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Monkeypox Testing Market Size
Monkeypox testing market size was valued at around USD 1.7 billion in 2023 and is estimated to grow at 4.5% CAGR from 2024 to 2032. Monkeypox testing refers to the diagnostic processes used to detect the presence of the monkeypox virus in an individual. Monkeypox is a viral zoonotic disease that is similar to smallpox, though generally less severe. Samples are collected from skin lesions, including swabs from the surface of the lesion or fluids from the vesicles and pustules. In some cases, throat swabs, blood, urine, or other bodily fluids may also be used.
The rising advancements in diagnostic research is a significant driver for the monkeypox testing market. For instance, according to the National Institutes of Health, in 2023, nucleic acid testing such as real-time PCR. It is considered the gold standard for diagnosing monkeypox, offering high sensitivity and specificity. Several real-time PCR assays have been developed for different targets in the monkeypox virus genome, providing a reliable means of detection.
Furthermore, increasing adoption of nucleic acid amplification testing, advancement in vaccines, increasing demand for self-testing, surging utilization of PCR technologies, government initiatives and funding, and increasing education & awareness, are the promoting factors advancing the growth of the market.
Why is the use of laboratory monkeypox testing increasing?
The laboratory testing segment of the market accounted for USD 1.1 billion in 2023 due to its ability to provide precise detection of the monkeypox virus for ensuring high sensitivity and specificity.
What is the size of the monkeypox testing market?
The global monkeypox testing industry size was valued at USD 1.7 billion in 2023 and is estimated to grow at 4.5% CAGR from 2024 to 2032 due to rapid diagnostic advancements, and growing government support.
Who are the leading monkeypox testing industry players?
Abbott Laboratories, Aegis Sciences Corporation, Applied DNA Sciences, Inc., Becton, Dickinson and Company, BioGX, bioM
Why is the demand for polymerase chain reaction (PCR) monkeypox testing rising?
The polymerase chain reaction (PCR) segment of the monkeypox testing market is forecasted to reach USD 1.3 billion by 2032 due to its high accuracy, rapid results, established technology, and crucial role in epidemiological studies and outbreak management.