Global Herpes Marker Testing Market : North America to grow at 6.4% CAGR during 2017-2025

Leading players operating in the global herpes marker testing market covered in the report include Abbott Laboratories, Abcam Plc, BioMérieux SA, Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche Ltd., DiaSorin S.p.A., Quidel Corporation, Luminex Corporation, Merck KGaA, Qiagen N.V., Norgen Biotek Corp., Hologic Inc., Bio Rad Laboratories Inc., Meridian Bioscience Inc. and Teco Diagnostics.

According to the latest market report published by Persistence Market Research titled ‘Herpes Marker Testing Market: Global Industry Analysis (2012 – 2016) & Forecast (2017 – 2025)’, the global market is expected to be valued at US$ 481.8 Mn by 2025 and expand at a CAGR of 6.1% over the forecast period (2017–2025). The overall market is anticipated to grow 1.7x in terms of value over the forecast period.

Market Dynamics

Certain factors such as positive diagnostic lab industry dynamics, increasing herpes prevalence, rising awareness, support from various government and non-government organizations, new product approvals and launches, increasing focus on evidence based medicines etc. are boosting revenue growth of the market. However, insufficient R&D initiatives, poor access to diagnostic services in remote areas, pricing pressures, and stringent regulations are some of the factors restricting growth of the market.

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Segmental Forecast

On the basis of test type, the market has been segmented into viral culture test, nucleic acid amplification-based kits and antibody/antigen-based kits. Antibody/Antigen based kits is the highest revenue generating segment over the forecast period owing to the huge product availability as well as high physician preference for this test type. Nucleic Acid Amplification-based kits segment will report the highest growth rate over the forecast period due to the growing acceptance of PCR diagnosis as a gold standard test in herpes testing owing to high sensitivity, specificity and positivity ratio for herpes diagnosis. Antibody/Antigen based kits is projected to be the most attractive segment with an attractiveness index of 1.5 during the forecast period.

Based on the indication, the market has been segmented into HSV-1, HSV-2 and HSV-1/ HSV-2. HSV-1/HSV-2 segment dominated the global herpes marker testing market in revenue terms in 2016 and is projected to continue to do so throughout the forecast period. HSV-1/HSV-2 is projected to be the most attractive segment with an attractiveness index of 1.6 and growth rate of 6.5% during the forecast period.

On the basis of application, the market has been segmented into research use and clinical diagnostics segment. Clinical diagnostics application dominates the market for herpes marker testing with a value share in excess of 85% throughout the forecast period.

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Based on end user, the market has been segmented into hospitals, diagnostics centers, clinics and academic & research institutes. Among all the end users, most of the revenue is generated via the diagnostic centers sales followed by hospitals owing to the maximum number of tests being performed at these facilities. Diagnostics centers dominated the global herpes marker testing market in revenue terms in 2016 and is projected to continue to do so throughout the forecast period. This segment represents a market attractiveness index of 1.6 over the forecast period.

Among the regional markets, North America holds the maximum value share in the global market owing to the accessibility and affordability of diagnostic services in the region and a favorable reimbursement scenario. In terms of growth rate, North America leads with a CAGR of 6.4% followed by Asia Pacific with a CAGR of 6.3%. Asia Pacific represents a highly potential market with a significant growth rate owing to the increasing awareness as well as increasing penetration of market players in the region. The market in Europe ranks third in terms of global market size as well as growth rate while Latin America represents the least market attractiveness index over the forecast period.

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This release was published on openPR.