The monkey pox testing global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Monkey Pox Testing Market, 2024The monkey pox testing global market report 2024
Market Size –
The monkey pox testing market size has grown steadily in recent years. It will grow from $1.40 billion in 2023 to $1.46 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to increasing government funding and initiatives, increasing demand to provide rapid tests, increasing testing capacity, increasing research and development, and increasing public awareness campaigns.
The monkey pox testing market size is expected to see steady growth in the next few years. It will grow to $1.74 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%. The growth in the forecast period can be attributed to rising healthcare expenditures, development of point-of-care (POC) tests, growth in at-home testing kits, focus on accessibility and affordability, and healthcare infrastructure improvement. Major trends in the forecast period include integration of testing with surveillance systems, integration with digital health tools, technological advancements, integration into public health systems and advancements in diagnostic research.
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Scope Of Monkey Pox Testing MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Monkey Pox Testing Market Overview
Market Drivers –
The increasing incidence of monkeypox disease is expected to significantly drive the growth of the monkeypox testing market in the foreseeable future. Monkeypox is a rare viral disease caused by the monkeypox virus, which belongs to the orthodox virus genus related to the smallpox virus. The surge in monkeypox cases is attributed to increased human-to-human transmission, global travel, and reduced immunity due to discontinued smallpox vaccination programs. Monkeypox testing is crucial as it helps in the early identification of infected individuals, enabling timely treatment and isolation to prevent further disease spread. It also aids in tracking outbreaks and understanding the virus’s transmission patterns. For example, in May 2022, the European Centre for Disease Prevention and Control (ECDC), a Sweden-based government agency, reported that from January to April 2022, there were 1,152 suspected monkeypox cases, resulting in 55 deaths and a case-fatality rate of 4.8%, across 54 health zones in 14 provinces. Compared to the same period in 2021, there was an increase of 138 suspected cases and 14 deaths, leading to a higher case-fatality rate of 10.1%. Therefore, the rising incidence of monkeypox disease is significantly driving the growth of the monkeypox testing market through 2023, into 2024, and projected to continue into 2028.
Market Trends –
Major companies operating in the monkey pox testing market are focusing on developing advanced diagnostic solutions, such as saliva-based monkey pox testing, to enhance accuracy, convenience, and accessibility. Saliva-based monkey pox testing is a diagnostic method that uses saliva samples to detect the presence of the monkeypox virus. For instance, in July 2022, Flow Health, a US-based medical laboratory, launched the saliva-based (polymerase chain reaction) PCR test for monkeypox, revolutionizing the testing process by offering a more convenient and non-invasive method for virus detection. This innovative test stands out with its high sensitivity and specificity, rapid genetic material amplification, and versatility for various applications. It allows for quantitative analysis of viral loads and direct pathogen detection, all while simplifying sample collection. One of its key advantages is the ability to test individuals before visible lesions appear, which is crucial for early detection and reducing virus transmission.
The monkey pox testing market covered in this report is segmented –
1) By Technology: Polymerase Chain Reaction (PCR), Lateral Flow Assay (LFA), Other Technologies
2) By Mode: Laboratory Testing, Point Of Care Testing
3) By End-Use: Hospitals And Clinics, Diagnostic Laboratories, Other End-Uses
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Regional Insights –
North America was the largest region in the monkey pox testing market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the monkey pox testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies in the market are F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Becton Dickinson and Company, Mayo Clinic Laboratories, Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated, Sonic Healthcare Limited, bioMérieux S.A., Bio-Rad Laboratories Inc., QIAGEN N.V., Cepheid Inc., Aegis Sciences Corporation, Chembio Diagnostics Inc., Flow Health Inc., SeraCare Life Sciences Inc., BioGX Inc., Applied DNA Sciences Inc., CerTest Biotec S.L., Altona Diagnostics GmbH, Creative Biogene Inc., ACON Biotech (Hangzhou) Co Ltd.
Table of Contents
1. Executive Summary
2. Monkey Pox Testing Market Characteristics
3. Monkey Pox Testing Market Trends And Strategies
4. Monkey Pox Testing Market – Macro Economic Scenario
5. Global Monkey Pox Testing Market Size and Growth
…
32. Global Monkey Pox Testing Market Competitive Benchmarking
33. Global Monkey Pox Testing Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Monkey Pox Testing Market
35. Monkey Pox Testing Market Future Outlook and Potential Analysis
36. Appendix
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