The global market for virus testing diagnostic kits is expected to get an upsurge in demand due to advancements in the healthcare industry. Viral infections can be diagnosed by studying blood samples, body fluids, or by examining the affected body parts using an electron microscope. Apart from some mild infections that can be diagnosed through the symptoms, all forms of severe or potentially severe infections require the testing of blood or body fluid. Hence, it has become important for healthcare units and medical professionals to equip themselves of virus testing diagnostic kits. A report by Transparency Market Research (TMR) titled “Virus Testing Diagnostic Kits Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025” expounds various factors that are anticipated to contribute to the growth of the market over the given timeframe. The market’s progress is quantified in terms of parameters such as market value, growth rate, and regional market share. It is apparent that the growth of the market for virus testing diagnostic kits depends on the concerted efforts of the healthcare industry to enhance its functioning. Hence, the report analyzes several dynamics prevalent in the healthcare industry that are anticipated to propel the demand within the market. The report can be used as a dipstick for market players to measure the potential of the by market players.
In recent times, a number of new viruses have been discovered that can adversely affect the health of individuals. This has inspired an awakening in the healthcare industry to promote the virus testing diagnostic kits that can detect viruses at early stages. Moreover, a propensity for self-diagnosis has also surfaced across the globe, which has created demand within the market. The reimbursement policies in several regions have seen fundamental changes that have accentuated the market. Furthermore, laboratory diagnostic techniques have also seen tremendous improvements due to governmental support. The aforementioned factors cumulatively boost the demand within the market and provide prolific growth opportunities for market players. However, the high costs of healthcare facilities in conjunction with the intractable regulatory framework for approval of diagnostic resting could hamper the growth of the market. Nevertheless, the fatality of viruses in the body and the prolonged suffering arising from these viruses will keep driving to demand for virus testing diagnostic kits.
The global market is segmented based on the type, application, end-user, and region. Based on the type of test, lateral flow tests, direct fluorescent antibody (DFA) tests, and agglutination assays, solid-phase assays, flow-through assays, and reverse transcription polymerase chain reaction (RT-PCR)-based tests. Influenza, measles, HIV, hepatitis, and rubella fall under the segmentation based on application. On the basis of end-user, hospitals, academic institutes, home care settings, and laboratories are the different types of segmentations.
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Geographically, the market is segmented into Europe, the Middle East and Africa, Asia Pacific, North America, and Latin America. In 2016, North America reigned supreme over all other regions and this affluence of the region is attributable to the rising adoption of cost-effective tests and self-diagnostic modes. The market in Asia Pacific endows stupendous growth opportunities and the region is expected to exhibit the highest growth rate over the coming years.
The prominent market players are Cortez Diagnostics, F. Hoffmann-La Roche, Quidel Corporation, Thermo Fisher Scientific, Dickinson and Company, Nectar Lifesciences, Bundi International Diagnostics,Becton, Alere Inc., Abbott, and Luminex Corporation.