PUBLISHER: The Business Research Company | PRODUCT CODE: 1620159
PUBLISHER: The Business Research Company | PRODUCT CODE: 1620159
Virology and bacteriology are scientific disciplines focused on studying viruses and bacteria, respectively. Virology explores viruses, including their structure, function, and the diseases they cause, while bacteriology investigates bacteria, including their physiology, genetics, and their role in health and disease. These fields contribute to diagnosing infections, developing vaccines and antibiotics, and enhancing our understanding of microbial life and its interactions with humans and other organisms.
In virology and bacteriology, the main products include equipment and reagents. Equipment refers to various instruments and machines used for detecting, analyzing, and studying viruses and bacteria. This category encompasses laboratory devices such as PCR machines, sequencers, microscopes, centrifuges, and incubators. The technologies involved include molecular diagnostics, immunoassays, diagnostic imaging, and information technology, and these products are utilized by various end users including hospitals, diagnostic centers, research laboratories, and blood banks.
The virology and bacteriology market research report is one of a series of new reports from The Business Research Company that provides virology and bacteriology market statistics, including virology and bacteriology industry global market size, regional shares, competitors with an virology and bacteriology market share, detailed virology and bacteriology market segments, market trends, and opportunities, and any further data you may need to thrive in the virology and bacteriology industry. This virology and bacteriology 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 and bacteriology market size has grown strongly in recent years. It will grow from $2.24 billion in 2023 to $2.44 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth observed in the historic period can be attributed to factors such as the rise in global travel, growing demand for rapid diagnostic tests, increasing globalization, expansion in research on zoonotic diseases, and the development of educational programs.
The virology and bacteriology market size is expected to see strong growth in the next few years. It will grow to $3.47 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The anticipated growth during the forecast period can be attributed to factors such as the increasing prevalence of infectious diseases, the expansion of global health infrastructure, a rise in research activities, growing disposable income, and a higher number of aerobic and anaerobic tests. Key trends for this period include technological advancements, personalized medicine, the integration of artificial intelligence, innovations in vaccine technology, and the expansion of telemedicine.
The increasing incidence of infectious diseases is expected to drive growth in the virology and bacteriology market. Infectious diseases are caused by pathogenic microorganisms such as bacteria, viruses, fungi, or parasites that invade and multiply within the body. Common infectious diseases include influenza, tuberculosis (TB), HIV/AIDS, and malaria. The rise in these diseases is attributed to factors such as globalization, urbanization, antimicrobial resistance, and environmental changes. Virology and bacteriology testing are crucial for diagnosing these diseases by identifying the specific pathogens responsible, which allows for targeted treatment and management. For example, the Centers for Disease Control and Prevention reported in November 2023 that TB cases in the US increased by 5.9%, rising from 7,870 cases in 2021 to 8,331 cases in 2022. This increase in infectious disease cases is expected to fuel the growth of the virology and bacteriology market.
Companies in the virology and bacteriology market are focusing on developing innovative products like bacteria detection kits to enhance diagnostic capabilities and address infectious disease challenges. Bacteria detection kits are diagnostic tools used to identify and analyze bacteria in various samples, such as blood, urine, food, or environmental samples. For instance, in December 2023, HiMedia Laboratories LLC, an India-based bioscience company, partnered with NG Biotech, a France-based manufacturer of in vitro diagnostic tools, to launch the NG-Test CARBA 5 kits. These kits are designed to detect carbapenemase-producing bacteria and have been approved by the Central Drugs Standard Control Organization (CDSCO). They feature advanced technology for accurately identifying a wide range of antimicrobial-resistant bacteria and provide rapid, reliable results, which aid in prompt clinical decision-making. The kits are also user-friendly and compatible with multiple sample types.
Additionally, in May 2022, BioMerieux, a France-based company specializing in diagnostic solutions for infectious diseases, acquired Specific Diagnostics for approximately $417 million. This acquisition allows BioMerieux to enhance its diagnostic capabilities by integrating Specific Diagnostics' advanced technology for identifying bacterial pathogens and their antimicrobial resistance profiles. Specific Diagnostics Inc., a US-based company, focuses on rapid antimicrobial susceptibility testing (AST) technology to address antimicrobial resistance.
Major companies operating in the virology and bacteriology market are F. Hoffmann-La Roche AG, Merck KGaA, Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers AG, Becton Dickinson and Company, Laboratory Corporation of America Holdings, Agilent Technologies Inc., Hologic Inc., bioMerieux SA, Bio-Rad Laboratories Inc., Bruker Corporation, Cepheid Inc., Eiken Chemical Co. Ltd., NEOGEN Corporation, Cerba Research, Luminex Corporation, Fujirebio Diagnostics Inc., Trinity Biotech plc, Microbiologics Inc., Bionano Genomics Inc., Scienion GmbH, Quidel Corporation
North America was the largest region in the virology and bacteriology market in 2023. The regions covered in the virology and bacteriology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the virology and bacteriology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The virology and bacteriology market consist of revenues earned by entities by clinical services, public health services, and diagnostic services. The market value includes the value of related goods sold by the service provider or included within the service offering. The virology and bacteriology market also includes sales of laboratory equipment, vaccines, and therapeutic agents. 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 And Bacteriology 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 and bacteriology 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.
Where is the largest and fastest growing market for virology and bacteriology ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The virology and bacteriology 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 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.