Static and dynamic responses of excitons in state-of-the-art bulk and epitaxial ZnO are reviewed to support the possible realization of polariton lasers, which are coherent and monochromatic light sources due to Bose condensation of exciton-polaritons in semiconductor microcavities (MCs). To grasp the current problems and to pave the way for obtaining ZnO epilayers of improved quality, the following four principal subjects are treated: (i) polarized optical reflectance (OR), photoreflectance (PR) and photoluminescence (PL) spectra of the bulk and epitaxial ZnO were recorded at 8 K. Energies of PR resonances corresponded to those of upper and lower exciton-polariton branches, where A-, B- and C-excitons couple simultaneously to an electromagnetic wave. PL peaks due to the corresponding polariton branches were observed. Longitudinal-transverse splittings (omega(LT)) of the corresponding excitons were 1.5, 11.1 and 13.1 meV, respectively. The latter two values are more than two orders of magnitude greater than that of GaAs being 0.08 meV. (ii) Using these values and material parameters, corresponding vacuum-field Rabi splitting of exciton-polaritons coupled to a model MC mode was calculated to be 191 meV, which is the highest value ever reported for semiconductor MCs and satisfies the requirements to observe the strong exciton-light coupling regime necessary for polariton lasing above room temperature. (iii) Polarized OR and PR spectra of an out-plane nonpolar (1120) ZnO epilayer grown by laser-assisted molecular beam epitaxy (L-MBE) were measured, since ZnO quantum wells (QWs) grown in nonpolar orientations are expected to show higher emission efficiencies due to the elimination of spontaneous and piezoelectric polarization fields normal to the QW plane. They exhibited in-plane anisotropic exciton resonances according to the polarization selection rules for anisotropically-strained wurzite material. (iv) Impacts of point defects on the nonradiative processes in L-MBE ZnO were studied using time-resolved PL making a connection with the results of positron annihilation measurement. Free excitonic PL intensity at room temperature naturally increased with the increase in nonradiative lifetime (tau(nr)). The value of tau(nr) increased and density or size of Zn vacancies (V-Zn) decreased with increasing growth temperature (T-g) in heteroepitaxial films grown on a ScAlMgO4 substrate, and the use of homoepitaxial substrates further reduced VZn density. The value Of tau(nr) was shown to increase with the decrease in gross density of positively and negatively charged and neutral point defects including complexes rather than with the decrease in V-Zn density. The results indicate that the nonradiative recombination process is governed not by single point defects, but by certain defects introduced with the incorporation Of V-Zn, such as V-Zn-defect complexes. As a result of defect elimination by growing the films at high T I followed by subsequent post-growth in situ annealing, combined with the use of high-temperature-annealed ZnO self-buffer layer, a record long tau(nr) for spontaneous emission of 3.8 ns was obtained at room temperature. By using progressively improving epitaxial growth methods, the polariton laser effect is expected to be observed at room temperature in the near future.