Demand for Arthropod-borne Viral Infections Testing to Expand Twofold by 2030; Adoption on Upsurge amid COVID-19 Pandemic
Subtropical and tropical regions register a high proportion of Arthropod-borne viral infections. According to the WHO, dengue is most common arbovirus disease, with nearly 40% of the world’s population at risk. Governments across the world are working closely with private companies and are actively involved in the development of rapid diagnostics for Arthropod-borne viral detection.
Arthropod Borne Viral Infections Testing Market
A recent market study published by Future Market Insights on the Arthropod-borne viral inf...
Owing to such developments, there has been increasing demand for ELISA-based tests, creating an absolute opportunity for growth of the Arthropod-borne viral infections testing market. FMI - a well-established name in the market research domain - forecasts that, the Arthropod-borne viral infections testing market will close in on a valuation of around US$ 2 Bn by the year 2029.
The coronavirus (COVID-19) pandemic is raging across continents, especially in North America and Europe. Governments as well the healthcare sector are racing to flatten the curve. Several diagnostic tests to treat COVID-19 patients have been availed currently, with more receiving emergency approvals. A majority of these testing methods are based on reverse transcription polymerase chain reaction (RT-PCR) and enzyme-linked immunosorbent assays (ELISA). While the former is the current standard approach for COVID-19, the latter delivers faster clinical outcomes. The current alarming situation is accenting the need for Arthropod-borne viral infections testing more than ever.
“Driven by tech-enabled advancements, manufacturers are focused on widening the application radar of diagnostics to other infections, and, as such, propelling the growth of the Arthropod-borne viral infections testing market.”
Key Takeaways of Arthropod-borne Viral Infections Testing Market Study
- ELISA-based tests would contribute over half of the total Arthropod-borne viral infections testing market revenue.
- Owing to increasing acceptance in developing countries, ELISA-based tests are the preferred choice among customers.
- Public health laboratories will remain the key revenue generator in the Arthropod-borne viral infections testing market.
- The Middle East & Africa continues to engage market players, given the expanding patient pool suffering from viral infections. East Asia is also offering lucrative opportunities, owing increasing healthcare programs that financially aid the development of molecular testing kits such as ELISA and RT-PCR.
Strong Market Consolidation Activities Will Boost the Testing Market
At present, the Arthropod-borne viral infections testing market is characterized by a limited number of players, with a majority of them based in the U.S. Mergers and acquisitions are considered a differentiating strategy to penetrate into untapped markets and strengthen one’s market position. Manufacturers are mainly focused on developing new diagnostics based on microarray technology and mass spectrograph. Microarray technology majorly covers the detection of nucleic acid fragments of different Arthropod-borne pathogens that will help in identifying viral genotypes and serotypes. However, the technology is still under the developmental stage.
Want more insights?
Arthropod-borne viral infections testing market, a new study by Future Market Insights, opines on the application of Arthropod-borne viral infections testing from 2014 to 2018, and presents demand projections for 2019 to 2029, on the basis of test type (ELISA-based tests, RT-PCR-based tests, and immunochromatography rapid diagnosis) and end user (hospitals, public health laboratory, diagnostic centers, and others), across seven prominent regions.
For additional information, write to the analyst at [email protected]
About the Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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