MONKEYPOX (MPOX) DIAGNOSIS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Monkeypox (Mpox) Diagnosis Market Size and Trends

Global monkeypox (Mpox) diagnosis market is estimated to be valued at USD 1.97 Bn in 2024 and is expected to reach USD 2.62 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.

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With rising monkeypox outbreak globally, the need for rapid, sensitive, and accurate monkeypox diagnosis has increased tremendously. Various factors such as increasing R&D investments by key players for the development of novel diagnostic kits, growing public awareness about mpox infection, and availability of reimbursements for mpox diagnostic tests are expected to drive the market growth. However, lack of awareness in developing nations, high cost of diagnostic tests and delay in test results associated with conventional diagnosis may hamper the market growth.

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Top Strategies Followed by Global Monkeypox (Mpox) Diagnosis Market Players

• Established players have invested heavily in R&D to innovate industry-leading diagnostic solutions. Major companies like Abbott Laboratories and QIAGEN allocate over 15% of annual revenues to develop advanced products like polymerase chain reaction-based tests with higher accuracy and rapid turnaround times.
• Mid-level players stay competitive through cost-effective strategies. Companies like Siemens Healthineers focus on affordability without compromising quality. Their portfolio includes affordable immunoassays and antigen tests priced 20-30% lower than market leaders.
• Smaller participants have found niche success through technological differentiation. Abbott excels in portable diagnostics using microfluidics. Their handheld molecular diagnostic device provides lab-quality Mpox detection from non-clinical settings within an hour.

Emerging Startups in the Global Monkeypox (Mpox) Diagnosis Market

Several startups are bringing innovative technologies. Erba Transasia Diagnostics applies AI to digitally analyze patient samples, reducing diagnostic time from days to minutes. Qiagen leverages pathogen genomics, with databases to track virus evolution, aiding vaccine and therapeutic development.

Sustainability-focused startups are also emerging. Chembio Diagnostics, Inc. produces biodegradable test kits from renewable materials like bagasse and cornstarch. Their production process utilizes solar power, lowering carbon footprint by 60%.

Startups effectively address niche needs. While larger firms focus on general public health, sonic healthcare aids research through high-throughput mPox testing solutions. They partnered with universities developing animal models, expediting non-human primate studies.

Collaborations are also key for startups. Hologic Inc. joined a government incubator program, gaining expertise and pilot funding and the opportunity to trial their microarray-based test.