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The arbovirus testing market share is expected to increase by USD 320.5 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.6%.
This arbovirus testing market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers arbovirus testing market segmentation by end-user (diagnostic laboratories, hospitals, research centers, and others) and geography (North America, Europe, Asia, and Rest of World (ROW)). The arbovirus testing market report also offers information on several market vendors, including Abbott Laboratories, Agilent Technologies Inc., Bio Rad Laboratories Inc., DiaSorin SpA, Laboratory Corp. of America Holdings, NovaTec Immundiagnostica GmbH, PerkinElmer Inc., Response Biomedical Corp., Tecan Group Ltd., Thermo Fisher Scientific Inc., AESKU.GROUP GmbH and Co. KG, ARUP Laboratories, BioAgilytix Labs, Copley Scientific Ltd., Distek Inc., Fluke Biomedical, Mayo Foundation for Medical Education and Research, and Merck KGaA among others.
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The growing cases of viral infections is notably driving the arbovirus testing market growth, although factors such as high cost of rapid diagnostic products may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the arbovirus testing industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Arbovirus Testing Market Driver
One of the key factors driving the global arbovirus testing market growth is the growing cases of viral infections. For instance, in recent years, Bangladesh witnessed an upsurge of vector-borne disease outbreaks in Dhaka city, especially dengue and chikungunya. The first-ever massive chikungunya outbreak in 2017 was followed by the largest outbreak of dengue in 2019. While dengue was causing small outbreaks every few years since its first appearance in 2000, the 2019 outbreak broke all records. It caused the hospitalization of more than 100,000 dengue patients, affecting every age group and socioeconomic stratum. Thus, the growing cases of arbovirus disease will lead to increased arbovirus testing, which, in turn, will positively impact the market in focus during the forecast period.
Key Arbovirus Testing Market Trend
Use of digital healthcare techniques in rapid diagnostics is one of the key arbovirus testing market trends that is expected to impact the industry positively in the forecast period. For instance, as a response, health programs have, among other interventions, incorporated digital tools such as mobile phones for supporting the control and prevention of infectious diseases such as arbovirus outbreaks. Vendors are also focusing on developing a mobile app that supports portable rapid diagnostics systems. For instance, Biosense Technologies has developed uChek, a smartphone-based portable diagnostic system that measures the microalbumin to creatine ratio. Even in low- and middle-income countries, smartphones and mobile technology capabilities are accelerating and leading to the transformation of healthcare as digital health technologies are improving the accuracy and accessibility of diagnostics. Such innovation will further boost market growth in the coming years.
Key Arbovirus Testing Market Challenge
One of the key challenges to the global arbovirus testing market growth is the high cost of rapid diagnostic products. The types of testing equipment used for diagnosis are associated with higher costs incurred by the end-users, such as hospitals, clinics, diagnostics laboratories. The average annual cost to treat hospitalized WNV patients costs can exceed USD 700,000 per patient. In addition, the process of collecting a reverse transcription-polymerase chain reaction (RT-PCR) sample is complicated, costly, and the sample preparation is difficult and requires highly trained operators. Ribonucleic acid (RNA) sample degradation is an issue that leads to false negatives. Therefore, the high cost of analyzers, assays, and related frequently used consumables create budget constraints for end-users and patients, which may hinder the market growth during the forecast period.
This arbovirus testing market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global arbovirus testing market as a part of the global life science tools and services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the arbovirus testing market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the arbovirus testing market encompasses successful business strategies deployed by the key vendors. The arbovirus testing market is fragmented and the vendors are deploying growth strategies such as investment in R and D to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The arbovirus testing market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the arbovirus testing market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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43% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for arbovirus testing in North America. Market growth in this region will be faster than the growth of the market in Europe and ROW.
The growing research on arbovirus, increasing healthcare expenditure in countries such as the US, and the presence of key vendors will facilitate the arbovirus testing market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The growth of the market was negatively impacted in 2020 due to the rapid spread of the COVID-19 pandemic. With the imposition of the lockdown, manufacturers in North America faced business losses, along with the challenge of survival. This further delayed the production of the arbovirus diagnostics kits owing to the high demand for COVID-19 detection kits. However, the various government initiatives such as mass vaccination drives and restrictions on public gatherings led to a decline in COVID-19 cases. Thus, the market in focus is expected to recover and grow during the forecast period.
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The arbovirus testing market share growth by the diagnostic laboratories segment will be significant during the forecast period. The presence of many laboratories for arbovirus testing, which works with hospitals and clinics, grew the demand for rapid diagnostic products, which, in turn, will drive the market growth through this segment.
This report provides an accurate prediction of the contribution of all the segments to the growth of the arbovirus testing market size and actionable market insights on post COVID-19 impact on each segment.
Arbovirus Testing Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.6% |
Market growth 2022-2026 |
$ 320.5 million |
Market structure |
Fragmented |
YoY growth (%) |
5.0 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 43% |
Key consumer countries |
US, Canada, Germany, UK, and China |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Abbott Laboratories, Agilent Technologies Inc., Bio Rad Laboratories Inc., DiaSorin SpA, Laboratory Corp. of America Holdings, NovaTec Immundiagnostica GmbH, PerkinElmer Inc., Response Biomedical Corp., Tecan Group Ltd., Thermo Fisher Scientific Inc., AESKU.GROUP GmbH and Co. KG, ARUP Laboratories, BioAgilytix Labs, Copley Scientific Ltd., Distek Inc., Fluke Biomedical, Mayo Foundation for Medical Education and Research, and Merck KGaA |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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