Diagnostic Companies Focus On Monkeypox Tests Following Outbreak; Experts Do Not Count It As Next COVID Yet

Diagnostic companies aggressively developed tests for monkeypox as governments struggle to trace the world's first major viral infection outbreak beyond Africa, Reuters reports.

However, the demand for monkeypox tests will be a fraction compared to COVID as monkeypox is neither as contagious nor as fatal as COVID, which contributed to a multibillion-dollar boon for test makers.

Analysts did not expect the new outbreak to make up for the anticipated slowing of COVID diagnostic sales.

Related: WHO Says Monkeypox Outbreak 'Unusual' But 'Containable'

Still, the World Health Organization's (WHO) Europe head warned against rising cases as people gather for parties and festivals over the summer.

About 30 countries have reported more than 550 confirmed cases of monkeypox since early May. The majority were in Europe with no link to travel to Africa. 

There were already vaccines, treatments, and tests available that could help curb the spread of monkeypox, unlike COVID.

Monkeypox is usually transmitted through close contact causing flu-like symptoms and pus-filled skin lesions. 

Related: 6 Stocks To Watch Amid Monkeypox Outbreak

Barclays estimates COVID tests to generate 3 billion Swiss francs for Roche Holding Ltd RHHBY in 2022 versus 1.9 billion Swiss francs ($2.0 billion) in 2021.

A diagnostic alliance's senior director did not see the need for hundreds of thousands of tests despite the outbreak, unlike COVID, thereby dispelling supply concerns regarding tests.

Polymerase chain reaction (PCR) tests were the definitive test for detecting monkeypox, as per WHO. Most diagnostic makers focused on PCR tests for monkeypox. 

WHO is yet to gain clarity regarding the transmission of the virus via symptomatic individuals leaving doubts over the necessity of precautionary testing of suspected cases.

Posted In: NewsMedia

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.