North America's HBV testing industry thrives due to high prevalence, awareness, tech, infrastructure, government support, patients, and R&D.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, October 30, 2023 /EINPresswire.com/ -- The chronic hepatitis B virus testing industry was valued at US$ 919 million in 2023, and it is projected to grow at a compound annual growth rate (CAGR) of 6.9% from 2023 to 2033, when it is predicted to reach US$ 1790 million. The market for chronic hepatitis B virus testing has grown as a result of improvements in diagnostic instrument technology and raised awareness of testing procedures. From 2018 to 2022, the market for chronic hepatitis B virus testing had a compound annual growth rate (CAGR) of 5.1%.

Another factor driving the growth of the market is the increasing public awareness about the importance of early diagnosis and treatment of chronic HBV infection. As more people become aware of the risks associated with chronic HBV infection and the importance of early intervention, the demand for diagnostic tests is likely to increase. Additionally, government initiatives aimed at increasing public awareness and improving access to testing and treatment are expected to further drive the growth of the Chronic hepatitis b virus testing industry.

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The availability of advanced diagnostic technologies is also contributing to the growth of the market. Advances in serological assays, nucleic acid tests, and imaging technologies have led to the development of more accurate and reliable diagnostic tests for chronic HBV infection. These tests are also becoming more accessible and affordable, making it easier for patients to access testing and treatment.

Key Takeaways from the Market Study:

Chronic hepatitis B virus testing industry is expected to grow at a value of 6.9% CAGR in the forecast period 2023 to 2033.

By product type, EIA kits are expected to hold 53% of the market share in 2023 for Chronic hepatitis B virus testing industry.

North America is expected to possess 44% market share for Chronic hepatitis B virus testing industry in 2023.

Europe Chronic hepatitis B virus testing industry size is expected to possess 39% market share in 2023.

“High prevalence of the disease has created a significant demand for accurate and reliable diagnostic tests to detect and monitor the infection, driving the growth of the Chronic hepatitis b virus testing industry” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI) analyst.

Competitive Landscape:

Key Companies Profiled

Gilead Sciences
GlaxoSmithKline
Ionis Pharma
Janssen Sciences Ireland
Assembly Biosciences
Janssen and Arrowhead Pharmaceuticals
Roche
Vir Biotechnology
Bio-Rad Laboratories, Inc.
DiaSorin S.p.A.
Abbott Laboratories
Meridian Bioscience

Recent Development:

Gilead Sciences' has partnered with the Hepatitis B Foundation and the Task Force for Global Health to launch the Hepatitis B Rural Outreach and Testing (HB R.O.O.T.) program. This program aims to increase HBV testing and diagnosis in rural areas of the United States, where HBV testing and diagnosis rates are often low.

One of Janssen's key contributions in the area of HBV testing is their development of a blood test that can detect the presence of HBV DNA in the bloodstream. The test, called the COBAS AmpliPrep/COBAS TaqMan HBV Test, is used to monitor the amount of virus in patients with chronic HBV infection and to evaluate the effectiveness of antiviral treatment.

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Key Segments Profiled in the Chronic hepatitis B virus testing industry Survey:

Product Type:

Enzyme Immunoassay Kits
Hepatitis B Surface Antigen Test
Anti-Hepatitis B Surface Antibody Test
Anti-Hepatitis B Core Antibody Test
Point-of-Care Testing Kits

End User:

Hospitals
Clinics
Diagnostic Centers
Home Care

Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa

Author By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

Explore FMI’s related ongoing Coverage on Healthcare Market Insights Domain

Chronic Pulmonary Hypertension Treatment Market Size: The global market is expected to garner a market value of US$ 7 billion in 2023 and is expected to accumulate a market value of US$ 11.4 billion by registering a CAGR of 5% in the forecast period 2023 to 2033.

Hepatitis B Diagnostic Tests Market Share: By the end of 2023, the market is likely to reach a valuation of US$ 872.5 million. The global market for hepatitis B diagnostic tests is likely to garner a 6.5% CAGR and reach a market worth US$ 1744.26 million by 2033.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Ankush Nikam
Future Market Insights, Inc.
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