Healthcare

Virology Testing Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Virology Testing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Virology Testing Global Market Report 2024, The virology testing market size has grown strongly in recent years. It will grow from $5.05 billion in 2023 to $5.53 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed to emergence of new and complex viruses, increase in infectious disease outbreaks, expansion of healthcare infrastructure, growing awareness of the importance of early virus detection, expansion of point-of-care virology testing options

The virology testing market size is expected to see strong growth in the next few years. It will grow to $7.95 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to adoption of next-generation sequencing in virology, impact of climate change on the spread of vector-borne viruses, rise of mobile and at-home virology testing solutions, adoption of digital pathology in virology diagnostics, increasing use of big data analytics for virology surveillance. Major trends in the forecast period include technological advancements in molecular diagnostics, integration of artificial intelligence in virology testing, development of innovative biomarkers for virus detection, development of novel antiviral therapies and treatments, emphasis on sustainable and eco-friendly testing methods.

The rising incidence of viral infections is expected to propel the growth of the virology testing market going forward. Viral infections are infectious diseases caused by viruses, microscopic infectious agents composed of genetic material (DNA or RNA) surrounded by a protein coat. Virology testing is essential for accurate diagnosis, surveillance, research, and public health preparedness. It enables the identification of viral pathogens, guides treatment strategies, tracks the spread of infections, and supports the development of new interventions. The increasing demand for virology testing stems from the need to manage viral infections and mitigate their impact effectively. For instance, according to the Texas Department of State Health Services, a US-based state agency of Texas, the number of reported varicella cases in Texas increased from 354 in 2021 to 348 in 2020. Therefore, the rising incidence of viral infections is driving the growth of the virology testing market.

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The virology testing market covered in this report is segmented –

1) By Type: Instruments, Assay Kits And Consumables

2) By Diagnostic Technique: Molecular Diagnostics Method, Immunoassay Based Method, Mass Spectroscopy Based Method, Other Techniques

3) By Application: Skin And Soft Tissue Infections, Respiratory Tract Infections, Gastrointestinal Tract Infections, Urinary Tract Infection, Eye Infections, Sexually Transmitted Diseases, Perinatal Infections

4) By End User: Hospitals, Clinics, Laboratories, Diagnostic Centers, Blood Banks, Pharmacies

Product innovation is a key trend gaining popularity in the virology testing market. Major companies operating in the virology testing market are innovating new products to sustain their position in the market. For instance, in November 2022, Sentinel CH. SpA, an Italy-based medical equipment manufacturing company, launched the SENTiNAT 200, a fully automated sample-to-result system, along with the STAT-NAT SN200 Real-Time PCR assays for quantitatively detecting ten viruses. The SENTiNAT 200 platform combines DNA and RNA extraction, PCR setup, and amplification and integrates two thermal cyclers and the FastFinder analysis software. It offers high throughput, automation, and flexibility for mid to large-throughput laboratories involved in viral infection diagnosis. The intuitive software and barcode reader reduce human error, while cloud-based data access allows for optimized reporting time and result control.

The virology testing market report table of contents includes: