PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1454108
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1454108
Arbovirus Testing Market size was valued at USD 1,110 Million in 2023, expanding at a CAGR of 5.8% from 2024 to 2032.
Arboviruses (arthropod-borne viruses) are spread among individuals by mosquitos and other blood-sucking insects like ticks. Arbovirus testing identifies antibodies produced by the immune system in response to a specific arbovirus infection, as well as the virus's genetic material in blood, cerebrospinal fluid, or other bodily fluids.
Arbovirus Testing Market- Market Dynamics
Growing cases of dengue and chikungunya drive market growth
One of the most important tools in preventing the spread of these neglected tropical diseases (NTDs) is arbovirus testing. The World Health Organization (WHO) estimates that 1.7 billion people, or around one-fifth of the world's population, largely live in developing and lower-income countries, and that at least one non-communicable disease (NTD) must be diagnosed and treated each year. The pandemic of dengue and chikungunya NTD affected over 40% of Africa. These diseases are more prevalent in communities with limited resources that are difficult to access and located in tropical regions because of unsanitary conditions that encourage the spread of viruses. As a result, countries like Brazil, Yemen, India, Bangladesh, China, and a number of Central and East African countries account for the majority of NTD cases globally. Thereby, driving the market growth.
Arbovirus Testing Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.8% over the forecast period (2024-2032)
Based on test type segmentation, the RT-PCR Based Test segment is expected to hold a prominent market share over the forecast period
Based on end-use segmentation, the Hospitals segment is expected to hold the largest market share during the forecast period
Based on region, North America held the largest market share in 2023
The Global Arbovirus Testing Market is segmented based on Test Type, End-use and Region.
Based on the test type, the Arbovirus Testing market is bifurcated into RT-PCR Based Test, ELISA Based Test and Others. The RT-PCR Based Test segment is expected to hold a prominent market share over the forecast period owing to its benefits. The detection limit is a significant distinction between PCR testing and ELISA (enzyme-linked immunosorbent assay) assays. A PCR approach may detect in the range of 103 CFU/ml, whereas an ELISA-based assay typically has a limit of 104-106 CFU/ml. An ELISA approach often needs a longer enrichment time because to this variation in detection limit. The PCR method is more sensitive and specific than the ELISA method even in terms of sensitivity. When PCR is used in place of ELISA, less waste is generated in the laboratory. Therefore, all of these variables indicates RT-PCR-based assays dominating the arbovirus testing market over the duration of the projection.
Based on the end-use, the global Arbovirus Testing market is segmented into Diagnostic Centers, Hospitals, Public Health Laboratory and Others. The Hospitals segment is expected to hold the largest market share during the forecast period owing to the large pool of patients.
Arbovirus Testing Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to hold the largest market share during the forecast period. The increasing prevalence of non-transmissible diseases (NTDs) like dengue and chikungunya, increased healthcare expenses, swift technology advancements, assertive government initiatives, and an increase in patient awareness of the value of arbovirus testing in detecting these NTDs may all be contributed to this. During the projection period, Asia-Pacific is anticipated to have the fastest CAGR. Increased government funding, the availability of qualified medical personnel, and the focus of multinational corporations on diagnostic enterprises for developing innovative and distinctive IVD products such arbovirus test kits are some of the factors predicted to drive area growth.
Abbott, Thermo Fisher Scientific, Inc., NovaTec Immundiagnostica GmbH, Agilent Technologies, Inc., and other prominent companies are market participants. Major companies are pursuing a number of tactics, such as joint ventures, product creation, and alliances, to increase their market share.
In May 2023, Astellas Pharma Inc. declared its commitment to the Global Health Innovative Technology Fund, which will support research and development of vaccines, diagnostic instruments, and drugs to help combat a range of infectious diseases, including the neglected tropical diseases.
GLOBAL ARBOVIRUS TESTING MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Laboratory Corp. of America Holdings
DiaSorin SpA
Bio Rad Laboratories Inc.
Agilent Technologies Inc.
Abbott Laboratories
NovaTec Immundiagnostica GmbH
PerkinElmer Inc.
Response Biomedical Corp.
Tecan Group Ltd.
Thermo Fisher Scientific Inc.
AESKU.GROUP GmbH and Co. KG
BioAgilytix Labs
ARUP Laboratories
Copley Scientific Ltd.
Distek Inc.
Fluke Biomedical
Mayo Foundation for Medical Education and Research
Merck KGaA