Hepatitis C Testing Market

Hepatitis C Testing Market Research, 2031

The global hepatitis c testing market was valued at $1.3 billion in 2021, and is projected to reach $2.3 billion by 2031, growing at 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. It can be diagnosed with an antibody tests, genotype tests, and viral load tests. The increase in blood transfusion and donations rate contributes to the rise in the prevalence of hepatitis C. The hepatitis C virus can be transferred through blood transfusion; hence hepatitis testing is mandatory for blood banks.

The COVID-19 outbreak is anticipated to have a negative impact on the growth of the hepatitis C testing market as there is implementation of lockdown in many countries. The COVID-19 pandemic affected the supply chain and decrease in blood donations all over the world. The entire healthcare industry has focused on life saving and COVID-19 related techniques during the pandemic. Thus, COVID-19 has significant negative impact on hepatitis C testing market. However, the government initiatives to provide safer healthcare facilities and rise in blood donation rate for the treatment of COVID-19 with blood plasma is anticipated to grow in post pandemic situations.

Furthermore, the increasing rate of hepatitis C and technological advancements in hepatitis C testing drive the growth of the Hepatitis C Testing Market Size. For instance, according to a report by the 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. There are an estimated 3.2 million adolescents and children with chronic hepatitis C infection.

Moreover, the rise in demand for hepatitis C testing, product launch, product approvals, and the presence of key players contribute to the growth of the Hepatitis C Testing Market Size. In addition, an increase in R&D activities for the development of advanced and cost-effective hepatitis C testing fosters the growth of the market. For instance, in July 2022, Roche, a leading biotechnology company launched Elecsys HCV Duo, a new dual antigen and antibody diagnostic test for hepatitis C. Thus, a rise in R&D activities and new product launches propel the growth of the Hepatitis C Testing Industry.

Furthermore, an increase in the number of diagnostic centers and blood banks drives the growth of the market. In addition, the regulating organizations of respective nations have established guidelines for blood banks and blood donations in order to avoid the spread of diseases. For instance, World Health Organization (WHO), recommends that all blood donations should be screened for infections prior to use. Screening for human immunodeficiency virus (HIV), hepatitis B, hepatitis C, and syphilis should be made mandatory.

In addition, growth in the number of hospitals, the surge in access to healthcare facilities globally, and increased healthcare expenditure drive the growth of the Hepatitis C Testing Market Share. For instance, according to American Medical Association (AMA), health spending in the U.S. increased by 9.7% in 2020 to $4.1 trillion or $12,530 per capita. Moreover, rise in the government initiatives to provide improved healthcare facilities propels the growth of the market. In addition, growth in the private hospital sector, medical tourism, and ambulatory surgical clinics augment the growth of the market. Medical tourism provides healthcare services at a lower cost, which contributes to the adoption of medical services.

Furthermore, the COVID-19 pandemic has boosted the demand for blood transfusions. During the COVID-19 pandemic, there was a huge demand for blood plasma for the treatment of COVID-19 patients. Thus, this positive impact of COVID-19 and the rise in demand for hepatitis C testing in blood banks drive the growth of the market.

The key players operating in the global Hepatitis C Testing Industry are 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.

The hepatitis c testing market is segmented into Technique, Test, and End User.

By technique, the market is fragmented into immunoassay, polymerase chain reaction (PCR), and others. The polymerase chain reaction (PCR) is further classified into real-time PCR and other PCR.

Depending on the test, the market is segregated into antibody tests, genotype tests, and viral load tests. By end user, the market is categorized into hospital & diagnostic laboratories, blood banks, and others.

By region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and the Rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Arabia, South Africa, and LAMEA).

Depending on the technique, the immunoassay segment dominated the market in 2021, and this trend is expected to continue during the forecast period, owing to improvements in health care infrastructure and the prevalence of infectious diseases. However, the polymerase chain reaction (PCR) segment is expected to witness considerable Hepatitis C Testing Market Growth during the forecast period, due to the prevalence of the COVID-19 pandemic and advancements in polymerase chain reaction (PCR).  

By test, the antibody test segment dominated the market in 2021, and this trend is expected to continue during the forecast period, owing to advancements in antibody testing. However, the viral load test tests segment is expected to witness considerable growth during the forecast period, due to an increase in the prevalence of infectious diseases and increasing healthcare expenditures.

By end user, the hospital & diagnostic laboratory segment dominated the market in 2021, and this trend is expected to continue during the forecast period, owing to the rise in the number of hospital & diagnostic laboratories and government initiatives to improve healthcare infrastructure. However, the blood banks segment is expected to witness considerable growth during the Hepatitis C Testing Market Forecast period, due to a surge in demand for blood transfusion and an increase in the prevalence of chronic diseases.

By region, North America garnered the major share in the hepatitis C testing market in 2021 and is expected to dominate the global market during the forecast period, owing to the rise in the incidence of chronic diseases, well-developed healthcare infrastructure, and presence of key players. However, Asia-Pacific is expected to register significant growth, owing to a rise in the incidence of infectious diseases, improvements in the healthcare infrastructure, and the presence of a high population base.

Key Benefits For Stakeholders

• This report provides a quantitative Hepatitis C Testing Market Share of the market segments, current trends, estimations, and dynamics of the hepatitis c testing market analysis from 2021 to 2031 to identify the prevailing Hepatitis C Testing Market Opportunity.
• Market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
• An in-depth analysis of the hepatitis c testing market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global hepatitis c testing market trends, key players, market segments, application areas, and market growth strategies.

 Hepatitis C Testing Market Report Highlights