Zika Virus Testing Market Size Worth $580.4 Million By 2027

The global zika virus testing market size is expected to reach USD 580.4 million by 2027, according to a new report by Grand View Research, Inc., progressing at a CAGR of 7.6% during the forecast period. Zika virus outbreak in 2016 contributed to the rise in response strategies and diagnostic surveillance activities. Widespread incidence of the disease in 2016 was mostly a result of travel-based viral transmission. The recently drawn correlation between Zika virus infection and microcephaly in newborns is further stoking growth of the market. 

Spiraling demand for Zika Virus Testing stems from government-led preparedness programs and support from international organizations such as UNICEF. Stockpiling and emergency preparedness initiatives focus on endemic regions as well as immunologically naïve population subsets in the Asian and African markets, which hold high threat of future outbreaks. These developing regions, currently not classified as endemic, are host to temperature changes, humidity, and precipitation as well as reported vector presence that cumulatively provide a supportive habitat for the causative vector, Aedes aegypti mosquitoes.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/zika-virus-testing-market

Further key findings from the report suggest:

  • NAAT and serological segments in the Zika Virus Testing market held nearly equal market share in 2016. However, the former was preferred for its cost effectiveness in analyzing high volume of tests during the epidemic
  • Serological tests are gaining preference as they can provide differential diagnosis and are performed to detect late-stage infections
  • In 2016, the U.S. states and territories dominated the market in terms of revenue. Increasing blood donation screening using individual donor NAAT tests to prevent transfusion-related disease transmission is one of key factors contributing to the market.
  • Latin America followed in terms of market share as it witnessed more than 50% of the globally recorded disease incidence in 2016. Brazil’s National Development Bank announced funding worth USD 136.6 million, which will drive disease surveillance activities with improved rapid tests to fight zika virus infection in the country
  • UNICEF awarded long-term arrangement contracts, effective until 2019, to Chembio Diagnostic Systems, Inc. and SD Biosensors, Inc. for the supply of ZIKV diagnostics
  • In 2016, Quest Diagnostics, Inc.; Roche; and Hologic were among the leading market players with FDA-approved diagnostics under emergency use authorization
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