Virology Testing Market to Experience Healthy Growth of 7717.51 Million with CAGR of 8.20% by 2029, Size, Share, Trend and Future Demand Outlook

The main driving factors will be the rising incidence of viral infections, the appearance of novel pathogens, and an increase in the number of product approvals. For instance, the World Health Organization (WHO) estimates that in 2021, infectious diseases affected 60% of the world's population

| Source: Data Bridge Market Research Data Bridge Market Research

WASHINGTON, Sept. 20, 2022 (GLOBE NEWSWIRE) -- Data Bridge Market Research has just released its extensive report on the "Global Virology Testing Market" which details the industry's past, present, and future in terms of both products and marketing. They also detail current and projected market trends, sales and distribution channels, and technological and economic developments. Virology Testing Market survey document helps identify the latest growths, market shares, and policies employed by the major market players. In addition, this market study affirms the leading players across the globe in the Virology Testing Market and their key marketing dispositions and advertising enterprise have been highlighted to offer a clear understanding of the market.

Data Bridge Market Research analyses that the Virology Testing Market which was USD 4,108.27 million in 2021, would rocket up to USD 7717.51 million by 2029, and is expected to undergo a CAGR of 8.20% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

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Industry Insights:-

Testing for viruses includes diagnostic techniques that aid in the early detection of illnesses such as hepatitis, influenza, HIV, sexually transmitted diseases, RCV, and other viruses-related diseases. Virology testing looks for the presence of viral antigens, nucleic acids, and antibodies in the provided sample. There have been identified more than 100 viral illnesses.

The virology testing market is expected to grow at a significant growth rate. The new advanced molecular-based virology testing methods, such as immunoassay, mass spectrometry-based detection methods, nucleic acid-based amplification testing methods, and next-generation genome sequencing methods, are precise, quick, and provide the result for various viral infections.

REPORT METRIC

  • Forecast Period - 2022 to 2029
  • Base Year – 2021
  • Historic Years - 2020 (Customizable to 2014 - 2019)

Opportunities

  • Increased healthcare spending

The rapid adoption of cutting-edge diagnostic and testing techniques, increased healthcare spending, the existence of supportive government policies, and the presence of cutting-edge clinical laboratories and manufacturing businesses have all contributed to the region's market's robust growth over the years. An important reason for the market's expansion is the rise in R&D efforts from public and commercial organizations in the United States.

Some of the major players operating in the virology testing market are:-

  • F. Hoffmann-La Roche Ltd (Switzerland)
  • Agilent Technologies, Inc. (U.S.)
  • Thermo Fisher Scientific Inc. (U.S.)
  • QIAGEN (Germany)
  • Lonza (Switzerland)
  • Sigma-Aldrich Co. (U.S.)
  • Wuxi AppTec (China)
  • Merck & Co. Inc. (U.S.)
  • Eurofins Scientific (Luxembourg)
  • General Electric (U.S.)
  • Danaher (U.S.)
  • Sartorius AG (Germany)
  • Bio-Rad Laboratories, Inc. (U.S.)
  • BD (U.S.)
  • Biospherix, Ltd (U.S.)
  • Novogene Co Ltd. (China)

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Recent Development

  • In May 2021, In collaboration with Ubio Biotechnology Systems Pvt. Ltd., Cipla Limited introduced "ViraGen" as a polymerase chain reaction (COVID-19 RT-PCR) test for COVID-19 in India.
  • In May 2022, QuantuMDx Group Limited announced the release of Q-POC SARS-CoV-2, Flu A/B & RSV Assay, a novel respiratory panel test. Rapid point-of-care testing is offered to customers through the Q-POC platform and its multiplex capabilities in clinical and non-clinical contexts.
  • In January 2022, A brand-new, extremely sensitive SARS-CoV-2 Rapid Antigen Test -AQ+ Covid-19 Ag Rapid Test for usage by professionals was introduced by InTec. The AQ+ Covid-19 Ag Rapid Test is designed to be used by laypeople or medical professionals to quickly and easily detect Covid-19.

Key Pointers Covered in This Market Research Report:

  • Market Size
  • Market New Sales Volumes
  • Market Replacement Sales Volumes
  • Introduced Base
  • Market By Brands
  • Market Procedure Volumes
  • Market Product Price Analysis
  • Market Healthcare Outcomes
  • Market Cost of Care Analysis
  • Administrative Framework and Changes
  • Costs and Reimbursement Analysis
  • Pieces of the pie in Different Regions
  • Ongoing Developments for Market Competitors
  • Market Upcoming Applications
  • Market Innovators Study

Key Industry Drivers Covered In this Report:-

  • Rising number of patients with STDs

In the forecast period of 2022–2029, factors such as the rising number of patients with STDs, STD-related illnesses, and other viruses, as well as the availability of immune suppressive drugs and the rising number of technological advancements in the healthcare industry, are likely to boost the growth of the virology testing market. However, the development of molecular diagnostic technologies will create a number of new chances for the virology testing market to expand during the forecast period.

  • Rising incidence of viral infections

The main driving factors will be the rising incidence of viral infections, the appearance of novel pathogens, and an increase in the number of product approvals. For instance, the World Health Organization (WHO) estimates that in 2021, infectious diseases affected 60% of the world's population. The demand for virology testing has increased due to the rising prevalence of viral illnesses such as human immunodeficiency virus (HIV), influenza, Ebola, Zika virus, and other sexually transmitted diseases.

Restraints/Challenges

  • Stringent regulations regarding product development and approvals

On the other hand, the stringent approval processes along with side effects of drugs and other treatment options will obstruct the market's growth rate. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the virology testing market.

This virology testing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the virology testing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

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Segmentation Overview: - Virology Testing Market

By Procedure

  • Cell Culture Method
  • Specific Antibodies Detection
  • Antigen Detection
  • Virus Nucleic Acid Detection
  • Gene Sequencing
  • Hemagglutination Assays

By Diagnosis Test

  • Hepatitis B
  • Hepatitis C
  • HIV
  • Human Papillomavirus (HPV)
  • Other Tests

By Method

  • Immunoprophylaxis
  • Active Prophylaxis (Vaccines)
  • Passive Prophylaxis
  • Antiviral Chemotherapy
  • Interferon's (Cytokines)

 By Application

  • Skin and Soft Tissue Infections
  • Respiratory Tract Infections
  • GI Tract Infections
  • Urinary Tract Infection
  • Eye Infections
  • Sexually Transmitted Diseases
  • Perinatal Infections

By End User

  • Hospitals
  • Clinics
  • Laboratories
  • Diagnostic Centers
  • Blood Banks
  • Pharmacies

Virology Testing Market Regional Analysis/Insights

The virology testing market is analysed and market size insights and trends are provided by country, procedure, diagnosis test, method, application and end user as referenced above.

The countries covered in the virology testing market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the virology testing market due to the technological advancement in portable diagnostics.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to advanced infrastructure development.

TABLE OF CONTENTS

Part 01: Executive Summary

Part 02: Scope Of The Report

Part 03: Research Methodology

Part 04: Market Landscape

Part 05: Pipeline Analysis

Part 06: Market Sizing

Part 07: Five Forces Analysis

Part 08: Market Segmentation

Part 09: Customer Landscape

Part 10: Regional Landscape

Part 11: Decision Framework

Part 12: Drivers And Challenges

Part 13: Market Trends

Part 14: Vendor Landscape

Part 15: Vendor Analysis

Part 16: Appendix

To Check the Complete Table Of Content Click Here @ https://www.databridgemarketresearch.com/toc/?dbmr=global-virology-testing-market

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