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Covid-19

COVID-19

Understand the influence of COVID-19 on the Virology Market with our analysts monitoring the situation across the globe.

Market Overview

Virology is the study of viruses and virus-like agents, their disease-producing properties, taxonomy, structure, classification, evolution, cultivation, and genetics.  The virology market is considered as a backbone of the healthcare sector in terms of prevention against a myriad of diseases. Increasing R&D activities and rising adoption of virology in umpteen therapies and diagnostic processes drives the market growth.

The virology market was valued at USD 1,904.16 million in 2019 and is expected to grow with a CAGR of 6.2% during the forecast period.

Virology-Market

Increasing Prevalence of Viral Infection to Prompt the Need for Effective Diagnostic Tools

Globally, the prevalence of viral infection is increasing at an alarming rate; in the U.S., about 280,000 parasitic and infectious diseases were recorded in 2017. Currently, around 3.5 million Americans are suffering from undiagnosed hepatitis C. Additionally, the rapid spreading of the coronavirus prompts the dire need for diagnostic tools to control the outbreak.

Recently, on May 9, 2020, Abbott announced that the U.S. FDA issued Emergency Use Authorization for the company's SARS-CoV-2 IgG lab-based serology blood test. The company plans to ship nearly 30 million antibody tests globally in May. The company developed a new system, AlinityTMi, with the capacity to test over 60 million coronavirus cases. The system also received FDA approval and more than 10 million ARCHITECT antibody tests have been shipped to hospitals and labs around the world. Similarly, in September 2019, the FDA approved the OraQuick Ebola Rapid Antigen Test for Ebola in the U.S.

Virology-Market-Growth

Technological Advancements in Virology

Viral infections are responsible for over a million deaths across the globe due to rising drug resistance, further driving the development of novel treatments. The use of nanotechnology has revolutionized the diagnostic and therapeutic applications by offering rapid diagnosis and treatment. For instance, the Verigene system from Nanosphere and the T2MR system from T2 Biosystems are extensively used in hospitals for early diagnosis of diseases.Notable developments in nanotechnology have emerged as promising platforms for the real-time and responsive detection of multiple bioanalytesbased on nanostructure electrical sensors.

The integration of nanotechnology is likely to transform the antiviral therapy segment. The scientists use Nanopore-based Resistive-Pulse Sensing Techniques to determine both the dimensions and the number of viruses. So, this offers valuable complementary information and detects all particles relevant to viruses. For instance, recently, researchers at the EcolePolytechniqueFederale de Lausanne (EPFL) produced a type of gold nanoparticle that may destroy HIV and Ebola.

Virology Market: Segmentation

Advancement in Diagnosis to Drive the Diagnostic Test Segment

The diagnostic test segment holds the largest share in the virology market on account of the rising outbreak of viral infections and recent advances in diagnosis. For instance, MeMed developed the ImmunoXpert test for viral and bacterial infections. Diagnostic tests for COVID-19 have emerged as an essential tool to track the spread of the disease. Laboratories across the globe have customized their PCR tests for SARS-CoV-2, using different primers, targeting different sections of the virus’s genetic sequence. In February 2020, the U.S. Food and Drug Administration issued a new policy for certain clinical laboratories seeking to develop diagnostic tests for coronavirus in the U.S.

Rising Prevalence of Respiratory Tract Infections to Prompt the Demand for Effective Solutions

Globally, the respiratory tract infection is increasing at a concerning rate on account of rising pollution levels and changing climatic conditions. Increasing prevalence of hospital-acquired infections, ventilator acquired infections, and community-acquired infections are prime contributors to a myriad of respiratory disorders. Similarly, the prevalence of respiratory syncytial virus (RSV) is increasing at an alarming rate. As per the National Institute of Allergy and Infectious Disease, in the U.S. alone, around 75,000–125,000 children are affected by RSV and is responsible for about 160,000 deaths annually.

Regional Overview

North-America-Lead-Virology-Market

North America to Lead the Virology Market

North America leads the virology market on account of technological progression. Currently,in the U.S., about 1.4 million people have the coronavirus, of which about 83,000 died of the virus. The U.S. is also witnessing a significant surge in the prevalence of STIs. As per the CDC, in the U.S., about 20 million people aged 15 to 24 suffer from STI every year. Since 2017, the prevalence of congenital syphilis has surged by 40%, and around 11 people suffer from HIV. However, modern-day medications such as ART (Antiretroviral Therapy) have controlled the progression of HIV.

Asia-Pacific: Home to the Largest Population Suffering from HIV

Asia-Pacific houses the largest geriatric population, susceptible to umpteen viral infections. The coronavirus cases are increasing at an exponential rate, compelling the government to impose a lockdown. The region also houses about six million affected by HIV. The governments in the region are organizing various prevention programs to control the rising prevalence of HIV. Apart from this, the Japanese encephalitis, a viral brain infection, is highly prevalent among the rural population. As per the World Health Organization (WHO), globally, about 68,000 people suffer from Japanese encephalitis annually.

In emerging countries, huge unmet needs in clinical diagnostics provide an impetus to the market growth. The prominent players are heavily investing in India, China, and Southeast Asia as these countries are characterized by increasing prevalence of viral infections and infectious diseases such as COVID-19, Ebola, and HIV, prompting the need for sophisticated and accurate diagnostic procedures.

Key Players

  • GlaxoSmithKline Plc.
  • Merck & Co, Inc.
  • Novartis AG
  • BoehringerIngelheim International GmBH
  • Abbott
  • F-Hoffmann L Roche Ltd
  • AstraZeneca
  • Johnson & Johnson Service, Inc.
  • Siemens AG

Recent Development

  • In April 2020, DRDO launched a mobile virology lab in Hyderabad to help speed-up the COVID-19 screening

Virology Market Segmentation

By Type

  • Diagnostic Test
    • DNA Viruses
    • RNA Viruses
    • Prions Diagnostic Test
  • Viral Infection Controlling Method
    • Passive Prophylaxis
    • Immunoprophylaxis
    • Active Prophylaxis
  • Antiviral Chemotherapy
    • Antiviral Agents
    • Immunomodulators
    • Virucidal Agents
  • Interferon

 By Application

  • Skin and Soft Tissue Infections
  • Respiratory Tract Infections
  • GI Tract Infections
  • Urinary Tract Infections
  • Eye Infections
  • CNS Infections

 By End-User

  • Hospitals and Clinics
  • Ambulatory Surgery Centres
  • Blood Banks

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Central andSouth America and the Caribbean
  • The Middle-East and Africa

Frequently Asked Questions (FAQs)

The virology market was valued at USD 1,904.16 million in 2019 and is expected to grow with a CAGR of 6.2% CAGR during the forecast period.
Rising drug resistance, rising prevalence of respiratory tract infections are the key factors expected to drive Virology Market during forecast period.
North America is expected to hold the highest market share in Virology Market.
GlaxoSmithKline Plc., Merck & Co, Inc., Novartis AG, Abbott, F-Hoffmann L Roche Ltd, AstraZeneca, Johnson & Johnson Service, Inc., Siemens AG are the top players in Virology Market.
In 2019 Global Virology Market was valued at USD 1,904.16 million.
Diagnostic Test Segment is expected to be leading segment in Virology Market during the forecast period.
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