Virology Market Size, Share & Trends Analysis Report By Type (Diagnosing Test , Viral Infection , Controlling Methods , Antiviral Therapeutics, Interferon), By Applications (Skin and Soft Tissue Infections , Respiratory Tract Infections , GI Tract Infections , Urinary Tract Infections , Eye Infections , CNS Infections , Others), By End-Users (Hospitals , Clinics , Diagnostic Centers , Blood Banks , Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Market Overview

The global virology market size was valued at USD 2.71 billion in 2023. It is estimated to reach USD 4.20 billion by 2032, growing at a CAGR of 5.05% during the forecast period (2024–2032). The discovery and spread of new viruses and the re-emergence of previously controlled viruses globally create demand for diagnostic tests, treatments, and virology vaccines, thereby driving market growth. The aging population is also more prone to viral infection, which is, in turn, anticipated to augment the market expansion. Moreover, advancements and development of antiviral therapies to treat viral diseases are expected to create market expansion opportunities.

Highlights

• Antiviral therapeutics dominate the type segment
• Respiratory tract infections dominate the application segment 
• Hospitals dominate the end-user segment 
• North America is the highest shareholder in the global market

Market overview

Virology is the scientific discipline that examines viruses and the diseases they cause. Virologists, experts in virology, study various aspects of viruses, such as their structure, classification, growth, reproduction, disease-causing mechanisms, and relationships with their hosts, encompassing animals, plants, fungi, bacteria, and other viruses. A comprehensive understanding of virology is crucial for advancing therapies, immunizations, and prophylactic strategies against viral diseases.

The recognition of Martinus Beijerinck in 1898 that the causative agent of tobacco mosaic disease (TMV) is a new pathogen is widely seen as the official commencement of virology as a separate scientific discipline from bacteriology. He discovered that the origin was neither a bacterial nor a fungal illness but an entirely distinct entity. Beijerinck coined the term "virus" to designate the enigmatic agent in his 'contagium vivum fluidum' ('contagious living fluid'). In 1955, Rosalind Franklin put up the complete structure of the tobacco mosaic virus.

Market Dynamics

Global virology market drivers

Emerging and re-emerging viral diseases

The discovery and spread of novel viruses, together with the resurgence of previously contained viruses such as Influenza, HIV/AIDS, Ebola, Zika virus, Nipah virus, and COVID-19, generate a need for diagnostic examinations, treatments, and vaccines. According to the World Health Organization (WHO), there are approximately one billion occurrences of seasonal influenza each year, with 3-5 million cases classified as severe. These severe cases led to 290,000 to 650,000 fatalities caused by respiratory complications.

Moreover, as per the same source, the mortality rates for Ebola ranged from 25% to 90%, whereas the predicted fatality rate for the Nipah virus was from 40% to 75%. Virologists consistently monitor the appearance of novel viruses and the reappearance of previously contained viruses. They do this by observing animal reservoirs, investigating odd illness outbreaks in humans, or conducting serological surveys. This is expected to accelerate market expansion during the projected timeframe.

Aging population

The increasing age of the population makes them more vulnerable to viral infections, leading to a higher need for vaccines and antiviral therapies, especially for diseases like influenza and herpes zoster. An aging population has emerged due to declining birth rates and rising life expectancy. The geriatric population is growing in almost every country worldwide.

According to the World Population Prospects statistics, the 2019 Revision, it is projected that by 2050, approximately 16% of the population will be over 65 years old, compared to around 9% in 2019, which means that the proportion of elderly individuals will increase from one in eleven to one in six. Therefore, it is projected that the increasing number of elderly individuals will enhance the growth of the global market.

Global virology market restraint

Regulatory challenges

The U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) implement stringent approval procedures for novel pharmaceuticals, vaccines, and medical equipment. Commercial licensing of virology products is contingent upon their having passed comprehensive safety, efficacy, and quality assessments in both preclinical and clinical settings.

Furthermore, the regulatory mandates for virology goods exhibit variability among countries and regions, resulting in redundant efforts, prolonged approval processes, and escalated manufacturer expenses. In addition, there may be regulatory obstacles stemming from intellectual property concerns around virology products, such as patent conflicts or rights to exclusive data. Addressing these challenges can be intricate and may necessitate legal intervention, resulting in potential delays in product development and market entrance. Hence, these factors collectively impede the expansion of the market.

Global virology market opportunities

Antiviral therapy advancements

Ongoing initiatives are being made to develop novel vaccinations and antiviral treatments. For instance, in October 2023, Gilead Sciences and Assembly Biosciences formed a 12-year cooperation to enhance the progress of researching and developing novel antiviral treatments. The initial focus will be on Assembly Bio's expertise in herpes viruses, hepatitis B virus, and hepatitis D virus. Assembly Bio will be granted a total of USD 100 million, consisting of an initial payment of USD 84.8 million and a subsequent equity investment of USD 15.2 million, by Gilead.

Additionally, in May 2023, the U.S. Food and Drug Administration approved the oral antiviral medication Paxlovid (consisting of nirmatrelvir tablets and ritonavir tablets packaged together for oral use). This medication is intended for the treatment of mild-to-moderate COVID-19 in adults who have a high risk of developing severe COVID-19, such as being at risk of hospitalization or death. Paxlovid is the FDA's fourth licensed medication and the first oral antiviral tablet for treating COVID-19 in adults. These breakthroughs present opportunities for the development of virology treatments and drugs.

Regional Analysis

Based on region, the global virology market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North america dominates the global market

North America is the most significant global virology market shareholder and is expected to expand substantially during the forecast period. Virology research in North America is strong, supported by substantial investments in healthcare infrastructure. The region has prominent virology research institutions and pharmaceutical corporations, significantly influencing the market's growth. Moreover, the prevalence of sexually transmitted infections (STIs) in the US market has significantly increased. This may mainly be due to the rising trend of engaging in sexual activity without using protection among young people and the older population. According to the CDC, around 20 million individuals between the ages of 15 and 24 in the United States are afflicted with sexually transmitted infections (STIs) annually. The overall direct expense associated with STIs amounts to approximately USD 16 billion.

In addition to this, there has been a substantial increase in the occurrence of chlamydia, syphilis, HIV, and gonorrhea in recent years. Since 2017, there has been a 40% increase in the occurrence of congenital syphilis. Likewise, around 1.1 million individuals in the United States are afflicted with HIV. However, modern medicines like antiretroviral therapy (ART) have significantly impeded the advancement of HIV. This is anticipated to enhance the growth of the local market.

Moreover, the research and development and advancements in antiviral therapies for viral illnesses are projected to propel the expansion of the market significantly. For instance, in February 2023, The National Institutes of Health commenced a multi-site clinical trial to assess the effectiveness of an experimental antiviral drug in treating COVID-19. The treatment, named S-217622 or ensitrelvir fumaric acid, was developed by Hokkaido University in Sapporo, Japan, and Shionogi & Co., Ltd. in Osaka, Japan. The trial aims to assess the efficacy of S-217622 in enhancing clinical outcomes for COVID-19 patients admitted to hospitals compared to a placebo. The study will involve the enrollment of around 1,500 individuals across multiple locations globally.

In the Asia-Pacific region, virology is rapidly advancing. China and India are actively allocating resources towards virology research, indicating a promising future market. There has been an increase in the establishment of new virology laboratories by various institutes and organizations. For instance, in September 2023, the Rajiv Gandhi Centre for Biotechnology (RGCB) in Kerala introduced a mobile virology testing laboratory equipped with all the necessary tools. This initiative aimed to enhance the containment efforts against the Nipah virus infection, which had been reported in certain areas of Kozhikode district in the state.

Moreover, Veena George, the Minister of Health, Woman and Child Development, inaugurated the Mobile Virology Lab in front of the Kerala Assembly building. Commending the RGCB for its substantial contribution to the Nipah containment efforts by establishing this crucial facility, she mentioned that the mobile laboratory will arrive in Kozhikode later in the day, allowing for testing more samples. This is expected to stimulate the growth of the regional market.

Segmental Analysis

The global virology market is bifurcated into type, application, and end-user.

Based on type, the global virology market is segmented into diagnosing tests, viral infection-controlling methods, antiviral therapeutics, and interferon. 

The antiviral therapeutics segment is anticipated to hold the largest market share. Antiviral therapeutics are medicines or treatments specifically developed to hinder, alleviate, or control viral infections. They frequently function by impeding distinct phases of the viral replication cycle. For instance, they can impede the entry of viruses into host cells, disrupt the synthesis of viral genetic material, or hinder the production of viral proteins.

Antiviral medications are effective in treating a range of viral illnesses, such as influenza, hepatitis B and C, HIV/AIDS, herpes simplex viruses, and respiratory viruses like SARS-CoV-2. Antiviral therapies are essential for managing viral infections, as they can reduce symptoms, prevent complications, and, in certain instances, aid in eradicating or controlling viral disorders. However, the efficacy of these treatments may fluctuate based on variables such as the particular virus, the phase of infection, and unique patient attributes.

Based on application, the global virology market is segmented into skin and soft tissue infections, respiratory tract infections, GI tract infections, urinary tract infections, eye infections, CNS infections, and others. 

The respiratory tract infections segment owns the highest market share. Virology aids in identifying the viruses responsible for respiratory tract infections using many diagnostic methodologies, including polymerase chain reaction (PCR), viral culture, serological testing, and antigen detection assays. Precise diagnosis is crucial for proper treatment. Virology aids in the identification of the etiological agents responsible for respiratory tract infections using many diagnostic methodologies, including polymerase chain reaction (PCR), viral culture, serological testing, and antigen detection assays.

Precise diagnosis is crucial for proper treatment. Virology plays a crucial role in creating vaccines targeting respiratory viruses. Vaccination is a highly efficient method for preventing viral respiratory tract infections. This is expected to stimulate market expansion.

Based on end-users, the global virology market is bifurcated into hospitals, clinics, diagnostic centers, blood banks, and others. 

The hospital segment dominates the global market. Virology is essential in hospital settings. Effective patient care and public health necessitate collaboration among virologists, doctors, epidemiologists, and infection control experts. Hospitals equipped with virology departments frequently engage in research endeavors to enhance scientific comprehension of viral illnesses and develop novel diagnostic instruments and therapies. Virologists also contribute to educating healthcare professionals, patients, and the general public regarding viral illnesses, modes of transmission, preventive measures, and immunization.

Recent Developments

• February 2024- Start-up representatives from the Research Innovation Network Kerala (RINK) of the Kerala Startup Mission (KSUM) visited the Institute of Advanced Virology (IAV) at the Life Sciences Park. This visit aimed to help start-ups explore opportunities for incubation and co-development of products and services with the institute.
• October 2023- Gilead Sciences, Inc. disclosed recent findings from its virology research and development initiatives, which will be showcased at IDWeek 2023, taking place in Boston from October 11-15. The recent findings exemplify the company's continuous endeavors to tackle the unfulfilled medical requirements of individuals and communities impacted by HIV and COVID-19.