Serological Testing Market size is forecast to reach $4.8 billion by 2025, growing at a CAGR of 8.73% during the forecast period 2020-2025. Serological test is a type of medical testing that works on blood samples by testing the presence of antibodies against viruses. The blood of a person who has been exposed should be full of antibodies against the virus. Serology testing demand has increased in order to better quantify the number of cases of COVID-19, including those that is set to recovered or not have the symptoms. Growing concerns for testing of COVID-19 and increasing technological advancements of serological testing are major factors driving the growth of the market. Rising need for prevention of COVID-19 global pandemic and rising cases of diseases like hepatitis, tuberculosis, and AIDS across the world is set to further enhance the [FURL=https://www.industryarc.com/Report/19286/serological-testing-market.html]Serological Testing Market[/FURL] demand during the forecast period 2020-2025.Key Takeaways
Europe region dominates the Serological Testing Market in 2019 owing to the need of a robust method of testing COVID-19 virus, following an alarming rate of COVID-19 affected and deaths in the European countries of Italy and UK. Increasing investments in healthcare by key market players has further helped in market demand of Serological Testing. The Serological Testing Market scope for different regions will be provided in the final report.
Growing cases of COVID-19, HIV, Hepatitis C and other infectious diseases, rising investments by key players for better technological development of serological testing and growing financial cooperation by various state funds have helped in significant growth of Serological Testing Market. Well-established health care infrastructure and rising geriatric population is estimated to drive industry growth during the forecast period 2020-2025.
Detailed analysis on the Strength, Weakness and opportunities of the prominent players operating in the market will be provided in the Serological Testing Market report.
Increasing costs of manufacturing and availing serological tests and invention of better testing methods are anticipated to hamper the market growth of the Serological Testing Industry.
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Drivers – Serological Testing Market
Growing cases of global pandemic COVID-19 and other infectious diseases
Increasing state funds
Serological Testing top 10 companies are Accelerate Diagnostics, Creative Diagnostics, Chembio Diagnostic Systems Inc., Randox Laboratories Ltd., Eurofins Scientific, Dickinson and Company, Quest Diagnostics, Thermo Fisher Scientific, Inc., Beckman Coulter and Becton among others.
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