The global viral antigens market is anticipated to be worth US$ 175.9 billion in 2022, with a high-value CAGR of 8.2% expected to reach US$ 388.1 billion by the end of 2032.
The viral antigens market is a critical component of the healthcare and diagnostics industry, playing a crucial role in the development of vaccines, diagnostic tests, and therapeutic drugs. Viral antigens, derived from various viruses, serve as essential tools in understanding and combating viral infections. In this overview, we will explore the dynamics, demand and supply trends, and the value chain of the viral antigens market.
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Viral Antigens Market Dynamics
The dynamics of the viral antigens market are driven by several key factors. First and foremost is the continuous evolution of viruses. Viruses mutate over time, leading to the emergence of new strains and variants. This necessitates the constant development and availability of viral antigens for research, diagnostics, and vaccine production.
The demand for viral antigens is closely linked to the global epidemiological landscape. Outbreaks of viral diseases, such as influenza, HIV, and COVID-19, create an urgent need for diagnostic tests and vaccines, driving the demand for specific viral antigens.
Moreover, research and development activities in the pharmaceutical and biotechnology industries contribute significantly to the dynamics of this market. Scientists and researchers require viral antigens for the development of novel therapies and vaccines, fostering innovation and advancements in the field.
Furthermore, regulatory approvals and quality standards play a crucial role in the viral antigens market. Stringent regulations ensure the safety and efficacy of diagnostic tests and vaccines, emphasizing the importance of high-quality viral antigens in these applications.
Viral Antigens Market Demand & Supply Trends
The demand for viral antigens is driven by various sectors, including healthcare, research, and diagnostics. In the healthcare sector, viral antigens are instrumental in the development of vaccines. As the world grapples with emerging infectious diseases and the need for vaccination campaigns, the demand for specific viral antigens remains high.
In the field of diagnostics, viral antigens are essential for the accurate detection and identification of viral infections. Diagnostic tests, such as enzyme-linked immunosorbent assays (ELISAs) and polymerase chain reaction (PCR) tests, rely on viral antigens to detect the presence of viral particles or antibodies in patient samples.
The supply of viral antigens is influenced by the production capabilities of biotechnology and pharmaceutical companies. These companies invest in research and development to produce high-quality viral antigens efficiently. The supply chain for viral antigens also includes biorepositories and laboratories that maintain collections of viral strains for research purposes.
The United States is poised for substantial growth in the viral antigens market, with an anticipated compound annual growth rate (CAGR) of 7.9% from 2022 to 2032.
Within North America, the U.S. leads the viral antigens market in 2022, driven by significant investments in research and development, a rapidly expanding technological sector, and the presence of numerous key viral antigen manufacturers. The escalating incidence of infectious diseases in the country further accentuates the demand for viral antigens.
The viral antigen market features prominent manufacturers, including Microbix Biosystems Inc., Bio Rad Laboratories, Creative Diagnostics, Aalto Bio Reagents, ProSpec-Tany TechnoGene Ltd., The Native Antigen Company, Meridian Bioscience, Inbios, Rekom Biotech, and Sekbio.
Technological advancements in the biopharmaceutical industry are opening substantial growth opportunities for viral antigen suppliers. Manufacturers are also emphasizing new product launches and development initiatives. Consequently, the introduction of numerous novel recombinant antigens for the expansion of antibody tests, particularly for COVID-19, is expected to expedite market growth.
In addition to organic strategies, key market players are adopting inorganic growth approaches to expand their businesses and secure a significant revenue share in the market.
In May 2020, the U.S. FDA granted Emergency Use Authorization (EUA) to Quidel Corporation for its Sofia 2 SARS Antigen FIA. This test represents a new category capable of rapidly detecting protein particles on or within the coronavirus by collecting samples from patients’ nasal cavities.
Furthermore, in May 2020, Bio-Rad Laboratories, a U.S.-based developer of high-quality products for the clinical diagnostics market, received EUA approval from the U.S. FDA for its SARS-CoV-2 Total Ab test. This blood-based test is designed to identify antibodies produced by the human body in response to COVID-19.
Fact.MR’s recent report provides comprehensive insights into the pricing strategies of key viral antigen manufacturers across different regions, their sales growth trajectories, production capacities, and potential technological advancements in the field.
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The viral antigens market is integral to the healthcare and diagnostics industry. It serves as a cornerstone for research, diagnostics, and vaccine development, particularly during outbreaks and pandemics. The dynamics of this market are shaped by evolving viral strains, healthcare demands, and regulatory standards, highlighting its critical role in public health and scientific advancement.
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