Balbirnie: 'Excitement' as Ireland eye maiden Test victory in Bangladesh
Ireland have lost all three of their previous Test matches since becoming a full member of the International Cricket Council in 2017.
They are also scheduled to play two more Test matches against Sri Lanka later this month.
"(There is) a lot of excitement coming into this week," Balbirnie said ahead of the match starting on Tuesday in Dhaka.
Many in the squad have never played a Test before and the length of the game and the conditions would be challenging, he said.
"It's certainly very hot out there. It's a new ground for us as a team," Balbirnie said.
"A lot of our guys have been brought up on white-ball cricket, in T20 cricket. A batter (in Tests) has to set himself to bat for as long as possible. Bowlers have to be as disciplined as possible. That's going to be the biggest challenge."
Ireland found the preceding 50-over and T20 series against Bangladesh tough going, losing 2-0 and 2-1 respectively.
The hosts will be without fast bowler Taskin Ahmed for the Test because of a side strain. He has been replaced in the squad by Rejaur Rahman Raja.
Bangladesh also denied permission to skipper Shakib Al Hasan and his deputy Liton Das to join the Indian Premier League until the end of the Test match.
"We are playing a full team after a long time. We have a good combination. We are all playing regularly, and in good touch," said all-rounder Mehidy Hasan ahead of the Test.