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Market Overview

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The Global Virology Testing Market is projected to experience growth from USD 12,790 million in 2023 to USD 13,963 million by 2028, at a Compound Annual Growth Rate (CAGR) of 1.77% during the forecast period from 2023 to 2028.

Virology testing encompasses various diagnostic techniques used to identify viruses. These techniques include cell culture methods, specific antibody detection, antigen detection, virus nucleic acid detection, gene sequencing, and hemagglutination assays.

During the COVID-19 pandemic, the virology testing market is expected to witness growth due to the increasing number of COVID-19 cases worldwide and the emergence of newer viral strains. The impact of COVID-19 prompted several companies to launch diagnostic tests for the virus, leading to lucrative opportunities in the virology testing market. According to the World Health Organization (WHO), in 2022, the number of new COVID-19 cases worldwide increased by 5%. Market players utilized this opportunity to expand their product lines and gain market share by providing diagnostic tests and kits. For example, Stanford Medicine processed its 1 millionth COVID-19 PCR test in February 2022, making it one of the first academic medical centers in the United States to receive emergency use authorization from the Food and Drug Administration for its coronavirus PCR test. Additionally, collaborations between industry players and government bodies, such as the agreement signed by the United States government to purchase rapid COVID-19 tests for high-risk populations, are expected to drive market growth during the pandemic phase.

Furthermore, the increasing prevalence of viral diseases, the emergence of new pathogens, and a rise in product approvals are anticipated to be major driving factors in the coming years. According to the World Health Organization (WHO), in 2021, 60% of the global population was affected by infectious diseases. The rising incidence of viral diseases like HIV, influenza, Ebola, Zika virus, and other sexually transmitted diseases has led to a growing demand for virology testing to facilitate effective diagnosis. For instance, since the beginning of the HIV epidemic, 79.3 million people have been infected, and 36.3 million have died due to HIV, as reported by the WHO. Additionally, the Food and Agriculture Organization (FAO) reported 13 new cases of avian influenza in China and 5 cases in the United Kingdom in January 2022.

Furthermore, the WHO reported 3,481 cases of Ebola worldwide in 2021. The organization also highlighted that prior to the pandemic, over 1 million sexually transmitted infections (STIs) were being acquired daily, resulting in severe outcomes, including 200,000 stillbirths and newborn deaths linked to STIs annually.

Consequently, the increasing prevalence of such diseases and the emergence of new viral infections are expected to drive the demand for virology testing kits and instruments, thereby boosting the growth of the virology testing market. However, stringent regulations pertaining to product approvals may pose challenges and potentially hinder market growth during the forecast period.

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Market Segmentation

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The market is segmented based on various factors, including type, diagnostic technique, end user, and geography.

Segmentation by Type
Instruments
Assay Kits and Consumables

Segmentation by Diagnostic Technique
Molecular Diagnostics Method – PCR-based methods, NGS-based methods
Immunoassay-based Method
Mass Spectroscopy-based Method
Others

Segmentation by End User
Hospitals and Clinics
Diagnostic Laboratories
Others

Segmentation by Geography
North America – United States, Canada, Mexico
Europe – United Kingdom, Germany, France, Italy, Spain, and Rest of Europe
Asia-Pacific – China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific
Latin America – Brazil, Argentina, and Rest of Latin America
Middle East and Africa – GCC, South Africa, and Rest of Middle East and Africa

The PCR-based molecular diagnostic methods segment is anticipated to capture a substantial market share during the analysis period. PCR methods are widely employed for pathogen detection, including viruses, and have become integral to clinical and diagnostic research. Over the years, PCR has significantly improved diagnostic viral testing by reducing diagnosis time and enhancing result accuracy and specificity, thus fueling the growth of this segment.

Furthermore, the COVID-19 pandemic has had a significant impact on the segment’s growth. As authorities have not recommended specific viral culture tests, RT-PCR has become the preferred diagnostic method for COVID-19 testing among symptomatic individuals. Pharmaceutical and biotechnological companies are actively engaged in research and development efforts to identify new molecules for COVID-19 treatment. Notably, examples of such initiatives include the launch of ViraGen, a polymerase chain reaction (COVID-19 RT-PCR) test for COVID-19 in India by Cipla Limited in partnership with Ubio Biotechnology Systems Pvt. Ltd., and the development of a portable PCR molecular assay for monkeypox virus detection by Anitoa, a United States-based start-up company, using an extraction-free multiplex reagent to check gene targets of the orthopoxvirus and monkeypox viruses in skin lesion samples.

Considering these factors, the PCR-based molecular diagnostic methods segment is expected to experience growth during the analysis period.

The regional market has witnessed robust growth, primarily due to the rapid adoption of advanced diagnostic and testing methods, increased healthcare spending, favorable government policies, and the presence of advanced clinical laboratories and manufacturing companies. Additionally, the United States’ substantial R&D activities from both public and private organizations have contributed significantly to market growth. For instance, Quidel Corporation, a provider of rapid diagnostic testing solutions and molecular diagnostic systems, has actively evaluated COVID-19 mutations to ensure its antigen tests continue to detect COVID-19 variants such as Omicron.

Moreover, the surge in various viral infections in the United States, such as influenza and HIV, has further driven the demand for diagnosis and testing, thus stimulating growth in the virology testing market across the region. For instance, statistics published by HIV.gov in June 2021 indicated approximately 1.2 million people in the United States living with HIV. Additionally, the CDC reported in May 2022 that 30,635 people in the United States and dependent territories acquired an HIV diagnosis in 2020.

With these factors in play, the virology testing market in the region is expected to witness continued growth throughout the forecast period.

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Competitive Landscape

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The virology testing market exhibits a fragmented nature and comprises numerous major players. Presently, a select few of these major players hold significant market share, dominating the industry. Among the companies presently operating in this market are F. Hoffmann-La Roche AG, Bio-Rad Laboratories Inc., Hologic Inc., Abbott Laboratories, Fujirebio Diagnostics Inc., Thermo Fisher Scientific Inc., Cepheid, bioMerieux SA, Qiagen, Diasorin, Siemens Healthineers, Trinity Biotech, Vircell, and several others.

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Recent Industry Developments

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In May 2022, QuantuMDx Group Limited made an announcement regarding the introduction of its latest respiratory panel test called Q-POC SARS-CoV-2, Flu A/B & RSV Assay. This new test is designed to run on the Q-POC platform, which offers customers rapid point-of-care testing capabilities in both clinical and non-clinical settings, thus providing efficient and convenient testing solutions.

In January 2022, InTec launched a novel ultra-sensitive SARS-CoV-2 Rapid Antigen Test known as the AQ+ Covid-19 Ag Rapid Test. This test is specifically intended for professional use and has been designed to enable healthcare professionals or laypersons to quickly and conveniently detect Covid-19, offering a valuable tool in the ongoing efforts to combat the pandemic.

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Key Questions Answered

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What is the study period of the Global Virology Testing Market?
The study of the Global Virology Testing Market spans from 2018 to 2028.

What is the growth rate of the Global Virology Testing Market?
The Global Virology Testing Market is experiencing a growth rate of 1.77% over the next five years.

What is the size of the Global Virology Testing Market?
The Global Virology Testing Market is projected to reach USD 12,790 million in 2023 and is anticipated to grow at a CAGR of 1.77% to attain USD 13,963 million by 2028.

Which region exhibits the highest growth rate in the Global Virology Testing Market?
The Asia-Pacific region shows the highest CAGR growth over the period from 2018 to 2028.

Which region holds the largest share in the Global Virology Testing Market?
North America holds the highest market share in the Global Virology Testing Market as of 2021.

Who are the key players in the Global Virology Testing Market?
The major companies operating in the Global Virology Testing Market include F. Hoffmann-La Roche AG, Bio-Rad Laboratories Inc, Hologic Inc., Thermo Fisher Scientific Inc., and Abbott Laboratories.