share | Sale | Revenue | Manufactures | Technology Component
The study of the Hepatitis C Virus (HCV) Testing Market is a complete study of modern trends gathered from worldwide, industry growth drivers as well as restraints. It presents market estimations for the coming years. It includes analysis of current developments using Porter is five force model examination and scrupulous profiles of peak industry players. The report also incorporates an evaluation of micro and macro factors essential for the accessible market players and fresh entrants along with methodical value chain analysis. The report also features a wide-ranging qualitative and quantitative assessment by examining data assembled from industry analysts and market participants contributing to the Hepatitis C Virus (HCV) Testing Market.
The established players of the market have been evaluated thoroughly in the report covering an in-depth analysis of the global Hepatitis C Virus (HCV) Testing Market. The evaluation comprises the methods adopted by the players in the market. The established and the new players have been assessed thoroughly. Some of the adopted strategies are partnership, mergers and acquisition, investment. Further, the growing initiative of performing research and development is likely to further enhance the market strength in the forthcoming period.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges.
Market Size Estimation
Top-down and bottom-up approaches are used to validate the global Product market size market and estimate the market size for Company, regions segments, product segments and Application (end users).The market estimations in this report are based on the marketed sale price of Product (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). The percentage splits, market share, and breakdown of the product segments are derived based on weightages assigned to each of the segments based on their utilization rate and average sale price. The regional splits of the overall Product market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.
The market is dominated by few global players which compete primarily on the basis of technological innovations. Key market players include Abbott Laboratories, Danaher Corporation, BioMerieux SA, Bio-Rad Laboratories Inc, Diasorin S.p.A, F. Hoffmann-La Roche AG, Hologic Inc, MedMira Inc, Qaigen Inc, and Siemens Healthineers.
What are the key segments in the market?
- By product type
- By End User/Applications
- By Technology
- By Region
Which market dynamics affect the business?
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
Table of Content: Hepatitis C Virus (HCV) Testing Market
1 Study Coverage
2 Executive Summary
3 Breakdown Data by Manufacturers
4 Breakdown Data by Type
5 Breakdown Data by Application
11 Company Profiles
12 Future Forecast
13 Market Opportunities, Challenges, Risks, and Influences Factors Analysis
14 Value Chain and Sales Channels Analysis
15 Research Findings and Conclusion
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