Hepatitis B Tests Market size was valued at USD 1.33 billion in 2023 and is likely to reach USD 2.77 billion by 2036, registering around 5.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of hepatitis B tests is assessed at USD 1.39 billion. The growth of the market can be attributed to the growing prevalence of hepatitis B, and increasing awareness levels among patients associated with early detection of the disease. According to the World Health Organization, in 2019, 296 million in the world were living with chronic hepatitis B infection, with 1.5 million new infections every year. That same year, hepatitis B resulted in the deaths of 820,000 people globally. Along with these, rise in technological advancements in molecular diagnostics, and upsurge in blood transfusion and donations in patients with hepatitis are also expected to drive market growth significantly in the forthcoming years. Furthermore, rapidly growing biotechnology and biopharmaceutical industries around the world is projected to offer profitable opportunities to the market in the near future.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
5.8% |
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Base Year Market Size (2023) |
USD 1.33 billion |
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Forecast Year Market Size (2036) |
USD 2.77 billion |
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Regional Scope |
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The market is segmented by application into hospitals, clinics, diagnostic centers, home care, and others, out of which, the hospitals segment is anticipated to hold the largest share in the global Hepatitis B Tests market. This can be accounted to the high preference of people to get treatment from highly trained medical professionals, and presence of large patient pool in a hospital facility. Additionally, on the basis of type, the strips kit segment is predicted to grab the largest share during the forecast period owing to the high affordability, and ease of convenience for testing provided by this type of testing kits. Apart from these, tests conducted by strips kit offers results in a short span of time, which is also assessed to boost the growth of the market segment in the future.
Our in-depth analysis of the global Hepatitis B Tests market includes the following segments:
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By Type |
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By Application |
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Regionally, the global Hepatitis B Tests market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. Asia Pacific industry is estimated to dominate majority revenue share by 2036, backed by large number of patients, and growing occurrence of hepatitis in the region. Moreover, the market in North America is expected to grab the largest share during the forecast period, which can be credited largely to the high availability of advanced diagnostic tools in the region. In addition, increasing number of government initiatives to raise awareness about hepatitis, and high healthcare expenditure are also projected to drive the market growth in the region in the coming years. As per the Centers for Medicare & Medicaid Services (CMS), the healthcare spending in the United States grew by 9.7% in 2020, reaching a value of USD 4.1 trillion. As a share of the nation’s Gross Domestic Product (GDP), the health spending accounted for about 19.7%.
Author Credits: Radhika Pawar
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