Market Trends of Global Hepatitis Diagnostic Test Industry
This section covers the major market trends shaping the Hepatitis Diagnostic Test Market according to our research experts:
Immunoassay Segment is Expected to Witness Growth Over the Forecast Period.
Immunoassays are bioanalytical methods in which the quantitation of the analyte depends on the reaction of an antigen with an antibody. Compared to conventional tests, immunoassays have been proven to provide highly accurate results, even with microscopic samples. The versatile applications and ease of diagnosis have made immunoassays quite popular in recent years. The Pan American Health Organization organized World Hepatitis Day on July 28th, 2022. The key message of the event was to eradicate hepatitis by 2030. The event highlighted the need to reduce new infections of hepatitis B and C by 40% by 2025. To eliminate hepatitis and meet the WHO's new interim targets by 2025, at least 60% of people living with hepatitis B and C should be diagnosed. This emphasizes the increasing need for immunoassay to diagnose different types of hepatitis, which is ultimately projected to augment the segment's growth during the forecast period.
In addition, the growing product launches, partnerships, and acquisitions by the key market players are leading to increased segment growth. For instance, in May 2022, Abbott launched the HBsAg next qualitative solution in India to improve the identification of the Hepatitis B virus (HBV). This extremely sensitive chemiluminescent microparticle immunoassay (CMIA) helps in the early and enhanced detection of HBV in human serum, plasma samples, and population screening. Such launches are projected to boost the segment's growth.
Thus, the aforementioned factors are anticipated to boost the market's growth over the forecast period.
North America is Expected to Dominate The Hepatitis Diagnostic Test Market Over the Forecast Period
North America is expected to dominate the market owing to advanced diagnostic tools, high awareness regarding the disease and diagnostic devices, the strong presence of industry players in the region, better healthcare infrastructure, and higher awareness among healthcare industry stakeholders about available technologies in the region. For instance, between April and September 2022, the Public Health Agency of Canada investigated 28 cases of severe acute hepatitis in children in Canada that met the national case definition. Thus, an increase in hepatitis cases is expected to increase its diagnostic testing, eventually driving the market growth in the region.
Additionally, the increasing product launches, partnerships, acquisitions, and government initiatives, particularly in the United States, bolsters the market's growth. For instance, in January 2021, Gilead Sciences, Inc. and Vir Biotechnology, Inc. formed a clinical collaboration to test novel therapeutic combination approaches to develop a functional cure for chronic hepatitis B virus (HBV). Such collaborations are projected to expedite the growth of the hepatitis diagnostic test market in the region.
Therefore, owing to the factors mentioned above, the growth of the studied market is anticipated to boost in the North American region.
