Monkeypox Testing Market Size Worth $1,968.47 Million By 2030 | CAGR: 4.5%

The global monkeypox testing market size is expected to reach USD 1,968.47 million by 2030, according to a new study by Polaris Market Research. The report “Monkeypox Testing Market Share, Size, Trends, Industry Analysis Report, By Technology (PCR, LFA, and Others); By End Use; By Region; Segment Forecast, 2022-2030” delivers a thorough understanding of the dynamics of the market now and analyses how the market will grow in the future.

Rising cases of monkeypox and awareness among individuals, particularly in developed economies favor market growth. As per the statistics published by the WHO, as far as January 2021, around 2,000 people have had monkeypox in 42 non-endemic countries. To increase the diagnosis rate, in June 2022, Cepheid & BioGX collaborated to develop a PCR test for monkeypox testing, using the former’s GeneXpert system. Currently, there are more than 40, 000 GeneXpert systems being used across the globe.

As of October 2022, the WHO has documented 75,348 cases and 33 fatalities from monkeypox in 109 nations, territories, and regions linked to the global outbreak of 2022. The Americas continue to have the largest number of new cases per area.

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Rapid and precise results produced by the PCR technique make it possible to link the growth of this sector to the spread of PCR testing. The great majority of test kits available use PCR-based analysis as well. PCR diagnostic tools have been an excellent detection tool which was primarily used detection tool in the COVID-19 pandemic.

For faster diagnosis, companies are allocating automated systems and funds to tackle the situation in a better way. In line with this, in May 2022, Qiagen, introduced NeuMoDx automated PCR platform, to improve surveillance & disease outbreaks in non-endemic regions. Similarly, in August 2022, VIIV, an entity of the GSK allocated USD 50,000 in funds to support testing, awareness, and patient outreach for monkeypox in community settings, within the US.

Monkeypox Testing Market Report Highlights

• In 2021, due to its widespread availability and quick turnaround times, the PCR technology category made for the biggest portion of total revenue.
• During the study period, the hospitals & clinics are anticipated to register the highest growth rate, due to high patient admissions.
• The global monkeypox testing market is highly competitive owing to the existence of large market players with a global presence including Aegis Sciences Corp, BD, Chembio Diagnostics, Laboratory Corp, Mayo Clinic Laboratories, QIAGEN, Quest Diagnostics, Sonia Healthcare, Sonora Quest Laboratories, Thermo Fisher Scientific.

Polaris Market Research has segmented the monkeypox testing market report based on technology, end-use, and region:

Monkeypox Testing, Technology Outlook (Revenue - USD Million, 2018 - 2030)

• Polymerase Chain Reaction (PCR)
• Lateral Flow Assay
• Others

Monkeypox Testing, End-use Outlook (Revenue - USD Million, 2018 - 2030)

• Hospitals and Clinics
• Diagnostics and Laboratory
• Others

Monkeypox Testing, Regional Outlook (Revenue - USD Million, 2018 - 2030)

• North America
  • U.S
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa