Zika Virus Testing Market Rugged Expansion Foreseen by 2023
Zika Virus Testing Market Key Players
Luminex Corporation, ARUP Laboratories, Roche Molecular Systems, Hologic, and Siemens Healthcare Diagnostics are some of the leaders driving the Global Zika Virus Testing Market. Profiling those in its analysis MRFR finds out their strategies that place them at the forefront of completion.
Zika Virus Testing Market – Overview
Zika Virus Testing kits detect IgM/IgG antibodies associated with Zika virus in human serum & plasma. These test kits have emerged as effective diagnostic tools. During the year 2016, there was a major outburst of Zika Virus mainly in various parts of the US, Canada, Europe region including regions of Asia Pacific, the Caribbean up to Brazil. After which, Public health organizations like WHO, CDC and others have declared Zika virus infection as one of the deadly diseases that can further cause microcephaly and other dangerous neurological disorders.
Taking a note from this, governments across the world have taken up various initiatives to spread the awareness about ZicaViruses & it’s after effects. They are introducing Zika testing in the hospitals while allotting significant budgetary programs. Resultantly, this is reasoning the market growth. Simultaneously, sedulous efforts put in by vendors and pharma companies to develop novel test kits are generating more traction.
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Acknowledging the spurting growth the market is perceiving currently & the potential the market holds to grow globally, a leading research firm ‘Market Research Future’ (MRFR) has recently published a brilliant study report mapping companies active in the industry and the growth drivers & restraining factors. In its market analysis, MRFR asserts that the global Zika Virus Testing Market will perceive phenomenal accruals posting a striking CAGR during 2017 – 2023.
In addition, other factors driving the market growth include continuous technological advancements, rising demand of self-contained and quick test results, improving economy, growing urbanization etc. Increasing governmental endeavours to spread the awareness towards the after effects of this infection are estimated to propel the market during 2017 to 2023.
Conversely, factors such as growing number of new entrants with absolutely limited medical equipment business history, and a significant price gap between the top players and small un-organized players’ are restricting the market growth. Also, physicians’ skeptism towards the efficacy of these kits inhibits the market growth.
Zika Virus Testing Market – Competitive Analysis
Although still in its embryonic stage the Zika Virus Testing market is moderately competitive already. This market demonstrates a pretty good growth prospects that are expected to attract new entrant further introducing the market with fierce competition.
Industry/ Innovations/ Related News
March 19, 2018 – Research Study Published – Researchers at the Center for Infection & Immunity of Columbia University (US) presented their study of the new Zika Virus Test they have developed – named as – ZIKV-NS2B-concat ELISA. The new blood test extends the window of accurate detection from weeks to months after the onset of Zika infection.
March 01, 2018 – Research Study Published – Researchers at New York University College of Dentistry (NYU Dentistry) presented their study of the new Zika Virus Test they have developed through using saliva samples (instead of blood samples). The innovation was developed in collaboration with Rheonix, a molecular testing company. The concept was adopted from preceding research done by the team on a HIV test (saliva-based).
Zika Virus Testing Global Market – Segments
The Zika Virus Testing market can be segmented in to three key dynamics for the convenience of the report and enhanced understanding;
By Types of Test: Comprises Serological/Zika Virus Antibody, Molecular/Nucleic Acid Amplification, etc.
By End Users: Diagnostic Units, Hospitals, & Pathology Labs among others.
By Region: Europe, APAC, North America, and Rest of the World.
Worldwide Zika Virus Testing Market – Geographical Analysis
North America is the largest market for Zika Virus Testing accounting for the maximum market share. This growth attributes to the augmenting awareness towards the advantages of the Test kits and the augmented governmental spending for R&D activities to develop novel medical diagnostic tests. The market is expected to grow pervasively in the years to come continuing with the same trends. Technological advancements transpired in to the field of Zika Virus Testing are also one of the prominent driving forces for the regional growth.
Similarly, European governments are spending substantially on diagnostic tests innovations and treatments for the after effects of these Viruses.
Despite the several adversaries Asia pacific market is surging rapidly due to the ongoing programmes to increase awareness among people, developments in healthcare coupled with the growing rate of literacy & per capita income. These trends are expected to foster the regional market growth demanding the maximum market share of the market. Further the APAC Region is poised to emerge as the fastest growing region over the forecast period.
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