Global Viral Testing Market – Industry Trends and Forecast to 2029

Global Viral Testing Market, By Tests (Direct Fluorescent Antibody (DFA) Tests, Immunochromatographic Assays, Reverse Transcription Polymerase Chain Reaction (RT-PCR)-Based Tests, Agglutination Assays, Flow-Through Assays, and Solid-Phase Assays), Application (Influenza, Hepatitis, HIV, Measles, Rubella, and Others), End Use (Laboratories, Hospitals, Home Care Settings, and Academic Institutes) – Industry Trends and Forecast to 2029.

Viral Testing Market Analysis and Size

World Health Organization (WHO) estimates that in 2022, new cases of COVID-19 worldwide increased by 5%. By offering diagnostic tests and kits, the market participants seized the chance to diversify their product offerings and increase their market share significantly. Stanford Medicine processed its one millionth COVID-19 PCR test in February 2022, according to an article titled "At clinical virology lab, 1 million COVID-19 tests and counting" that was published in February 2022.

Data Bridge Market Research analyses that the viral testing market which is expected to grow at a healthy CAGR 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.

Viral Testing Market Scope and Segmentation      

Market Definition

The method of finding viruses in a sample is known as viral testing. Viruses can be found in a variety of areas, including surfaces and the environment. Testing can assist in locating viruses that could spread disease. A viral test is a diagnostic tool used to determine whether or not a person has been infected with a virus.

Viral Testing Market Dynamics

Drivers

• Research and development activities

Leading businesses also consistently invest in research and development to create novel kits to treat viral illnesses. These above-mentioned elements significantly contribute to the market expansion of viral testing kits on a global scale.

• Technological improvements

The rise in viral infections, the requirement for quick and accurate diagnoses, and improvements in viral testing technologies are all factors contributing to the market expansion. Due to its high accuracy and dependability, the DFA test segment is anticipated to occupy the highest share of the worldwide viral testing market.

• Rising prevalence of diseases

The need for better healthcare services, facilities, and equipment at clinics and hospitals is rising as a result of the increasing prevalence of various diseases and the rapid globalisation of the healthcare infrastructure. The expanding research and development of treatment methods in research laboratories further fuels the healthcare sector. These elements will likely cause the market to expand over the course of the forecast period.

Opportunities

• Emergence of new pathogens

Furthermore, the increasing prevalence of viral diseases, the emergence of new pathogens, and a surge in the number of product approvals are expected to be the major driving factors over the coming years.

Restraints/Challenges

On the other hand, the stringent regulations regarding product approvals are likely to hamper the market's growth. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the viral testing market.

This viral testing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the viral testing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Viral Testing Market

Due to the increasing number of COVID-19 instances among people and the emergence of fresh COVID-19 viral strains around the world, the viral testing market is anticipated to expand. In addition to the requirement for the diagnosis of SARS-CoV-2 virus-infected individuals and population screening, the impact of COVID-19 was significant in that multiple firms introduced their tests for the virus, opening up lucrative potential for the viral testing market. Since the authorities do not advise using the specific viral culture tests, practically all diagnostic procedures test people who have COVID-19 symptoms using RT-PCR. Similar to this, the majority of pharmaceutical and biotech businesses are concentrating on research and development activities to find novel compounds or leads for COVID-19 treatment. For instance, in May 2021, Cipla Limited and Ubio Biotechnology Systems Pvt. Ltd. jointly introduced "ViraGen," a polymerase chain reaction (COVID-19 RT-PCR) test for COVID-19 in India. A similar portable PCR molecular test for monkeypox virus identification was created in June 2022 by the American start-up company Anitoa.

Recent Development

• 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 both 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.

Global Viral Testing Market Scope

The viral testing market is segmented on the basis of type, application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Direct Fluorescent Antibody (DFA) Test
• Immunochromatographic Assay
• RT-PCR-Based Test
• Agglutination Assay
• Flow-Through Assay
• Solid-Phase Assay

Application

• Laboratory
• Hospital
• Home Care
• Academic Institute

Viral Testing Market Regional Analysis/Insights

The viral testing market is analysed and market size insights and trends are provided by country, type, application as referenced above.

The countries covered in the viral testing market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the viral testing market owing to the sturdy healthcare infrastructure and substantial market base in terms of revenue and volume managed by industry players with innovative testing kits production and technological advancements.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the rising health awareness among the people and growing demand of advanced medical technology.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Viral Testing Market Share Analysis

The viral testing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to viral testing market.

Some of the major players operating in the viral testing market are:

• F. Hoffmann-La Roche Ltd (Switzerland)
• Agilent Technologies, Inc. (U.S.)
• Thermo Fisher Scientific Inc. (U.S.)
• QIAGEN (Germany)
• Lonza (Switzerland)
• Sigma-Aldrich Co. (U.S.)
• Wuxi AppTec (China)
• Merck & Co. Inc. (U.S.)
• Eurofins Scientific (Luxembourg)
• General Electric (U.S.)
• Danaher (U.S.)
• Sartorius AG (Germany)
• Bio-Rad Laboratories, Inc. (U.S.)
• BD (U.S.)
• Biospherix, Ltd (U.S.)
• Novogene Co Ltd. (China)

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