Viral Diagnostic Test Kits Market Report 2024

The viral diagnostic test kits market size has grown strongly in recent years. It will grow from $15.07 billion in 2023 to $16.26 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The increase during the historical period can be linked to rising healthcare expenditures, expanding global travel, a rise in chronic viral infections, growing demand for home testing kits, and advancements in personalized medicine.

The viral diagnostic test kits market size is expected to see strong growth in the next few years. It will grow to $22.23 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to the increasing incidence of Ebola virus infections, rising cases of hemorrhagic fever, growing prevalence of viral infections, increasing occurrences of respiratory syncytial virus, and a rise in hepatitis prevalence. Key trends anticipated during this period include technological advancements, point-of-care testing, integration with digital health records, AI and data analytics applications, and advancements in next-generation sequencing.

The increasing prevalence of viral infections is anticipated to drive the growth of the viral diagnostic test kits market in the coming years. Viral infections are caused by microscopic viruses that invade host cells, replicate within them, and can result in a wide range of symptoms, varying from mild to severe, affecting different parts of the body. This rise in infections is attributed to factors such as global travel, urbanization, climate change influencing vector-borne diseases, and the emergence of new viral strains capable of causing outbreaks or expanding into new regions. Viral diagnostic test kits play a crucial role in identifying and confirming specific viral infections by detecting viral nucleic acids (RNA or DNA), antigens, or antibodies in biological samples such as blood, saliva, or nasal swabs. For instance, according to the Centers for Disease Control and Prevention (CDC), in 2022, there were 2,126 new cases of acute hepatitis B reported alongside 16,729 newly reported cases of chronic hepatitis B in the United States. Additionally, 14 jurisdictions in the US reported rates of acute hepatitis B higher than the national average, highlighting the need for effective diagnostic tools. Therefore, the increasing prevalence of viral infections is a key driver behind the growth of the viral diagnostic test kits market.

Leading companies in viral diagnostic test kits market are focusing on developing innovative products such as rapid diagnostic tools to maintain their market position. Rapid diagnostic tools are designed to swiftly and accurately detect various medical conditions, including infectious diseases and metabolic disorders. For example, in July 2021, Abbott Laboratories introduced the Panbio COVID-19 Antigen Self-Test Kit in India, enabling adults and children to quickly detect the SARS-CoV-2 virus. This self-test kit provides results in just 15 minutes, utilizing a nasal swab and offering clear instructions for accurate self-administration. It aims to support public health efforts in controlling the spread of COVID-19 by providing individuals with a convenient tool for timely diagnosis and immediate action.

In June 2023, Avacta Life Sciences, a UK-based company in the life sciences sector, completed the acquisition of Coris Bioconcept for £7.4 million ($9.35 million). This strategic move by Avacta is aimed at bolstering its rapid diagnostic test portfolio, thereby strengthening its capabilities in healthcare diagnostics and expanding its market presence, particularly in the fields of infectious disease management and point-of-care testing. Coris Bioconcept, based in Belgium, specializes in the development and manufacturing of rapid diagnostic test kits, primarily focusing on lateral flow tests designed to detect viral and bacterial pathogens.

Major companies operating in the viral diagnostic test kits market are F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers AG, Becton Dickinson and Company, Quest Diagnostics Incorporated, Grifols S.A., Hologic Inc., PerkinElmer Inc., bioMérieux SA, Quidel Corporation, Sysmex Corporation, Bio-Rad Laboratories Inc., QIAGEN N.V., Ortho Clinical Diagnostics, Myriad Genetics Inc., Seegene Inc., OraSure Technologies Inc., Meridian Bioscience Inc., DiaSorin S.p.A., Trinity Biotech plc, Biodesix Inc.

North America was the largest region in the viral diagnostic test kits market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the viral diagnostic test kits market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the viral diagnostic test kits market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Viral diagnostic test kits are instruments used in medicine to detect viral infections in clinical samples from patients. These kits typically contain reagents, antibodies, or other substances that interact with specific viral antigens or genetic material, generating a measurable signal. They can detect viral particles, antigens, or genetic material (such as RNA or DNA) in samples such as blood, saliva, nasal swabs, or other bodily fluids.

The main types of viral diagnostic test kits include traditional tests and rapid tests. Traditional viral diagnostic tests are established laboratory-based methods that involve culturing the virus, detecting viral antigens, or measuring antibody responses. Examples of these tests include direct fluorescent antibody (DFA) tests, immunochromatographic assays, reverse transcriptase polymerase chain reaction (rt-PCR) based tests, agglutination assays, solid phase assays, flow through assays, and others. These tests are used by various end-users including research laboratories, clinics, hospitals, and others.

The viral diagnostic test kits market research report is one of a series of new reports that provides viral diagnostic test kits market statistics, including viral diagnostic test kits industry global market size, regional shares, competitors with viral diagnostic test kits market share, detailed viral diagnostic test kits market segments, market trends, and opportunities, and any further data you may need to thrive in the viral diagnostic test kits industry. This viral diagnostic test kits research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The viral diagnostic test kits market consists of sales of viral culture kits, molecular diagnostic kits, antibody detection kits, antigen detection kits, and multiplex PCR kits. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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