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Hepatitis E Diagnostic Tests Market - Forecast (2016-2024): Market Shares And Strategies Of Key Players

06-07-2017 03:09 PM CET | Health & Medicine

Press release from: Transparency Market Research

Hepatitis E Diagnostic Tests Market - Forecast (2016-2024):

Global Hepatitis E Diagnostic Tests Market: Snapshot

The growing incidence of hepatitis E, a liver disease caused by infection due to the virus hepatitis E virus (HEV), is a leading cause of morbidity and mortality worldwide. There is increasing prevalence of hepatitis E in resource-limited region, such as various countries of Asia Pacific. The people of these regions suffer with frequent water contamination and have limited access to sanitation and hygiene, making it imperative for the diagnosis of hepatitis E. These factors have spurred the demand for hepatitis E diagnostic tests, especially among young adults in the age of 15 to 40 years. The growing awareness of the related symptoms of the disease has propelled the growth of the market in various regions.

The global hepatitis E diagnostic tests market is anticipated to rise at a CAGR of 3.80% from 2016 to 2024. The market was valued at US$43.7 mn in 2015 and expected to reach US$60.4 mn by the end of the forecast period.

The global hepatitis E diagnostic tests market is extremely competitive with the leading players adopting a competitive pricing strategy of various diagnostic tests, including the kits used for the primary ELISA HEV IgM tests.

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Hepatitis E Hyper-endemicity in Asian Economies to Ensure Dominance of Asia Pacific Region

On the basis of geography, the global market is segmented into Europe, Asia Pacific, Latin America, North America, and the Middle East and Africa. Of these, Asia Pacific is the leading regional market. The impressive growth of the market is attributed to hepatitis E assuming endemic proportions in various Asian countries, especially resource-poor regions, such as Nepal, Vietnam, Pakistan, Bangladesh, Burma, Kazakhstan, Thailand, and Bhutan. The regional market is poised to attain a share of over 48% by the end of 2024.

Besides, the Middle East and Africa is expected to witness a steady and substantial demand for the hepatitis E diagnostic tests. The growth in the regional market is driven by increasing prevalence of hepatitis E in countries such as Kenya, Uganda, Nigeria, and Morocco attributable to poor hygienic conditions, limited access to safe drinking water, and lack of sanitation. The soaring number of people suffering from Hepatitis E, especially the prevalence of the disease across pregnant women, has made it a public health concern in the region. Consequently, the governments of various countries of Africa are making evidence-based control policies, including the modes of transmission. Timely treatment calls for extensive tests for people who are more prone to infections, especially those using contaminated piped water. This has spurred the demand for Hepatitis E diagnostic tests fuelling the regional market.

North America and Europe markets are expected to witness only incremental growth over the forecast period.

RT-PCR diagnostic Test Gaining Wide Adoption

Among the different types of diagnostic tests for hepatitis E, the primary tests are ELISA HEV IgM test kits, ELISA HEV IgG test kits, and RT-PCR test kits. The market has witnessed an extensive demand for ELISA HEV IgM test kits. Owing to growing seroprevalence of hepatitis E across the globe, market analysts expect the demand for ELISA HEV IgM diagnostic test kits to soar significantly over the forecast period. The demand for RT-PCR test kits is expected to closely follow that of ELISA HEV IgM test kits in the coming years. The use of RT-PCR diagnostic test among clinicians is propelled by the rapid generation of results and the high sensitivities and specificities of the molecular assay. On the other hand, the ELISA HEV IgG test kits segment is expected to register a modest growth along the forecast period.

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Companies vying for a significant share in the global market for hepatitis E diagnostic tests include Beijing Wantai Biological Pharmacy, Primerdesign Ltd., Mikrogen GmBH, MP Biomedicals LLC, Fast-track diagnostics Ltd., Fortress Diagnostics Ltd., F. Hoffmann-La Roche Ltd., Biokit S.A., and Altana Diagnostics GmbH.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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