Market Trends of Global Virology Testing Industry
This section covers the major market trends shaping the Virology Testing Market according to our research experts:
The PCR-based Method Segment is Expected to Hold a Significant Market Share in the Virology Testing Market Market
By diagnostic technique, the PCR-based molecular diagnostic methods segment is likely to garner a significant market share over the analysis period. These PCR methods are the most widely used for detecting pathogens, including viruses. Moreover, PCR has become an integral part of clinical and diagnostic research and has transformed diagnostic viral testing over the years, in order to overcome the clinical diagnosis error rate. It reduces diagnosis time and has improved the specificity and accuracy of the result, thus driving the segment's growth.
In addition, the COVID-19 pandemic has had a significant impact on the segment's growth. As the authorities have not recommended the specified viral culture tests, almost all the diagnostic tests use RT-PCR to test the population who have symptoms of COVID-19. Likewise, most pharmaceutical and biotechnological companies are focusing on research and development activities to identify new molecules or leads for the treatment of COVID-19. For instance, in May 2021, Cipla Limited launched "ViraGen", a polymerase chain reaction (COVID-19 RT-PCR) test for COVID-19 in India in partnership with Ubio Biotechnology Systems Pvt. Ltd. Similarly, in June 2022, a portable PCR molecular assay for monkeypox virus detection was developed by Anitoa, a United States-based start-up company. An extraction-free multiplex reagent is used in the assay to check the gene targets of the orthopoxvirus and monkeypox viruses in samples of skin lesions.
Thus, these aforementioned factors are likely to contribute to the growth of the segment over the analysis period.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
Growth in the regional market has been strong over the years owing to the rapid adoption of advanced diagnostic and testing methods, higher spending on healthcare, the presence of favorable government policies, and the presence of advanced clinical laboratories and manufacturing companies. The increasing R&D activities from the public and private organizations in the United States are also a major factor contributing to the growth of the market. For instance, in December 2021, Quidel Corporation a provider of rapid diagnostic testing solutions, cellular-based virology assays, and molecular diagnostic systems, stated that Quidel's ongoing efforts to evaluate COVID-19 mutations and confirm that its antigen tests continue to detect COVID-19 variants such as Omicron.
Moreover, the surge in various viral infections in the United States is a growth attributing factor to the virology testing market. For instance, as per the Weekly United States Influenza surveillance report in May 2022, the overall cumulative hospitalization rate was 15.5 per 100,000 population, and the overall weekly hospitalization rate was 0.6 per 100,000 population. Likewise, according to Statistics published by HIV.gov in June 2021, approximately 1.2 million people in the United States have HIV (Human Immunodeficiency Virus). This suggests that HIV incidences are high in the country, which is anticipated to boost the demand for diagnosis and testing, ultimately driving the studied market growth. Similarly, the CDC reported in May 2022 that 30,635 people in the United States and dependent territories acquired an HIV diagnosis in 2020.
Such factors are likely to boost the virology testing market across the region during the forecast period.
