Viral Hepatitis and Retrovirus Diagnostic Tests Market Size, Share, Growth, and Industry Growth, By Type (Viral Hepatitis Diagnostic Tests, Retrovirus Diagnostic Tests and Others.) By Application (Hospitals, Clinics, Home Nursing and Others), Regional Forecast By 2031

Updated On: 15 April 2024

Viral Hepatitis and Retrovirus Diagnostic Tests Market Report Overview

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The global viral hepatitis and retrovirus diagnostic tests market size is USD 3915.5 million in 2022. As per our research, the market is projected to touch USD 7460.99 million by 2031, exhibiting a CAGR of 7.4% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the viral hepatitis and retrovirus diagnostic tests market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributed to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Viral hepatitis is an inflammation of the liver caused by a viral infection. It might manifest as an acute infection with a relatively quick start or as a persistent infection. The five unrelated hepatotropic viruses hepatitis A, B, C, D, and E are the most common causes of viral hepatitis. Other viruses, such as cytomegalovirus, Epstein-Barr virus, and yellow fever, can also induce liver inflammation. There have also been numerous cases of viral hepatitis caused by the herpes simplex virus. A retrovirus is a type of virus that inserts a DNA copy of its RNA genome into the DNA of the host cell that it infects, altering the genome of that cell. Many major veterinary infections are retroviruses, as are two recently found human pathogens, the causal agents of acquired immunodeficiency syndrome (AIDS) and adult T cell leukaemia/lymphoma.

COVID-19 Impact: The COVID-19 Underlying Condition Crumbled Down the Market Growth

Because of the diverted resources and attention of the healthcare sector, the COVID-19 have jeopardised the national elimination plan for viral hepatitis and retroviruses. Furthermore, due to COVID-19 funding, the government funding in hepatitis cases decreased, which affected the number of people opting for hepatitis and retrovirus diagnostic and treatment. Furthermore, the pandemic reduced patient visits to hospitals, which hampered the growth of the viral hepatitis and retrovirus diagnostic tests markets.

LATEST TRENDS

"Rising Prevalence Making Amends with the R&D Activities to Soar Up the Market Share"

The factors that are driving the market share for viral hepatitis and retrovirus diagnostic tests are the rise in viral hepatitis prevalence, the rise in public awareness and its diagnosis, and the rise in R&D activities in the diagnostic industry. These factors create a favourable atmosphere for an increase in product sales as well as for the expansion of the market as a whole.

Viral Hepatitis and Retrovirus Diagnostic Tests Market Segmentation

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• By Type

Based on type the viral hepatitis and retrovirus diagnostic tests market is classified into  blood pressure monitors, blood glucose monitors, pulse oximeters, peak flow meters, heart rate monitors, fetal monitoring devices and others.

The blood pressure monitors is the leading part of the type segment in the market.

• By Application

Based on application the viral hepatitis and retrovirus diagnostic tests market is classified as rehabilitation, infusion therapy, unskilled care, respiratory therapy and others"."

The rehabilitation accounted for the leading application in the market.

DRIVING FACTORS

"The Geriatric Population and the Increase in Infectious Diseases to Enhance the Market Growth"

The main drivers of the market are the increased prevalence of chronic diseases as a result of lifestyle modifications, the growing preference for remote and viral hepatitis and retrovirus diagnostic tests, and the accessibility and mobility of testing facilities. Improved patient accountability, chronic illness management, and other advantages of remote patient monitoring are propelling its widespread adoption and, as a result, supporting market expansion. Additionally, the demand for advanced patient monitoring devices is anticipated to increase throughout the projection period due to the ageing population, which is more susceptible to infections. India had 138 million senior citizens in 2021, and by 2031, this number is expected to increase to about 56 million. As a result, it is anticipated that the market for viral hepatitis and retrovirus diagnostic tests will be driven by the ageing population as well as an increase in different illnesses.

"Poor Sanitation Leading to Fecal Contamination of Food and Water to Reinforce the Market Growth"

In low-resource nations with poor sanitation that results in faecal contamination of food and water supplies, viral hepatitis is a disease that is hyperendemic. The main reason for this illness is mainly poor sanitation in developing and undeveloped nations, which are also the main hotspots for the spread of diseases like hepatitis, retrovirus, and others. This causes the number of hepatitis infection cases to increase, which in turn increases the demand for viral hepatitis and retrovirus diagnostic tests over the anticipated period.

RESTRAINING FACTORS

"The Expensiveness of the Tests and Lack of Understandings to Hamper the Market Share"

The market is being constrained by worries over the expensiveness of the tests. Despite the numerous benefits provided, the high cost of testing technology is likely to stifle market expansion for viral hepatitis and retrovirus diagnostic tests over the projection period. However, development barriers include a lack of understanding about the benefits of real-time health monitoring equipment and a reluctance to disclose data about one's health, among other things.

Viral Hepatitis and Retrovirus Diagnostic Tests Market Regional Insights

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"Asia Pacific Region to Rule Out With the Prevalence Various of Chronic Diseases and Advanced Diagnostic Tests"

Due to the high prevalence of numerous infectious diseases in this region, Asia-Pacific, which already held a sizable viral hepatitis and retrovirus diagnostic tests market share in 2021, is anticipated to see the highest CAGR in the forecasted period for the viral hepatitis and retrovirus diagnostic tests market. As a result, sales of diagnostic kits climb, increasing this region's revenue share. Additionally, some of the factors driving regional growth include the increasing frequency of chronic conditions and the presence of advanced technology. Furthermore, prominent market players such as AOV, Amkay, Bhat Bio Tech, Bioneovan are investing in research and development for more advanced patient monitoring device facilities, which will drive the viral hepatitis and retrovirus diagnostic tests market growth.

KEY INDUSTRY PLAYERS

"Prominent Manufacturers to Contribute Towards Expansion of Market"

The report is an extensive research which presents the historic and futuristic performance of industry with competitive landscape analysis which incorporates prominent key players ,and revenue trends of industry. The report provides substantial analysis of company profiling, growth insights, supply-demand chain, production and consumption demand, business expansion strategies adopted by top key players. The information is a collusion of latest technological developments, trends, production lines mergers and acquisitions, market study and other factors.

List of Market Players Profiled

• Abbott Diagnostics (U.S.A)
• Abbott (U.S.A)
• Chembio (U.S.A)
• DiaSorin (Italy)
• Roche Diagnostics (Switzerland)
• Amkay Products (India)
• AOV International (India)
• Apothecaries Sundries Manufacturing (India)
• Beckman Coulter (U.S.A)
• BD (U.S.A)
• Bhat Bio-tech (India)
• BioMerieux (U.S.A)
• Bioneovan (China)
• Bio-Rad (U.S.A)
• Cepheid (U.S.A)
• Enzo Biochem (U.S.A)
• Fujirebio (Japan)
• Gemc Technology (China)
• Grifols (Spain)
• Hangzhou Deangel Biological Engineering (China)
• Hangzhou Heo Bio-Tech (China)
• Hologic (Canada)
• Horiba (Japan)
• Innovation Biotech (India)
• Jaksh Enterprises(India)
• Krishco Medical Products (India).

REPORT COVERAGE

The report anticipates a detailed analysis of the global market size at the regional and national level, the segmentation market growth and market share. The prime objective of the report is to help user understand the market in terms of definition, market potential, influencing trends, and the challenges faced by the market. Analysis of sales, the impact of the market players,  recent developments, opportunity analysis, strategic market growth analysis, territorial market expansion, and technological innovations are the subject matter explained in the report.