Hepatitis B Diagnostic Tests Market to receive overwhelming hike in Revenues by 2027

Increasing prevalence of Hepatitis B around the world is expected to boost the global Hepatitis B diagnostic tests market

Hepatitis B is a potentially life threatening infection and has become a major healthcare problem all over the world. As per the data provided by WHO, an estimated 257 million people are living with hepatitis B viral infection. In the year 2015, hepatitis resulted in 887,000 deaths, mostly from complications such as hepatocellular carcinoma and cirrhosis.

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The prevalence of hepatitis B is highest in the Western Pacific and African regions where 6.2% and 6.1% respectively of the adult population is infected. Hepatitis B can cause chronic infection and pose a high risk of mortality. It is estimated that 80-90% of the infants infected with hepatitis B during first year of life develop chronic infections.

There is an increased prevalence of hepatitis B due to the exploding urbanization and environmental changes due to a changing lifestyle. This situation creates a huge opportunity for hepatitis B diagnostic test manufacturers.

In addition, a rising awareness due to the initiatives taken by governments and non-profit organizations is likely to fuel the growth of the global hepatitis B diagnostic test market. There is a growing awareness about the need for early detection of hepatitis B infections and this also is likely to fuel the growth of the market.

Market penetration of point-of-care tests due to the increasing awareness is also boosting the market growth, especially in developed countries.

As per our assessment, the global hepatitis B diagnostic tests market was estimated to be valued at nearly US$ 650 Mn in 2017 and is likely to reach a valuation of nearly US$ 1,200 Mn in 2017 and account for a CAGR of 6.3% during the assessment period 2017-2027.

Increasing prevalence of acute cases of Hepatitis B is expected to drive the market in North America

The prevalence of acute hepatitis cases is high in North America due to the exposure to blood or body fluids of an infected person, reuse of injections, unscreened blood transfusion or sexual contact with an infected person.

According to CDC, the number of reported cases of hepatitis B increased from 0.3% between 2011 and 2012 to 20.7%, i.e. 3,370 cases in 2015. Chronic cases of hepatitis B in the United States were estimated to be 850,000. However, other sources put the figure to be more than 2.2 million.

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Diagnosis is the first crucial step for getting the recommended care and treatment for the patients suffering from hepatitis B. Due to such reasons, CDC and the U.S. government have taken initiatives to screen the hepatitis B infection in early stages. CDC and USPSTF have recommended HBV testing for the people travelling to the United States from endemic regions in order to prevent the outbreak of hepatitis B.

Global Hepatitis B Diagnostic Tests Market Analysis 2012–2016 and Forecast 2017–2027, By Region

As per the report figures, the North America hepatitis B diagnostic tests market was estimated to be valued at nearly US$ 140 Mn in 2017 and is expected to reach a valuation of nearly US$ 210 Mn in 2027, exhibiting a CAGR of 4.6% during the assessment period of 2017-2027.

The Middle East and Africa hepatitis B diagnostic test market was estimated to be valued at nearly US$ 130 Mn in 2017 and is anticipated to reach a valuation of nearly US$ 250 Mn in 2027, accounting for a CAGR of 6.9% during the period of forecast.

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This release was published on openPR.