Global Virology Market Forecast to 2028 – Tremendous Growth Potential in Developing Economies & Continuous Demand for Cost-Effective Products – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Virology Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Type; Application; End User” report has been added to ResearchAndMarkets.com’s offering.
The virology market is projected to reach US$ 5,276.48 million by 2028 from US$ 4,108.27 million in 2021; it is expected to register a CAGR of 3.6% from 2021 to 2028.
Viruses such as human immunodeficiency virus (HIV), flu virus, zika virus, Ebola virus, SARS-CoV-2, and poliovirus infect large population across the world. As the virus mutate and evolve continuously, drug resistance becomes a major challenge in viral infection management among the humans and animals.
A virus transmits through various media based on its type. For instance, some viruses cause respiratory viral diseases, such as flu, common cold, and respiratory syncytial virus infection, and they are transmitted via droplets generated through coughing or sneezing, whereas some gastrointestinal viral diseases are transmitted through direct contact with the feces of infected people or through contaminated food or water. As per the UNAIDS Global HIV & AIDS statistics, more than 37.7 million people across the world were infected by HIV in 2020.
The International Committee on Taxonomy of Viruses (ICTV) declared the novel coronavirus that caused COVID-19 as Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2) in February 2020. The virus has undergone mutation a couple of times since its outbreak, which has added to the severity of the COVID-19 pandemic.
For instance, as per the COVID-19 tracker data by the Centers for Disease Control and Prevention (CDC), as of August 2021, the seven-day case rate per 100,000 is 299.4, and over 164,952 new cases are reported in the US .
Moreover, as per the European Centre for Disease Prevention and Control, as of August 2021, the total count of COVID-19 cases reached ~36,307,572 patients in the European Economic Area (EEA). Thus, such rising prevalence of viral infections is driving the growth of the virology market.
Key Market Dynamics
Market Drivers
- Rising Prevalence of Viral Infectious Diseases
- Increasing Product Launches
Market Restraints
- Availability of Alternative Products and High Cost of Production of Products
Market Opportunities
- Tremendous Growth Potential in Developing Economies
Future Trends
- Continuous Demand for Cost-Effective Products
Key Topics Covered:
1. Introduction
2. Global Virology Market – Key Takeaways
3. Research Methodology
4. Virology Market – Market Landscape
5. Virology Market Key Market Dynamics
6. Virology Market – Global Analysis
7. Virology Market Analysis – By Type
8. Virology Market Analysis – By Application
9. Virology Market Analysis – By End-User
10. Global Virology Market – Geographic Analysis
11. Impact of COVID-19 Pandemic on Global Virology Market
12. Virology Market-Industry Landscape
13. Company Profiles
- Abbott
- Johnson And Johnson Services, Inc.
- F. HOFFMANN-LA ROCHE LTD.
- THERMO FISHER SCIENTIFIC INC.
- QIAGEN
- Illumina, Inc.
- Siemens AG
- Glaxosmithkline Plc
- Abbvie Inc.
- Gilead Sciences, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/o11lr6
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