Monkey Pox Testing Market Report 2024

This Monkey Pox Testing market report covers industry characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The monkey pox testing market size has grown steadily in recent years. It will grow from $1.4 billion in 2023 to $1.46 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The growth during the historic period can be attributed to rising government funding and initiatives, a growing demand for rapid tests, expanded testing capacity, increased research and development, and enhanced 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 anticipated growth during the forecast period can be attributed to increasing healthcare expenditures, advancements in point-of-care (POC) tests, a rise in at-home testing kits, a focus on accessibility and affordability, and improvements in healthcare infrastructure. Key trends expected during this period include the integration of testing with surveillance systems, incorporation with digital health tools, technological innovations, integration into public health systems, and progress in diagnostic research.

The rising incidence of monkeypox is expected to drive growth in the monkeypox testing market moving forward. Monkeypox is a rare viral disease caused by the monkeypox virus, which belongs to the orthopoxvirus genus, closely related to the smallpox virus. The increase in monkeypox cases is attributed to heightened human-to-human transmission, global travel, and decreased immunity due to the cessation of smallpox vaccination programs. Monkeypox testing plays a crucial role by enabling early identification of infected individuals, facilitating timely treatment and isolation to curb further spread, and aiding in tracking outbreaks and understanding transmission patterns. For example, in May 2022, the European Centre for Disease Prevention and Control (ECDC), a Sweden-based government agency, reported 1,152 suspected monkeypox cases from January to April 2022, resulting in 55 deaths and a case-fatality rate of 4.8%, across 54 health zones in 14 provinces. This represents an increase of 138 suspected cases and 14 deaths compared to the same period in 2021, leading to a higher case-fatality rate of 10.1%. Consequently, the growing incidence of monkeypox is driving the expansion of the monkeypox testing market.

Major companies in the monkeypox testing market are focusing on developing advanced diagnostic solutions, such as saliva-based monkeypox tests, to improve accuracy, convenience, and accessibility. Saliva-based monkeypox testing is a method that detects the monkeypox virus using saliva samples. For example, in July 2022, Flow Health, a US-based medical laboratory, introduced a saliva-based PCR test for monkeypox. This innovative test offers a more convenient and non-invasive method for virus detection, featuring high sensitivity and specificity, rapid genetic material amplification, and adaptability for various uses. It enables quantitative analysis of viral loads and direct pathogen detection while simplifying sample collection. A significant advantage of this test is its ability to detect the virus before visible lesions appear, which is crucial for early detection and reducing the spread of the virus.

In April 2021, Todos Medical Ltd., an Israel-based in vitro diagnostics company, acquired Provista Diagnostics Inc. for $7.5 million. This acquisition allows Todos Medical to promote Provista's proprietary Videssa breast cancer blood test, targeting individuals who have not undergone mammograms to reduce unnecessary biopsies. Additionally, it enables the expansion of Todos Medical's PCR-based monkeypox testing in the US. Provista Diagnostics Inc., a US-based developer of proprietary blood-based proteomic diagnostic, prognostic, and monitoring tests, is involved in monkeypox testing.

Major companies operating in the monkey pox testing 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.

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.

The countries covered in the monkey pox testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Monkeypox testing refers to the diagnostic process used to detect the presence of the monkeypox virus in an individual. This testing is crucial for identifying and confirming cases of monkeypox, a viral zoonotic disease that can be transmitted from animals to humans and between humans.

The main technologies for money pox testing are polymerase chain reaction (PCR), lateral flow assay (LFA), and others. Polymerase Chain Reaction (PCR) is a molecular technique used to amplify and detect the DNA of the monkeypox virus in patient samples, making it a key tool for accurate and early diagnosis of the disease. It enables rapid identification of viral genetic material, crucial for controlling outbreaks. Testing modes include laboratory testing and point-of-care testing, with end users such as hospitals and clinics, diagnostic laboratories, and others.

The money pox testing market research report is one of a series of new reports that provides money pox testing market statistics, including the money pox testing industry's global market size, regional shares, competitors with a money pox testing market share, detailed money pox testing market segments, market trends and opportunities, and any further data you may need to thrive in the money pox testing industry. This money pox testing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The monkey pox testing market consist of revenues earned by entities by providing services such as laboratory testing, diagnostic consultation, sample collection, result reporting, contact tracing, and follow-up. The market value includes the value of related goods sold by the service provider or included within the service offering. The monkey pox testing market also includes of sales of serological testing equipment, centrifuges, refrigeration units, biosafety cabinets, automated nucleic acid extractors, and microscopes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.