The introduction of cost-effective technologies, laboratory automation, and the rising acceptance of rapid immunoassay tests propel market growth. North America region emerged as the largest global nipah virus testing market, with a 45.39% market revenue share in 2022. Rapid urbanization and the rising investments in the research and development sector in emerging economies are also helping to drive market growth in this region.
Newark, March 06, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the Nipah virus testing market will grow the USD 1883.75 million in 2022 and reach USD 2741.03 million by 2030. In just eight years, the R&D of new vaccines and drugs, the rising incidence of COVID-19 infection, and the pressing need for effective & fast testing are also helping to drive market growth. Further, the increasing cases of DELTA variant cases, the expanding availability of advanced facilities for diagnosis, and the increase in disposable income are also anticipated to drive market growth during the forecast period.
Request market scope and parent market analysis sample PDF: https://www.thebrainyinsights.com/enquiry/sample-request/13142
Key Insight of the Nipah Virus Testing Market
North America to account for the largest market size during the forecast period
North America is expected to have the largest market share in the Nipah virus testing market. Key factors favouring the growth of the Nipah virus testing market in North America include the high spending on healthcare, the rising prevalence of chronic disorders in developing countries, increased adoption of novel kits, availability of R&D grants, and commercialization of the kits. Further, the technological advances, high prevalence of chronic & infectious diseases along with rising awareness among patients about the early diagnosis of these diseases are expected to drive market growth in this region.
The blood segment is expected to augment the Nipah virus testing market during the forecast period.
The blood segment held the largest market share in 2022 and is expected to continue during the forecast period owing to the increasing patient awareness regarding self-testing. Further, by 2030, the throat & nasal swab segment will likely dominate the market due to the rising focus on curbing the transmission of the novel coronavirus and preventing the progression of the disease to a life-threatening stage.
The ELISA kits segment accounted for the largest market share of 57.21% in 2022
The ELISA kits segment held the largest share in the global Nipah virus testing market, owing to the rising prevalence of HIV/AIDS globally. Also, enzyme Linked Immunosorbent Assay (ELISA) is an immunoassay used to identify proteins, antibodies, peptides, and hormones. Additionally, the rising demand for affordable diagnostic tools and increasing awareness regarding the diagnosis of cancer and autoimmune diseases are helping to boost the segment’s market growth. Further, by 2030, the RT PCR-based kits segment will likely dominate the market due to the increasing investments in research and development activities. Moreover, the increasing the prevalence of infectious diseases therapeutic like hepatitis, HIV, and malaria and genetic disorders such as syndromes and cancer is expected to drive the segment’s market growth.
The hospitals segment market size 586.22 million in 2022
The hospitals segment is anticipated to dominate the market over the forecast period owing to the increased demand for electricity and limited non-renewable resources. Further, by 2030, the diagnostic centers segment will likely dominate the market due to an expansion of molecular diagnostics.
Get additional highlights on the growth strategies adopted by vendors and their product offerings: https://www.thebrainyinsights.com/enquiry/request-customization/13142
Market Dynamics
Driver: The increasing product development activities for the ELISA kit:
The introduction of advanced point-of-care blood tests and advanced technological facilities is the driving factor of the market growth. Further, the high demand for immunoassay reagents & kits for diagnosis purposes, with the increasing prevalence of autoimmune & infectious diseases, is also propelling the market growth over the forecast period. Additionally, the easy availability of technologically advanced diagnostic techniques, the introduction of molecular kits, and the raised demand for diagnostics reagents are helping to drive market growth during the forecast period.
Restraint: The shortage of skilled laboratory personnel:
The timeline period’s expansion of the enzyme-linked immunosorbent assay (ELISA) test is restraining the market growth. Further, the lack of favourable reimbursement scenarios & technology penetration in developing economies, and lack of suitable infrastructure in low- and middle-income countries, and the decline in healthcare expenses in the advancing countries are also hampering the market growth.
Opportunity: The increasing technological advancements:
The upsurge in the public-private funding for target research activities, constant development in several infectious diseases, and rising product innovations and development due to technological advancements worldwide are anticipated to create market growth opportunities. Further, increasing inorganic activities among industry players and growing product approvals by regulatory authorities and government organizations are also helping to boost market growth over the forecast period.
Get a comprehensive report summary describing the market size and forecast: https://www.thebrainyinsights.com/report/nipah-virus-testing-market-13142
Some of the major players operating in the nipah virus testing market are:
• Aurobindo
• Minapharm
• Roche
• Lupin Ltd.
• Siegfried
• Vivacure
• Starlake Bioscience
• Xaretto
• Liferiver
• MyBioSource
• Krishgen Biosystems
Key Segments cover in the market:
By Sample:
• Blood
• Throat & Nasal Swab
• Urine
• Others
By Product Type:
• RT PCR based kits
• ELISA Kits
By End-Use:
• Hospitals
• Research Labs
• Diagnostic Centers
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Interested in Procure Data Visit: https://www.thebrainyinsights.com/buy-now/13142/single
About the report:
The market is analyzed based on value (USD Million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: [email protected]
Web: http://www.thebrainyinsights.com
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaChron.com takes no editorial responsibility for the same.