Norovirus Diagnostics Market was estimated at US$ 47.6 million in 2020, and Persistence Market Research’s most recent industry analysis predicts that it will grow at a CAGR of about 8.4% over the next five years (2021-2031). Even a small number of norovirus virions can cause infection, making the norovirus sickness extremely contagious (1-10 virions particles). Only RT-PCR, which is reliable and sensitive, is now available for virus detection. However, carrying out these procedures takes time and calls for specialised tools. Therefore, businesses are concentrating on creating quick point-of-care (POCT) tests such lateral flow immunoassays or biosensors for norovirus detection. Over the coming years, rising need for quick testing to identify norovirus is anticipated to fuel market expansion.
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Key Market Study Conclusions
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- Rapid tests, which have a 56% market share based on product, are the most accurate and sensitive tests available.
- With a 50% market share, diagnostics laboratories are the market leaders.
- With a value share of over 32.6% in the global market, North America is predicted to be the dominant region.
- With a value share of 29% throughout the projected period, Europe is expected to overtake North America as the second-largest leading market.
- Japan held a 50% share of the East Asian market in 2020. However, it is anticipated that the Chinese market will expand rapidly at a CAGR of 14.1% throughout the anticipated time frame.
- According to a PMR analyst, “growing knowledge about testing and increasing prevalence of norovirus illnesses are likely to drive market expansion over the next 10 years.”
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Marketplace rivalry
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- Collaborations, partnerships, and agreements have become important growth methods used by industry participants. Key stakeholders are enhancing their current product portfolios and extending their geographic reach by concentrating on these initiatives.
- Danaher Corporation finalised the $4 billion acquisition of Cepheid, a molecular diagnostics firm, in August 2016.
- Exalenz Bioscience was purchased by Meridian Biosciences in April 2020 for roughly US$ 89 million.
Life Sciences and Transformational Health Expertise of Persistence Market Research
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- In order to provide decision-makers with sound input and strategic recommendations, our team of industry analysts, which includes management graduates, medical professionals, engineers, and project managers, provides insights on emerging therapy areas, diagnostic tools, medical devices and components, reimbursement and market access, biotechnology, and life science research products and services.
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- In its most recent analysis, Persistence Market Research presents a historical demand assessment for the years 2016 through 2020 and estimates for 2021 through 2031, providing a unique viewpoint and practical insights on the norovirus diagnostics market.
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- The research project is based on end-user (hospitals, diagnostics laboratories, and clinics) and product (quick test kits, PCR kits, and ELISA-based kits) across seven significant regions of the world.
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About Us
Persistence Market Research’s Expertise in Life Sciences and Transformational Health, Our expert team of industry analysts comprising management graduates, medical professionals, engineers, and project managers provides insights on emerging therapy areas, diagnostic tools, medical devices and components, reimbursement and market access, biotechnology, and life science research products and services to equip decision-makers with sound inputs and strategic recommendations. Click here to learn more about how we zero in on the critical aspects of this industry.
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