Zika Virus Testing Market Is Expected To Reach USD 328.3 Million By 2028.18 November 2023
Market Overview: The global market for Zika virus testing had a size of USD 179.2 million in 2020 and is projected to exhibit a Compound Annual Growth Rate (CAGR) of 7.9% during the forecast period. Factors such as the increasing prevalence of Zika virus infections and the substantial research and development efforts by pharmaceutical companies aimed at developing effective procedures are pivotal in driving the growth of global market revenue.
Zika Virus Background: Zika virus, a member of the Flaviviridae family, is primarily transmitted by Aedes mosquitoes, which are active during the daytime and also responsible for dengue fever, chikungunya, Japanese encephalitis, and yellow fever. Outbreaks of Zika virus have been documented in various regions, including Latin America, North America, Africa, and the Asia Pacific. The virus’s symptoms typically include fever, headache, muscle and joint pain, rash, and conjunctivitis. In severe cases, it can lead to nervous system complications such as Guillain-Barre syndrome and myelitis in older children and adults. The virus can be transmitted through sexual contact or from mother to fetus, with pregnant women facing an increased risk of miscarriage or serious birth defects like microcephaly.
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Current Testing Methods and Challenges: Presently, Zika virus detection kits are instrumental in identifying the virus’s RNA, obtained from samples like plasma, serum, or urine. However, the virus is challenging to detect, with molecular tests effective only in the initial 2 or 3 weeks of infection and antibody tests potentially yielding false-positive results due to cross-reactivity. Consequently, there is a rising demand for more advanced and efficient testing methods, creating lucrative growth opportunities for market players.
Market Dynamics: Drivers:
- Government initiatives and investments in research and development activities play a crucial role in advancing Zika virus testing capabilities.
- Increasing awareness efforts, along with investments in research and development for innovative tests, contribute to market growth.
- Slow adoption of technologically advanced testing kits in developing countries and side effects associated with the IgM test hinder overall market growth.
Test Types: The global Zika virus testing market is segmented into molecular testing (NAAT, PCR) and serological testing (ELISA, PRNT). The serological testing segment, utilizing tests based on detecting IgM and IgG antibodies, is anticipated to hold a significant revenue share, driven by advanced serological tests for rapid detection.
End-Use: The market is segmented by end-use into diagnostic laboratories, hospitals and clinics, and research institutes. Research institutes, collaborating with various organizations and companies, are expected to witness robust revenue growth due to increased demand for advanced testing and diagnostic kits and substantial funding in research and development activities.
- North America dominated the global market in 2020, maintaining its position due to advanced diagnostic techniques and well-established healthcare infrastructure. Initiatives by organizations like UNICEF, CDC, and PAHO further support market growth.
- Latin America is projected to experience substantial revenue growth, particularly in Brazil, where government initiatives and widespread usage of testing facilities contribute to market expansion.
- Asia Pacific is expected to undergo rapid revenue growth, driven by increasing awareness, rising Zika virus cases, ongoing research, and investments in R&D activities.
Competitive Landscape: The global Zika virus testing market is highly competitive, with key players adopting organic and inorganic growth strategies such as product launches, mergers, acquisitions, collaborations, and joint ventures. Key players include Abbott Laboratories, Altona Diagnostics GmbH, Chembio Diagnostic Systems Inc., ELITechGroup, F. Hoffmann-La Roche Ltd, Genekam, Luminex Corporation, Novacyt Group, Quest Diagnostics, and Siemens AG.
Report Overview: The report covers historical data, forecasts, revenue growth at global, regional, and country levels, and provides analysis, industry trends, and consumption patterns from 2018 to 2028. Segmentation is based on diagnostic test type, end-use, and region, offering insights into market dynamics, company rankings, competitive landscape, growth factors, and trends.
Key Report Parameters:
- Market size in 2020: USD 179.2 Million
- CAGR (2020 – 2028): 7.9%
- Forecasted Revenue in 2028: USD 328.3 Million
- Base year for estimation: 2019
- Historical data: 2017-2018
- Forecast period: 2020-2028
- Quantitative units: Revenue in USD Million
- CAGR from 2020 to 2028
Customization Scope: The report offers 10 hours of free customization and expert consultation, covering parameters such as test type outlook, end-use outlook, and regional outlook.
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Zika Virus Testing Market, Zika Virus (ZIKV) Diagnostics Market