Viral Diagnostic Test Kits Market Poised to Garner Maximum Revenues by 2026

Posted by Aman Jaiswar on August 9th, 2019

Viral infections and pandemics have been exerting a significant economic cost burden on health care systems around the world. Despite development of new treatment paradigms for viral infections, infections such as the human immunodeficiency virus (HIV) and hepatitis have been responsible for numerous deaths globally. Health care providers are constantly engaged in the development of accurate and rapid diagnostic test kits for viral infections. There has been a gradual shift toward new techniques and methods of diagnosis of viral infections, including nucleic acid amplification test (NAAT), which have shown promising results with improved accuracy and reduced time of diagnosis. Clinical management of viral infections and efficient screening are two major pillars of viral infection management. There is an improved focus on efficient screening and diagnosis of viral infections for prevention of diseases and timely treatment. This has led to the development of new and advanced viral diagnostic test kits.

Rise in incidence of viral infections such as hepatitis, respiratory syncytial virus, and human immunodeficiency virus (HIV) worldwide is expected to boost the Viral Diagnostic Test Kits Market. Moreover, outbreak of new viral infections in the recent past such as Ebola, hemorrhagic fever, and swine influenza a virus is driving demand for new and innovative virus diagnostic test kits across the world. According to the World Health Organization (WHO), in 2013, an estimated 35 million people were suffering from HIV, while an estimated 350 to 400 million people were carriers of the chronic hepatitis B virus in 2014.

Furthermore, hepatitis B and hepatitis C viral infections are responsible for approximately 780,000 deaths and 500,000 deaths, respectively, each year globally. This is leading to a rise in demand for virus diagnostic test kits. Additionally, new techniques and recent developments in the methods applied for virus testing have led to the introduction of new rapid diagnostic test kits. This is projected to further fuel the expansion of the global virus diagnostic test kits market from 2018 to 2026. However, high price of new test kits is a major restraining factor for the adoption of these kits in emerging countries, which are currently relying on traditional and time consuming test kits for virus detection.

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The global virus diagnostic test kits market can be segmented based on type, test, end- user, and region. Based on type, the global virus diagnostic test kits market can be classified into influenza test kits, hepatitis test kits, human immunodeficiency virus test kits, respiratory syncytial virus test kits, and others. In terms of test, the global virus diagnostic test kits market can be categorized into traditional tests (cell culture test, complement fixation test (CFT), Haemagglutination inhibition test, and others) and rapid tests (nucleic acid amplification test (NAAT), immunoassay test, next generation sequencing (NGS), and mass spectrometry). Based on end-user, the global virus diagnostic test kits market can be segmented into diagnostic & clinical laboratories, academic & research institutes, contract research organizations, and others.

In terms of region, the global virus diagnostic test kits market can be categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2017. Introduction of new and rapid test kits, regulatory approvals for these kits, and rise in prevalence of viral infections among the general population are some of the major factors driving the virus diagnostic test kits market in North America in 2018. The market in Middle East & Africa is projected to expand at a comparatively higher CAGR from 2018 to2026, owing to a large patient pool suffering from viral infections, including HIV and other pandemic infections.