Hepatitis B Diagnostic Tests Market Is Set to Expand at A CAGR Of 6.4% To Reach US$ 1.26 Billion By the Year 2028
Future Market Insights presents a new report titled ‘Hepatitis B Diagnostic Tests Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2022 – 2028’ that studies the performance of the global hepatitis B diagnostic tests market over a 6 year assessment period from 2022 to 2028. The report presents the value forecasts of the global hepatitis B diagnostic tests market and provides pertinent insights into the factors driving market growth as well as the factors restricting market growth. As per the figures provided by Future Market Insights, the global hepatitis B diagnostic tests market was estimated to be valued at nearly US$ 872.5 Mn in 2022 and is likely to reach a valuation of nearly US$ 1,26 Bn in 2028 and in the process exhibit a CAGR of 6.4% during the period of forecast 2022-2028.
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High Prevalence of Hepatitis B in the APEJ Region Boosting Global Market Revenue Growth
The prevalence of hepatitis B is highest in the APEJ region and the disease burden caused by chronic cases of hepatitis B is enormous. APEJ region has more number of chronic hepatitis B patients than any other region in the world and is thus a potential market for hepatitis B test kit manufacturers. As per the data provided by WHO, China accounts for one-third of all chronic hepatitis B infections. In addition, 6.2% of the adult population in the Western Pacific region is infected with hepatitis B. In the South-East Asia region, an estimated 2% of the general population is infected with hepatitis B. According to Hepatitis Australia, approximately 225,000 people are living with chronic hepatitis B in the country. As per the data provided by WHO, in India, the prevalence of hepatitis B surface antigen is 3%-4.2% with over 40 million hepatitis B carriers. Due to such high prevalence of hepatitis B in the APEJ region, the market for hepatitis B diagnostic tests has a huge potential in the region.
Global Hepatitis B Diagnostic Tests Market: Segmentation and Forecast
The global hepatitis B diagnostic tests market is segmented on the basis of product type, end user and region.
- On the basis of product type, the enzyme immunoassay kits segment was estimated to be valued at nearly US$ 590 Mn in the year 2022 and is likely to reach a valuation of nearly US$ 1,100 Mn in 2028, accounting for a CAGR of 6.2% during the assessment period 2022-2028.
- On the basis of end user, the hospitals segment was estimated to be valued at nearly US$ 250 Mn in 2022 and is estimated to reach a valuation of nearly US$ 460 Mn in 2028, registering a CAGR of 6.1% during the period of assessment.
- On the basis of region, the APEJ hepatitis B diagnostic tests market was estimated to be valued at nearly US$ 200 Mn in 2022 and is likely to reach a valuation of nearly US$ 380 Mn in 2028, accounting for a CAGR of 7.2% during the period of forecast.
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Global Hepatitis B Diagnostic Tests Market: Competitive Landscape
This report features some of the important players functioning in the global hepatitis B diagnostic tests market such as bioMérieux SA, Bio-Rad Laboratories, Inc., DiaSorin S.p.A., Abbott Laboratories, Meridian Bioscience, Inc., Vista Diagnostics International, Biogate Laboratories Ltd., J.Mitra & Co. Ltd., Siemens Medical Solutions USA, Inc. and General Biologicals Corporation.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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