PUBLISHER: Allied Market Research | PRODUCT CODE: 1179743
PUBLISHER: Allied Market Research | PRODUCT CODE: 1179743
The global hepatitis C testing market was valued at $1,329.0 million in 2021, and is projected to reach $2,248.2 million by 2031, registering a CAGR of 5.3% from 2022 to 2031. Hepatitis C is a viral infection that causes liver inflammation, sometimes leading to serious liver damage. The hepatitis C virus (HCV) spreads through contaminated blood. The hepatitis C can be diagnosed with antibody test, genotype test, and viral load test.
The increasing rate of hepatitis C and rise in awareness about hepatitis C drives the growth of market. For instance, according to a report of World Health Organization (WHO) published on June 2022, globally, an estimated 58 million people have chronic hepatitis C virus infection, with about 1.5 million new infections occurring per year. An estimated 3.2 million adolescents and children have the chronic hepatitis C infection. Thus, increase in prevalence of hepatitis C globally boosts the growth of the market.
In addition, factors such as increase in blood donation and rise in blood transfusion rate foster the growth of the market. The blood transfusion is a leading cause of hepatitis C virus transmission. For instance, as per the report of World Health Organization (WHO) published on May 2022, about 118.54 million blood donations are made worldwide. 40% of these are collected in high-income countries. The World Health Organization (WHO) recommends that all blood donations should be screened for infections prior to use. Screening for HIV, hepatitis B, hepatitis C, and syphilis should be mandatory.
Moreover, increase in R&D activities for development of advanced hepatitis C testing such as immunoassay & polymerase chain reaction (PCR), rise in the U.S. food & drug administration (FDA) approvals and novel product launch in the market by key players boost the market growth. For instance, in December 2020, Transasia Bio-Medicals, a leading Indian diagnostic company, announced the launch of India's first, high sensitivity testing kit for hepatitis C virus. Based on the latest method, the ErbaLisa HCV Gen 4 Ag+Ab kit, is India's first and only indigenously developed 4th gen ELISA kit and has been evaluated by the National Institute of Biologicals (NIB). Furthermore, advancements in hepatitis C diagnosis further contribute in market growth. However, the high cost of hepatitis C testing may hinder the growth of market.
The hepatitis C testing market is segmented on the basis of technique, test, end user, and region. By technique, market is fragmented into immunoassay, polymerase chain reaction (PCR), and others. The polymerase chain reaction (PCR) segment is further classified into real time PCR, and other PCR.
Depending on test, the market is classified into antibody test, genotype tests, and viral load test. On the basis of end user, the market is categorized into hospital & diagnostic laboratory, blood banks, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in the report include: Abbott Laboratories, BIO-RAD laboratories Inc, Cosara Diagnostics Pvt Ltd, Illumina Inc, Meril Life Sciences Pvt. Ltd., Molbio Diagnostics Pvt. Ltd., PerkinElmer, Qiagen N.V., Thermo Fisher Scientific Inc, and Trivitron Healthcare.
Key Benefits For Stakeholders
By Technique
By Test
By End User
By Region