Virology Testing Market is Expected to Undergo a CAGR of 8.20% by 2029
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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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.
Virology Testing Market Analysis and Size
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 provides the result for various viral infections.
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.
Some of the major players operating in the virology testing market are:
Hoffmann-La Roche Ltd (Switzerland)
Agilent Technologies, Inc. (U.S.)
Thermo Fisher Scientific Inc. (U.S.)
Sigma-Aldrich Co. (U.S.)
Wuxi AppTec (China)
Merck & Co. Inc. (U.S.)
Eurofins Scientific (Luxembourg)
General Electric (U.S.)
Sartorius AG (Germany)
Bio-Rad Laboratories, Inc. (U.S.)
Biospherix, Ltd (U.S.)
Novogene Co Ltd. (China)
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Key Pointers Covered in This Market Research Report:
Market New Sales Volumes
Market Replacement Sales Volumes
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
Virology Testing Market Dynamics
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.
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 expansin is the rise in R&D efforts from public and commercial organizations in the United States.
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