Global Viral Testing Market Overview:
The global virus testing market is hereby expected to grow with a highly robust CAGR over the forecasted period due to the increasing consumer preference for self-diagnostic techniques. In addition, to these many of the leading companies are at present continuously investing in the research and development sector so as to develop new testing kits for the various viral diseases. Viral infections can be diagnosed by testing blood, the body fluids, or samples from the infected area of the body that are further examined using an electron microscope. Viral infections like measles and rubella are usually diagnosed on the basis of their symptoms. Some of the highly serious viral infections are diagnosed by the means of examining the blood or body fluids. The prevalence of infectious diseases has increased significantly over the past ten years. The growing preference for self-diagnosis of viral diseases and the increased detection of new infectious viruses are important factors that should drive the market for diagnostic kits for virus tests in the near future. However, complex regulatory scenarios regarding the approval of diagnostic tests for viral infections and rising healthcare costs are expected to limit the market in the forecast period.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Roche Holding AG (Switzerland), Agilent Technologies (United States), Thermo Fisher Scientific (United States), QIAGEN International (Netherlands), Lonza Group AG (Switzerland), Wuxi Pharmatech (Cayman), Merck (United States), Eurofins Scientific (Luxembourg), General Electric (United States), Danaher Corporation (United States), Bio-Rad Laboratories (United States) and BD (United States) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Growth Drivers
- Rising Prevalence of the Disease across the Globe
- Increasing Demand for More Rapid Diagnostic Test Kits for Influenza
- Rising Prevalence of Viral Diseases
Roadblocks
- Complex Regulatory Scenario Regarding the Approval for Diagnostic Tests for Viral Infections
- Increasing Health Care Costs
Opportunities
- Funding By Public and Private Players for Research and Development of Novel Virus Diagnostic Techniques
- Growth in Favorable Reimbursement Policies
- Government Participation in the Prevention and Control of Infectious Diseases
Challenges
- Unawareness about Viral Testing in Under Developed Regions
Competitive Landscape:
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Roche Holding AG (Switzerland), Agilent Technologies (United States), Thermo Fisher Scientific (United States), QIAGEN International (Netherlands), Lonza Group AG (Switzerland), Wuxi Pharmatech (Cayman), Merck (United States), Eurofins Scientific (Luxembourg), General Electric (United States), Danaher Corporation (United States), Bio-Rad Laboratories (United States) and BD (United States). Additionally, following companies can also be profiled that are part of our coverage like Biospherix (United States), Novogene Corporation (China) and Sartorius (Germany). Analyst at AMA Research see United States Players to retain maximum share of Global Viral Testing market by 2027. Considering Market by End-User, the sub-segment i.e. Laboratories will boost the Viral Testing market. Considering Market by Virus Type, the sub-segment i.e. Influenza will boost the Viral Testing market.
What Can be Explored with the Viral Testing Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Viral Testing Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Viral Testing
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Viral Testing market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Viral Testing market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Providers of Viral Testing, End-Users, Potential Investors, Market Research Firms, Regulatory Bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.