Worldwide Latest Market Research Report on “Global Zika Virus Testing Market - Segmented by Diagnostic Test Type, End User, and Geography - Growth, Trends, and Forecast (2019 - 2023) 2019-2023”
The Global Zika Virus Testing market with CAGR of 5.5% 2019-2023. The report begins from overview of Industry Chain structure, and describes the industry environment, then analyses market size and forecast of Zika Virus Testing by product, region, and application, in addition, this report introduces market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.
Competitor Analysis: by product types, market share, applications, sales, and revenue.
- Altona Diagnostics GmbH
- Chembio Diagnostic Systems Inc.
- F. Hoffmann-La Roche Ltd
- Fast Track Diagnostics Ltd
- Luminex Corporation
- Primerdesign Ltd
- and Quest Diagnostics
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Overview of Zika Virus Testing Market:
The global Zika virus testing market is expected to register a CAGR of about 5.5%, during the forecast period of 2019-2023. Zika virus belongs to falvivirus genus transmitted by Ades mosquitoes. The market studied is primarily driven by the increasing R&D activities and rising prevalence of Zika virus infection. By region, due to well-developed healthcare infrastructure and rapid technological advancements by several biopharmaceutical companies in the testing of Zika virus, North America is expected to dominate the market studied.
Increasing Prevalence of Zika Virus Infection
Zika virus (ZIKV) infection has been known to be endemic in Africa and Southeast Asia. The consequent viral spread over the Pacific region led to an outbreak in the developed and emerging countries, worldwide. According to the World health Organization (WHO), about 84 countries/territories are or have been previously infected by ZIKV transmission. There have been major outbreaks of Zika virus infection during 2016-2017, in Asia-Pacific (particularly India) and South American countries. As per the Centers for Disease Control and Prevention, Mexico, South America, Central and Sub-Saharan African countries, and several countries in Southeast Asia are the major countries at risk for the growth of Zika virus infection. Thus, the rising prevalence of Zika virus infection in the emerging countries is one of the primary factors driving the growth of the market studied, over the forecast period.
The other prominent drivers of the market studied are - government initiatives to develop innovative tests, rising R&D efforts by biopharmaceutical companies, and technological advancements in medical diagnostic tests.
High Costs of Testing Kits
The high cost associated with the testing kits is one of the primary factors restricting the growth of the market studied. As per a recent article published in Becker’s Healthcare, the cost of screening is high and positive detections of Zika virus are low. As per the current US Food and Drug Administration (FDA) policy, blood sample from each donation is received individually, which leads to high costs. In the emerging markets like India, the cost is high, and in the range of about INR 4,500–INR 6,000 per test, in leading diagnostic centers, such as Dr. Lal PathLabs, SRL Diagnostics, Quest Diagnostics, and Star Imaging. Further, the laboratory diagnosis infection relies upon RNA in patient specimen and have lower limits of detection.
The other factor restricting the growth of the market studied is the sluggish adoption of new technologies in the emerging economies.
North America is Poised to Dominate
Due to the rising adoption of new technologies in the medical device sector, North America is expected to dominate the market studied. The growth can also be attributed to the rising awareness of the advantages of testing kits. The government organizations, such as CDC, Pan American Health Organization (PAHO), etc., have been mainly involved in the prevention of Zika virus infection. The CDC has received several funding over the past two years, to combat Zika outbreak across several territories. Several companies have been introducing their diagnostic tests, across North and South American countries.
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Reasons to Purchase this Report
The Global demand for Zika Virus Testing Market is forecast to report strong development driven by consumption in major evolving markets. More growth opportunities to come up between 2019 and 2025 compared to a few years ago, signifying the rapid pace of change.
Global Zika Virus Testing Market highlights the following key factors:
- A complete informative analysis of Zika Virus Testing industry, which includes a valuation of the parental market.
- Emerging trends by sections and regional markets.
- Major developments in market dynamics & market overview.
- Zika Virus Testing Market shares and methods of key players in the Zika Virus Testing market.
- Current and predictable size of Zika Virus Testing market from the outlook of both value and volume.
- Reporting and estimation of recent industry developments.
- References to companies for establishment their position in the Zika Virus Testing market.
Zika Virus Testing Market report passes on a fundamental overview of the Market including its definition, applications, and advancement. Furthermore, the Industry report investigates the ecumenical Major Zika Virus Testing Market players in detail. Zika Virus Testing Market report gives key bits of Cautiousness and subsisting status of the Players and is a basic Source obviously and heading for Companies and people energized by the Industry.
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The growth of this market worldwide is subjected to various factors; including consumer world-class Zika Virus Testing Market of many Zika Virus Testing Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.
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Mr. Ajay More
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