Virology And Bacteriology Global Market Growth Opportunities, Emerging Trends, Industry Analysis And Global Forecast 2024 To 2033

"The Business Research Company recently released a comprehensive report on the Global Virology And Bacteriology Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The virology and bacteriology market size has grown strongly in recent years. It will grow from $2.24 billion in 2023 to $2.44 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to increasing global travel, increasing demand for rapid diagnostic tests, increasing globalization, growth in research on zoonotic disease, and growth in educational programs.

The virology and bacteriology market size is expected to see strong growth in the next few years. It will grow to $3.47 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to rising prevalence of infectious diseases, expanding global health infrastructure, growing number of research activities, growing disposable income, and increasing number of aerobic and anaerobic tests. Major trends in the forecast period include technological advancements, personalized medicine, integration of artificial intelligence, vaccine technology, and telemedicine.

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Market Drivers and Trends:

The rising incidences of infectious diseases are expected to propel the growth of the virology and bacteriology market going forward. Infectious diseases are illnesses caused by pathogenic microorganisms such as bacteria, viruses, fungi, or parasites that invade and multiply within the body. Some of the contagious diseases include influenza, tuberculosis (TB), HIV/AIDS, malaria, and others. The increasing prevalence of infectious diseases is due to the growing challenges posed by pathogens, potentially due to globalization, urbanization, antimicrobial resistance, and environmental changes. Virology and bacteriology testing help diagnose infectious diseases by identifying the specific pathogens responsible for the illness, allowing for targeted treatment and management. For instance, in November 2023, according to the Centers for Disease Control and Prevention, a US-based government agency, tuberculosis (TB) cases in the US increased by 5.9% from 7,870 cases in 2021 to 8,331 cases in 2022. Therefore, the rising incidence of infectious diseases will drive the virology and bacteriology market.

Major companies operating in the virology and bacteriology market are focused on developing innovative products, such as bacteria detection kits, to advance diagnostic capabilities and address the challenges of infectious diseases. Bacteria detection kits are diagnostic tools designed to identify and analyze the presence of bacteria in various samples, such as blood, urine, food, or environmental samples. For instance, in December 2023, HiMedia Laboratories LLC, an India-based bioscience company, partnered with NG Biotech, a France-based manufacturer of in vitro diagnostic tools, and launched the NG-Test CARBA 5 kits for detection of carbapenemase-producing bacteria, which were approved by the Central Drugs Standard Control Organization (CDSCO). These kits are equipped with advanced technology to accurately identify a broad spectrum of antimicrobial-resistant bacteria, including those that produce enzymes such as carbapenemases. The kits offer rapid and reliable results, facilitating prompt decision-making in clinical settings. They are designed to be user-friendly and compatible with various sample types, including blood, urine, and environmental samples.

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Major Key Players of the Market:

F. Hoffmann-La Roche AG, Merck KGaA, Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers AG, Becton Dickinson and Company, Laboratory Corporation of America Holdings, Agilent Technologies Inc., Hologic Inc., bioMérieux SA, Bio-Rad Laboratories Inc., Bruker Corporation, Cepheid Inc., Eiken Chemical Co. Ltd., NEOGEN Corporation, Cerba Research, Luminex Corporation, Fujirebio Diagnostics Inc., Trinity Biotech plc, Microbiologics Inc., Bionano Genomics Inc., Scienion GmbH, Quidel Corporation

Virology And Bacteriology Market 2024 Key Insights:

• The virology and bacteriology market size is expected to see strong growth in the next few years. It will grow to $3.47 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%.
• Rising Incidences Of Infectious Diseases Propel Growth In Virology And Bacteriology Market
• Advancing Diagnostic Capabilities In Virology And Bacteriology Through Innovative Bacteria Detection Kits
• North America was the largest region in the virology and bacteriology market in 2023

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