14 Sep 2021
Posted in Medical Devices
Australia Hepatitis B Tests market to grow at 2% CAGR through 2025, forecasts GlobalData
The Hepatitis B testing market in Australia is expected to grow at a compound annual growth rate (CAGR) of 2% between 2020 and 2025, driven by increase in live birth rates, sperm donations and source plasma donations, forecasts GlobalData, a leading data and analytics company.
GlobalData’s latest report, ‘Hepatitis B Tests (In Vitro Diagnostics) – Global Market Analysis and Forecast Model (COVID-19 Market Impact)’, reveals that HBV NAAT Tests accounted for more than 65% of the Australian Hepatitis B Tests market in 2020.
Siemens Healthineers AG, Roche Diagnostics International Ltd and Abbott Laboratories are the leading players in Australia, accounting for more than 90% of the Hepatitis B Tests in 2020.
Minith Kumar, Medical Devices Analyst at GlobalData, comments: “The prevalent cases of chronic hepatitis B (CHB) in Australia have increased over the past decade, mainly due to increased migration from endemic areas such as the Asia-Pacific region, drugs usage with shared needles, and unprotected sex.”
GlobalData expects that the number of hepatitis B prevalent cases will increase, leading to a greater number of hepatitis B tests performed for monitoring purposes.
Mr. Kumar concludes: “The Hepatitis B tests market in Australia is expected to increase during the forecast period as both diagnosis and prognosis are essential in hepatitis B treatment. Targeted Hepatitis B testing can help improve detection rates and avert increase in adverse outcomes of CHB, such as liver cancer. This can also help in lowering the overall healthcare costs”