Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Global Virology Testing Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global virology testing market is on a significant upturn, with a projected growth from $4.61 billion in 2022 to an anticipated $7.18 billion by 2027, marking a compound annual growth rate (CAGR) of 9.2%. A newly published research report, available on our website, thoroughly delineates this expansive market, offering detailed insight into the driving forces, market players, and future prospects.
Recent developments, including the Russia-Ukraine conflict, have posed substantial challenges for markets worldwide. Despite these hurdles, the virology testing market maintains a robust growth trajectory. Influenced by the upsurge in commodity prices and supply chain disruptions, its resilience and expansion reflect the sector's critical role in health and disease management.
Increasing Incidence of Viral Infections Spurs Market Growth
The incessant rise in viral infections propels the market forward. Effective management of these infections and the pressing need for accurate virological assessments are encapsulated in the report's comprehensive analysis. With instances such as the noticeable rise in varicella cases in Texas, the demand for sophisticated virology testing methodologies becomes apparent.
Strategic Acquisitions Shape Market Dynamics
The report uncovers pivotal transactions that refine industry contours, citing Element Materials Technology's acquisition of Analytical Lab Group as a quintessential augmentation of service capability and reach. North America emerges as a dominant region, while Asia-Pacific is categorized as the fastest-growing in the virology testing landscape.
Majestic Market Players and Product Innovation
- Johnson & Johnson Services Inc.
- F. Hoffmann-La Roche AG
- Merck & Co. Inc.
and other noteworthy industry leaders, as identified in the report, reflect the competitive ecosystem of the virology testing market. The trend of product innovation stands out, with companies like Sentinel CH. SpA introducing cutting-edge systems designed to streamline viral infection diagnostics. Such innovative strides underscore the report’s highlighting of technological advancements fueling market progress.
For more information on the virology testing market and to explore the wealth of data presented in the latest research publication, please visit our website and navigate to the virology testing market report section.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $5.05 billion |
| Forecasted Market Value (USD) by 2027 | $7.18 billion |
| Compound Annual Growth Rate | 9.2% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes
- Johnson & Johnson Services Inc.
- F. Hoffmann-La Roche AG
- Merck & Co. Inc.
- Thermo Fisher Scientific Inc.
- Abbott Laboratories
- GlaxoSmithKline plc
- Boehringer Ingelheim International GmbH
- Siemens Healthineers AG
- Eurofins Scientific SE
- Agilent Technologies Inc.
- Grifols S.A.
- WuXi AppTec Co. Ltd.
- Hologic Inc.
- Sartorius AG
- bioMerieux SA
- Bio-Rad Laboratories Inc.
- Qiagen NV
- Cepheid Inc
- Eiken Chemical Co Ltd.
- DiaSorin SpA
- Fujirebio Diagnostics Inc.
- Microbac Laboratories Inc.
- Trinity Biotech plc
- Diamedix Corporation
- Biospherix Ltd
- Imquest Biosciences Inc
- Novogene Co Ltd.
- Scienion AG
- Vircell SL
- Sequenom Inc.
For more information about this report visit https://www.researchandmarkets.com/r/9rv82x
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