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Cancer Diagnostics Market will register a CAGR of 8.9%through 2026

Biotechnology companies are focusing on the development of genotype- and phenotype-specific drugs for chronic diseases such as cancer in order to ensure that next-generation drugs are more efficacious. Multiplex and multi-analyte biomarkers play an important role in the development of translational medicine, which facilitates the translation of basic research into medical advances. In line with this, most pharmaceutical and biotechnology companies are committing to associate their drugs with diagnostic assays, as a number of multiplex biomarkers are directly associated with particular drugs. The growing research and development activities in cancer diagnostics are thus expected to bring revolutionary technologies in cancer diagnostics and in turn would drive the growth of the cancer diagnostics market. Future Market Insights, in its latest report on cancer diagnostics, estimates that the global market for cancer diagnostics is expected to expand 2.3x in terms of revenue by 2026 over 2016 and is estimated to reach US$ 76.8 Bn by 2026 end.

Cancer Diagnostics Market: Overview & Global Market Scenario

Early detection of cancer requires suitable cancer diagnostics procedures to screen the asymptomatic population that is on average risk of cancer, particularly for breast cancer, cervical cancers, colon cancers and melanoma. Increasing awareness towards the early signs and symptoms of cancer among physicians and other healthcare professionals as well as the general population. The inclusion of cancer diagnostics and cancer screening tests to national cancer screening programs by various countries would flourish the global cancer diagnostics market. Regular mammography has been introduced in national cancer programs by major developed countries where the incidence of breast cancer is high. For instance, the U.S. government has included the National Mammography Program to its national cancer screening programs. The government of Australia conducts 3 cancer screening programs viz. BreastScreen Australia, National Cervical Screening Program and National Bowel Cancer Screening Program. Countries in Europe are increasingly adopting HPV DNA screening for cervical cancer as a part of National Cervical Cancer Programs.

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Next generation sequencing (NGS) is the most cost-effective, time saving and successful technological advancement in cancer diagnostics in the last three decades. Revolutionary second-generation and third platforms for cancer diagnostics offered by Roche, Illumina and Life Technologies, Pacific Biosciences of California, Inc. are rapidly gaining adoption in the cancer diagnostics market. Many molecular pathology laboratories are transitioning from single molecular PCR protocols to NGS platforms and thus, the market for cancer diagnostics is expected to gain traction.

However, despite the high value propositions of molecular diagnostics for cancer diagnosis, insufficient coverage for costly test procedures discourages majority of patients from pursuing these tests. Moreover, according to the new pricing policy for 2017, CMS has increased rates for several new CPT codes including next-gen sequencing and multi analyte algorithm assays. For instance, CMS increased the cost of next-generation sequencing tests for hereditary breast cancer-related disorders (CPT code 81432) from US$ 623 to US$ 925. It is anticipated that state Medicaid programs will also adjust their prices to reflect Medicare rates. Regulators of CMS as well as private payers are increasingly emphasizing on increasing value and single-source tests having strong evidence of clinical utility. In 2013, CMS discontinued the ‘code stacking’ method for molecular diagnostic reimbursement for cancer. The center has dissolved this policy due to the wrongful exploitation of payment scheme by some of the labs and has stopped paying bills for these tests until the new method of ‘market-based pricing’ comes into action by 2018.

The biopsy segment is likely to dominate the global cancer diagnostics market, primarily due to the introduction of new and advanced techniques such as liquid biopsy and fine needle aspiration for lung cancer. However, the imaging cancer diagnostics segment is expected to gain significant traction due to the high efficiency of imaging technologies such as PET/CT.

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Cancer Diagnostics Market: Competitive Analysis

The competition landscape in the global cancer diagnostics market is changing rapidly. Although molecular testing is a hotspot for investment in in vitro diagnostics, the market exhibits awfully delayed growth due to slow returns on investment. In spite of this, all big cancer diagnostics players in the global market are continuously investing in cancer diagnostics, including molecular biomarker testing, NGS, PET scanners, etc. Companies are also investing in the automation of existing molecular assays for cancer diagnostics to foster future growth prospects in the cancer diagnostics market; however, due to the strong competition among companies in the cancer diagnostics market, they may confront price erosion. For instance, Roche, in spite of being a global leader in cancer diagnostics for many years, has lost some ground after huge investments by its global peers such as Thermo Fisher Scientific Inc. and Merck KGaA, among others.

Companion Animal Vaccines Market to Display Growth at a CAGR of 6.8% by 2026

global companion animal vaccines market

Arecent study published by FMI states that the companion animal vaccine market is likely to register an attractive CAGR of 6.8% in terms of revenue during the forecast period 2018-2026. The companion animal vaccines market is likely to witness significant growth in developed markets by 2018 due to the increasing awareness regarding various infectious diseases that affect pet animals. The easier availability of vaccines and diagnosis of diseases spreading patterns are creating attractive demand opportunities in Asian markets. The FMI study covers the entire macroeconomic and microeconomic spectrum influencing the companion animal vaccines market.

Routine vaccine programs for companion animals have eliminated some of the chronic scourges from developed countries. The improved focused on vaccination campaigns and the higher awareness regarding pet care are fuelling the demand for companion animal vaccines. Attenuated live vaccines is, by far, the largest revenue generating segment, accounting for over half the revenue generated across the globe due to faster action and lower number of required doses. To boost the sales as well as benefits of vaccination, leading vaccine manufacturers are trying to improve vaccine quality by minimizing vaccine load. The industry is witnessing a phase of consolidation in order to set up a technically-superior facility and remain competitive. The companion animal vaccine market in APEJ is expected to witness significant growth due to the increasing awareness and increasing focus towards the adoption of pets, inspired by western countries.

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In developed countries, there is an increasing tendency to vaccinate pets so as to induce “herd immunity”. In this regard, more and more companion animals are being brought under the coverage of at least the core vaccines. Further, re-emerging concept of ‘One Health’ has also impacted on the field of vaccinology especially the management of infectious diseases through the collaborative interaction of agents involved and provide a rational and cost-effective solution. This aims at provision of at least core vaccines to companion animals across the involved countries.

It has been worth noting the animal health industry is one of the most lucrative revenue generating industries as well as innovative too. The route map of the animal health industry is innovative too – “Prevent – Treat – End”. The industry is said to have invested US$ 960 Mn in research and development in the US in 2016. Authorities have reportedly noted that administration of adequate companion animal vaccines keep families safe from health issues.  The largest exported of animal biologics is the U.S. accounting for over 40% of total global exports. In such a scenario, manufacturers of animal biologics in the U.S. and other developed EU markets are facing a windfall in demand generation.

Industry players are on a consolidation spree to remain profitable and sustain profits in the long run. Manufacturers of companion animal vaccines are also emphasizing on collaborative manufacturing in the absence of direct manufacturing presence to grab a greater share in high potential untapped markets such as China and Africa. The Japan-based animal healthcare company, Sumitomo Corp., revealed plans to market vaccines in China in November 2015 through an undisclosed investment in a leading local Chinese drug manufacturer. The company is currently in discussions regarding the establishment of a local vaccine production set up. Further, support from the Ministry of Agriculture, Japan could aid regional expansion in other Asian economies. These type of collaborations are new and could actually boost local manufacturing presence in less developed economies of Asia. External partnerships in research and development and provision of funding are shaping the development of the companion animal vaccines market.

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Aromatherapy Market will register a CAGR of 7.7% through 2026

global aromatherapy market

A recent study of Future Market Insights (FMI) envisages the aromatherapy market to record a healthy 7.7% value CAGR and reach US$ 8,058.5 million valuation between the period of forecast 2016 and 2026. The market is expected to experience promising growth in the near future, mainly due to the increasing health and wellness trend, and popularity of the direct sales channel. Medical centers offering therapeutic treatments have initiated promotions for the use of aromatherapy in the treatment of generic ailments such as headaches, anxiety and depression. Increasing preference for aromatherapy will also be instrumented by its efficiency in boosting cognitive performance, increasing blood circulation, strengthening immunity, improving digestion and reducing pain.

The regions of North America and Western Europe are projected to continue their dominance in the aromatherapy market. Collective revenues from aromatherapy product sales in these two regions will surpass US$ 4 billion, according to the study. However, Asia Pacific excluding Japan (APEJ) will record fastest growth in the aromatherapy market, as spa tourism is on the go in ASEAN markets, and an increasing number of women in this region are inclined to buy essential oils for home usage.

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Diffusers and other equipment used for extracting the aroma of plant extracts will continue to witness a slower sales growth rate as compared to consumables. Revenues from aromatherapy consumables, such as blended oils, carrier oils, will account for bulk shares of the market during the forecast period. There has been increasing usage of aromatherapy diffusers at home to ward off bad smells. The therapeutic properties of essential oils such as immune system, combating cold, allergies and breathing disorders are promoting sound sleep and relaxation at home. As a result, increasing number of people are opting to buy aromatherapy diffusers and essential oils for home usage.

Aromatherapy acts as a complementary treatment in many viral and bacterial diseases such as acute respiratory infections, viral infections, influenza, and bronchitis, and can be used during prophylactic and therapeutic treatment regime for many diseases. Owing to these added benefits and application of essential oils in many indications leads to increasing sales of essential oils for different condition which in turn drive the revenue growth of aromatherapy market.

Increasing consumer preference for aromatherapy can be attributed to its greater skin rejuvenation and hair fall control offered. This has further driven adoption of aromatherapy in skin care and hair care applications, with revenues projected to register an impressive growth through 2026. Demand for aromatherapy is also expected to rise in the treatment of insomnia, pain management, and scar management. Carrot seed, cedar wood, geranium, hyssop, juniper, rose and lavender essential oils are commonly used for scar management.

Aromatherapy market is fragmented with the presence of few established brands and many local players in the market, and the market is witnessing entry of many home-based and startup firms. The major share of market is captured by the brands such as Young Living Essential Oils, doTERRA, Now foods and Eden Garden.

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Considering the growth prospects in emerging markets, various established companies and startup firms have entered aromatherapy market to capture maximum share in emerging markets, as the market is at its nascent stage where herbal products are in high demand. Companies such as Mountain Rose Herbs, Eden Garden, Frontier Natural Products Co-op (Aura Cacia) and Plant Therapy Essential Oils based in the U.S. are recognized all over the world for offering organic herbs, aromatherapy products, essential oils, and other natural health and body care products through online big retail chains and through their own website.

Microfluidics Market expected to surpass US$ 11 Bn in Revenues by 2026

Applications of microfluidics in drug delivery and diagnostics will continue to fuel the market for microfluidics over the next few years. “The US$ 2.9 Bn microfluidics market will possibly cross US$ 11 Bn by the end of 2026. North America is expected to contribute over US$ 3 Bn to the total revenues in 2026. The collective share of North America and Asia Pacific will be over 40%,” states Future Market Insights in a recently published market report outlook, titled “Microfluidics Market: Global Industry Analysis and Opportunity Assessment, 2016-2026.

The report by Future Market Insights analyses the global market for microfluidics over a 10-year forecast period, 2016-2026. The market is likely to witness a robust CAGR of 14.4% over the assessed period.

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Key Insights: Market Dynamics

Increasing discretionary funding from national labs for R&D in the developed regions will remain a primary factor driving the growth of market through 2026.

Improving healthcare infrastructure and wide availability of affordable microfluidic devices or kits are also foreseen to boost the market growth in near future, especially in developing countries.

Expansion of drug delivery sector will favour the market growth in near future.

Consistent advancements in the fields of genomics and proteomics are also expected to benefit the sales of microfluidics-based devices and kits.

Dynamic collaborations between key market players and active involvement of government entities will collectively foster the market through 2026.

Key Insights: Segments

Ceramics will remain dominant material type

Based on material, ceramics will continue to be the most sought after material for microfluidic device or kit manufacturing. Ceramics segment is expected to remain dominance, accounting for over 42% market value share in 2026, followed by glass, polymer, and silicon. While ceramics is likely to witness the fastest growth, polymer segment is anticipated to exhibit a significant CAGR of over 15% over 2016-2026, driven by PVC.

POCT will be dominant application segment

By application, POCT (point of care testing) segment is projected to retain dominance through 2026, accounting for over 33% share in terms of revenues. Clinical diagnostics and analytical testing will remain the next major segments in the global microfluidics market.

In-vitro diagnostics industry will hold maximum revenue share

On the basis of industry, in-vitro diagnostics, life science research, and pharmaceuticals are likely to be the key segments. In-vitro diagnostics segment is estimated to hold a share of over 35% in the total market revenues. The fastest growing segment will be in-vitro diagnosis.

APEJ will be the most lucrative regional market

Geographically, North America, followed by Western Europe are expected to remain the dominant regions for microfluidics, capturing respective market value share of over 26% and over 21% share by 2026 end. Asia Pacific (excluding Japan) will possibly represent the most lucrative market, expanding at a significant CAGR of over 14% throughout the forecast period. This growth is attributed to growing use of microfluidics devices and kits for in-vitro diagnostics. North America and Western Europe will also exhibit significant growth rates over 2016-2026. 

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Key Insights: Leading Market Players

Some of the most prominent players in the global microfluidics market, include Agilent Technologies, PerkinElmer Inc., Thermo Fisher Scientific Inc., Qiagen NV, Bio-Rad Laboratories, Inc., Fluidigm Corporation, Abbott Laboratories, and F. Hoffmann-La Roche Ltd.

Almost all the leading companies serve point of care testing application and survive the competition with an individual differentiating strategy. Thermo Fisher Scientific Inc. and Abbott Laboratories, through active engagement in agreements and collaborations with leading regional companies, highlight a growing trend of strategic mergers and acquisitions among the top companies.

Interventional X – ray Systems Market to expand through 2028

Interventional X – Ray Systems can be defined as a medical device. Where X – Ray systems used for the monitoring the interventional procedure used during interventional neurology, interventional cardiology or any other interventional procedure.

The rising technological improvements in Interventional X – Ray Systems have been observed in the past few years. The evolution of Interventional X – Ray has opened the scope of minimally invasive diagnosis and treatment.

Interventional X – ray Systems Market: Drivers and Restraints

The rise in the prevalence of stroke and cardiovascular disorder are the main reason behind the increasing demand of interventional X – ray systems. The use of interventional X – ray systems guided treatment and diagnosis has lessen the patient risk. According to CDC, stroke is one of the leading cause of death in the U.S. around 140,000 Americans die every year due to stroke.

On the other hand the increasing number of interventional cardiology surgeries such as transcatheter aortic valve replacement (TAVR), transcatheter aortic valve implantation (TAVI), aortic abdominal aneurism (AAA) and percutaneous coronary intervention (PCI) also is a driving factor for the growth of interventional X – ray systems market.

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Favourable reimbursement policy towards interventional surgeries and rising awareness among patients and practitioner for interventional surgeries is also fuelling the market of interventional X – ray systems.

Interventional X – Ray Systems has turned out to be pervasive in most hospitals and diagnostic centers as a standard interventional and diagnostic tool for cardiology and radiology.

Interventional X – Ray Systems Market: Segmentation

To gain a comprehensive and a better understanding of the future Interventional X – Ray Systems market equity, the market report is segmented based on product type, application, end user and region.

Based on the product type Interventional X – Ray Systems is segmented into:

Fixed Interventional X – Ray Systems

Single Plane Interventional X – Ray Systems

Bi-Plane Interventional X – Ray Systems

Surgical C-Arm Interventional X – Ray Systems

Mobile Interventional X – Ray Systems

Mini C-Arm Interventional X – Ray Systems

On the basis of Applications, Interventional X – Ray Systems Market can be segmented as:

Cardiology

Neurology

Oncology

Pediatric

On the basis of end users, Interventional X – Ray Systems Market can be segmented as:

Research Institutes

Hospitals

Diagnostic Centers

Others

On the basis of geography, Interventional X – Ray Systems Market can be segmented as:

North America

Latin America

Europe

Middle East & Africa (MEA)

South Asia

East Asia

Oceania

Interventional X – Ray Systems Market: Overview

Global Interventional X – Ray Systems market has witnessed growth due to expanding demand interventional surgeries such as interventional neurology and interventional cardiology. The rising demand of interventional X – ray systems in interventional surgeries and diagnosis is also a driving factor for the growth of the interventional X – ray systems market. Moreover the dose optimization, dose reduction and dose adjustment feature of interventional X – ray systems is also fuelling the interventional X – ray systems market growth. Aging population and advent of chronic diseases is also straining the growth of interventional X – ray systems market.

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Interventional X – Ray Systems Market: Region-wise Outlook

North America’s Interventional X – Ray Systems market is growing due to the high rate of adoption and it is expected to hold the major share in the forecast due to rising number of interventional surgeries and favorable reimbursement policies. Asia-Pacific’s Interventional X – Ray Systems market is expected to grow at a decent rate due to low healthcare expenditure.

Interventional X – Ray Systems Market: Key Market Participants

Some of the market participants in the Global Interventional X – Ray Systems market identified across the value chain include: BMI Biomedical International s.r.l., EcoRay, EMD Medical Technologies, Eurocolumbus s.r.l., GE Healthcare, Hologic Inc., Intermedical S.r.l., Medtronic, Philips Healthcare, Shimadzu Corporation, Siemens Healthcare, Simad S.r.l., Stephanix S.A Technix and Ziehm Imaging GMBH.

Market Research on Long-Acting Beta-Agonists Market 2018 and Analysis to 2028

Long-acting beta-agonists or long-acting beta adrenergic receptor agonists are class of drugs used in the management of asthma by relaxing the muscles surrounding the bronchial tubes and facilitating the opening the airways wider. Long-acting beta-agonists have a longer duration of action of at least 12 hours.

Long-Acting Beta-Agonists Market: Drivers and Restraints

The growing demand generated due to increasing incidence of asthma and congestive obstructive pulmonary diseases owing to increasing exposure to risk factors such as growing geriatric and younger population, being overweight, sedentary lifestyles, exposure to allergens and others which is driving a large market. The lower demand for medication owing to the long duration of action of 12 hours in comparison with the 4 to 5 hour duration of short acting beta agonists, making the long-acting beta-agonists ideal candidates for treating nocturnal and chronic asthma.

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According to the Centers for Disease Control and Prevention (CDC), almost 1 in 13 people in the U.S. suffer from asthma representing almost 26 million Americans. In terms of demographics 8.3 percent of adults and 8.3 percent of children suffer from asthma. The CDC also states that asthma is more common in children than adults, with a prevalence of more than 6 million under the age of 18 in the U.S. In clinical terms asthma is responsible for 14.2 million physicians visits, and 1.8 million emergency visits per year in the U.S. and is the third highest ranking cause of hospitalization among children younger than 15 years.

Speaking in economic terms , asthma costs about $3,266 per patient, which includes the cost of health care services, medications, and lost productivity. According to the CDC asthma resulted in $50.3 billion in medical costs to the U.S. from 2008-2013, which is a whopping $81.9 billion in annual economic cost. Thus a large long-acting beta-agonists market is well evident even to an untrained eye. The growing mortality is another driver of the market as in 2015 alone, 3,615 U.S. citizens died from asthma. Technological advancements resulting in product development such as the development of smart inhalers is driving a faster long-acting beta-agonists market adoption.

However, the falling cost of long-acting beta-agonists, competition from alternative drug therapy, and the lower per capita income of the developing world is hampering the long-acting beta-agonists market.

Long-Acting Beta-Agonists Market: Segmentation

To gain a bird’s eye view of the global long-acting beta-agonists market, the report is segmented on the basis of alloys, valve type, and region.

Based on the molecule, the global Long-Acting Beta-Agonists market can be segmented as,

  • Salmeterol
  • Formoterol
  • Arformoterol
  • Others

Based on the formulation, the global Long-Acting Beta-Agonists market can be segmented as,

  • Inhaled
  • Tablet
  • Liquid
  • Injectable

Long-Acting Beta-Agonists Market: Regional Wise Outlook

The global long-acting beta-agonists market can be classified into the following region: North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. North America, led by the U.S., is expected to drive the largest market share owing to the attractive reimbursement healthcare expenditure, and large number of high income patients.

The Asia Pacific long-acting beta-agonists market excluding Japan is projected to expand and dominate the scene in the near future, owing to the growing healthcare and large young population.

China and India are anticipated to account for the major share of the Asia Pacific long-acting beta-agonists market growth. Germany, France and the U.K., are projected to be the largest drivers of the Europe long-acting beta-agonists market. The Middle East and Africa long-acting beta-agonists market is anticipated to be dominated by the gulf economies of Saudi Arabia, Kuwait, UAE and Qatar.

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 Long-Acting Beta-Agonists Market: Market Participants

Some of the major vendors operating in the global long-acting beta-agonists market are Sumitomo Dainippon Pharma Co., Ltd., AstraZeneca plc, GlaxoSmithKline plc, Boehringer Ingelheim International GmbH, Mylan Inc. and others.

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Focused Ultrasound System Market to Witness Steady Growth during the Forecast Period 2018-2028

Focused ultrasound is image guided, non-invasive surgical procedure used for the treatment of brain and various other body parts by targeting the tissues with ultrasonic energy. Various conditions such as Alzheimer’s, uterine fibroids and essential tremor, etc. The focused ultrasound system is generally used for the tissues which are deep inside the body. The non-invasive nature of the focused ultrasound system to treat various conditions is the vital point of traction in the current as well as future prospect of focused ultrasound system market growth. Various manufacturers are investing heavily in the research and development for the focused ultrasound system. For example, INSIGHTEC Ltd. Israel based medical device company currently developing a first of it’s kind focused ultrasound system for treatment of Parkinson’s disease and it is in stage three of clinical trials for the FDA approval.

Focused Ultrasound System Market: Drivers and Restraints

Focused ultrasound system market is majorly driven by the non-invasive and site specific nature of the treatment of various diseases without affecting the surrounding tissues. The treatment with focused ultrasound system requires around 2 to 4 hours only without need of analgesia which in turn further increases patient compliance and ease of treatment procedure fueling the growth of the market. The reduced time or no time of inpatient stay after treatment with focused ultrasound system further decreases the economic burden of treatment and increasing traction of market growth. By coupling the ultrasound with MRI scanner healthcare professionals can actually see the real time visuals of tissues to be treated hence improving preciseness as well as therapeutic outcome. Increasing number of clinical trials and increasing spending on research and development by the focused ultrasound system manufacturing companies further expected to drive the growth of focused ultrasound system market. The performance evaluation of the focused ultrasound system for treatment of different diseases further expected to drive the growth of focused ultrasound system market in near future. Whereas, low product penetration in the middle and low income countries may hamper the potential growth prospect of the focused ultrasound system market.

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Focused Ultrasound System Market: Segmentation

The global focused ultrasound system market is segmented based on the technology, application, end user and region

By technology focused ultrasound system market is segmented as: Ultrasound-Guided, MR-Guided; By application focused ultrasound system market is segmented as: Oncology, Neurosurgery,  Urology, Cosmetics, Other; By end user focused ultrasound system is segmented as: Hospitals, Specialty Clinics, Laboratories.

Focused Ultrasound System Market: Overview

The global focused ultrasound system market is majorly driven by the increasing patient compliance with the non-invasive treatment procedures. By technology, focused ultrasound system market is expected to be dominated by the MR-guided focused ultrasound system segment due to high efficiency as compared to other. By application, focused ultrasound system market is expected to be dominated by the oncology segment due to high number of procedures. By end user, focused ultrasound system market is expected to be dominated by the hospital segment due to high patient footfall for the treatment.

Focused Ultrasound System Market: Regional Outlook

The global market is expected to be North America due to high product penetration and high number of procedures. Europe is expected to be second most lucrative focused ultrasound system market due to higher patient preference for non-invasive treatment. Latin America focused ultrasound system market is expected to experience steady growth due to increasing number of procedures using focused ultrasound system. Asia-Pacific is expected to be the fastest growing focused ultrasound system market due to rapidly improving healthcare infrastructure in the countries such as India and China. Middle East and Africa is expected to be the least lucrative focused ultrasound system market due to low product penetration and lack of proper healthcare infrastructure in majority of the region.

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Focused Ultrasound System Market: Key Players

The key players operating in the global market are: ALPINION MEDICAL SYSTEMS Co., Ltd., INSIGHTEC Ltd., Sonacare Medical, GENERAL ELECTRIC COMPANY, Siemens Ltd., Haifu Medical Technology Co., Ltd., FUS Instruments, MEDSONIC LTD, Mirabilis Medical, Inc., EDAP, and others

Hepatitis B Diagnostic Tests Market is expected to expand at 6.3% CAGR over the estimated period

hepatitis b diagnostic tests market

Future Market Insights presents a new report titled ‘Hepatitis B Diagnostic Tests Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027’ that studies the performance of the global hepatitis B diagnostic tests market over a 10 year assessment period from 2017 to 2027. The report presents the value forecasts of the global hepatitis B diagnostic tests market and provides pertinent insights into the factors driving market growth as well as the factors restricting market growth. As per the figures provided by Future Market Insights, 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 2027 and in the process exhibit a CAGR of 6.3% during the period of forecast 2017-2027.

High Prevalence of Hepatitis B in the APEJ Region Boosting Global Market Revenue Growth

The prevalence of hepatitis B is highest in the APEJ region and the disease burden caused by chronic cases of hepatitis B is enormous. APEJ region has more number of chronic hepatitis B patients than any other region in the world and is thus a potential market for hepatitis B test kit manufacturers. As per the data provided by WHO, China accounts for one-third of all chronic hepatitis B infections. In addition, 6.2% of the adult population in the Western Pacific region is infected with hepatitis B. In the South-East Asia region, an estimated 2% of the general population is infected with hepatitis B. According to Hepatitis Australia, approximately 225,000 people are living with chronic hepatitis B in the country. As per the data provided by WHO, in India, the prevalence of hepatitis B surface antigen is 3%-4.2% with over 40 million hepatitis B carriers. Due to such high prevalence of hepatitis B in the APEJ region, the market for hepatitis B diagnostic tests has a huge potential in the region.

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Global Hepatitis B Diagnostic Tests Market: Segmentation and Forecast

The global hepatitis B diagnostic tests market is segmented on the basis of product type, end user and region.

On the basis of product type, the enzyme immunoassay kits segment was estimated to be valued at nearly US$ 590 Mn in the year 2017 and is likely to reach a valuation of nearly US$ 1,100 Mn in 2027, accounting for a CAGR of 6.2% during the assessment period 2017-2027.

On the basis of end user, the hospitals segment was estimated to be valued at nearly US$ 250 Mn in 2017 and is estimated to reach a valuation of nearly US$ 460 Mn in 2027, registering a CAGR of 6.1% during the period of assessment.

On the basis of region, the APEJ hepatitis B diagnostic tests market was estimated to be valued at nearly US$ 200 Mn in 2017 and is likely to reach a valuation of nearly US$ 380 Mn in 2027, accounting for a CAGR of 7.2% during the period of forecast.

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Global Hepatitis B Diagnostic Tests Market: Competitive Landscape

This report features some of the important players functioning in the global hepatitis B diagnostic tests market such as bioMérieux SA, Bio-Rad Laboratories, Inc., DiaSorin S.p.A., Abbott Laboratories, Meridian Bioscience, Inc., Vista Diagnostics International, Biogate Laboratories Ltd., J.Mitra & Co. Ltd., Siemens Medical Solutions USA, Inc. and General Biologicals Corporation.

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