Germany Hepatitis C Testing Market
Germany Hepatitis C Testing Market to Reach Market Valuation of USD 135.7 Mn by 2028
Published | 20 September 2022
Germany Hepatitis C Testing market is growing at a high CAGR owing to the increasing blood transfusion/donation and the burden of hepatitis. Government awareness programs and initiatives coupled with advanced detection techniques are significant drivers of Germany's Hepatitis C testing market.
A recent study by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Germany Hepatitis C Testing market was worth USD 82.7 million in 2021. The market is projected to grow at a CAGR of 7.9%, earning around USD 135.7 million by the end of 2028. The Germany Hepatitis C Testing market is booming due to the high burden of hepatitis, increasing blood transfusion and donations, and government awareness programs and initiatives on hepatitis. In addition, advanced detection techniques are emerging as a significant driver of market expansion. However, operational barriers associated with the testing act as a restraining factor for the market growth in upcoming years.
The rising number of drug abusers in Germany coupled with advanced detection techniques is spurring the overall market growth in Germany.
Despite substantial advancements in treatment options, immunization coverage, and public awareness, hepatitis remains a major public health concern with a high prevalence rate globally. Hepatitis B and C are the most common and are associated with increased mortality rates due to, among other important causes, the rising drug misuse incidence in Germany. The biotechnology and biopharmaceutical industries have a significant demand for immunoassay instruments and supplies. Therefore, over the projected period, the expansion of biotechnology industries is anticipated to promote the growth of the hepatitis testing market. The expansion of the end-user market in these sectors has prompted numerous players to introduce new products and invest in developing cutting-edge products. As immunoassays are used at numerous phases, from product development and manufacturing to quality control in production, this is a favorable indicator for market growth. Therefore, the availability of such cutting-edge detection methods is fueling the expansion of the German hepatitis C testing industry.
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Operational Barriers Associated with Testing Expected to Hamper the Market Growth
Clinical laboratories are still developing across the major markets, and technicians encounter operational difficulties when assuring efficient sample collection, storage, and transportation—particularly when using cutting-edge technology like NGS and lab-on-a-chip PCR machines. To reduce cross-contamination and ensure effective time management, laboratory space must also be redesigned to fit the needs of performing particular molecular diagnostic procedures required for pathogen detection. This causes the maintenance and operation of modern molecular diagnostic instruments, particularly those able to handle a single sample type, to increase in cost significantly. The aforementioned aspect expected to hamper the market expansion of hepatitis C testing during the forecast period.
The Hospital & Diagnostic Laboratories Sector Will Rule The Market
The hepatitis testing market is divided into hospital, diagnostic, and other end users (academic & government research institutes, nursing homes, and home care settings) based on the end user. The hepatitis testing market's highest share belonged to the hospital & diagnostic laboratories sector. The high volume of hepatitis diagnostic tests performed in hospitals is responsible for a substantial proportion of this market. Thus, the hospital segment will continue to hold a substantial proportion of Germany's hepatitis C testing market in the forecast period. In upcoming years the market growth rate of diagnostic, and other end users (academic & government research institutes, nursing homes, and home care settings) expected to propel at a significant rate.
Impact of COVID-19 on Germany's Hepatitis C Testing Market
An unprecedented global public health emergency, COVID-19 has influenced practically every industry, and its long-term repercussions are expected to impact industry growth throughout the forecast period. Due to fewer hospital visits caused by the COVID-19 outbreak, the market for hepatitis testing suffered. Healthcare systems are under a lot of stress due to the pandemic. To reduce the disease's spread and save money for COVID-19 sufferers, healthcare institutions and clinicians were told to avoid performing elective surgical procedures and physical exams. As a result, the testing volume at numerous clinical laboratories for hepatitis testing rapidly decreased. The trend is change over the post COVID era and industry players adopt various strategies to cope up market barriers.
Key players operating in Germany Hepatitis C Testing Market are Abbott, Roche Diagnostics, Siemens Healthcare, Bio-Rad Laboratories, DiaSorin S.P.A, AbbVie, GlaxoSmithKline, Ever Pharma, Alpen Pharma Group, Amgen, and Other Prominent Players. Abbott leads the market owing to its extensive hepatitis C testing portfolio, which includes both HCV RNA and serological tests.
The report's in-depth analysis provides information about growth potential, upcoming trends, and statistics of the Germany Hepatitis C Testing market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Germany Hepatitis C Testing market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the market's growth drivers, challenges, and competitive dynamics.
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