Virology Market Size & Growth Analysis (2023 - 2030)

The Virology Market at global level is projected to reach USD 2.8 billion by 2030 growing at a CAGR of 6.72% during the forecast period of 2023 - 2030. Public awareness programmers on Flu, Zika virus, STDs, AIDS, and Ebola virus worldwide are also a main reason for improving public awareness and ultimately influencing market growth. The virology market is constantly addressing the healthcare market's prevention and cure needs. Several diseases continue to require R&D for novel applications, driving further market growth. Various treatments and diagnostic processes also employ applications for virology, which fuel market growth.

Virology is a scientific study of microbiological or pathological sciences including the analysis of viruses and viral diseases, including propagation, biochemistry, property-generating diseases, physiology, molecular biology, ecology, agriculture, evolution, genetics and the clinical aspects of viruses. It explains how the physiology and immunity of the host species interacts, the diseases they cause, the strategies for isolating and maintaining them, ways to manipulate and exploit host cells for reproduction, and their use in study and therapy. They cannot consume food or grow on their own, but if they live inside cells of other species, called "hosts", they will make more of themselves. The viruses are attacking those host cells and making more of them. The viruses then move on to other host cells and do this all over again. 

VIROLOGY MARKET REPORT COVERAGE

Market Segmentation

This global report on virology market is segmented and sub-segmented into the following categories:

Virology Market - By Type

• Diagnosing Test
• Viral Infection Controlling Methods
• Antiviral Chemotherapy
• Interferons
• Prophylaxis  

Virology Market - By Application

• Skin and Soft Tissue infections
• Respiratory Tract Infections
• GI Tract Infections
• Urinary Tract Infections
• Eye Infections
• CNS Infections
• STDs/STIs
• Perinatal Diseases
• HPV/HIV
• Influenza
• Others

The respiratory tract infection accounted highest share owing to increasing at a concerning rate on account of rising pollution levels and changing climatic conditions. Increasing prevalence of hospital-acquired infections, ventilator acquired infections, and community-acquired infections are prime contributors to a myriad of respiratory disorders.

Virology Market - By End User

• Hospitals
• Clinics
• Laboratories
• Diagnostic Centres
• Blood Banks
• Pharmacy

Hospitals and the Laboratories are projected to continue the most dominating end-use segments, which are accounting for almost half of the market share globally. Owing to the rise of viral infections and recent diagnostic advances, the diagnostic test segment dominates the market in virology. For example, MeMed developed an ImmunoXpert test for viral and bacterial infections. Diagnostic tests for COVID-19 have emerged as an important method for monitoring disease transmission, with laboratories around the globe customizing their PCR tests for SARS-CoV-2 using various primers that target specific parts of the genetic sequence of the virus.

Virology Market - By Geography

Based on geography, this global report is analyzed into the following regions:

1.    North America

• U.S.
• Canada
• Mexico

2.    Europe

• Italy
• Spain
• Russia
• Germany
• UK
• France
• Rest of Europe 

3.    Asia Pacific

• Japan
• South Korea
• China
• India
• Australia & New Zealand
• Rest of Asia-Pacific 

4.    Rest of the World

• South America
• Middle East
• Africa 

North America is the largest market owing to advancements in technology such as portable diagnostics, the rapid introduction of new diagnostic and testing techniques, higher healthcare spending, the presence of supportive government policies and the advent of specialist clinical laboratories and medical device manufacturing firms, which are projected to sustain a high market position. 

Asia Pacific is a leading virology and bacteriology testing market powered by emerging economies like China, Japan and India. Such nations created the most revenue owing to increasing diagnostic R&D facilities, increased occurrence of infectious diseases, and the production of advanced but inexpensive test equipment.

Competition and Companies

Some of the Key players in Virology Market include Boehringer Ingelheim Corporation, Novartis International AG, GlaxoSmithKline plc, Abbott Laboratories, Merck and Co. Inc, Siemens, Johnson & Johnson, AstraZeneca AB, Roche and others.