FMI’s New Report, titled, “Virology Market: Global Industry Analysis and Opportunity Assessment 2015-2025” offers 10-year forecast and analysis.
Valley Cottage, NY -- (SBWIRE) -- 06/06/2016 -- Virology is the part of micro biology or pathology deals with viruses and virus like agents, disease producing properties, cultivation and genetics. Viruses are responsible for various disease that must be controlled or developed. However, viruses also have certain beneficial properties that can be exploited for useful purposes such as gene therapy or vaccinology. Viruses are an obligate intracellular molecular parasites and they do not reproduce by binary fission. In general, viruses contain only one type of nucleic acid (either DNA or RNA) that carries the information necessary for viral replication. Viral test helps to diagnoses infection causing viruses. Viruses can be diagnosed by different procedures such as cell culture method, specific antibodies detection, antigen detection, virus nucleic acid detection, gene sequencing and hemagglutination assays. Viral infection can be controlled by immunoprophylaxis, antiviral chemotherapy and interferons.
Virology Market: Drivers & Restraints
Global virology market is projected to grow due to high prevalence of infectious diseases particularly, flu, hepatitis, sexually transmitted diseases, etc. Major drivers for global virology market are increasing strong research and development activities such as novel point of care diagnostic tests and treatments, increase in healthcare expenditure, and increase in the public awareness. Additionally, safety and quality of viral controlling therapy may possibly be a challenge for the growth of the global virology market. Moreover, numerous public awareness programs for STD's, Ebola, Flu disease are targeted to increase awareness levels are also being accompanied. Some major patent expiries are expected by the end of 2017 for Combivir, Sustiva, Tamiflu, Tenofovir, Telbivudine, and Relenza. The patent expiries of these blockbuster drugs will trigger generic competition in the virology market, making it more competitive. And also late stage pipeline drugs such as Elvitegravir, Inavir, Rapiacta, Rilpivirine and Vicriviroc are estimated to enter the market, which will positively impact the market. However, serious side effects and resistance towards antiviral drugs and stringent regulatory approvals for new treatment options with better levels of efficacy and safety are obstructing the global virology market.
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Virology Market: Segmentation
The global virology drugs market is classified on the basis of product type, application, end use and region.
Based on product type, the global virology market is segmented into the following:
Prions Diagnostic Test
Other Viral Tests
Viral Infection Controlling Methods
Active Prophylaxis (Vaccines)
Based on application type, the global virology market is segmented into the following:
Skin and Soft Tissue Infections
Respiratory Tract Infections
GI Tract Infections
Urinary Tract Infections
Sexually Transmitted Diseases
Based on end user type, the global virology market is segmented into the following:
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Virology Market: Overview
Global virology market growth is fast in North American region and is estimated to project remarkable CAGR growth throughout forecast period due to technological development of rapid and portable diagnostic tests. The second largest and fastest growing global virology market is Europe owing to development of healthcare infrastructure, accessibility and affordability of diagnostic tests for viral infectious diseases. The United States is the biggest market for antiviral drugs, followed by the U.K. and Japan. However, Asia-Pacific and African regions of the world are considered as the most promising markets in the forecast period. In Asia Pacific virology market, remaining to the presence of high unmet demand in India and China, is anticipated to grow at a relatively faster rate throughout the forecast period. On the basis of viral controlling methods immunoprophylaxis therapy and antiviral drugs are fastest-growing market segments in the estimated forecast period. On the basis of application, the sexually transmitted diseases, urinary tract infections, and respiratory tract infections are dominating as compared to other application types in global virology market. On the basis of diagnosis tests Hepatitis B, Hepatitis C, Human Immunodeficiency Virus (HIV), human papillomavirus (HPV), and other tests (Influenza, Ebola, and Dengue included) are assessed the foremost market share in the global virology market. By end use, hospitals and laboratories segments held 50% share in the global virology market and the trend is forecast to continue through 2025.
Virology Market: Key Players
The global virology market key players are GlaxoSmithKline, plc. Abbott Laboratories, AstraZeneca AB, Boehringer Ingelheim Corporation, Novartis International AG, Merck and Co. Inc., Johnson & Johnson, Roche, Siemens, etc.