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. 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.
Hepatitis B Diagnostic Tests Market: Global Industry Analysis (2012 - 2016) and Opportunity Assessment (2017 - 2027)Buy Now
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