The global Hepatitis Test Diagnosis 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.
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 Solution Market.
The ELISA segment is expected to hold the largest market share during the forecast period
On the basis of technology, the hepatitis test diagnosis market is segmented into ELISA, rapid diagnostics test, PCR, INAAT, and other technologies. In 2018, the ELISA is expected to account for the largest market share, by technology. The wide acceptance of this test in clinical practices to diagnose hepatitis is the main factor driving this market.
Geographical Growth:
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 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.
Key Players:
The key players operating in Hepatitis Test Diagnosis Market include Abbott Laboratories (US), Roche (Switzerland), Bio-Rad (US), Siemens (Germany), DiaSorin (Italy), QIAGEN (Netherlands), bioMérieux (France), Danaher (US), and Grifols (Spain).
Different Growth Strategies Adopted by Key Players:
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 diagnosis 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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