The ”Germany hepatitis C testing“ market is set to gain traction from the rising initiatives taken by the government of this country to eliminate the occurrences of the disease. In August 2020, BMJ Open, for instance, published that Germany is likely to showcase a surge of 70% in the hepatitis C diagnosis rates by 2030. This information is given by Fortune Business Insights™ in a new study, titled, “Germany Hepatitis C Testing Market, 2020-2027.” The study further mentions that the market size is projected to grow from USD 80.1 million in 2020 to USD 121.4 million in 2027 at a CAGR of 6.1% in the 2020-2027 period. It stood at USD 106.8 million in 2019.
Increasing Usage of Resources in COVID-19 Testing to Affect Growth Severely
The COVID-19 pandemic is anticipated to severely impact the market for Germany hepatitis C testing because of stringent nationwide lockdown implemented by the government of this country. Also, the increasing usage of resources required for hepatitis C testing was extensively utilized for managing the transmission of coronavirus. We are offering unique research reports to help you come out of this grave situation by adopting numerous strategies.
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COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations travel bans and quarantines restaurants closed all indoor events restricted over forty countries state of emergency declared massive slowing of the IT Spending market volatility falling business confidence, growing panic among the population, and uncertainty about future.
Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers & acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
The market for Germany hepatitis C testing comprises regulatory raw material suppliers, firms, and processors present in the supply network. Our analysts have used both primary and secondary research methods to obtain quantitative and qualitative data about the demand and supply sides. They have also analyzed competitive developments, such as agreements, new product launches, partnerships, joint ventures, and mergers & acquisitions. Lastly, the report includes profiles of the renowned players and the strategies adopted by them to compete with rivals.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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Rising Number of Drug Abusers in Germany to Accelerate Growth
The surging prevalence of hepatitis C among the masses in Germany is set to contribute to growth. Besides, the rising influx of migrants in the country is also another factor that would augment the Germany hepatitis C testing market growth in the upcoming years. Coupled with this, the rising number of drug abusers would spur the demand for hepatitis C testing kits in Germany. However, the absence of a nationwide testing program may hinder growth.
Screening of General Population for HVC Antibodies to Boost HCV Serologic Tests Segment
By application, the market is segregated into PCR and ELISA. Based on the end-user, it is fragmented into diagnostics labs, hospitals, and others. Based on test types, it is trifurcated into HCV genotype tests, HCV RNA tests, and HCV serologic tests (HCV Ab). Amongst these, the HCV serologic tests (HCV Ab) segment is expected to dominate in the forthcoming years by procuring the largest Germany hepatitis C testing market share. The urgent need to screen vulnerable and general population for HCV antibodies is likely to propel the segment, thereby driving the demand for hepatitis C testing in Germany. On the other hand, the HCV RNA tests segment generated 6.1% in terms of share in 2019.