The global market for Hepatitis B virus antibody diagnostic kits continues to remain influenced with the increasing incidences of Hepatitis B virus worldwide. Growing prevalence of Hepatitis B virus has induced a sense of concern and urgency among individuals across the globe. This has fuelled the demand of early diagnosis kits, in turn pushing the growth in sales of Hepatitis B virus antibody diagnostic kits.
According to WHO, over 257 million individuals worldwide are infected by the Hepatitis B virus annually? In 2015, death count was around 887,000, due to complications such as cirrhosis and hepatocellular carcinoma created by the virus. In 2017, 5% (of the global population) or over 391 million individuals worldwide had developed chronic Hepatitis B virus and additional 145 cases of acute Hepatitis B cases occurred in the same year. Moreover, WHO estimates that death count due to Hepatitis B virus every year is over 750,000 and about 40% (300,000) of these infected individuals die as a result of liver cancer. This aspect has pushed healthcare authorities to adopt various Hepatitis B virus antibody diagnostic kits such as the 48T and 98T in a bid to favor early diagnosis and reduce the mortality rate.
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No cure makes it even more imperative to run diagnosis
No cure for Hepatitis B virus makes it even more dangerous and challenging. Although, the Hepatitis B virus can be prevented and controlled in case of infection. Vaccination for Hepatitis B virus is growing in demand to curb the impact of the infection and reduce mortality rate. This aspect has made it imperative for regulatory authorities to promote diagnosis of the Hepatitis B virus, which in turn is expected to spur the demand for Hepatitis B virus antibody diagnostic kits worldwide.
North America to showcase higher revenue share in the Hepatitis B virus antibody diagnostic kits market, with US steering the cash flow
Sales of Hepatitis B virus antibody diagnostic kits in developed countries of the United States and Canada in North America were soaring high in the recent past and are expected to maintain status quo in the years to follow. Prevalence of Hepatitis B virus cases and acute Hepatitis B cases in the United States continues to grow. This is mainly attributed toward exposure to body fluids or body of infected individuals, reuse of injections, sexual contact with infected persons and unscreened blood transfusion. According to CDC (Centers for Disease Control and Prevention) in 2017, over 3400 new Hepatitis B cases were recorded in the US. In addition, around 850,000 individuals in the United States are infected with Hepatitis B virus and more than 67 percent of these individuals are unaware of the infection. This has resulted in an increased demand for Hepatitis B virus antibody diagnostic kits in the country. Against this backdrop, the US is likely to drive major revenues in the North America Hepatitis B virus antibody diagnostic kits market, ultimately making North America account for a higher share in the global Hepatitis B virus antibody diagnostic kits market.
Global Hepatitis B Virus Core Antibody Diagnostic Kits Market Players are: Shanghai Kehua Bio, Livzon Pharmaceutical Group, Weihai Weigao Biotechnology, Rongsheng, Wantai Biophram, Asintec, Acon, Shenzhen Kang Sheng Bao Bio-Technology, Autobio, Beijing Kewei Clinical Diagnostic Peagents,Henan Lili Biological Engineering,Zhongshan Bio-tech
Demand for Hepatitis B virus antibody diagnostic kits from Asia Pacific likely to increase in the coming years
Prevalence of Hepatitis B virus in countries of Asia Pacific is increasing at a significant pace. Although the situation is critical in emerging economies such as India and China, they are likely to present potential opportunities of growth for manufacturers of Hepatitis B virus antibody diagnostic kits. According to WHO, China accounts for over one-third of chronic Hepatitis B virus infections worldwide. Additionally, over 6 percent of the adult population across the Western Pacific is infected by HBV (Hepatitis B virus) and the count goes to around 2 percent of the population in Southeast Asia. As per analysis of Hepatitis Australia, around 225,000 individuals are infected by chronic Hepatitis B. Likewise, in India WHO says that carriers of Hepatitis B virus are more than 40 million. These statistics are prompting urgency among individuals in preventing the occurrence of the infection, in a bid to reduce the carrier and mortality rate of Hepatitis B virus. This factor continues to fuel the demand for Hepatitis B virus antibody diagnostic kits across the Asia Pacific, paving a potential growth path for players in the market.
Rising incidences coupled with the fact of “no cure for HBV” has influenced the early diagnosis of the Hepatitis B virus. Rising awareness complemented by the growing government initiatives and non-profit organizations in re-defining new diagnosis guidelines for the virus is expected to fuel the growth of the global Hepatitis B virus antibody diagnostic kits market. Moreover, growing penetration of point-of-care diagnostics, particularly in developed countries, is also expected to boost the demand for Hepatitis B virus antibody diagnostic kits and players in the market can expect a steady stream of opportunities in the years to follow.
KEY QUESTIONS ANSWERED IN THE REPORT
- What is the market size and growth rate of the global and regional markets by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market during the forecast period?
- What factors are anticipated to impact demand and supply trends in the market during the forecast period?
- What factors are likely to drive market revenue growth during the forecast period?
- What are the key technology and other trends shaping the market?
- What are the key opportunities in the market?
- What are some of the strategies implemented by key companies operating in the market?
- What is the COVID-19 impact on the market?