Global Zika Virus Testing Industry Set for Steady Growth to reach USD 6.8 Million by 2033 Driven by Rising Infections and Technological Advancements | FMI

The global zika virus testing industry is positioned for significant expansion, according to a new forecast by Future Market Insights (FMI). Valued at USD 4.9 million in 2023, the market is projected to reach USD 6.8 million by 2033, reflecting a compound annual growth rate (CAGR) of 3.4% during the forecast period.

The key factor driving this growth is the increasing incidence of Zika virus infections worldwide. As the healthcare sector continues to combat multiple viral outbreaks in the 21st century, including SARS, Chikungunya, Swine Flu, and Zika Virus, the need for advanced diagnostic tools has intensified.

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Several factors are contributing to the surge in demand for Zika virus testing:
• Emergency Authorization of Point-of-Care Testing (POCT): This rapid testing method offers quicker diagnoses, significantly improving patient care by enabling faster detection and treatment.

• Technological Advancements in RNA Therapy: Cutting-edge innovations in RNA therapy are crucial in developing effective treatments for Zika virus infections, boosting the focus on diagnostic precision.

• Enhanced Research and Development Efforts: Ongoing investments in R&D are vital to improving the accuracy and efficiency of Zika virus diagnostics, ensuring better detection and treatment outcomes.

"Advancements in diagnostic methodologies have enabled the healthcare industry to develop more effective diagnostics and treatments for Zika virus infections," said an FMI. "Techniques such as viral isolation and detection of viral antigens, nucleic acids, and antibodies play a crucial role in laboratory testing for the Zika virus."

Looking ahead, the Zika virus testing industry is expected to experience continued innovation and the adoption of next-generation technologies. These advancements will further enhance the diagnostic accuracy and efficiency of testing methods, addressing the growing demand for reliable and rapid testing solutions. As global public health initiatives intensify their efforts to combat Zika virus infections, the market for Zika virus testing is expected to thrive in the coming years.

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.

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As per FMI's analysis, the following players operate within the global zika virus testing industry:
Prominent players in the Zika virus testing market are increasingly focusing on integrating advanced testing methods to achieve faster turnaround times and expedited results. This enables clinicians to recommend timely treatment strategies for patients diagnosed with the infection. These companies also leverage strategic partnerships with various institutions and enterprises to broaden their market presence.

For instance, Creative Diagnostics provides the Recombinant Zika Virus Envelope protein test featuring Histidine tags. This protein interacts with both IgG and IgM antibodies, ensuring accurate diagnostic outcomes. With a purity exceeding 85%, it is available in 1 mg vials. Additionally, Creative Diagnostics offers the Recombinant Zika Virus NS1 protein test as part of their comprehensive testing solutions.

• In March 2022, The International Arbovirus Project was started by the World Health Organization. Initiated by the World Health Organization, the Global Arbovirus Initiative Zika, Dengue, Yellow fever, Chikungunya, and other Arboviruses are currently posing a danger to public health around the globe. By assembling a coalition of important partners, this integrated program is likely to improve the coordination, communication, capacity-building, research, readiness, and reaction required to reduce the rising risk of epidemics caused by these illnesses.

Key Players:
• 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

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)

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This release was published on openPR.