The transport media market is estimated to reach USD 3,101.3 million in 2023, which will increase to USD 4,210.6 million, with a 4.6% compound annual growth rate, by 2030.
The growth of this industry is because of the rising R&D on viral illnesses, increasing need for pre-clinical and diagnostic testing, and the surging occurrence of infectious ailments like influenza and herpes.
For example, in 2022, around 400,000 individuals died from influenza globally. Likewise, approximately 4 billion individuals have herpes. Moreover, the growing count of government initiatives to enhance the acceptance of testing kits is also boosting the industry.
The viral transport media category, based on product type, is leading the industry, with a 35% share, in 2023. This can be because of the unexpected outbreak of infectious ailments like COVID-19 and monkeypox, which boost the requirement for testing and diagnosis among the infected people.
North America is dominating the industry. This is because of the surging number of diagnostic tests, rising R&D on infectious ailments, well-established healthcare system, and the existence of numerous pharma and biotech businesses.
Basically, the surging occurrence of infectious illnesses, particularly viral ailments, is a main factor that assists in revenue generation for industry players.
APAC will advance at the fastest compound annual growth rate during this decade, because of the rising prevalence of infectious illnesses like Lyme disease, tuberculosis, and COVID-19.
Moreover, the number of people with infectious illnesses is quite high in APAC, particularly in India and China. Therefore, several industry players have arrived to satisfy the vast unmet necessity for diagnosis.
It is because of the increasing research & development in viral ailments and the mounting incidence of infectious illnesses, the transport media industry will continue to progress in the coming years.
