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Virology Specimen Collection Market: Rising Prevalence of Viral Diseases and Emergence of Newer Pathogens are Boosting the Growth

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Virology Specimen Collection Market: Rising Prevalence of Viral Diseases and Emergence of Newer Pathogens are Boosting the Growth

July 06
11:29 2022
Virology Specimen Collection Market: Rising Prevalence of Viral Diseases and Emergence of Newer Pathogens are Boosting the Growth
Becton, Dickinson and Company (US), Quidel Corporation (US), Thermo Fisher Scientific Inc. (US), Trinity Biotech (Ireland), Titan Biotech Ltd. (India), Diasorin SA (Italy), Vircell S.L. (Spain), Copan Italia S.P.A (Italy), Puritan Medical Products Co. (UK), Hardy Diagnostics (US) are some of the key players
In February 2020, BD announced a partnership with Babson Diagnostic to enable small-volume blood collection for diagnostic testing.

The Growth in the Virology Specimen Collection Market is mainly driven by the rising prevalence of viral diseases, the increasing prevalence of human papillomavirus (HPV) and cervical cancer. Rising number of blood donations are among the factors boosting the growth of the market. Emerging economies such as India and Japan are providing lucrative opportunities for the players operating in the virology specimen collection market.

The rising prevalence of viral diseases such as SARS-CoV-2, AIDS, flu, EBOLA, Zika virus, and STDs is a major factor driving the demand for effective virology specimen collection. According to the WHO (July 2021), there were an estimated 37.7 million (30.2-45.1 million) people living with HIV at the end of 2020, over two-thirds of whom (25.4 million) lived in the WHO African Region. In 2020, 680,000 (480 000-1.0 million) people died from HIV-related causes, and 1.5 million (1.0-2.0 million) people acquired HIV. In addition, according to the WHO (July 2021), globally, there were an estimated 7 million new syphilis infections in 2020. This is expected further to drive the demand for virology specimen collection market.

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Virology Specimen Collection Market: Competitive Landscape:

Given the rise in blood donations, blood safety awareness, and healthcare expenditure across the globe, newer technologies are extensively used in high-income countries and will be adopted successfully in middle and lower-income countries in the next decade. However, many developing countries, such as India and China, currently rely on ELISA. This is a major inhibitor for the growth of the virology specimen collection market for NAT in the current timeframe. The high cost of advanced tests has driven the greater use of older, less efficient tests such as first-generation ELISA. Despite its limitations, this test is used in many parts of the world. For instance, the HIV-1 assays from Cepheid and Abbott are estimated to cost USD 17.95 and USD 25.00, respectively. By contrast, a consensus meeting of TB experts suggested that the cost for a replacement test for sputum smear microscopy should be in the range of USD 4-6. Therefore, while it is exciting that new diagnostic tools are becoming available to improve clinical care in austere environments, the cost per test is a key barrier to uptake and sustained use. This presents a need for reducing the prices of virology specimen collection products. Until this challenge is met and overcome, it will continue to hinder the growth of the market.

The top players of the global Virology Specimen Collection Market include:

– Becton, Dickinson and Company (US)- Quidel Corporation (US)- Thermo Fisher Scientific Inc. (US)- Trinity Biotech (Ireland)- Titan Biotech Ltd. (India) and many Other Players

There is a high degree of competition among the market players. Only major companies can afford high-capital investments as well as the high cost of R&D and manufacturing. This will prevent new entrants from entering this market.

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Growth Drivers of Virology Specimen Collection Market

The Zika virus and Babesia outbreaks, alongside announcements for their inclusion in virology specimen collection tests, indicate the need for innovation in virology specimen collection technologies, consumables, and instruments. Other countries have also undertaken initiatives to check for new and emerging diseases. For example, the prevalence of malaria in African regions and the possibility of mosquito-borne transfer of Zika has resulted in mandates for Zika virus screening in the region.

Emerging markets such as India, the Middle East, and Africa offer promising opportunities for players in the virology specimen collection industry due to their increasing disposable incomes and improving healthcare infrastructure. For instance, according to Statista (August 2021), India’s healthcare sector was worth about USD 160 billion in 2017. It was estimated to reach USD 372 billion by 2022 due to growing income levels, greater health awareness, and the rising incidence of lifestyle diseases. Currently, ELISA is widely used in India, with NAT registering relatively low penetration. NAT is still not mandatory in India, unlike the US, Canada, most of Europe, Japan, Korea, Singapore, Sri Lanka, UAE, South Africa, Thailand, and China. Almost 100 blood banks, including AIIMS, PGI Chandigarh, CMC Vellore, Medanta-The Medicity, and Narayana Hrudayalaya, are using NAT in ID-NAT format, and 40 blood banks are using the pooling technique. Similarly, the Indian government is taking initiatives to train doctors, hospitals, and blood banks to use NAT.

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North America is the largest regional market for virology specimen collection market

The global virology specimen collection market is segmented into four major regions, namely, North America, Europe, the Asia Pacific and Rest of the World. In 2020, North America accounted for the largest share of the virology specimen collection market. The large share of this region can be attributed to increasing number of blood donations in the region.

The major players operating in this market are Becton, Dickinson and Company (US), Quidel Corporation (US), Thermo Fisher Scientific, Inc. (US), Trinity Biotech (Ireland), Titan Biotech, Ltd. (India), Diasorin SA (Italy), Vircell S.L. (Spain), Copan Italia S.p.A. (Italy), Puritan Medical Products, Co. (Guilford, ME) and Hardy Diagnostics (US).

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