Virology Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Diagnostic Test, Viral Infection Controlling Techniques, Antiviral Therapeutics, and Interferons); Application (Skin and Soft Tissue Infections, Respiratory Tract Infections, GI Tract Infections, Sexually Transmitted Diseases, Urinary Tract Infection, and Others); End User (Hospitals, Diagnostic Laboratories, Pharmaceutical and Biotechnological Companies, and Research and Academic Institutes) and Geography

The virology market is projected to reach US$ 5,276.48 million by 2028 from US$ 4,108.27 million in 2021; it is expected to register a CAGR of 3.6% from 2021 to 2028.

Virology is among the significant sections of the healthcare system. It has an extensive application in the vaccine development, diagnostics, treatment therapies, and others. The  virology market players are constantly involved in product innovations and developments to sustain the competition in the market. They explore various scopes for product innovations. For instance, for COVID-19, market players are investing significantly in the development of vaccines, testing kits, and other related products and services. Below are a few of the market developments related to the virology market.

• In August 2021, the U.S. Food and Drug Administration (FDA) approved the first COVID-19 vaccine known as the Pfizer-BioNTech COVID-19 Vaccine. It will be marketed as ComiRNAty (Koe-mir’-na-tee). The vaccine is intended to prevent COVID-19 disease in individuals aged 16 years and above. It is also available under emergency use authorization (EUA).
• In April 2021, CerTest Biotec launched its CE-marked COVID-19 diagnostic test for the BD MAX System.
• In May 2020, Bio-Rad received FDA approval for emergency use authorization for the COVID-19 total antibody test.
• In May 2020, Aalto Bio Reagents launched New Recombinant Eukaryotic SARS-CoV-2 S1-S2 Spike Proteins.
  

Thus, such active participation of the market players through product innovations and governments support in different countries bolsters the growth of the virology market. 

 

Market InsightsGrowing Adoption of Minimally Invasive and Non-Invasive Esthetic Procedures Drive Virology Market Growth

Viruses such as human immunodeficiency virus (HIV), flu virus, zika virus, Ebola virus, SARS-CoV-2, and poliovirus infect large population across the world. As the virus mutate and evolve continuously, drug resistance becomes a major challenge in viral infection management among the humans and animals. A virus transmits through various media based on its type. For instance, some viruses cause respiratory viral diseases, such as flu, common cold, and respiratory syncytial virus infection, and they are transmitted via droplets generated through coughing or sneezing, whereas some gastrointestinal viral diseases are transmitted through direct contact with the feces of infected people or through contaminated food or water. As per the UNAIDS  Global HIV & AIDS statistics, more than 37.7 million people across the world were infected by HIV in 2020.
The International Committee on Taxonomy of Viruses (ICTV) declared the novel coronavirus that caused COVID-19 as Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2) in February 2020. The virus has undergone mutation a couple of times since its outbreak, which has added to the severity of the COVID-19 pandemic. For instance, as per the COVID-19 tracker data by the Centers for Disease Control and Prevention (CDC), as of August 2021, the seven-day case rate per 100,000 is 299.4, and over 164,952 new cases are reported in the US. Moreover, as per the European Centre for Disease Prevention and Control, as of August 2021, the total count of COVID-19 cases reached ~36,307,572 patients in the European Economic Area (EEA). Thus, such rising prevalence of viral infections is driving the growth of the virology market. 

Virology Market Regional Insights

The regional trends and factors influencing the Virology Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Virology Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Virology Market Report Scope

Virology Market Players Density: Understanding Its Impact on Business Dynamics

The Virology Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Virology Market are:

1. Abbott
2. Johnson And Johnson Services, Inc.
3. F. HOFFMANN-LA ROCHE LTD.
4. THERMO FISHER SCIENTIFIC INC.
5. QIAGEN

Disclaimer: The companies listed above are not ranked in any particular order.

 

Type-Based Insights

Based on type, the virology market is further segmented into diagnostic tests, viral infection controlling techniques, antiviral therapeutics, and interferons. In 2021, the diagnostic test segment is expected to hold the largest share of the market, and viral infection controlling techniques segment is estimated to register the highest CAGR during 2021–2028. 

Application-Based Insights

Based on application, the market is segmented into skin and soft tissue infections, respiratory tract infections, GI tract infections, sexually transmitted diseases, urinary tract infection, and others. In 2021, the respiratory tract infections segment is estimated to hold the largest share of the market, and it is expected to register the highest CAGR during 2021–2028.
Companies operating in the virology market emphasize on adopting the product innovations strategy to meet the evolving customer demands across the world, which also permits them to maintain their brand name in the global market. 

Virology Market – Segmentation

 

By Type

• Diagnostic Test
  • DNA Virus Testing
  • RNA Virus Testing
  • Others
• Viral Infection Controlling Techniques
  • Active Prophylaxis
  • Passive Prophylaxis
• Antiviral Therapeutics
  • Virucidal Agents
  • Antiviral Agents
  • Immunomodulators
• Interferons 

By Application

• Skin and Soft Tissue Infections
• Respiratory Tract Infections
• GI Tract Infections
• Sexually Transmitted Diseases
• Urinary Tract Infections
• Others

By End User

• Hospitals
• Diagnostic Laboratories
• Pharmaceutical and Biotechnological Companies
• Research and Academic Institutes

By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Italy
  • UK
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of APAC
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA
• South and Central America
  • Brazil
  • Argentina
  • Rest of SCAM

 

Company Profiles

• Abbott
• Johnson & Johnson Services, Inc.
• F. Hoffmann-LA Roche Ltd.
• Thermo Fisher Scientific, Inc.
• Qiagen
• Illumina, Inc.
• Siemens AG
• GlaxoSmithKline Plc
• Gilead Sciences, Inc.
• AbbVie, Inc.pyright names given on respective websites.

The List of Companies - Virology Market

1. Abbott
2. Johnson And Johnson Services, Inc.
3. F. HOFFMANN-LA ROCHE LTD.
4. THERMO FISHER SCIENTIFIC INC.
5. QIAGEN
6. Illumina, Inc.
7. Siemens AG
8. Glaxosmithkline Plc
9. Abbvie Inc.
10. Gilead Sciences, Inc.

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Virology market.

• Highlights key business priorities in order to assist companies to realign their business strategies.

• The key findings and recommendations highlight crucial progressive industry trends in the global Virology market, thereby allowing players across the value chain to develop effective long-term strategies.

• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.

• Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.