Viral Disease Diagnosis Market Forecast and CAGR
According to the latest research by Fact MR, Viral Disease Diagnosis Market is set to experience 8% growth during the year 2021-2031. According to the research, Viral Disease Diagnosis consist of estimating a load of either antigen or antigen-specific antibodies due to immune response. The growth of diagnostics is anticipated due to the rise in viral infections and diseases. According to WHO, the fatality rate due to Ebola virus disease is around 50% and annually 3-5 million cases of severe illness is caused due to influenza virus.
What is Driving Demand for Viral Disease Diagnosis?
Changes in the viral genome act as the primary challenge for the detection of the virus . Due to which the diagnosis becomes difficult. Hence, various new techniques like microarray techniques and rapid tests are emerging. The global virological diagnosis is expected to be driven by increased research and development for the detection of the virus. According to WHO, globally 1.5 million new infections occur per year. This upsurge in infection rates will directly have a positive impact on the viral diagnostic market.
The rising prevalence of COVID, which is caused by SARS-CoV 2 virus is anticipated to drive market growth over the forecast period. This accelerates the demand for diagnostic kits for the detection of viral disease. Apart from this, the demand for the rapid test which gives precise and accurate in a short period is also increasing. This acts as the driver for the market.
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The U.S. and Canada Viral Disease Diagnosis Market Outlook
U.S. and Canada dominates the viral diagnostic market because of the presence of major manufacturing companies. As compared to other developed countries, US spends 18% of its GDP on healthcare and treatment of diseases in this region. Apart from this there are various advancements occurring in the technologies which drives the market growth in this region.
For instance, In March 2020, Abbott launched the ID NOW COVID-19 test for rapid testing of the virus in the USA.
Who are the Key Manufacturers and Suppliers of Veterinary Home Diagnostics?
Some of the key players operating in the Viral Disease Diagnosis Market are
- Thermo Fisher Scientific
- Adaltis S.r.l
- R-Biopharm AG
- Siemens Healthcare Private Limited
- Toronto Bioscience
- Merck KGaA
- Abbott Laboratories
- BioMérieux SA
- Epitope Diagnostics Inc.
- F. Hoffmann-La Roche Ltd
- Elabscience Biotechnology Inc.
- Mylab Discovery Solutions Pvt. Ltd.
- Altona Diagnostics GmbH
- TIB Molbiol
- Luminex Corporation
- Dickinson and Company.
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Viral Disease Diagnosis Market Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
By Product Type
- Direct specimen examination
- Viral isolation
- Molecular techniques
- Microarray technique
- Serodiagnostic kits
- Diagnostic Centres
- Nursing homes
- HIV infection
- Influenza viruses.
- hepatitis C virus
- hepatitis B virus
- hepatitis A virus
- Influenza A and Influenza B viruses
- North America
- Latin America
- South Asia
- East Asia
- The Middle East and Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE: Although care has been taken to maintain the highest levels of accuracy in reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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