Viral Antigens Market to Exhibit 9% CAGR through 2030, Buoyed by Launch of Rapid Diagnostic Kits for COVID-19 Tests
Published : 08 Jun 2020 Industry: Healthcare
The advent of advanced therapies and test kits that employ the use of virus components such as antigens has paved way for the treatment several diseases. In recent years, the viral antigens market has been witnessing substantial investments, robust R&D activities and strategic collaborations. In 2018, ACROBiosystems announces collaboration with ProMab Biotechnologies for immunotherapy research using viral antigens for vaccine development and launch of new diagnostic kits.
Acquisition of smaller companies to expand their geographical presence is also one of the key trends followed by leading manufactures in the viral antigens market. Besides, increasing government initiatives to spread awareness related to various viral diseases are boosting the sales of viral antigen products.
The global viral antigens market was valued at US$ 134.2 Bn in 2019, and is projected to witness strong growth during the forecast period (2020- 2030).
Key Takeaways of Viral Antigens Market Study
- A large number of companies manufacturing viral antigen products, especially influenza and hepatitis virus antigens, contributed significantly to the market growth.
- North America and Europe collectively hold over 70% of the global viral antigens market value, owing to rapid launch of new products and significant advance in biopharmaceutical research in these regions.
- In terms of end user, research institutes are expected to dominate the viral antigens market during the forecast period.
- The viral antigens market is highly consolidated. Some of the prominent manufacturers include Bio Rad Laboratories, Viral Antigens, Inc. (Meridian), Microbix Biosystems Inc. and few others.
“Use of viral antigens for developing COVID-19 antibody detection kits has significantly led to a demand spurt. Growing efforts to counter the rising cases of coronavirus are thus expected to increase the sales of viral antigens,” says the Fact.MR analyst.
Increasing Consolidation among Key Players and Technology Advancements
The viral antigens market is expanding due to growing incidence of acute diseases such as cancers, hepatitis, AIDS, & infectious diseases and increasing need for early diagnosis. Key players in the market are channelizing efforts to increase flexibility, productivity, and throughput capabilities and redefine control productivity.
The viral antigens market shows a high level of consolidation. Collaborations, research and development initiatives, new service launches, and mergers & acquisitions among global and regional players are characteristic of the overall competition in the global viral antigens market.
For instance, in 2020, Advanced Biotechnologies Inc. introduced their novel, quantitated viral RNA products to meet the demand for use in research facilities and clinical labs requiring RNA extracted from highly-purified virus.
Looking for More Information?
The research study on viral antigens market by Fact.MR incorporates an unbiased assessment of key demand-driving factors and trends, which have shaped the landscape of viral antigens market over 2015-2019 and includes a detailed assessment of key parameters that are anticipated to exert influence over 2020-2030. Market statistics have been presented on the basis of component (influenza viral antigens, coronavirus antigens, zika virus antigens, ebola virus antigens, dengue virus antigens, herpes simplex virus viral antigens, rotavirus viral antigens, epstein-barr virus antigens, hepatitis virus antigens, parainfluenza virus antigens, measles virus antigens, adenovirus type 2 hexon viral antigens, mumps/parotitis virus antigens, varicella zoster virus antigens and others), Application (ELISA, immunoassay, hemagglutination, radioimmunoassay, immunoperoxidase staining, immunofluorescence, electron microscopy and others)and end user (blood banks, clinics, laboratories, hospitals, diagnostic centers and research institutes) across seven major regions.
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