The Arbovirus Testing Market to be Worth US$ 1,919.7 Million by 2030
Reports and Insights (R&I) has published a new report titled, “Arbovirus Testing Market: Opportunity Analysis and Future Assessment 2022-2030”
Global Arbovirus Testing Market, By Type (Antibody Tests, Nucleic Acid Amplification Testing), By End-User (Diagnostic laboratories, Hospitals, Research Centers, Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2022 and 2030.
The arbovirus testing market is estimated to reach at a value of US$ 1,255.5 Mn by the end of 2022 and expected to reach at a value of US$ 1,919.7 Mn by 2030 with a significant CAGR of 5.4%.
As per the report, the rise in incidence rates of Arbovirus among the population across the globe is primarily boosting the growth of the global Arbovirus Testing Market. “Arbovirus”, short for arthropod-borne virus, does not refer to one particular virus. Rather, it refers to a type of virus transmitted via insects that bite and feed on blood.
Basically, Arbovirus (Arthropod Borne Virus) is used to describe infection caused by viruses that spread to people through infected arthropods like mosquitoes, ticks and others. This includes a large family of viruses. In fact, there are over 600 known arboviruses, and more than 80 of them are known human pathogens. The resulting illnesses can range from mild to severe. Owing to such a broad range, there is huge demand for arbovirus diagnostics in the global market, hence giving a positive growth to the global arbovirus testing market.
Notably, a high proportion of arboviruses associated with human and animal disease circulate in tropical, and subtropical regions, where mosquitoes, and other flying insects, tend to be abundant.
However, many arboviruses also circulate amongst wildlife species in temperate regions of the world. Despite the global distribution of viruses such as West Nile Virus (WNV), dengue virus, bluetongue virus and now Chikungunya (CHIKV), most other arboviruses are generally endemic to specific regions of the world, thus propelling the growth of the global arbovirus testing market.
Moreover, the recent advancements in technology and emerging rapid serology tests across the world is likely to boost the growth of the global arbovirus testing market during the forecast period. In addition to that, on a global scale, dengue virus may be the most challenging, infecting 100 to 390 million people and leading to 12,500 deaths per year. It spreads mostly through mosquitos in underdeveloped, highly populated regions.
For instance, WHO has reported that the number of dengue cases reported increased over 15-fold over the last two decades, from 505,430 cases in 2000 to over 2,400,138 in 2010 and 3,312,040 in 2015. Deaths from 2000 to 2015 increased from 960 to more than 4032, which strongly supports the increase in the incidence of arbovirus diseases. Attributing to such factors, the global arbovirus testing market is expected to grow positively in the coming years. However, some factors such as the lack of in vitro facilities, lack of awareness, and limited availability of diagnostic testing procedures may resist the growth of the global arbovirus testing market.
R&I Study identifies some of the key participating players in the Arbovirus Testing Market globally are Abbott, Becton, Dickinson and Company, Merck KGaA, Bio-Rad Laboratories, bioMerieux SA, Hologic, Inc., MedMira Inc., QIAGEN, Roche Molecular Systems, Inc., Danaher Corporation, Siemens Healthineers, and Thermo Fisher Scientific, Inc., among others.
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