Rising prevalence of Zika virus, increasing public awareness, and growing footprint of local manufacturers of rapid tests for Zika virus are key factors boosting global market growth
New York, February 02, 2022 – The global Zika virus testing market size is expected to reach USD 328.3 million in 2028 and register a CAGR of 7.9% according to the latest report by Reports and Data. Rising prevalence of Zika virus and growing adoption of technologically advanced tests across several countries are key factors driving global market revenue growth.
Zika virus is a member of Flaviviridae family, which is transmitted by daytime active Aedes mosquitoes, causative agents of various infections including fever, Japanese encephalitis, yellow fever, and dengue. Joint and muscle pain, rash, conjunctivitis, fever, and headache are some of the common systems of Zika virus infection. It can be transmitted from one person to another through sexual contact or from infected mother to fetus. Infected pregnant women have high risks of miscarriage, preterm birth, or serious birth defects including microcephaly or other congenital brain abnormalities. This has encouraged Zika virus testing among pregnant women. Increasing investments by market players in research and development activities to develop innovative and advanced tests and growing public awareness about Zika virus infection, transmission, and benefits of early decision are fueling global market growth.
However, factors, such as slow implementation of advanced technologies in developing countries and high cost of branded test kits, are expected to impede growth of the Zika Virus market to a certain extent. In addition, IgM test seems to cause several side effects such as multiple punctures for locating patient’s vein, fainting, or hematoma which is another crucial factor projected to hamper global market growth.
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Some key highlights in the report:
- Based on type, the serological testing segment accounted for largest share in 2020 and is expected to account for significant revenue share over the forecast period. These tests are extremely precise and can detect acute and late-stage Zika virus.
- Among the end-use segments, the research institutes segment is projected to account for significant revenue growth between 2021 and 2028. Research institutes, such as NIAID and NIH, are collaborating with various organizations and pharmaceutical & biotechnology companies to have a clear understanding of the virus and to develop advanced testing kits. Moreover, increasing funds for research and development activities are further fueling segment growth.
- Asia Pacific market is projected to account for fastest revenue growth during the forecast period. Increasing awareness about Zika virus and benefits of early detection, growing research on infection, initiatives from governments for improving the healthcare system, and increasing investments in R&D activities are a few factors boosting global revenue growth.
- The market in Latin America is expected to account for a considerably high revenue growth throughout the forecast period owing to factors such as rising prevalence of Zika virus infection, growing government initiatives to create awareness about the disease, and increasing research on developing advanced tests.
- 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 are some key players operating in the global Zika virus testing market.
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For this study, Reports and Data has segmented the global Zika virus testing market based on Diagnostic Test Type, End-Use, and Region:
Test Type Outlook (Revenue, USD Million, 2018-2028)
- Molecular Testing
- Nucleic Acid Amplification Testing (NAAT)
- Polymerase Chain Reaction (PCR)
- Serological Testing
- Enzyme-Linked Immune Sorbent Assay (ELISA)
- Plaque Reduction and Neutralization Test (PRNT)
End-Use Outlook (Revenue, USD Million, 2018-2028)
- Diagnostic Laboratory
- Hospital and Clinics
- Research Institutes
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Regional Outlook (Revenue, USD Billion, 2018 – 2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Rest Of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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