Virology Testing Market -Regional Insights
On the basis of Geography, VirologyTesting Market is segmented into North America, Latin America, Europe, AsiaPacific, Middle East, and Africa. North America is projected to dominate thevirology testing market over the forecast period. According to the Centers forDisease Control and Prevention (CDC), around 5,251 deaths were reported due toinfluenza infection in 2015.
According to the NationalAmbulatory Medical Care Survey: 2015 data findings, around 16.8 million peoplevisit to physician for treatment of infectious and parasitic diseases in U.S.Moreover, according to a study from the Society for Risk Analysis, 2016, GDPloss of a viral pandemic outbreak in the U.S. was recorded between US$ 34.4billion and US$ 45.3 billion in 2015.
Furthermore, robust healthcareinfrastructure and highest healthcare spending in world makes the U.S. mostlucrative market. However, Asia Pacific is expected to witness high CAGR due tooutbreak of viral influenza and largest patient pool infected with HIV.
Virology testing consist ofdiagnostic methods that help in early detection of the disease such ashepatitis, influenza, HIV, sexually transmitted disease, RCV, and other viralassociated disease. Virology testing examines for detection of viral antigens,nucleic acids, and antibodies in the given sample in order to confirm thepresence of particular viral infection. There are more than 100 viral diseasesidentified.
In order to confirm viralinfections, virology testing inculcates various methods. Culture medium basedmethod in which virus is confirmed by colony formation over culture has beentraditionally used since long time. Although this method is widely acceptableand easy to perform, it is often time consuming, as it takes few days to weeksto confirm presence of particular virus. It is a serious limitation especiallyin viral pandemics where loss of time could result in more widespread infectionand delay in management of the viral infection.
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New advanced molecular basedvirology testing methods has been evolved in recent past such as immunoassay,nucleic acid based amplification testing methods (PCR based methods), massspectrometry based detection methods and next generation genome sequencingmethods, which are accurate, quick, and provides result for diversified viralinfections.
Virology Testing Market- MarketDynamics
Virology testing market isprojected to witness significant growth during forecast period with risingprevalence of virus originated diseases such as flu, hepatitis, AIDS, and STDs,Ebola, Influenza based viral infections, severe acute respiratory syndrome fromcoronavirus, hemorrhagic fever etc. across world. Early and fast diagnosis ofvirus infection is very essential to start treatment course.
According to the World HealthOrganization (WHO), January 2018 factsheet, all types of influenza incombination causes annual epidemics about 3 to 5 million cases with severestage of illness, which results in the 290 000 to 650 000 deaths worldwide annually. Although rapid diagnostictests are majorly used, PCR based techniques are being adopted for detection ofinfluenza.
According Report on GlobalSexually Transmitted Infection Surveillance published in 2015 by WHO, in 2012,an estimated 357 million new infections, which is equivalent to roughly 1million patients per day were reported for the four curable sexuallytransmitted disease such as chlamydia, gonorrhea, syphilis, and trichomoniasis.
Furthermore, advances inanti-viral therapy in terms of detection techniques, medication, and vaccinesare expected to drive the virology testing market growth. Worldwide efforts aregoing on to find novel vaccines and novel medication for treating viralresistant diseases. For instance, Pritelivir is investigational drug for herpessimplex virus (HSV) by AiCuris has proven to be very effective as compared tothe current standard antiviral treatments for genital herpes in Phase IItrials. Extensive research has been conducted worldwide for treatment of highepidemic viral disease such as Ebola, Dengue, and Malaria.
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New technologies for detectingand curing viral disease could help in market expansion. For instance, thenanoscale viral trap molecule technology, which is under research at presentcan be applicable in diagnosing a viral disease. An innovative tunable deviceselectively traps viruses detecting them with 100 times better sensitivity thanthe current available techniques. Double-stranded RNA Activated CaspaseOligomerizer (DRACO) is another nanoparticle based drug in research to treatviral disease.
Virology Testing Market -Competitive Landscape
Some of the key players operatingin the virology testing market include F. Hoffmann-La Roche AG., Bio-Rad Laboratories Inc. , Hologic Inc.,Abbot Healthcare, Fujirebio Diagnostics Inc., Thermo Fisher Scientific Inc., Cepheid,bioMerieux SA, Qiagen, Diasorin, Scienion AG, Siemens AG Grifols, Eiken Chemical Co Ltd., Sequenom, andDiamedix Inc.
Key Development
In 2018, Bruker Corporationacquired Hain Lifescience GmbH, a molecular diagnostics company. Thisacquisiotn will expand the Bruker Corporation’s molecular diagnostic productportfolio.
In 2018, QIAGEN N.V. and NeuMoDxMolecular, Inc. entered into strategic partnership to commercialize two newfully integrated systems for automation of PCR (polymerase chain reaction)testing. These next-generation systems are specifically designed to helpclinical molecular diagnostic laboratories process.
In 2017, Quidel Corporationentered into definitive agreement to acquire Triage MeterPro cardiovascular(CV) and toxicology assets and the B-type Naturietic Peptide (BNP) assaybusiness from Alere Inc.
In 2015, Eurofins Scientificacquired Diatherix Laboratories, Inc. which offers clinical laboratoriesservices on a multiplexing platform for the detection of infectious diseases.
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