The global virology market is expected to experience robust growth, with a projected compound annual growth rate (CAGR) of 5% from 2022 to 2032. The market, valued at US$ 2.07 billion in 2021, is set to reach a notable US$ 3.53 billion by 2032. This growth is being driven by the increasing awareness of viral infections and the growing demand for diagnostic tools and antiviral treatments across the globe.
One of the key factors fueling this growth is the rise in public awareness campaigns surrounding viral diseases such as the flu, Zika virus, sexually transmitted diseases (STDs), AIDS, and Ebola virus. As governments and health organizations intensify their efforts to educate the public about the risks and prevention strategies related to these infections, there is a surge in demand for virology-related healthcare services, testing, and treatments.
The market’s expansion can also be attributed to significant advancements in research and technology, leading to the development of more effective antiviral therapies and diagnostic tools. As the global focus on viral disease prevention strengthens, healthcare providers and pharmaceutical companies are increasingly investing in virology-related research to meet the growing demand for innovative solutions.
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Key Takeaways:
- The virology market is projected to grow at a 5% CAGR from 2022 to 2032, reaching a valuation of US$ 3.53 billion by 2032.
- Rising public awareness campaigns about viral infections like flu, Zika, AIDS, STDs, and Ebola are major drivers of this market growth.
- Advances in research and technology, particularly in antiviral treatments and diagnostics, are accelerating market expansion.
- Increased investment in virology research by healthcare providers and pharmaceutical companies is fueling the demand for innovative solutions.
How is the Competitive Landscape in the Virology Market?
GlaxoSmithKline plc, Abbott Laboratories, Boehringer Ingelheim Corporation, Merck and Co. Inc., Novartis International AG, Siemens, Johnson & Johnson, AstraZeneca AB, and Roche are among the key competitors in the global virology market.
The report consists of key players contributing to the virology Market share. This exclusive report analyzes the competitive landscape and virology Market share acquired by key players to strengthen their virology market position.
Recent Developments in the Virology Market
- The generic competition in the virology market will be at a high pace from 2022 onward. By 2017 end, a few essential patents are approaching expiry, including Tamiflu, Sustiva, Tenofovir, Combivir, Relenza, and Telbivudine. Following the expiry of these blockbuster drugs, the market is estimated to discover a dynamic competitive landscape of the virology market.
- Merck & Co. Inc. has many medication candidates in phase 2 for cancer, diabetes, cardiac arrest, and hepatitis C, as well as several candidates in phase 3 for breast cancer, atherosclerosis, Alzheimer’s disease, ebola, and HIV. The firm also has many additional prospects that are now being evaluated.
- Abivax, a well-known biotech firm based in Paris, France, has previously generated candidates against the dengue and chikungunya viruses. The business is now developing a couple of other options against HIV and Ebola.
- Nanoscale viral trap molecule technology, which is currently being researched, may be useful in identifying viral sickness.
- A novel adjustable gadget selectively captures viruses, detecting them with 100 times the sensitivity of conventional approaches.
- Another nanoparticle-based medication under development to treat viral illness is DRACO (Double-stranded RNA Activated Caspase Oligomerizer)
Key companies profiled
GlaxoSmithKline plc; Abbott Laboratories; Boehringer Ingelheim Corporation; Merck and Co. Inc.; Novartis International AG; Siemens; Johnson & Johnson; AstraZeneca AB; and Roche
Key Segments
By Product Type:
- Diagnosing Test
- Viral Infection Controlling Methods
- Antiviral Chemotherapy
- Interferons
By Application:
- Skin and Soft Tissue Infections
- Respiratory Tract Infections
- GI Tract Infections
- Urinary Tract Infections
- Eye Infections
- CNS Infections
- Sexually Transmitted Diseases
- Perinatal Infections
By End User:
- Hospitals
- Clinics
- Laboratories
- Diagnostic Centres
- Blood Banks
- Pharmacies
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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