Virology Testing Global Market Report 2024

Virology testing involves the diagnosis of viral infections by detecting the presence of viruses or specific viral components in biological samples such as blood, saliva, or tissue. These tests play a crucial role in identifying, monitoring, and controlling viral diseases.

The primary categories of virology testing include instruments, assay kits, and consumables. In the context of virology testing, instruments refer to specialized equipment and devices used for conducting various diagnostic tests and procedures. These tests utilize methods such as molecular diagnostics, immunoassays, mass spectrometry, and other techniques. Virology testing is applied in diverse areas, including the diagnosis of skin and soft tissue infections, respiratory tract infections, gastrointestinal tract infections, urinary tract infections, eye infections, sexually transmitted diseases, and perinatal infections. The end-users of virology testing include hospitals, clinics, laboratories, diagnostic centers, blood banks, and pharmacies.

The virology testing research report is one of a series of new reports from The Business Research Company that provides virology testing market statistics, including the virology testing industry's global market size, regional shares, competitors with virology testing market share, detailed virology testing market segments, market trends and opportunities, and any further data you may need to thrive in the virology testing industry. This virology testing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

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 historical period can be ascribed to the emergence of novel and intricate viruses, the rise in outbreaks of infectious diseases, the expansion of healthcare infrastructure, increasing awareness regarding the significance of early virus detection, and the widening availability 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 the adoption of next-generation sequencing in virology, the impact of climate change on the spread of vector-borne viruses, the rise of mobile and at-home virology testing solutions, the adoption of digital pathology in virology diagnostics, and the increasing use of big data analytics for virology surveillance. Major trends in the forecast period include technological advancements in molecular diagnostics, the integration of artificial intelligence in virology testing, the development of innovative biomarkers for virus detection, the development of novel antiviral therapies and treatments, and an emphasis on sustainable and eco-friendly testing methods.

The increasing incidence of viral infections is anticipated to drive the growth of the virology testing market in the future. Viral infections are caused by microscopic infectious agents known as viruses, consisting of genetic material (DNA or RNA) surrounded by a protein coat. Virology testing plays a crucial role in accurate diagnosis, surveillance, research, and public health preparedness. It facilitates the identification of viral pathogens, guides treatment strategies, monitors the spread of infections, and supports the development of new interventions. The growing demand for virology testing is driven by the necessity to effectively manage viral infections and mitigate their impact. For example, as reported by the Texas Department of State Health Services, the number of varicella cases in Texas increased from 348 in 2020 to 354 in 2021. Hence, the rising incidence of viral infections is a key factor propelling the growth of the virology testing market.

The increase in healthcare expenditures is poised to contribute to the growth of the virology testing market in the future. Healthcare expenditures encompass all costs associated with providing health services, family planning activities, nutrition programs, and emergency assistance, with a primary focus on health. In virology testing, healthcare expenditures are essential for ensuring accurate diagnosis, monitoring, and containment of viral infections, thereby safeguarding public health and individual well-being. According to the Centers for Medicare & Medicaid Services, in December 2023, US healthcare spending witnessed a 4.1% increase in 2022, reaching $4.5 trillion, equivalent to $13,493 per person. Health spending accounted for 17.3% of the country's gross domestic product. Consequently, the rise in healthcare expenditures is a significant driver for the growth of the virology testing market.

Product innovation stands out as a prominent trend gaining traction in the virology testing market. Major players in the virology testing sector are actively introducing novel products to maintain their market positions. For instance, in November 2022, Italy-based medical equipment manufacturer Sentinel CH. SpA unveiled the SENTiNAT 200, a fully automated sample-to-result system, accompanied by the STAT-NAT SN200 Real-Time PCR assays capable of quantitatively detecting ten viruses. The SENTiNAT 200 platform integrates DNA and RNA extraction, PCR setup, and amplification, featuring two thermal cyclers and the FastFinder analysis software. Geared towards mid to large-throughput laboratories involved in viral infection diagnosis, the platform offers high throughput, automation, and flexibility. The user-friendly software, coupled with a barcode reader, reduces human error, and cloud-based data access optimizes reporting time and result control.

Major players in the virology testing market are directing their efforts toward advanced solutions, such as agar gel precipitation test solutions, to meet the growing demand for accurate diagnostic tools. These advanced solutions are specialized mixtures employed for intricate immunological analyses, specifically designed to detect and characterize antigen-antibody interactions. For instance, in May 2023, US-based biotechnology company Creative Diagnostics launched a new single radial immunodiffusion testing service tailored for the biological industry. This service streamlines the process for researchers to precisely assess the concentration of antigens within samples. Utilizing the well-established agar gel precipitation technique, the service employs antibodies with defined specificity uniformly distributed within the agar gel. By strategically placing samples containing the antigen of interest in wells within the gel, radial diffusion of the antigen occurs, leading to the formation of a distinct precipitate ring. This ring's diameter, accurately measured and referenced against a standard curve, enables the service to determine the antigen concentration, providing researchers with invaluable quantitative data.

In April 2021, UK-based Sotera Health, a provider of laboratory testing and advisory services, acquired BioScience Laboratories for an undisclosed amount. This acquisition enhances Sotera Health's Nelson Labs division's capabilities in antimicrobial and antiviral testing in the United States. It also opens doors for Nelson Labs to enter new markets, delivering significant advantages to medical device and pharmaceutical clients seeking antimicrobial and virology testing. Analytical Lab Group, based in the US, offers clinical laboratory testing services, including antimicrobial and antiviral testing.

Major companies operating in the virology testing market report are Johnson & Johnson Services Inc., F. Hoffmann-La Roche AG, Merck & Co. Inc., Thermo Fisher Scientific Inc., Abbott Laboratories, GlaxoSmithKline plc, Boehringer Ingelheim International GmbH, Siemens Healthineers AG, Eurofins Scientific SE, Agilent Technologies Inc., Grifols S.A., WuXi AppTec Co. Ltd., Hologic Inc., Sartorius AG, bioMerieux SA, Bio-Rad Laboratories Inc., Qiagen NV, Cepheid Inc, Eiken Chemical Co Ltd., DiaSorin SpA, Fujirebio Diagnostics Inc., Microbac Laboratories Inc., Trinity Biotech plc, Diamedix Corporation, Biospherix Ltd, Imquest Biosciences Inc, Novogene Co Ltd., Scienion AG, Vircell SL, Sequenom Inc.

North America was the largest region in the virology testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the virology testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the virology testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The virology testing market consists of revenues earned by entities by providing services such as comprehensive viral screening, virucidal disinfectant efficacy testing, virus research, and testing for infectious disease agents. The market value includes the value of related goods sold by the service provider or included within the service offering. The virology testing market also includes sales of virology test kits, polymerase chain reaction (PCR) instruments, and enzyme-linked immunosorbent assay (ELISA) kits, which are used in providing virology testing services. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Virology Testing Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on virology testing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for virology testing ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The virology testing market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 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
• Companies Mentioned: Johnson & Johnson Services Inc.; F. Hoffmann-La Roche AG; Merck & Co. Inc.; Thermo Fisher Scientific Inc.; Abbott Laboratories
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.