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Arbovirus Testing Market is Expected to Reach Approximately US$ 1.5 Bn By 2025
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Global Arbovirus Testing Market: Forecast Highlights
According to Persistence Market Research estimates, the global arbovirus testing market is anticipated to reach a significant value by 2025 end. In 2017, the valuation of the global arbovirus testing market stood at about US$ 970 Mn and is expected to reach a value of more than US$ 1.5 Bn by the end of the year of assessment. The global arbovirus testing market is projected to expand at a value CAGR of 5.6% throughout the period of forecast, 2017-2025.
Global Arbovirus Testing Market: Segmentation Analysis
The global market for arbovirus testing is segmented on the basis of test type, end user and region.
By test type, ELISA-based tests segment is the largest with respect to market share. According to Persistence Market Research, this segment is expected to reach a value of just under US$ 895 Mn by the end of the year of assessment. The RT-PCR based tests segment is projected to grow at the highest rate to register a CAGR of 6.0% throughout the forecast period.
By region, Asia Pacific (APAC) is highly lucrative for the growth of the arbovirus testing market. The arbovirus testing market in Asia Pacific is expected to show a higher market estimation of US$ 421.8 Mn by 2025 end. On the other hand, the arbovirus testing market in the Middle East and Africa region is the second largest and is poised to register the highest CAGR of 6.5% during the period of forecast.
By end user, the public health laboratory segment is expected to dominate the global market with a high market valuation. This segment is also poised to reflect a high CAGR of 6.2% throughout the forecast period and witness high growth potential in the coming years.
Global Arbovirus Testing Market: Dynamics Impacting Growth
There are several factors impacting the growth of the global market for arbovirus testing. Aspects such as increasing prevalence of arbovirus, rapid serology tests, integrated government initiatives, development of microarray technology, high risk quotient with regions having huge population calling for arbovirus testing and increasing incidence rate are pushing the growth of the global arbovirus testing market. However, factors such as difficulties in differential diagnosis, under-diagnosis of arbovirus, syndromic approach to arbovirus diagnosis, lack of awareness and limited availability of diagnostic testing procedures in various regions are posing hindrances to the growth of the global arbovirus testing market.
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Global Arbovirus Testing Market: Competitive Assessment
The fact based and extensive research report on the global arbovirus testing market includes detailed analysis on various key players involved in arbovirus testing. Profiles of top companies such as Thermo Fisher Scientific, Inc., Roche Molecular Systems Inc., Abbott Laboratories, InBios International, Inc., NovaTec Immundiagnostica GmbH, Euroimmun AG (Sub. PerkinElmer), Quest Diagnostics and Certest Biotec S.L. are analyzed and included in this market study.
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