Virology and Bacteriology Testing Market Value Projected to Expand by 2024

Posted by Aman Jaiswar on June 25th, 2019

The study of viruses and bacteria is referred to as virology and bacteriology respectively and includes the identification, classification, and characterization of the various species. The demand for virology and bacteriology testing has increased of late with the growing incidence of various viral and bacterial infections.

The report offers an in-depth assessment on the overall Virology and Bacteriology Testing Market, highlighting the leading factors driving and hampering the market. The key opportunities in store and the challenges that lie ahead have also been identified and industry experts have offered their inputs on how to make the most of this information and gain ground in the virology and bacteriology testing market.

The global market for virology and bacteriology testing is studied on the basis of technology, end user, disease, and geography. Based on technology, the market comprises molecular diagnostics, information technology, immunoassays, diagnostic imaging, chromatography, monoclonal antibodies, artificial intelligence, gel microdroplets, differential light scattering, flow cytometry, and liposomes. The key end users of virology and bacteriology testing are clinics, hospitals, diagnostic centers, laboratories, and blood banks. By geography, the market report covers Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa.

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Virology and bacteriology testing can be done on a variety of diseases pertaining to the respiratory system, urinary tract, and bloodstream, gastrointestinal and periodontal diseases, sexually transmitted diseases caused by viruses and bacteria, and several other ailments such as connective tissue and joint diseases, central nervous system infections, cardiovascular ailments, and skin diseases.

The growth in the global market for virology and bacteriology testing is attributed mainly to the surge in respiratory infections and disorders. According to the World Health Organization, each year at least 3 million people all over the world die from chronic obstructive pulmonary disease (COPD) and at least 235 million people suffer from asthma. This significant patient population, in addition to a growing population of people suffering from tuberculosis, has greatly driven the demand for virology and bacteriology testing. Apart from this, the global market is fueled by rising healthcare expenditure across developed and developing economies, major technological advancements in the field of R&D, and increasing investments by public and private bodies. On the other hand, however, concerns pertaining to reimbursement policies and regulatory scenarios in several developing countries.

It has been observed that most companies have been relying on product development and commercialization in order to gain a larger share in the virology and bacteriology testing market. In addition to this, strategic collaborations also form a key component of many organizations’ growth strategy and recent geographical expansions have enabled these companies to strengthen their hold in the global virology and bacteriology testing market.

Among the key geographical segments covered in the report, North America and Europe are two of the most mature markets for virology and bacteriology testing. Growth in these regional markets has been strong over the years owing to the rapid adoption of advanced diagnostic and testing methods, higher spending on healthcare, presence of favorable government policies, and the presence of advanced clinical laboratories and medical device manufacturing companies. A rising geriatric population and the increasing incidence of various infectious diseases also contribute toward the growth of the virology and bacteriology testing market in North America and Europe.