Virology Market: Information by Product Type (Diagnosing Test,Antiviral Chemotherapy), Application (Skin and Soft Tissue Infections,Respiratory Tract Infections) and Region—Forecast Till 2026

Virology is a detailed study of viruses that focuses on the structure, classification, evolution, and genetics of viruses. The virology market caters to the prevention and development of treatments for several viral diseases. Recently, in 2018, Cepheid initiated the HBDC Access Program1 for the
diagnosis of HIV, viral hepatitis (HCV), and human papillomavirus (HPV)2 at a relatively lower price. The company is aiming to make tests that would be more accessible to lower-income countries. Moreover, the increasing popularity of the GeneXpert System and quick diagnosis of diseases is fueling the market growth.
Global virology market was valued at USD 1,793 million in 2018, growing at a CAGR of 6.2% during the forecast period.

Notable Advances in Nanotechnology are Revamping the Virology Market

Globally, virus-infections are responsible for killing millions of people every year. Increasing drug resistance to the treatments due to prolonged use is another rising problem. However, it can be contained with the development of novel treatment. Today, the use of nanotechnology is revolutionizing the field of diagnostic and therapeutic applications by providing rapid testing and early diagnosis and treatment. For instance, the Verigene system and the T2MR system from Nanosphere and T2 Biosystems are extensively used in hospitals for the early diagnosis of diseases. Also, the integration of nanotechnology is likely to completely transform the antiviral therapy segment. Recently, researchers at the Ecole Polytechnique Federale de Lausanne (EPFL) created a type of gold nanoparticle that may destroy viruses like HIV and Ebola.

Request For Sample Report : https://straitsresearch.com/report/virology-market/request-sample

Growing Prevalence Of Infection

Globally, the prevalence of infection is increasing at an alarming rate and is subsequently increasing the number of hospital visits across the globe. As per 2017 stats, around 280,000 cases of infectious and parasitic diseases were recorded in the U.S. As per our analysis, one of the biggest stimuli of viral infections is the delay in diagnosis. Currently, around 3.5 million Americans are suffering from undiagnosed hepatitis C. Apart from this, increasing prevalence of urinary tract infection is bolstering the number of hospital visits each year. As per the Urology Care Foundation, around 8.1 million people visit hospitals for the treatment of UTI.

Looming thereat of emerging infections

Globally, the prevalence of Emerging Infectious Diseases (EIDs)—chikungunya, Ebola, West Nile virus, severe acute respiratory syndrome (SARS), and Lyme disease—are increasing at an alarming rate. The transmission of infectious diseases from one region to other has made diagnosis mandatory for travelers. For instance, the zika virus was brought to brazil by a traveller from French Polynesia. Similarly, the occurrence of Ebola caused mayhem across the globe. Today, the diseases are spreading at an extremely fast pace across the globe, which is further bolstering the demand for diagnostic tools as it can help to control the outbreak at an early stage. Recently, in September 2019, the FDA approved OraQuick Ebola Rapid Antigen Test, a new rapid diagnostic test for Ebola in the U.S.

Intended Audience

Vaccine manufacturers and Suppliers
Pharmaceutical Companies
Hospitals
Research Institutes
Regulatory Bodies
The Report Covers

In-depth analysis of market dynamics, including drivers, restraints, and opportunities
Quantitative analysis of the current market and a forecast for the duration from 2019 to 2026
Prevailing market opportunities in key segments of the global virology market
Recent developments
Diagnostic Test to Account for the Largest Market Share

In the report, we have provided a detailed analysis of the diagnosing test, viral infection controlling methods, and antiviral chemotherapy. The diagnostic test segment captures a major share in the virology market. This can be attributed to the increasing outbreaks of infection and recent advancements in diagnosis. Additionally, the introduction of new efficient test technologies is adding fuel to the market growth. For instance, the ImmunoXpert test offered by MeMed provides a better distinction between viral and bacterial infections.

STDs, Urinary Tract Infections, and Respiratory Tract Infections to Grow at Significant a Rate During the Forecast Period

Virology consists of a detailed study of skin and soft tissue infections, respiratory tract infections, GI tract infections, urinary tract infections, eye infections, STD, and perinatal infections. The major market-dominating segments are the STD, urinary tract infection, and respiratory tract infection. Globally, the Respiratory Syncytial Virus (RSV)—an infection in the lungs and breathing passages—is spreading at a concerning pace. In the U.S. alone, about 75,000–125,000 children are affected by RSV, and is responsible for killing around 160,000 deaths every year, the National Institute of Allergy and Infectious Disease.

North America to Dominate the Virology Market

North America is dominating the global virology market. The U.S. market has seen a considerable upsurge in the prevalence of STIs, which can primarily be attributed to the growing preference of unprotected sex among youth and the aging population. As per the CDC, in the U.S., around 20 million people aged 15–24 are suffering from STI every year, and the total direct cost of STI is around USD 16 billion. Apart from this, the prevalence of chlamydia, syphilis, HIV, and gonorrhea is witnessing a significant surge in the last few years. For instance, since 2017, the prevalence of congenital syphilis has increased by 40%. Moreover, about 1.1 million people in the U.S. are suffering from HIV. However, modern-day medications such as antiretroviral therapy (ART) have considerably slowed down the progression of HIV.

Europe to Hold a Significant Market Share

Europe is holding the second-largest share in the global virology market as it has the presence of robust healthcare facilities and is backed by government policies. England is leading in the virology market due to the increasing prevalence of STI and gonorrhea. In 2018, around 447,694 people were affected by STI, which has increased by 5% increase as compared to 2017. Whereas, in 2018, about 56,259 people were suffering from gonorrhea, which surged by 26%. To attend to the dire situation, the National Chlamydia Screening Programme conducted around 1,304,113 chlamydia tests among the people aged 15–24 years. Moreover, the injectable drug abuse has increased the cases of Hepatitis C virus in Europe. In the U.K alone, around 400,000 people are infected with hepatitis C.

Government Initiatives to Drive The Market Growth in Asia-Pacific

Asia Pacific is housing around 5.9 million people affected with HIV. In the region, China, India, and Indonesia account for around three-quarters of the total HIV population in the region, the Avert Organization. To attend to the dire situation, the governments in the region have organized several prevention programs that have successfully reduced the prevalence of infections by 14% since 2010. Initially, the HIV epidemic was heavily concentrated among the sex workers, which is why the governments launched a ‘100% Use’ program to reduce the stigma, discrimination, and other barriers in accessing testing services. For instance, fifteen countries in the region are piloting community-based HIV testing for the key populations. Rapid finger-prick testing technologies are being adopted over traditional tests to avoid laboratory analysis. For instance, in 2016, in Cambodia, over 36,000 people used these tests, 80% more as compared to 2014. Surprisingly, China has widely adopted HIV self-testing. By 2017, around one-third of men in China used HIV self-testing kits. Apart from this, the Japanese encephalitis—a viral brain infection—are most prevalent among the people living in rural areas. Globally, around 68,000 people suffer from Japanese encephalitis every year, the WHO. Moreover, the increasing construction activities in the East and Southeast Asia are bolstering the growth of pathogen dispersal.

Buy Now : https://straitsresearch.com/buy-now/virology-market/global/

Key Players

Some of the key players in the global virology market are GlaxoSmithKline plc, Merck & Co., Inc, Novartis AG, Boehringer Ingelheim International GmbH, Abbott, F. Hoffmann-La Roche Ltd, AstraZeneca, Johnson & Johnson Services, Inc., and Siemens AG.

Global Virology Market Segmentation

By Type

Diagnosing Test
DNA viruses
RNA viruses
Prions diagnostic test
Others
Viral Infection Controlling Methods
Passive Prophylaxis
Immunoprophylaxis
Active Prophylaxis (Vaccines)
Antiviral Chemotherapy
Antiviral Agents
Immunomodulators
Virucidal Agents
Interferon
Cytokines
By Application

Skin and Soft Tissue Infections
Respiratory Tract Infections
GI Tract Infections
Urinary Tract Infections
Eye Infections
CNS Infections
Others
By End Users

Hospitals and Clinics
Diagnostic Centers
Blood Banks
Others
By Region

North America
U.S.
Canada
Mexico
Europe
U.K
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA

Contact Us:
Email: sales@straitsresearch.com
Address: 825 3rd Avenue, New York, NY, USA, 10022
Tel: +1 6464807505, +44 203 318 2846
Website: https://straitsresearch.com/

About Us :
StraitsResearch.com is a leading market research and market intelligence organization, specializing in research, analytics, and advisory services along with providing business insights & market research reports.

This release was published on openPR.