Virology Market to Witness Significant Growth by 2025by Susan Hill Business Consultant
The global virology market is expected to witness significant growth over the forecast period. Virology is the branch of Microbiology or Pathology. Virology is the study of viruses, i.e. Submicroscopic, parasitic particles of genetic material contained in a protein coat and virus-like agents. It focuses on the structure, classification, evolution, Disease producing prosperities, cultivation, and genetics of viruses. Viruses are responsible for various diseases that must be controlled or developed. The viruses also have certain beneficial properties that can be exploited for useful purposes such as gene therapy or vaccinology.
The way of infection and exploitation host cells for reproduction, their interaction with the host organism physiology and immunity, the diseases they cause the techniques to isolate, and culture them, and their use in research and therapy are the major driving factors of the market. Viruses are obligate intracellular molecular parasites and do not reproduce by binary fission. In general, viruses contain only one type of nucleic acid (either DNA or RNA) that carries the information necessary for viral replication.
Public awareness programmers conducted worldwide on Flu, Zika virus, STDs, AIDS, and Ebola virus are also a key factor increasing public awareness and eventually influencing the market growth. The virology market is constantly catering to the prevention and cure needs put forth by the healthcare sector. However, several diseases continue to demand R&D of novel applications, driving further growth of market. Various treatments and diagnostic processes also employ virology applications, fueling the market growth.
Viral test helps to diagnose infection causing viruses. Viruses can be diagnosed by different procedures such as cell culture method, specific antibodies detection, antigen detection, virus nucleic acid detection, gene sequencing and hemagglutination assays. Viral infection can be controlled by immunoprophylaxis, antiviral chemotherapy, and interferon. On the basis of product type the market is divided into Diagnosing Test: DNA Viruses, RNA Viruses, Prions Diagnostic Test, and Other Viral Tests.
On the basis of diagnosis tests, hepatitis B, Hepatitis C, HIV, Human papillomavirus (HPV), and other tests (like influenza, Ebola, and dengue) are estimated to hold the largest market share globally during the forecast period. Viral Infection controlling Methods include Immunoprophylaxis, Active Prophylaxis (Vaccines), Passive Prophylaxis, Antiviral Chemotherapy (Veridical Agents, Antiviral Agents, Immunomodulators), Interferon’s (Cytokines). Immunoprophylaxis therapy and antiviral drugs are the fastest growing market segments in the estimated forecast period.
Virology market is segmented By Applications into Skin and Soft Tissue Infections, Respiratory Tract Infections, GI Tract Infections, Urinary Tract infection, Eye Infections, Sexually Transmitted Diseases, Perinatal Infections. STDs, Urinary tract infections, and respiratory tract infections are currently dominating as compared to the other application types in the global market. On the basis of end users, the market is divided into Hospitals, Clinics, Laboratories, Diagnostic Centers, Blood Banks, Pharmacies.
Hospitals and the Laboratories are projected to continue the most dominating end-use segments; which are accounting for almost half of the market share globally. Virology market is segmented By Geographical Region into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. North America is the largest market which is led by the U.S. owing to technological advancements such as the increase rapid, portable diagnostics. North America is expected to retain the high market position over the forecast period.
Europe is projected to maintain the position as the second largest market globally during the forecast period. Europe is anticipated to record the highest CAGR, which is attributed to enhanced healthcare infrastructure, facilitated to diagnostics, and growing affordability of diagnostic tests for viral diseases. APEJ and Africa are expected to witness the most promising growth opportunities during the forecast period. China is leading APEJ market. India holds considerable revenue share of the APEJ virology market.
The Key Players include GlaxoSmithKline plc, Abbott Laboratories, Boehringer Ingelheim Corporation, Merck and Co. Inc, Novartis International AG, Siemens, Johnson & Johnson, AstraZeneca AB, and Roche.
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Created on Apr 14th 2020 07:58. Viewed 162 times.