Press release
Blood Virus Testing Market Set to Witness an Uptick by 2024
Recently a test has been created which can determine patient history for viral infections through one drop of blood where the antibodies remain active even after the infection is moved out. The test compares viral infection in large population with great accuracy and is proved to be an alternative for viral testing methods which detects specific types of viruses.
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According to Centers for Disease Control and Prevention, there were 59 outbreaks of viral hepatitis during 2008 to 2015 from which hepatitis B virus and hepatitis C virus infections accounted for greatest burden of disease. As viral hepatitis infections are asymptomatic and were not completely identified or reported. A report by WHO (World Health Organization) revealed that, there are more 357 million new infections detected annually and along with 500 million people with genital infections. Due to growing epidemiology of viral infections the blood virus testing market is estimated to drive growth over the years. Diagnostic virology has evolved from the traditional viral diagnostics and has achieved diagnosis by scanning a single drop of blood.
Globally, there is rapid increase in number viral infections which are difficult to diagnose due to the nature of viruses which has surged the demand for viral testing. Blood virus testing has been proved to be successful in diagnosis of such viruses and thus blood virus testing market is estimated to represent colossal growth during the forecast period (2016-2024). Various research organizations such as Howard Hughes Medical Institute are working to develop one-stop-shop testing for viruses and have been successful recently. Improving research and medical facilities powered by technology is expected to develop new market opportunities for blood virus testing over the forecast years.
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On the basis of region presence, Blood virus testing market is segmented into five key regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
North America market is estimated to lead the global market for blood virus testing due to high prevalence rate of viral infectious diseases such as hepatitis, followed by Europe due to the rising cases of severe acute respiratory syndrome (SARS) and Zika virus. According to the epidemiology of viral infections such as Ebola and Zika virus worldwide, the need for blood virus testing is raised. However, factors such as lack of accessibility to healthcare facilities and limited awareness about viral infections are likely to hamper the market especially in the developing economies.
Some of the key market players in the manufacturing of the treatment products (drugs) for Blood Virus Testing includes F. Hoffmann-La Roche Ltd, bioMérieux SA, Bio-Rad Laboratories, Inc., Thermo Fisher Scientific Inc., Omega Diagnostics Group PLC, Randox Laboratories Ltd., OraSure Technologies, Inc.
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