Norovirus Diagnostics Market is expected to reach US$ 114 Mn by the end of 2031

Norovirus Diagnostics Market 2022

The global norovirus diagnostics market was worth US$ 47.6 Mn in 2020, and is set to expand 2.2X over the next ten years. The global market is expected to reach US$ 114 Mn by the end of 2031, with sales revenue expected to register 8.4% CAGR.

Get Free Sample Copy of this Report@ https://www.persistencemarketresearch.com/samples/25924

Increasing government initiatives, development of rapid tests for the detection of norovirus infection, and key players acquiring other companies or brands are some of the key trends being witnessed in this marketplace.

The norovirus illness is highly contagious, and even a small amount of norovirus virions can induce infection (1-10 virions particles). Currently, only RT-PCR is available for virus detection, which is both, trustworthy and sensitive. However, carrying out these processes is time-consuming and necessitates the use of special equipment. Hence, companies are focused on developing rapid point-of-care (POCT) tests such as biosensors or lateral flow immunoassays for norovirus detection. Increasing demand for rapid tests for the detection of norovirus is expected to propel market growth over the years to come.

Key market players are focusing on the development of new diagnostic tests to cater to rising demand in the market.

For Instance, in December 2020, Altona Diagnostics launched AltoStar Norovirus RT-PCR Kit 1.5. It is an automated in-vitro diagnostic test for the detection of norovirus genogroup I (GI) and II (GII).

The pandemic has had a significant impact on healthcare for conditions such as hypertension, cancer, diabetes management, and cardiovascular emergencies. Change in healthcare professionals' focus away from these diseases and toward COVID-19 criticality has had a severe influence on the broader healthcare business. However, the market is expected to increase rapidly over the next years.

Request for Methodology@ https://www.persistencemarketresearch.com/methodology/25924

Company Profiles:

Abbott
R-Biopharm AG
Cepheid
Luminex Corporation
Meridian Bioscience
ELITechGroup
Biomérieux SA
CerTest Biotec SL
Elisabeth Pharmacon, Spol. S Ro
Qiagen
Altona Diagnostics GmbH
Eiken Chemical Co.

Key Takeaways from Market Study

Based on product, rapid tests are leading with 56% market share due to their high accuracy and sensitivity.
Diagnostics laboratories dominate with a market share of 50%.

By region, North America is set to dominate the global market with a value share of around 32.6%.
Europe is slated to be the second-largest leading market with a value share of 29% across the forecast period.

In 2020, Japan dominated the East Asia market with 50%. However, over the forecasted period, the market in China is expected to grow exponentially at a CAGR of 14.1%.

"Increasing prevalence of norovirus infections and rising awareness about testing are expected to drive market growth over the next ten years," says an analyst of Persistence Market Research.

Market Competition

Agreements, collaborations, and partnerships have emerged as key growth strategies adopted by industry players. By focusing on these strategies, key stakeholders are expanding their geographic footprints and strengthening their existing product portfolios.

In August 2016, Danaher Corporation completed the acquisition of Cepheid, a molecular diagnostics company for approximately US$ 4 Bn.
In April 2020, Meridian Biosciences acquired Exalenz Bioscience for approximately US$ 89 Mn

What Does the Report Cover?

Persistence Market Research offers a unique perspective and actionable insights on the norovirus diagnostics market in its latest study, presenting a historical demand assessment of 2016 - 2020 and projections for 2021 - 2031.

The research study is based on product (rapid test kits, PCR kits, and ELISA-based kits), and end user (hospitals, diagnostics laboratories, and clinics), across seven key regions of the world.

Access Full Report@ https://www.persistencemarketresearch.com/checkout/25924

Key Questions Answered in This Report.

What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?

Related Reports:

Liquid Embolic Market - https://www.persistencemarketresearch.com/market-research/liquid-embolic-market.asp

Liquid Embolic Market is projected to experience a noteworthy 8.9% CAGR to reach a market valuation of approximately US$ 580.5 Mn by 2031.

Intubation Market -https://www.persistencemarketresearch.com/market-research/intubation-market.asp

Persistence Market Research predicts that the global intubation market will exhibit a 5% CAGR during the forecast period (2020-2030).

Contact Us:

Persistence Market Research
Address - 305 Broadway, 7th Floor, New York City, NY 10007 United States
U.S. Ph. - +1-646-568-7751
USA-Canada Toll-free - +1 800-961-0353
Sales - sales@persistencemarketresearch.com

About Us: 

Persistence Market Research (PMR), as a 3rd-party research organization, does operate through an exclusive amalgamation of market research and data analytics for helping businesses ride high, irrespective of the turbulence faced on the account of financial/natural crunches.

This release was published on openPR.