Dengue Testing Market to Account for Approximately US$ 739.4 Mn Revenues by 2025
Posted: Jun 07, 2018
Government tendering and partnerships between diagnostic kit manufacturers are expected to provide long-term opportunities to the manufacturers in the dengue testing market. Governments in countries of Latin America and Asia Pacific are laying emphasis to eradicate diseases that have a higher infection rate by providing free diagnosis tests and medication to the underprivileged with the help of various government-funded programs. However, in order to achieve these objectives, the local authorities need a constant supply of related diagnostic kits. Governments rely on tendering or partnerships with manufacturers for delivering the required kits. Such kind of mechanisms also provide a stable financial flow to the manufacturers for a particular period.
These are some of the important findings of the latest report released by Persistence Market Research which is titled as ‘Dengue Testing Market: Global Industry Analysis 2012–2016 and Forecast 2017 – 2025’. Besides the qualitative analysis on the market dynamics operating in the global dengue testing market, the report also features a comprehensive quantitative assessment of the various segments and regions that are prominent in this market. As per the numbers that are given in this report, the global dengue testing market was valued at US$ 451.6 Mn in 2017 and is forecasted to reach a valuation of US$ 739.4 Mn in 2025, displaying a CAGR of 6.4% during the per iod of assessment 2017-2025.
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Global Dengue Testing Market: Dynamics
To control the spread of dengue fever, reduce the number of deaths and prevent its reoccurrence in the future, governments across the world have adopted various comprehensive dengue control policies that basically focus on prevention and cure. The multi-pronged efforts for dengue control include provision of diagnosis and treatment facilities for dengue fever at all the health centers and adoption of preventive measures. Various countries have set up their own national programs such as the National Dengue Prevention and Control Program in countries such as Indonesia, Brazil, India and Philippines. The World Mosquito Program, formerly known as Eliminate Dengue is helping to protect the global population from mosquito-borne diseases. Such type of interventions are boosting the global dengue testing market all over the world.
However, despite the high level of awareness for dengue prevention and cure, there are various challenges such as inadequate funding and resources and a lack of sound strategy to respond to the increasing problems related to dengue outbreaks in various regions of the world. Rapid urbanization, lack of sanitation, increase in international trade and mobility of population restraint the efforts to control dengue. In addition, lack of well-organized dengue control programs in collaboration with different sectors and agencies also restraints the market growth of dengue testing.
Global Dengue Testing Market: Segmentation and Forecast
The global dengue testing market is segmented on the basis of product type, end-user and region.
ELISA based tests segment accounted for 46.6% share in 2016 and is projected to account for 46.5% share by 2025 end in the global dengue testing market.
The hospitals segment was valued at US$ 196.9 Mn in 2017 and is projected to reach a valuation of US$ 334.4 Mn in 2025, registering a CAGR of 6.8% during the period of assessment.
Middle East and Africa dengue testing market was valued at US$ 139.7 Mn in 2017.
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Global Dengue Testing Market: Competition Landscape
In this report, the major companies that are functioning in the global dengue testing market have been featured in the competition landscape section. Some of the companies that have been featured in this section include Abbott Laboratories, NovaTec Immundiagnostica GmbH, Euroimmun AG (PerkinElmer), Quest Diagnostics, OriGene Technologies Inc., F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Certest Biotech S.L., Abnova Corporation and InBios International, Inc.
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