Virology Testing Market Size, Growth and SWOT Analysis by Key Players F. Hoffmann-La Roche AG., Bio-Rad Laboratories , Hologic , Abbot Healthcare, Fujirebio Diagnostics

In order to confirm viral infections, virology testing inculcates various methods. Culture medium based method in which virus is confirmed by colony formation over culture has been traditionally used since long time. Although this method is widely acceptable and easy to perform, it is often time consuming, as it takes few days to weeks to confirm presence of particular virus. It is a serious limitation especially in viral pandemics where loss of time could result in more widespread infection and delay in management of the viral infection.

New advanced molecular based virology testing methods has been evolved in recent past such as immunoassay, nucleic acid based amplification testing methods (PCR based methods), mass spectrometry based detection methods and next generation genome sequencing methods, which are accurate, quick, and provides result for diversified viral infections.

Virology Testing Market- Market Dynamics

Virology testing market is projected to witness significant growth during forecast period with rising prevalence of virus originated diseases such as flu, hepatitis, AIDS, and STDs, Ebola, Influenza based viral infections, severe acute respiratory syndrome from coronavirus, hemorrhagic fever etc. across world. Early and fast diagnosis of virus infection is very essential to start treatment course.

According to the World Health Organization (WHO), January 2018 factsheet, all types of influenza in combination causes annual epidemics about 3 to 5 million cases with severe stage of illness, which results in the 290 000 to 650 000 deaths worldwide annually. Although rapid diagnostic tests are majorly used, PCR based techniques are being adopted for detection of influenza.

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According Report on Global Sexually Transmitted Infection Surveillance published in 2015 by WHO, in 2012, an estimated 357 million new infections, which is equivalent to roughly 1 million patients per day were reported for the four curable sexually transmitted disease such as chlamydia, gonorrhea, syphilis, and trichomoniasis.

Furthermore, advances in anti-viral therapy in terms of detection techniques, medication, and vaccines are expected to drive the virology testing market growth. Worldwide efforts are going on to find novel vaccines and novel medication for treating viral resistant diseases. For instance, Pritelivir is investigational drug for herpes simplex virus (HSV) by AiCuris has proven to be very effective as compared to the current standard antiviral treatments for genital herpes in Phase II trials. Extensive research has been conducted worldwide for treatment of high epidemic viral disease such as Ebola, Dengue, and Malaria.

New technologies for detecting and curing viral disease could help in market expansion. For instance, the nanoscale viral trap molecule technology, which is under research at present can be applicable in diagnosing a viral disease. An innovative tunable device selectively traps viruses detecting them with 100 times better sensitivity than the current available techniques. Double-stranded RNA Activated Caspase Oligomerizer (DRACO) is another nanoparticle based drug in research to treat viral disease.

Advancement in diagnostic technologies from culture based methods to nucleic acid and molecular diagnosis techniques is leading to new product launches by key players, which is expected to drive growth of virology testing market. For instance, Roche in 2017, launched cobas HPV Assay to be performed on the cobas 6800/8800 Systems. Cobas HPV assay aids in identifying women at risk of cervical cancer, performed on cobas 6800/8800 Systems which is fully automated system with capacity to deliver large diagnostic services.

Virology Testing Market - Regional Insights

On the basis of Geography, virology testing market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is projected to dominate the virology testing market over the forecast period. According to the Centers for Disease Control and Prevention (CDC), around 5,251 deaths were reported due to influenza infection in 2015.

According to the National Ambulatory Medical Care Survey: 2015 data findings, around 16.8 million people visit to physician for treatment of infectious and parasitic diseases in U.S. Moreover, according to a study from the Society for Risk Analysis, 2016, GDP loss of a viral pandemic outbreak in the U.S. was recorded between US$ 34.4 billion and US$ 45.3 billion in 2015.

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