Future Market Insights (FMI) has released a comprehensive forecast indicating a significant growth trajectory for the global Zika virus testing market. According to the report, the market is poised to expand from US$ 4.9 million in 2023 to US$ 6.8 million by 2033, demonstrating a Compound Annual Growth Rate (CAGR) of 3.4% during the forecast period.
The primary driver behind this growth is the escalating incidence of Zika virus infections worldwide. With the global healthcare community contending with various epidemic outbreaks since the onset of the 21st century, viral infections such as Severe Acute Respiratory Syndrome (SARS), Chikungunya, Swine Flu, and Zika Virus have posed significant challenges to existing infrastructure capabilities.
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In response to this growing demand, there has been an upsurge in the consumption of Zika virus testing, fueled by factors including increased emergency authorization of Point-of-Care Testing (POCT) and advancements in Zika virus RNA therapy research and development.
Advancements in diagnostic methods have played a crucial role in enabling the healthcare industry to develop effective diagnostics and treatments for Zika virus infections. Cutting-edge testing mechanisms, including viral isolation and various detection techniques for viral antigens, nucleic acids, and antibodies, form the cornerstone of laboratory testing for the Zika virus.
“The escalating global incidence of Zika virus infections underscores the critical need for advanced testing solutions and therapeutic interventions,” stated a spokesperson from FMI. “Technological innovations in diagnostic methods are pivotal in enhancing our ability to combat this public health threat effectively.”
As the Zika virus continues to pose challenges to global health, the forecasted growth of the Zika virus testing market highlights the importance of ongoing research and development efforts in this critical area.
There are two main reasons why Zika virus testing is crucial for pregnant women:
- Severe Birth Defects: Zika virus infection during pregnancy can be transmitted from the mother to the fetus, causing serious birth defects like microcephaly, a condition where the baby’s head is significantly smaller than expected. This can lead to developmental problems.
- Early Detection and Management: Testing allows for early detection of Zika infection in pregnant women. This enables healthcare providers to offer them proper prenatal care, including close monitoring of the fetus’s development and possibly even interventions to minimize the impact of the virus.
Since Zika can cause such devastating consequences for a developing baby, expecting mothers are prioritized for testing, especially in areas with high Zika activity.
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Key Takeaways: Zika Virus Testing Market (2023-2033)
- The market is expected to witness moderate growth, with estimations ranging from a CAGR of 3.4% (FMI) by 2033.
- Despite a significant rise between 2017 and 2020, driven by point-of-care testing advancements, the market is projected to have a steadier growth trajectory moving forward.
- The market size estimations vary, with figures ranging from over US$ 4.7 million (2022) to US$ 4.9 million (2023) depending on the source.
- Rising Zika virus infections are a primary driver for market growth.
- Early and accurate detection, particularly for pregnant women, is crucial to prevent birth defects associated with Zika.
- Molecular tests, like RT-PCR, are expected to hold a dominant share due to their accuracy, with growing adoption of multiplex assays for simultaneous detection of multiple pathogens.
- Point-of-care tests are gaining traction for faster turnaround times and bedside results.
- The market plays a vital role in public health strategies by enabling timely interventions and preventing outbreaks.
As per FMI’s analysis, the following players operate within the global zika virus testing market:
- EUROIMMUN US Inc.
- Creative Diagnostics
- Quest Diagnostics
- Artron Laboratories Inc.
- RapiGEN Inc.
- GenBody Inc.
- JAJ International Inc.
- LumiQuick Diagnostics Inc.
- Biocan Diagnostics Inc.
- NECTAR LIFESCIENCES LTD.
- Luminex Corporation
- ARUP Laboratories
- Abbott Molecular Inc.
- Hologic
- Vela Diagnostics
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Key Segments Covered:
Test Type:
- Rapid IgG/IgM Test
- ELISA Test
End-User:
- Hospitals & Clinics
- Private Commercial Laboratories
- Government/Publicly Funded Programs
Region:
- North America & Europe (USA, United Kingdom, Germany, Spain, France, Italy, and the Rest of Europe)
- Latin America (Brazil, Mexico, Colombia, and the Rest of LATAM)
- Central America (Costa Rica, Nicaragua, Guatemala, and the Rest of Central America)
- Caribbean (Puerto Rico and the Rest of the Caribbean)
- South East Asia (Thailand, Singapore, Vietnam, and the Rest of South East Asia)
- Rest of the World (North Africa and South Africa)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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